ZPRW.DE vs. IBCJ.DE
ZPRW.DE (SPDR MSCI Europe Value UCITS ETF) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - ZPRW.DE tracks the MSCI Europe Value Exposure Select while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, ZPRW.DE returned 10.74%/yr vs 9.17%/yr for IBCJ.DE. At a 0.50 correlation, their price movements are largely independent. ZPRW.DE charges 0.20%/yr vs 0.74%/yr for IBCJ.DE.
Performance
ZPRW.DE vs. IBCJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRW.DE achieves a 11.85% return, which is significantly lower than IBCJ.DE's 16.30% return. Over the past 10 years, ZPRW.DE has outperformed IBCJ.DE with an annualized return of 10.74%, while IBCJ.DE has yielded a comparatively lower 9.17% annualized 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%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 5.66%
- YTD
- 16.30%
- 6M
- 25.77%
- 1Y
- 38.98%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
ZPRW.DE vs. IBCJ.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% | 10.96% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between ZPRW.DE and IBCJ.DE is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015 | 0.50 |
The correlation between ZPRW.DE and IBCJ.DE has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.
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Return for Risk
ZPRW.DE vs. IBCJ.DE — Risk / Return Rank
ZPRW.DE
IBCJ.DE
ZPRW.DE vs. IBCJ.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 iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.28 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 3.90 | -0.57 |
| Martin ratioReturn relative to average drawdown | 12.39 | 9.60 | +2.79 |
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
| ZPRW.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.28 | 1.65 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.93 | 0.55 | +0.38 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | 0.36 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.15 | +0.31 |
Drawdowns
ZPRW.DE vs. IBCJ.DE - Drawdown Comparison
The maximum ZPRW.DE drawdown since its inception was -39.54%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for ZPRW.DE and IBCJ.DE.
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Drawdown Indicators
| ZPRW.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.54% | -56.11% | +16.57% |
Max Drawdown (1Y)Largest decline over 1 year | -9.27% | -9.96% | +0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -17.04% | -18.47% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -18.41% | -47.31% | +28.90% |
Max Drawdown (10Y)Largest decline over 10 years | -39.54% | -56.11% | +16.57% |
Current DrawdownCurrent decline from peak | -1.75% | -1.16% | -0.59% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -19.38% | +12.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 4.05% | -1.55% |
Volatility
ZPRW.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe Value UCITS ETF (ZPRW.DE) is 4.40%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that ZPRW.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRW.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 7.13% | -2.73% |
Volatility (6M)Calculated over the trailing 6-month period | 10.84% | 17.61% | -6.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.53% | 23.48% | -9.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.89% | 26.72% | -11.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.54% | 25.15% | -7.61% |
ZPRW.DE vs. IBCJ.DE - Expense Ratio Comparison
ZPRW.DE has a 0.20% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
ZPRW.DE vs. IBCJ.DE - Dividend Comparison
Neither ZPRW.DE nor IBCJ.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRW.DE and IBCJ.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
ZPRW.DE is cheaper with a 0.20% expense ratio, compared with 0.74% for IBCJ.DE.
ZPRW.DE tracks MSCI Europe Value Exposure Select, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: State Street and iShares. Their fees differ too: 0.20% for ZPRW.DE and 0.74% for IBCJ.DE.
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