ZPRP.DE vs. H4ZL.DE
ZPRP.DE (SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both REIT funds - ZPRP.DE tracks the FTSE EPRA/NAREIT Developed Europe ex UK while H4ZL.DE tracks the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 10 years, ZPRP.DE returned 0.99%/yr vs 2.35%/yr for H4ZL.DE. A 0.64 correlation means they provide meaningful diversification when combined. ZPRP.DE charges 0.30%/yr vs 0.24%/yr for H4ZL.DE.
Performance
ZPRP.DE vs. H4ZL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRP.DE achieves a -0.81% return, which is significantly lower than H4ZL.DE's 6.32% return. Over the past 10 years, ZPRP.DE has underperformed H4ZL.DE with an annualized return of 0.99%, while H4ZL.DE has yielded a comparatively higher 2.35% annualized return.
ZPRP.DE
- 1D
- 0.56%
- 1M
- -1.34%
- YTD
- -0.81%
- 6M
- -0.50%
- 1Y
- -2.34%
- 3Y*
- 9.93%
- 5Y*
- -4.33%
- 10Y*
- 0.99%
H4ZL.DE
- 1D
- -0.02%
- 1M
- -0.95%
- YTD
- 6.32%
- 6M
- 5.87%
- 1Y
- 6.63%
- 3Y*
- 3.13%
- 5Y*
- 0.30%
- 10Y*
- 2.35%
ZPRP.DE vs. H4ZL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | -0.81% | 6.98% | -2.34% | 19.03% | -36.37% | 10.87% | -6.56% | 26.91% | -5.98% | 14.94% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 6.32% | -4.65% | 2.27% | 6.12% | -20.22% | 36.90% | -16.99% | 23.91% | -0.81% | -2.27% |
Correlation
The correlation between ZPRP.DE and H4ZL.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2015 | 0.64 |
The correlation between ZPRP.DE and H4ZL.DE has been stable across timeframes, ranging from 0.60 to 0.64 - a consistent structural relationship.
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Return for Risk
ZPRP.DE vs. H4ZL.DE — Risk / Return Rank
ZPRP.DE
H4ZL.DE
ZPRP.DE vs. H4ZL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) and HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.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.
| ZPRP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.11 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | 0.84 | -1.00 |
| Martin ratioReturn relative to average drawdown | -0.41 | 2.48 | -2.89 |
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
| ZPRP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.15 | 0.59 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | 0.02 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.05 | 0.14 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.29 | -0.21 |
Drawdowns
ZPRP.DE vs. H4ZL.DE - Drawdown Comparison
The maximum ZPRP.DE drawdown since its inception was -48.69%, which is greater than H4ZL.DE's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for ZPRP.DE and H4ZL.DE.
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Drawdown Indicators
| ZPRP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.69% | -41.97% | -6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -15.29% | -7.82% | -7.47% |
Max Drawdown (3Y)Largest decline over 3 years | -19.80% | -20.68% | +0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -48.69% | -30.45% | -18.24% |
Max Drawdown (10Y)Largest decline over 10 years | -48.69% | -41.97% | -6.72% |
Current DrawdownCurrent decline from peak | -26.29% | -13.81% | -12.48% |
Average DrawdownAverage peak-to-trough decline | -16.81% | -10.80% | -6.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.75% | 2.67% | +3.08% |
Volatility
ZPRP.DE vs. H4ZL.DE - Volatility Comparison
SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF (ZPRP.DE) has a higher volatility of 5.34% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) at 2.88%. This indicates that ZPRP.DE's price experiences larger fluctuations and is considered to be riskier than H4ZL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 2.88% | +2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 13.00% | 8.34% | +4.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.30% | 11.21% | +4.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.12% | 14.69% | +7.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.77% | 16.27% | +3.50% |
ZPRP.DE vs. H4ZL.DE - Expense Ratio Comparison
ZPRP.DE has a 0.30% expense ratio, which is higher than H4ZL.DE's 0.24% expense ratio.
Dividends
ZPRP.DE vs. H4ZL.DE - Dividend Comparison
Neither ZPRP.DE nor H4ZL.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 0.00% | 0.00% | 0.00% | 2.63% | 3.62% | 2.19% | 3.13% | 2.95% | 3.29% | 3.08% | 2.96% | 2.67% |
ZPRP.DE SPDR FTSE EPRA Europe ex UK Real Estate UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPRP.DE and H4ZL.DE have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZL.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZL.DE is cheaper with a 0.24% expense ratio, compared with 0.30% for ZPRP.DE.
ZPRP.DE tracks FTSE EPRA/NAREIT Developed Europe ex UK, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.30% for ZPRP.DE and 0.24% for H4ZL.DE.
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