ZPRX.DE vs. IWDA.AS
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and IWDA.AS (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted, while IWDA.AS is a Global Equities fund tracking the MSCI World Index. Both are passively managed. Over the past 10 years, ZPRX.DE returned 8.89%/yr vs 12.98%/yr for IWDA.AS. A 0.72 correlation means they provide meaningful diversification when combined. ZPRX.DE charges 0.30%/yr vs 0.20%/yr for IWDA.AS.
Performance
ZPRX.DE vs. IWDA.AS - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRX.DE achieves a 8.10% return, which is significantly lower than IWDA.AS's 10.11% return. Over the past 10 years, ZPRX.DE has underperformed IWDA.AS with an annualized return of 8.89%, while IWDA.AS has yielded a comparatively higher 12.98% annualized return.
ZPRX.DE
- 1D
- 1.97%
- 1M
- 3.41%
- YTD
- 8.10%
- 6M
- 11.78%
- 1Y
- 18.56%
- 3Y*
- 14.64%
- 5Y*
- 7.85%
- 10Y*
- 8.89%
IWDA.AS
- 1D
- 1.59%
- 1M
- 1.50%
- YTD
- 10.11%
- 6M
- 11.35%
- 1Y
- 23.74%
- 3Y*
- 16.75%
- 5Y*
- 12.46%
- 10Y*
- 12.98%
ZPRX.DE vs. IWDA.AS - 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 | 8.10% | 26.81% | 4.29% | 15.26% | -13.51% | 27.59% | -3.52% | 28.99% | -19.19% | 12.89% |
IWDA.AS iShares Core MSCI World UCITS ETF USD (Acc) | 10.11% | 7.08% | 27.23% | 19.89% | -13.54% | 32.54% | 6.20% | 29.58% | -4.16% | 7.49% |
Correlation
The correlation between ZPRX.DE and IWDA.AS is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.72 |
The correlation between ZPRX.DE and IWDA.AS shifts across timeframes, from 0.61 (3 years) to 0.72 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRX.DE vs. IWDA.AS — Risk / Return Rank
ZPRX.DE
IWDA.AS
ZPRX.DE vs. IWDA.AS - 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 Core MSCI World UCITS ETF USD (Acc) (IWDA.AS). 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 | IWDA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.39 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 3.57 | -2.09 |
| Martin ratioReturn relative to average drawdown | 5.45 | 14.14 | -8.69 |
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Drawdowns
ZPRX.DE vs. IWDA.AS - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, which is greater than IWDA.AS's maximum drawdown of -33.63%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and IWDA.AS.
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Drawdown Indicators
| ZPRX.DE | IWDA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -33.63% | -10.30% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -6.45% | -5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -21.59% | +5.64% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -21.59% | -5.93% |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | -33.63% | -10.30% |
Current DrawdownCurrent decline from peak | -1.25% | -1.19% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -4.24% | -3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.64% | +1.53% |
Volatility
ZPRX.DE vs. IWDA.AS - Volatility Comparison
SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a higher volatility of 4.25% compared to iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.AS) at 3.07%. This indicates that ZPRX.DE's price experiences larger fluctuations and is considered to be riskier than IWDA.AS 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 | IWDA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 3.07% | +1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 11.51% | 7.94% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.10% | 11.14% | +2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 14.12% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 15.00% | +3.10% |
ZPRX.DE vs. IWDA.AS - Expense Ratio Comparison
ZPRX.DE has a 0.30% expense ratio, which is higher than IWDA.AS's 0.20% expense ratio.
Dividends
ZPRX.DE vs. IWDA.AS - Dividend Comparison
Neither ZPRX.DE nor IWDA.AS has paid dividends to shareholders.
Frequently Asked Questions
ZPRX.DE and IWDA.AS have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IWDA.AS is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IWDA.AS is cheaper with a 0.20% expense ratio, compared with 0.30% for ZPRX.DE.
ZPRX.DE is categorized as Europe Equities, while IWDA.AS is Global Equities. ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while IWDA.AS tracks MSCI World Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for ZPRX.DE and 0.20% for IWDA.AS.
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