ZPRI.DE vs. IWMO.MI
ZPRI.DE (SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF) and IWMO.MI (iShares Edge MSCI World Momentum Factor UCITS ETF (Acc)) are both exchange-traded funds - ZPRI.DE is a Diversified Portfolio fund tracking the Morningstar Global Multi-Asset Infrastructure, while IWMO.MI is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 10 years, ZPRI.DE returned 4.91%/yr vs 15.31%/yr for IWMO.MI. At a 0.47 correlation, their price movements are largely independent. ZPRI.DE charges 0.40%/yr vs 0.25%/yr for IWMO.MI.
Performance
ZPRI.DE vs. IWMO.MI - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRI.DE achieves a 5.11% return, which is significantly lower than IWMO.MI's 22.51% return. Over the past 10 years, ZPRI.DE has underperformed IWMO.MI with an annualized return of 4.91%, while IWMO.MI has yielded a comparatively higher 15.31% annualized return.
ZPRI.DE
- 1D
- -0.55%
- 1M
- -0.71%
- YTD
- 5.11%
- 6M
- 4.65%
- 1Y
- 8.87%
- 3Y*
- 6.15%
- 5Y*
- 3.55%
- 10Y*
- 4.91%
IWMO.MI
- 1D
- -0.90%
- 1M
- 8.73%
- YTD
- 22.51%
- 6M
- 23.74%
- 1Y
- 31.60%
- 3Y*
- 26.15%
- 5Y*
- 14.68%
- 10Y*
- 15.31%
ZPRI.DE vs. IWMO.MI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRI.DE SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF | 5.11% | 1.93% | 8.86% | 3.55% | -7.87% | 14.34% | -1.90% | 20.85% | 1.57% | -1.34% |
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 22.51% | 8.04% | 39.23% | 7.91% | -13.96% | 24.82% | 17.08% | 31.14% | 0.40% | 16.05% |
Correlation
The correlation between ZPRI.DE and IWMO.MI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2015 | 0.47 |
Over the past year, the correlation between ZPRI.DE and IWMO.MI has dropped to 0.24 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
ZPRI.DE vs. IWMO.MI — Risk / Return Rank
ZPRI.DE
IWMO.MI
ZPRI.DE vs. IWMO.MI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (ZPRI.DE) and iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI). 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.
| ZPRI.DE | IWMO.MI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.34 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | 3.50 | -0.87 |
| Martin ratioReturn relative to average drawdown | 7.25 | 13.36 | -6.11 |
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
| ZPRI.DE | IWMO.MI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.87 | -0.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.84 | -0.49 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.90 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.80 | -0.45 |
Drawdowns
ZPRI.DE vs. IWMO.MI - Drawdown Comparison
The maximum ZPRI.DE drawdown since its inception was -22.84%, smaller than the maximum IWMO.MI drawdown of -31.03%. Use the drawdown chart below to compare losses from any high point for ZPRI.DE and IWMO.MI.
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Drawdown Indicators
| ZPRI.DE | IWMO.MI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.84% | -31.03% | +8.19% |
Max Drawdown (1Y)Largest decline over 1 year | -3.37% | -9.04% | +5.67% |
Max Drawdown (3Y)Largest decline over 3 years | -11.11% | -23.45% | +12.34% |
Max Drawdown (5Y)Largest decline over 5 years | -14.82% | -23.45% | +8.63% |
Max Drawdown (10Y)Largest decline over 10 years | -22.84% | -31.03% | +8.19% |
Current DrawdownCurrent decline from peak | -1.86% | -0.90% | -0.96% |
Average DrawdownAverage peak-to-trough decline | -5.00% | -5.88% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.22% | 2.37% | -1.15% |
Volatility
ZPRI.DE vs. IWMO.MI - Volatility Comparison
The current volatility for SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF (ZPRI.DE) is 1.70%, while iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) (IWMO.MI) has a volatility of 5.79%. This indicates that ZPRI.DE experiences smaller price fluctuations and is considered to be less risky than IWMO.MI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRI.DE | IWMO.MI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.70% | 5.79% | -4.09% |
Volatility (6M)Calculated over the trailing 6-month period | 5.27% | 14.18% | -8.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.91% | 16.87% | -9.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.93% | 17.29% | -7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.37% | 17.60% | -7.23% |
ZPRI.DE vs. IWMO.MI - Expense Ratio Comparison
ZPRI.DE has a 0.40% expense ratio, which is higher than IWMO.MI's 0.25% expense ratio.
Dividends
ZPRI.DE vs. IWMO.MI - Dividend Comparison
ZPRI.DE's dividend yield for the trailing twelve months is around 2.91%, while IWMO.MI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMO.MI iShares Edge MSCI World Momentum Factor UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ZPRI.DE SPDR Morningstar Multi-Asset Global Infrastructure UCITS ETF | 2.91% | 2.99% | 2.76% | 2.78% | 2.54% | 1.89% | 2.23% | 2.29% | 2.18% | 2.36% | 2.21% | 1.19% |
Frequently Asked Questions
ZPRI.DE and IWMO.MI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWMO.MI is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWMO.MI is cheaper with a 0.25% expense ratio, compared with 0.40% for ZPRI.DE.
ZPRI.DE is categorized as Diversified Portfolio, while IWMO.MI is Momentum. ZPRI.DE tracks Morningstar Global Multi-Asset Infrastructure, while IWMO.MI tracks MSCI World Momentum Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.40% for ZPRI.DE and 0.25% for IWMO.MI.
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