ZPRS.DE vs. SPPW.DE
ZPRS.DE (SPDR MSCI World Small Cap UCITS ETF) and SPPW.DE (SPDR MSCI World UCITS ETF) are both Global Equities funds from State Street - ZPRS.DE tracks the MSCI World Small Cap while SPPW.DE tracks the MSCI World. Both are passively managed. Over the past 5 years, ZPRS.DE returned 7.87%/yr vs 13.03%/yr for SPPW.DE. Their correlation of 0.86 suggests significant overlap in exposure. ZPRS.DE charges 0.45%/yr vs 0.12%/yr for SPPW.DE.
Performance
ZPRS.DE vs. SPPW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRS.DE achieves a 14.70% return, which is significantly higher than SPPW.DE's 10.85% return.
ZPRS.DE
- 1D
- 0.46%
- 1M
- 3.86%
- YTD
- 14.70%
- 6M
- 15.69%
- 1Y
- 30.01%
- 3Y*
- 14.74%
- 5Y*
- 7.87%
- 10Y*
- 9.81%
SPPW.DE
- 1D
- -0.31%
- 1M
- 4.83%
- YTD
- 10.85%
- 6M
- 11.34%
- 1Y
- 23.90%
- 3Y*
- 17.79%
- 5Y*
- 13.03%
- 10Y*
- —
ZPRS.DE vs. SPPW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ZPRS.DE SPDR MSCI World Small Cap UCITS ETF | 14.70% | 7.37% | 13.79% | 12.57% | -13.88% | 25.10% | 5.40% | 11.63% |
SPPW.DE SPDR MSCI World UCITS ETF | 10.85% | 8.03% | 26.09% | 20.25% | -13.28% | 32.66% | 5.27% | 17.24% |
Correlation
The correlation between ZPRS.DE and SPPW.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Mar 4, 2019 | 0.86 |
The correlation between ZPRS.DE and SPPW.DE has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.
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Return for Risk
ZPRS.DE vs. SPPW.DE — Risk / Return Rank
ZPRS.DE
SPPW.DE
ZPRS.DE vs. SPPW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Small Cap UCITS ETF (ZPRS.DE) and SPDR MSCI World UCITS ETF (SPPW.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.
| ZPRS.DE | SPPW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 3.66 | +0.48 |
| Martin ratioReturn relative to average drawdown | 15.60 | 14.69 | +0.91 |
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
| ZPRS.DE | SPPW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.16 | 2.16 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.92 | -0.45 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.86 | -0.26 |
Drawdowns
ZPRS.DE vs. SPPW.DE - Drawdown Comparison
The maximum ZPRS.DE drawdown since its inception was -40.22%, which is greater than SPPW.DE's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for ZPRS.DE and SPPW.DE.
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Drawdown Indicators
| ZPRS.DE | SPPW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -33.69% | -6.53% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -6.51% | -0.71% |
Max Drawdown (3Y)Largest decline over 3 years | -24.49% | -21.62% | -2.87% |
Max Drawdown (5Y)Largest decline over 5 years | -24.49% | -21.62% | -2.87% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.31% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -6.41% | -4.43% | -1.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 1.63% | +0.29% |
Volatility
ZPRS.DE vs. SPPW.DE - Volatility Comparison
SPDR MSCI World Small Cap UCITS ETF (ZPRS.DE) has a higher volatility of 3.55% compared to SPDR MSCI World UCITS ETF (SPPW.DE) at 2.70%. This indicates that ZPRS.DE's price experiences larger fluctuations and is considered to be riskier than SPPW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRS.DE | SPPW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 2.70% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 7.62% | +2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.83% | 11.11% | +2.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 14.06% | +2.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 16.08% | +1.18% |
ZPRS.DE vs. SPPW.DE - Expense Ratio Comparison
ZPRS.DE has a 0.45% expense ratio, which is higher than SPPW.DE's 0.12% expense ratio.
Dividends
ZPRS.DE vs. SPPW.DE - Dividend Comparison
Neither ZPRS.DE nor SPPW.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRS.DE and SPPW.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPPW.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPPW.DE is cheaper with a 0.12% expense ratio, compared with 0.45% for ZPRS.DE.
ZPRS.DE tracks MSCI World Small Cap, while SPPW.DE tracks MSCI World. Their fees differ too: 0.45% for ZPRS.DE and 0.12% for SPPW.DE.
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