ZPRW.DE vs. FLXD.DE

Last updated Jun 5, 2026

ZPRW.DE (SPDR MSCI Europe Value UCITS ETF) and FLXD.DE (Franklin European Quality Dividend UCITS ETF) are both Europe Equities funds - ZPRW.DE tracks the MSCI Europe Value Exposure Select while FLXD.DE tracks the MSCI Europe High Div Yld NR EUR. Both are passively managed. Over the past 5 years, ZPRW.DE returned 13.99%/yr vs 12.10%/yr for FLXD.DE. A 0.66 correlation means they provide meaningful diversification when combined. ZPRW.DE charges 0.20%/yr vs 0.25%/yr for FLXD.DE.

Performance

ZPRW.DE vs. FLXD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Value UCITS ETF (ZPRW.DE) and Franklin European Quality Dividend UCITS ETF (FLXD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ZPRW.DE achieves a 11.85% return, which is significantly higher than FLXD.DE's 10.13% return.

ZPRW.DE

• 1D: 0.72%
• 1M: 3.83%
• YTD: 11.85%
• 6M: 15.32%
• 1Y: 31.00%
• 3Y*: 20.72%
• 5Y*: 13.99%
• 10Y*: 10.74%

FLXD.DE

• 1D: 0.23%
• 1M: -0.45%
• YTD: 10.13%
• 6M: 13.08%
• 1Y: 16.52%
• 3Y*: 17.99%
• 5Y*: 12.10%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ZPRW.DE vs. FLXD.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ZPRW.DE SPDR MSCI Europe Value UCITS ETF	11.85%	35.70%	8.86%	13.72%	-4.74%	27.39%	-7.65%	23.73%	-14.98%	5.18%
FLXD.DE Franklin European Quality Dividend UCITS ETF	10.13%	24.53%	12.30%	10.31%	-0.48%	16.07%	-3.54%	23.52%	-7.81%	0.44%

Correlation

The correlation between ZPRW.DE and FLXD.DE is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017	0.66

The correlation between ZPRW.DE and FLXD.DE shifts across timeframes, from 0.66 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ZPRW.DE vs. FLXD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZPRW.DE

ZPRW.DE Risk / Return Rank: 69
ZPRW.DE Sharpe Ratio Rank: 71
ZPRW.DE Sortino Ratio Rank: 71
ZPRW.DE Omega Ratio Rank: 70
ZPRW.DE Calmar Ratio Rank: 68
ZPRW.DE Martin Ratio Rank: 68

FLXD.DE

FLXD.DE Risk / Return Rank: 63
FLXD.DE Sharpe Ratio Rank: 57
FLXD.DE Sortino Ratio Rank: 58
FLXD.DE Omega Ratio Rank: 56
FLXD.DE Calmar Ratio Rank: 80
FLXD.DE Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZPRW.DE vs. FLXD.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Value UCITS ETF (ZPRW.DE) and Franklin European Quality Dividend UCITS ETF (FLXD.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.

	ZPRW.DE	FLXD.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.89	+0.39
Sortino ratio: Return per unit of downside risk	3.16	2.70	+0.46
Omega ratio: Gain probability vs. loss probability	1.41	1.34	+0.07
Calmar ratio: Return relative to maximum drawdown	3.33	4.09	-0.76
Martin ratio: Return relative to average drawdown	12.39	11.21	+1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZPRW.DE vs. FLXD.DE - Sharpe Ratio Comparison

The current ZPRW.DE Sharpe Ratio is 2.28, which is comparable to the FLXD.DE Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of ZPRW.DE and FLXD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ZPRW.DE	FLXD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.89	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	1.03	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.65	-0.20

Drawdowns

ZPRW.DE vs. FLXD.DE - Drawdown Comparison

The maximum ZPRW.DE drawdown since its inception was -39.54%, which is greater than FLXD.DE's maximum drawdown of -35.10%. Use the drawdown chart below to compare losses from any high point for ZPRW.DE and FLXD.DE.

Drawdown Indicators

	ZPRW.DE	FLXD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-39.54%	-35.10%	-4.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.27%	-4.02%	-5.25%
Max Drawdown (3Y) Largest decline over 3 years	-17.04%	-10.07%	-6.97%
Max Drawdown (5Y) Largest decline over 5 years	-18.41%	-14.19%	-4.22%
Max Drawdown (10Y) Largest decline over 10 years	-39.54%	—	—
Current Drawdown Current decline from peak	-1.75%	-3.80%	+2.05%
Average Drawdown Average peak-to-trough decline	-6.92%	-3.88%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	1.47%	+1.03%

Volatility

ZPRW.DE vs. FLXD.DE - Volatility Comparison

SPDR MSCI Europe Value UCITS ETF (ZPRW.DE) has a higher volatility of 4.40% compared to Franklin European Quality Dividend UCITS ETF (FLXD.DE) at 3.50%. This indicates that ZPRW.DE's price experiences larger fluctuations and is considered to be riskier than FLXD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZPRW.DE	FLXD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	3.50%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	7.02%	+3.82%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	8.70%	+4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.89%	11.66%	+3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.54%	14.11%	+3.43%

ZPRW.DE vs. FLXD.DE - Expense Ratio Comparison

ZPRW.DE has a 0.20% expense ratio, which is lower than FLXD.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ZPRW.DE vs. FLXD.DE - Dividend Comparison

ZPRW.DE has not paid dividends to shareholders, while FLXD.DE's dividend yield for the trailing twelve months is around 3.78%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLXD.DE Franklin European Quality Dividend UCITS ETF	3.78%	4.28%	4.31%	4.99%	5.20%	4.61%	3.48%	4.38%	5.45%	0.72%
ZPRW.DE SPDR MSCI Europe Value 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

Can I hold both ZPRW.DE and FLXD.DE in my portfolio?

ZPRW.DE and FLXD.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ZPRW.DE or FLXD.DE?

On fees, ZPRW.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ZPRW.DE or FLXD.DE?

ZPRW.DE is cheaper with a 0.20% expense ratio, compared with 0.25% for FLXD.DE.

What is the main difference between ZPRW.DE and FLXD.DE?

ZPRW.DE tracks MSCI Europe Value Exposure Select, while FLXD.DE tracks MSCI Europe High Div Yld NR EUR. They also come from different issuers: State Street and Franklin Templeton. Their fees differ too: 0.20% for ZPRW.DE and 0.25% for FLXD.DE.