ZPRX.DE vs. CEMT.DE
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and CEMT.DE (iShares Edge MSCI Europe Size Factor UCITS ETF) are both Europe Equities funds - ZPRX.DE tracks the MSCI Europe Small Cap Value Weighted while CEMT.DE tracks the MSCI Europe Mid Cap Equal Weighted. Both are passively managed. Over the past 10 years, ZPRX.DE returned 8.15%/yr vs 6.44%/yr for CEMT.DE. Their correlation of 0.89 suggests significant overlap in exposure. ZPRX.DE charges 0.30%/yr vs 0.25%/yr for CEMT.DE.
Performance
ZPRX.DE vs. CEMT.DE - Performance Comparison
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Returns By Period
Over the past 10 years, ZPRX.DE has outperformed CEMT.DE with an annualized return of 8.15%, while CEMT.DE has yielded a comparatively lower 6.44% annualized return.
ZPRX.DE
- 1D
- 0.33%
- 1M
- 3.14%
- YTD
- 7.81%
- 6M
- 11.48%
- 1Y
- 17.16%
- 3Y*
- 15.09%
- 5Y*
- 7.77%
- 10Y*
- 8.15%
CEMT.DE
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 4.36%
- 3Y*
- 9.41%
- 5Y*
- 4.08%
- 10Y*
- 6.44%
ZPRX.DE vs. CEMT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.81% | 26.81% | 4.28% | 15.28% | -13.52% | 27.58% | -3.52% | 29.02% | -19.20% | 12.89% |
CEMT.DE iShares Edge MSCI Europe Size Factor UCITS ETF | 0.00% | 17.53% | 5.08% | 14.19% | -18.24% | 19.63% | 1.61% | 28.81% | -13.99% | 13.62% |
Correlation
The correlation between ZPRX.DE and CEMT.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Feb 20, 2015 | 0.89 |
Over the past year, the correlation between ZPRX.DE and CEMT.DE has dropped to 0.46 - well below their long-term average of 0.89, suggesting their price drivers have been diverging.
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Return for Risk
ZPRX.DE vs. CEMT.DE — Risk / Return Rank
ZPRX.DE
CEMT.DE
ZPRX.DE vs. CEMT.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) and iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.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.
| ZPRX.DE | CEMT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 1.10 | +0.37 |
| Martin ratioReturn relative to average drawdown | 5.42 | 4.03 | +1.39 |
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
| ZPRX.DE | CEMT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 0.77 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.28 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.40 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.37 | +0.02 |
Drawdowns
ZPRX.DE vs. CEMT.DE - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, which is greater than CEMT.DE's maximum drawdown of -37.66%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and CEMT.DE.
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Drawdown Indicators
| ZPRX.DE | CEMT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -37.66% | -6.27% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -4.26% | -7.37% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -14.36% | -1.59% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -29.23% | +1.71% |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | -37.66% | -6.27% |
Current DrawdownCurrent decline from peak | -1.51% | -0.39% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -7.08% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 1.16% | +2.00% |
Volatility
ZPRX.DE vs. CEMT.DE - Volatility Comparison
SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a higher volatility of 4.17% compared to iShares Edge MSCI Europe Size Factor UCITS ETF (CEMT.DE) at 0.00%. This indicates that ZPRX.DE's price experiences larger fluctuations and is considered to be riskier than CEMT.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPRX.DE | CEMT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 0.00% | +4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.30% | 0.00% | +11.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.94% | 6.11% | +7.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.69% | 14.61% | +2.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.14% | 16.11% | +2.03% |
ZPRX.DE vs. CEMT.DE - Expense Ratio Comparison
ZPRX.DE has a 0.30% expense ratio, which is higher than CEMT.DE's 0.25% expense ratio.
Dividends
ZPRX.DE vs. CEMT.DE - Dividend Comparison
Neither ZPRX.DE nor CEMT.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRX.DE and CEMT.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CEMT.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CEMT.DE is cheaper with a 0.25% expense ratio, compared with 0.30% for ZPRX.DE.
ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while CEMT.DE tracks MSCI Europe Mid Cap Equal Weighted. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for ZPRX.DE and 0.25% for CEMT.DE.
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