ZPRE.DE vs. ZPRX.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both Europe Equities funds from State Street - ZPRE.DE tracks the MSCI EMU while ZPRX.DE tracks the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 10 years, ZPRE.DE returned 9.98%/yr vs 8.15%/yr for ZPRX.DE. Their correlation of 0.86 suggests significant overlap in exposure. ZPRE.DE charges 0.18%/yr vs 0.30%/yr for ZPRX.DE.
Performance
ZPRE.DE vs. ZPRX.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 ZPRX.DE's 7.81% return. Over the past 10 years, ZPRE.DE has outperformed ZPRX.DE with an annualized return of 9.98%, while ZPRX.DE has yielded a comparatively lower 8.15% annualized return.
ZPRE.DE
- 1D
- 0.59%
- 1M
- 4.67%
- YTD
- 9.05%
- 6M
- 10.89%
- 1Y
- 18.16%
- 3Y*
- 15.98%
- 5Y*
- 10.50%
- 10Y*
- 9.98%
ZPRX.DE
- 1D
- 0.33%
- 1M
- 1.27%
- YTD
- 7.81%
- 6M
- 10.93%
- 1Y
- 17.80%
- 3Y*
- 15.09%
- 5Y*
- 7.77%
- 10Y*
- 8.15%
ZPRE.DE vs. ZPRX.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% | 13.22% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.81% | 26.81% | 4.28% | 15.28% | -13.52% | 27.58% | -3.52% | 29.02% | -19.20% | 12.89% |
Correlation
The correlation between ZPRE.DE and ZPRX.DE is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.86 |
The correlation between ZPRE.DE and ZPRX.DE has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. ZPRX.DE — Risk / Return Rank
ZPRE.DE
ZPRX.DE
ZPRE.DE vs. ZPRX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.DE) and SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.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 | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.22 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.47 | +0.29 |
| Martin ratioReturn relative to average drawdown | 6.43 | 5.42 | +1.01 |
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 | ZPRX.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 1.23 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.46 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.45 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.39 | +0.15 |
Drawdowns
ZPRE.DE vs. ZPRX.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for ZPRE.DE and ZPRX.DE.
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Drawdown Indicators
| ZPRE.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -43.93% | +5.77% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -11.63% | +1.36% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | -15.95% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | -27.52% | +3.04% |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | -43.93% | +5.77% |
Current DrawdownCurrent decline from peak | -0.47% | -1.51% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -7.71% | +1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 3.16% | -0.34% |
Volatility
ZPRE.DE vs. ZPRX.DE - Volatility Comparison
SPDR MSCI EMU UCITS ETF (ZPRE.DE) has a higher volatility of 4.62% compared to SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) at 4.17%. This indicates that ZPRE.DE's price experiences larger fluctuations and is considered to be riskier than ZPRX.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 | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 4.17% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 11.30% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 13.94% | +0.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 16.69% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 18.14% | -1.02% |
ZPRE.DE vs. ZPRX.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
ZPRE.DE vs. ZPRX.DE - Dividend Comparison
Neither ZPRE.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRE.DE and ZPRX.DE have a correlation of 0.81, 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 0.30% for ZPRX.DE.
ZPRE.DE tracks MSCI EMU, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. Their fees differ too: 0.18% for ZPRE.DE and 0.30% for ZPRX.DE.
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