ZPRX.DE vs. USSC.L
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted, while USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index. Both are passively managed. Over the past 10 years, ZPRX.DE returned 8.89%/yr vs 12.22%/yr for USSC.L. A 0.66 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
ZPRX.DE vs. USSC.L - Performance Comparison
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Different Trading Currencies
ZPRX.DE is traded in EUR, while USSC.L is traded in USD. To make them comparable, the USSC.L 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 8.10% return, which is significantly lower than USSC.L's 18.50% return. Over the past 10 years, ZPRX.DE has underperformed USSC.L with an annualized return of 8.89%, while USSC.L has yielded a comparatively higher 12.22% 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%
USSC.L
- 1D
- 2.44%
- 1M
- 5.90%
- YTD
- 18.50%
- 6M
- 16.38%
- 1Y
- 37.99%
- 3Y*
- 16.02%
- 5Y*
- 11.08%
- 10Y*
- 12.22%
ZPRX.DE vs. USSC.L - 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% |
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF | 18.50% | 1.11% | 15.48% | 19.49% | -4.57% | 45.33% | -0.20% | 25.95% | -11.33% | -3.69% |
Correlation
The correlation between ZPRX.DE and USSC.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.66 |
The correlation between ZPRX.DE and USSC.L has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.
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Return for Risk
ZPRX.DE vs. USSC.L — Risk / Return Rank
ZPRX.DE
USSC.L
ZPRX.DE vs. USSC.L - 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 SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L). 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 | USSC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.41 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 6.05 | -4.57 |
| Martin ratioReturn relative to average drawdown | 5.45 | 18.75 | -13.30 |
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Drawdowns
ZPRX.DE vs. USSC.L - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, roughly equal to the maximum USSC.L drawdown of -45.80%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and USSC.L.
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Drawdown Indicators
| ZPRX.DE | USSC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -45.80% | +1.87% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -6.26% | -5.37% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -31.12% | +15.17% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -31.12% | +3.60% |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | -45.80% | +1.87% |
Current DrawdownCurrent decline from peak | -1.25% | 0.00% | -1.25% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -8.60% | +0.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 2.02% | +1.15% |
Volatility
ZPRX.DE vs. USSC.L - Volatility Comparison
SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a higher volatility of 4.25% compared to SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) at 3.92%. This indicates that ZPRX.DE's price experiences larger fluctuations and is considered to be riskier than USSC.L 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 | USSC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 3.92% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.51% | 10.49% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.10% | 16.35% | -2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 21.23% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.10% | 22.84% | -4.74% |
ZPRX.DE vs. USSC.L - Expense Ratio Comparison
Both ZPRX.DE and USSC.L have an expense ratio of 0.30%.
Dividends
ZPRX.DE vs. USSC.L - Dividend Comparison
Neither ZPRX.DE nor USSC.L has paid dividends to shareholders.
Frequently Asked Questions
ZPRX.DE and USSC.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ZPRX.DE and USSC.L have the same expense ratio: 0.30% per year.
ZPRX.DE is categorized as Europe Equities, while USSC.L is Small Cap Value Equities. ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while USSC.L tracks MSCI USA Small Cap Value Weighted Index.
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