ZPRX.DE vs. H4ZZ.DE
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - ZPRX.DE tracks the MSCI Europe Small Cap Value Weighted while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past year, ZPRX.DE returned 17.51% vs 22.41% for H4ZZ.DE. A 0.79 correlation means they provide meaningful diversification when combined. ZPRX.DE charges 0.30%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
ZPRX.DE vs. H4ZZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRX.DE achieves a 6.94% return, which is significantly lower than H4ZZ.DE's 10.19% return.
ZPRX.DE
- 1D
- 0.24%
- 1M
- -1.32%
- YTD
- 6.94%
- 6M
- 8.58%
- 1Y
- 17.51%
- 3Y*
- 15.83%
- 5Y*
- 8.15%
- 10Y*
- 9.71%
H4ZZ.DE
- 1D
- 0.79%
- 1M
- 3.49%
- YTD
- 10.19%
- 6M
- 11.16%
- 1Y
- 22.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZPRX.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 6.94% | 26.81% | -4.66% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 10.19% | 22.35% | -2.42% |
Correlation
The correlation between ZPRX.DE and H4ZZ.DE is 0.77, 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 | 0.77 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.79 |
The correlation between ZPRX.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.
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Return for Risk
ZPRX.DE vs. H4ZZ.DE — Risk / Return Rank
ZPRX.DE
H4ZZ.DE
ZPRX.DE vs. H4ZZ.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 HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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.
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.
| ZPRX.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.26 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.04 | -0.54 |
| Martin ratioReturn relative to average drawdown | 5.49 | 7.07 | -1.58 |
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Drawdowns
ZPRX.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and H4ZZ.DE.
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Drawdown Indicators
| ZPRX.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -16.46% | -27.47% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -10.94% | -0.69% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | — | — |
Current DrawdownCurrent decline from peak | -2.30% | -0.83% | -1.47% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -2.66% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 3.16% | +0.02% |
Volatility
ZPRX.DE vs. H4ZZ.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) is 3.13%, while HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a volatility of 3.53%. This indicates that ZPRX.DE experiences smaller price fluctuations and is considered to be less risky than H4ZZ.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 | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 3.53% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | 13.18% | -1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.97% | 15.98% | -2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 16.81% | -0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.77% | 16.81% | +0.96% |
ZPRX.DE vs. H4ZZ.DE - Expense Ratio Comparison
ZPRX.DE has a 0.30% expense ratio, which is higher than H4ZZ.DE's 0.05% expense ratio.
Dividends
ZPRX.DE vs. H4ZZ.DE - Dividend Comparison
Neither ZPRX.DE nor H4ZZ.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRX.DE and H4ZZ.DE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.30% for ZPRX.DE.
ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.30% for ZPRX.DE and 0.05% for H4ZZ.DE.
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