ZPRX.DE vs. IAU
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and IAU (iShares Gold Trust) are both exchange-traded funds - ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted, while IAU is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 10 years, ZPRX.DE returned 8.79%/yr vs 12.18%/yr for IAU. At a correlation of -0.00, they often move in opposite directions. ZPRX.DE charges 0.30%/yr vs 0.25%/yr for IAU.
Performance
ZPRX.DE vs. IAU - Performance Comparison
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Different Trading Currencies
ZPRX.DE is traded in EUR, while IAU is traded in USD. To make them comparable, the IAU values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ZPRX.DE achieves a 8.58% return, which is significantly higher than IAU's 1.43% return. Over the past 10 years, ZPRX.DE has underperformed IAU with an annualized return of 8.79%, while IAU has yielded a comparatively higher 12.18% annualized return.
ZPRX.DE
- 1D
- 0.45%
- 1M
- 3.87%
- YTD
- 8.58%
- 6M
- 11.26%
- 1Y
- 19.08%
- 3Y*
- 14.83%
- 5Y*
- 8.17%
- 10Y*
- 8.79%
IAU
- 1D
- 2.39%
- 1M
- -4.69%
- YTD
- 1.43%
- 6M
- 1.60%
- 1Y
- 25.05%
- 3Y*
- 27.41%
- 5Y*
- 19.28%
- 10Y*
- 12.18%
ZPRX.DE vs. IAU - 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 | 8.58% | 26.81% | 4.29% | 15.26% | -13.51% | 27.59% | -3.52% | 28.99% | -19.19% | 12.89% |
IAU iShares Gold Trust | 1.43% | 44.49% | 35.22% | 9.45% | 5.53% | 3.18% | 14.73% | 20.65% | 2.85% | -0.97% |
Correlation
The correlation between ZPRX.DE and IAU is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | -0.00 |
The correlation between ZPRX.DE and IAU shifts across timeframes, from -0.02 (10 years) to 0.21 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRX.DE vs. IAU — Risk / Return Rank
ZPRX.DE
IAU
ZPRX.DE vs. IAU - 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 Gold Trust (IAU). 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 | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.20 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.12 | +0.51 |
| Martin ratioReturn relative to average drawdown | 6.01 | 3.22 | +2.79 |
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Drawdowns
ZPRX.DE vs. IAU - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, which is greater than IAU's maximum drawdown of -37.42%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and IAU.
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Drawdown Indicators
| ZPRX.DE | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -37.42% | -6.51% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -22.47% | +10.84% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -22.47% | +6.52% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -22.47% | -5.05% |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | -22.47% | -21.46% |
Current DrawdownCurrent decline from peak | -0.81% | -18.38% | +17.57% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -12.04% | +4.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 7.86% | -4.69% |
Volatility
ZPRX.DE vs. IAU - Volatility Comparison
The current volatility for SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) is 3.87%, while iShares Gold Trust (IAU) has a volatility of 7.39%. This indicates that ZPRX.DE experiences smaller price fluctuations and is considered to be less risky than IAU 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 | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 7.39% | -3.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | 22.57% | -11.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 25.77% | -11.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 16.87% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 14.98% | +3.11% |
ZPRX.DE vs. IAU - Expense Ratio Comparison
ZPRX.DE has a 0.30% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
ZPRX.DE vs. IAU - Dividend Comparison
Neither ZPRX.DE nor IAU has paid dividends to shareholders.
Frequently Asked Questions
ZPRX.DE and IAU have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IAU is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IAU is cheaper with a 0.25% expense ratio, compared with 0.30% for ZPRX.DE.
ZPRX.DE is categorized as Europe Equities, while IAU is Gold. ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while IAU tracks LBMA Gold Price. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for ZPRX.DE and 0.25% for IAU.
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