ZPRS.DE vs. SPSM
ZPRS.DE (SPDR MSCI World Small Cap UCITS ETF) and SPSM (SPDR Portfolio S&P 600 Small Cap ETF) are both exchange-traded funds - ZPRS.DE is a Global Equities fund tracking the MSCI World Small Cap, while SPSM is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, ZPRS.DE returned 9.85%/yr vs 10.54%/yr for SPSM. A 0.61 correlation means they provide meaningful diversification when combined. ZPRS.DE charges 0.45%/yr vs 0.05%/yr for SPSM.
Performance
ZPRS.DE vs. SPSM - Performance Comparison
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Different Trading Currencies
ZPRS.DE is traded in EUR, while SPSM is traded in USD. To make them comparable, the SPSM values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZPRS.DE achieves a 14.17% return, which is significantly lower than SPSM's 16.66% return. Over the past 10 years, ZPRS.DE has underperformed SPSM with an annualized return of 9.85%, while SPSM has yielded a comparatively higher 10.54% annualized return.
ZPRS.DE
- 1D
- -0.25%
- 1M
- 4.47%
- YTD
- 14.17%
- 6M
- 16.07%
- 1Y
- 29.50%
- 3Y*
- 14.55%
- 5Y*
- 7.77%
- 10Y*
- 9.85%
SPSM
- 1D
- -0.71%
- 1M
- 2.35%
- YTD
- 16.66%
- 6M
- 14.82%
- 1Y
- 28.88%
- 3Y*
- 11.39%
- 5Y*
- 6.71%
- 10Y*
- 10.54%
ZPRS.DE vs. SPSM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRS.DE SPDR MSCI World Small Cap UCITS ETF | 14.17% | 7.37% | 13.79% | 12.57% | -13.88% | 25.10% | 5.40% | 30.21% | -11.45% | 7.16% |
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 16.66% | -6.48% | 15.71% | 12.63% | -10.92% | 36.15% | 2.48% | 28.70% | -7.00% | 1.25% |
Correlation
The correlation between ZPRS.DE and SPSM is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Nov 29, 2013 | 0.61 |
The correlation between ZPRS.DE and SPSM has been stable across timeframes, ranging from 0.61 to 0.65 - a consistent structural relationship.
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Return for Risk
ZPRS.DE vs. SPSM — Risk / Return Rank
ZPRS.DE
SPSM
ZPRS.DE vs. SPSM - 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 Portfolio S&P 600 Small Cap ETF (SPSM). 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 | SPSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.29 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.07 | 4.29 | -0.22 |
| Martin ratioReturn relative to average drawdown | 15.33 | 13.65 | +1.69 |
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 | SPSM | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 1.69 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.32 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.45 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.47 | +0.12 |
Drawdowns
ZPRS.DE vs. SPSM - Drawdown Comparison
The maximum ZPRS.DE drawdown since its inception was -40.22%, roughly equal to the maximum SPSM drawdown of -41.38%. Use the drawdown chart below to compare losses from any high point for ZPRS.DE and SPSM.
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Drawdown Indicators
| ZPRS.DE | SPSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.22% | -41.38% | +1.16% |
Max Drawdown (1Y)Largest decline over 1 year | -7.22% | -6.76% | -0.46% |
Max Drawdown (3Y)Largest decline over 3 years | -24.49% | -31.59% | +7.10% |
Max Drawdown (5Y)Largest decline over 5 years | -24.49% | -31.59% | +7.10% |
Max Drawdown (10Y)Largest decline over 10 years | -40.22% | -41.38% | +1.16% |
Current DrawdownCurrent decline from peak | -0.25% | -0.91% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -6.41% | -7.96% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.92% | 2.12% | -0.20% |
Volatility
ZPRS.DE vs. SPSM - Volatility Comparison
The current volatility for SPDR MSCI World Small Cap UCITS ETF (ZPRS.DE) is 3.75%, while SPDR Portfolio S&P 600 Small Cap ETF (SPSM) has a volatility of 4.00%. This indicates that ZPRS.DE experiences smaller price fluctuations and is considered to be less risky than SPSM 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 | SPSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 4.00% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 9.69% | 11.40% | -1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.88% | 17.27% | -3.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 21.01% | -4.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.26% | 23.25% | -5.99% |
ZPRS.DE vs. SPSM - Expense Ratio Comparison
ZPRS.DE has a 0.45% expense ratio, which is higher than SPSM's 0.05% expense ratio.
Dividends
ZPRS.DE vs. SPSM - Dividend Comparison
ZPRS.DE has not paid dividends to shareholders, while SPSM's dividend yield for the trailing twelve months is around 1.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.43% | 1.62% | 1.85% | 1.61% | 1.38% | 1.40% | 1.34% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% |
ZPRS.DE SPDR MSCI World Small Cap 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
ZPRS.DE and SPSM have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPSM is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPSM is cheaper with a 0.05% expense ratio, compared with 0.45% for ZPRS.DE.
ZPRS.DE is categorized as Global Equities, while SPSM is Small Cap Blend Equities. ZPRS.DE tracks MSCI World Small Cap, while SPSM tracks S&P SmallCap 600 Index. Their fees differ too: 0.45% for ZPRS.DE and 0.05% for SPSM.
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