ZPRR.DE vs. SMLK.DE
ZPRR.DE (SPDR Russell 2000 US Small Cap UCITS ETF) and SMLK.DE (Invesco S&P SmallCap 600 UCITS ETF A) are both Small Cap Blend Equities funds - ZPRR.DE tracks the Russell 2000® while SMLK.DE tracks the S&P SmallCap 600. Both are passively managed. Over the past 5 years, ZPRR.DE returned 7.11%/yr vs 6.92%/yr for SMLK.DE. With a 0.96 correlation, they move nearly in lockstep. ZPRR.DE charges 0.30%/yr vs 0.14%/yr for SMLK.DE.
Performance
ZPRR.DE vs. SMLK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRR.DE achieves a 17.93% return, which is significantly higher than SMLK.DE's 15.73% return.
ZPRR.DE
- 1D
- 0.93%
- 1M
- 4.09%
- YTD
- 17.93%
- 6M
- 16.88%
- 1Y
- 38.46%
- 3Y*
- 15.40%
- 5Y*
- 7.11%
- 10Y*
- 10.37%
SMLK.DE
- 1D
- 0.95%
- 1M
- 2.49%
- YTD
- 15.73%
- 6M
- 16.04%
- 1Y
- 31.03%
- 3Y*
- 12.46%
- 5Y*
- 6.92%
- 10Y*
- —
ZPRR.DE vs. SMLK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ZPRR.DE SPDR Russell 2000 US Small Cap UCITS ETF | 17.93% | 1.37% | 15.82% | 14.82% | -16.60% | 5.22% |
SMLK.DE Invesco S&P SmallCap 600 UCITS ETF A | 15.73% | -4.02% | 13.30% | 13.97% | -11.83% | 10.98% |
Correlation
The correlation between ZPRR.DE and SMLK.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.96 |
The correlation between ZPRR.DE and SMLK.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
ZPRR.DE vs. SMLK.DE — Risk / Return Rank
ZPRR.DE
SMLK.DE
ZPRR.DE vs. SMLK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 2000 US Small Cap UCITS ETF (ZPRR.DE) and Invesco S&P SmallCap 600 UCITS ETF A (SMLK.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.
| ZPRR.DE | SMLK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.33 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.53 | 5.02 | -0.49 |
| Martin ratioReturn relative to average drawdown | 13.24 | 14.18 | -0.94 |
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
| ZPRR.DE | SMLK.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.10 | 1.88 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.34 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.34 | +0.14 |
Drawdowns
ZPRR.DE vs. SMLK.DE - Drawdown Comparison
The maximum ZPRR.DE drawdown since its inception was -41.20%, which is greater than SMLK.DE's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for ZPRR.DE and SMLK.DE.
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Drawdown Indicators
| ZPRR.DE | SMLK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.20% | -32.69% | -8.51% |
Max Drawdown (1Y)Largest decline over 1 year | -8.44% | -6.15% | -2.29% |
Max Drawdown (3Y)Largest decline over 3 years | -32.54% | -32.69% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -32.54% | -32.69% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -41.20% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.39% | -8.96% | -0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.18% | +0.72% |
Volatility
ZPRR.DE vs. SMLK.DE - Volatility Comparison
SPDR Russell 2000 US Small Cap UCITS ETF (ZPRR.DE) has a higher volatility of 5.38% compared to Invesco S&P SmallCap 600 UCITS ETF A (SMLK.DE) at 4.06%. This indicates that ZPRR.DE's price experiences larger fluctuations and is considered to be riskier than SMLK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRR.DE | SMLK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 4.06% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.26% | 10.55% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.20% | 16.46% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.98% | 20.01% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.60% | 19.98% | +1.62% |
ZPRR.DE vs. SMLK.DE - Expense Ratio Comparison
ZPRR.DE has a 0.30% expense ratio, which is higher than SMLK.DE's 0.14% expense ratio.
Dividends
ZPRR.DE vs. SMLK.DE - Dividend Comparison
Neither ZPRR.DE nor SMLK.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, ZPRR.DE and SMLK.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SMLK.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SMLK.DE is cheaper with a 0.14% expense ratio, compared with 0.30% for ZPRR.DE.
ZPRR.DE tracks Russell 2000®, while SMLK.DE tracks S&P SmallCap 600. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for ZPRR.DE and 0.14% for SMLK.DE.
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