ZPRE.DE vs. XHYA.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and XHYA.DE (Xtrackers EUR High Yield Corporate Bond UCITS ETF) are both exchange-traded funds - ZPRE.DE is a Europe Equities fund tracking the MSCI EMU, while XHYA.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield. Both are passively managed. Over the past 5 years, ZPRE.DE returned 10.50%/yr vs 2.78%/yr for XHYA.DE. A 0.64 correlation means they provide meaningful diversification when combined. ZPRE.DE charges 0.18%/yr vs 0.20%/yr for XHYA.DE.
Performance
ZPRE.DE vs. XHYA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRE.DE achieves a 9.05% return, which is significantly higher than XHYA.DE's 1.11% return.
ZPRE.DE
- 1D
- 0.59%
- 1M
- 2.03%
- YTD
- 9.05%
- 6M
- 10.79%
- 1Y
- 17.71%
- 3Y*
- 15.98%
- 5Y*
- 10.50%
- 10Y*
- 9.98%
XHYA.DE
- 1D
- -0.22%
- 1M
- 0.41%
- YTD
- 1.11%
- 6M
- 1.27%
- 1Y
- 3.39%
- 3Y*
- 6.38%
- 5Y*
- 2.78%
- 10Y*
- —
ZPRE.DE vs. XHYA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRE.DE SPDR MSCI EMU UCITS ETF | 9.05% | 24.37% | 9.48% | 18.70% | -11.85% | 21.92% | -0.70% | 27.13% | -12.82% | 8.45% |
XHYA.DE Xtrackers EUR High Yield Corporate Bond UCITS ETF | 1.11% | 4.47% | 6.15% | 10.88% | -8.84% | 2.96% | 2.02% | 9.71% | -3.59% | 3.97% |
Correlation
The correlation between ZPRE.DE and XHYA.DE is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Mar 16, 2017 | 0.64 |
The correlation between ZPRE.DE and XHYA.DE has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. XHYA.DE — Risk / Return Rank
ZPRE.DE
XHYA.DE
ZPRE.DE vs. XHYA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.DE) and Xtrackers EUR High Yield Corporate Bond UCITS ETF (XHYA.DE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| ZPRE.DE | XHYA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.16 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.11 | +0.65 |
| Martin ratioReturn relative to average drawdown | 6.43 | 4.54 | +1.89 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZPRE.DE | XHYA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 0.84 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.50 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.44 | +0.10 |
Drawdowns
ZPRE.DE vs. XHYA.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, which is greater than XHYA.DE's maximum drawdown of -23.86%. Use the drawdown chart below to compare losses from any high point for ZPRE.DE and XHYA.DE.
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Drawdown Indicators
| ZPRE.DE | XHYA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -23.86% | -14.30% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -2.89% | -7.38% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | -4.23% | -10.90% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | -14.48% | -10.00% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | — | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.22% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -2.52% | -3.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 0.71% | +2.11% |
Volatility
ZPRE.DE vs. XHYA.DE - Volatility Comparison
SPDR MSCI EMU UCITS ETF (ZPRE.DE) has a higher volatility of 4.62% compared to Xtrackers EUR High Yield Corporate Bond UCITS ETF (XHYA.DE) at 1.08%. This indicates that ZPRE.DE's price experiences larger fluctuations and is considered to be riskier than XHYA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRE.DE | XHYA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 1.08% | +3.54% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 3.23% | +8.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 3.82% | +10.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 5.46% | +10.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 6.67% | +10.45% |
ZPRE.DE vs. XHYA.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is lower than XHYA.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
ZPRE.DE vs. XHYA.DE - Dividend Comparison
Neither ZPRE.DE nor XHYA.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRE.DE and XHYA.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRE.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRE.DE is cheaper with a 0.18% expense ratio, compared with 0.20% for XHYA.DE.
ZPRE.DE is categorized as Europe Equities, while XHYA.DE is European High Yield Bonds. ZPRE.DE tracks MSCI EMU, while XHYA.DE tracks iBoxx® EUR Liquid High Yield. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.18% for ZPRE.DE and 0.20% for XHYA.DE.
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