ZPRV.DE vs. UUP
ZPRV.DE (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and UUP (Invesco DB US Dollar Index Bullish Fund) are both exchange-traded funds - ZPRV.DE is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while UUP is a Currency fund tracking the Deutsche Bank Long US Dollar Index (USDX) Futures Index. Both are passively managed. Over the past 10 years, ZPRV.DE returned 12.09%/yr vs 2.93%/yr for UUP. At a 0.14 correlation, their price movements are largely independent. ZPRV.DE charges 0.30%/yr vs 0.75%/yr for UUP.
Performance
ZPRV.DE vs. UUP - Performance Comparison
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Different Trading Currencies
ZPRV.DE is traded in EUR, while UUP is traded in USD. To make them comparable, the UUP values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZPRV.DE achieves a 17.92% return, which is significantly higher than UUP's 4.84% return. Over the past 10 years, ZPRV.DE has outperformed UUP with an annualized return of 12.09%, while UUP has yielded a comparatively lower 2.93% annualized return.
ZPRV.DE
- 1D
- -0.11%
- 1M
- 7.03%
- YTD
- 17.92%
- 6M
- 17.41%
- 1Y
- 37.90%
- 3Y*
- 16.83%
- 5Y*
- 11.12%
- 10Y*
- 12.09%
UUP
- 1D
- -0.15%
- 1M
- 1.01%
- YTD
- 4.84%
- 6M
- 4.99%
- 1Y
- 6.07%
- 3Y*
- 2.53%
- 5Y*
- 6.45%
- 10Y*
- 2.93%
ZPRV.DE vs. UUP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 17.92% | 2.99% | 14.07% | 19.11% | -5.40% | 48.22% | -1.86% | 27.40% | -11.77% | -3.75% |
UUP Invesco DB US Dollar Index Bullish Fund | 4.84% | -16.26% | 20.99% | 0.52% | 16.24% | 13.64% | -14.36% | 6.44% | 12.07% | -20.27% |
Correlation
The correlation between ZPRV.DE and UUP is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.14 |
The correlation between ZPRV.DE and UUP shifts across timeframes, from -0.02 (5 years) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRV.DE vs. UUP — Risk / Return Rank
ZPRV.DE
UUP
ZPRV.DE vs. UUP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) and Invesco DB US Dollar Index Bullish Fund (UUP). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ZPRV.DE | UUP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.90 | ||
| Sortino ratioReturn per unit of downside risk | +2.51 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.10 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 6.43 | 0.78 | +5.65 |
| Martin ratioReturn relative to average drawdown | 20.11 | 1.90 | +18.21 |
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Drawdowns
ZPRV.DE vs. UUP - Drawdown Comparison
The maximum ZPRV.DE drawdown since its inception was -46.04%, which is greater than UUP's maximum drawdown of -34.79%. Use the drawdown chart below to compare losses from any high point for ZPRV.DE and UUP.
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Drawdown Indicators
| ZPRV.DE | UUP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.04% | -34.79% | -11.25% |
Max Drawdown (1Y)Largest decline over 1 year | -5.87% | -7.84% | +1.97% |
Max Drawdown (3Y)Largest decline over 3 years | -31.14% | -22.00% | -9.14% |
Max Drawdown (5Y)Largest decline over 5 years | -31.14% | -22.51% | -8.63% |
Max Drawdown (10Y)Largest decline over 10 years | -46.04% | -27.97% | -18.07% |
Current DrawdownCurrent decline from peak | -0.11% | -14.40% | +14.29% |
Average DrawdownAverage peak-to-trough decline | -9.12% | -15.57% | +6.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.88% | 3.20% | -1.32% |
Volatility
ZPRV.DE vs. UUP - Volatility Comparison
SPDR MSCI USA Small Cap Value Weighted UCITS ETF (ZPRV.DE) has a higher volatility of 2.97% compared to Invesco DB US Dollar Index Bullish Fund (UUP) at 2.40%. This indicates that ZPRV.DE's price experiences larger fluctuations and is considered to be riskier than UUP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRV.DE | UUP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 2.40% | +0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 9.66% | 8.41% | +1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.70% | 12.10% | +3.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.38% | 14.73% | +5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.87% | 14.10% | +8.77% |
ZPRV.DE vs. UUP - Expense Ratio Comparison
ZPRV.DE has a 0.30% expense ratio, which is lower than UUP's 0.75% expense ratio.
Dividends
ZPRV.DE vs. UUP - Dividend Comparison
ZPRV.DE has not paid dividends to shareholders, while UUP's dividend yield for the trailing twelve months is around 3.31%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
UUP Invesco DB US Dollar Index Bullish Fund | 3.31% | 3.43% | 4.48% | 6.44% | 0.89% | 0.00% | 0.00% | 2.03% | 1.08% | 0.10% |
ZPRV.DE SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPRV.DE and UUP have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZPRV.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRV.DE is cheaper with a 0.30% expense ratio, compared with 0.75% for UUP.
ZPRV.DE is categorized as Small Cap Value Equities, while UUP is Currency. ZPRV.DE tracks MSCI USA Small Cap Value Weighted Index, while UUP tracks Deutsche Bank Long US Dollar Index (USDX) Futures Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for ZPRV.DE and 0.75% for UUP.
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