ZPRX.DE vs. VGWD.DE
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and VGWD.DE (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) are both exchange-traded funds - ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted, while VGWD.DE is a Dividend fund tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 5 years, ZPRX.DE returned 8.17%/yr vs 11.77%/yr for VGWD.DE. A 0.74 correlation means they provide meaningful diversification when combined. ZPRX.DE charges 0.30%/yr vs 0.29%/yr for VGWD.DE.
Performance
ZPRX.DE vs. VGWD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRX.DE achieves a 8.58% return, which is significantly lower than VGWD.DE's 14.09% 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%
VGWD.DE
- 1D
- 0.09%
- 1M
- 3.91%
- YTD
- 14.09%
- 6M
- 15.22%
- 1Y
- 27.30%
- 3Y*
- 15.91%
- 5Y*
- 11.77%
- 10Y*
- —
ZPRX.DE vs. VGWD.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 | 8.58% | 26.81% | 4.29% | 15.26% | -13.51% | 27.59% | -3.52% | 28.99% | -19.19% | 2.56% |
VGWD.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 14.09% | 13.16% | 15.75% | 7.29% | 0.08% | 27.89% | -9.60% | 25.03% | -8.03% | 1.24% |
Correlation
The correlation between ZPRX.DE and VGWD.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017 | 0.74 |
The correlation between ZPRX.DE and VGWD.DE has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
ZPRX.DE vs. VGWD.DE — Risk / Return Rank
ZPRX.DE
VGWD.DE
ZPRX.DE vs. VGWD.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 Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VGWD.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 | VGWD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.06 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.54 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 4.67 | -3.04 |
| Martin ratioReturn relative to average drawdown | 6.01 | 18.26 | -12.25 |
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Drawdowns
ZPRX.DE vs. VGWD.DE - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, which is greater than VGWD.DE's maximum drawdown of -34.57%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and VGWD.DE.
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Drawdown Indicators
| ZPRX.DE | VGWD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -34.57% | -9.36% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -5.82% | -5.81% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -16.86% | +0.91% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -16.86% | -10.66% |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | — | — |
Current DrawdownCurrent decline from peak | -0.81% | 0.00% | -0.81% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -4.04% | -3.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 1.49% | +1.68% |
Volatility
ZPRX.DE vs. VGWD.DE - Volatility Comparison
SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a higher volatility of 3.87% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VGWD.DE) at 2.35%. This indicates that ZPRX.DE's price experiences larger fluctuations and is considered to be riskier than VGWD.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 | VGWD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 2.35% | +1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | 7.20% | +4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.06% | 9.39% | +4.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.72% | 11.55% | +5.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 14.22% | +3.87% |
ZPRX.DE vs. VGWD.DE - Expense Ratio Comparison
ZPRX.DE has a 0.30% expense ratio, which is higher than VGWD.DE's 0.29% expense ratio.
Dividends
ZPRX.DE vs. VGWD.DE - Dividend Comparison
ZPRX.DE has not paid dividends to shareholders, while VGWD.DE's dividend yield for the trailing twelve months is around 2.45%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
VGWD.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 2.45% | 2.84% | 3.05% | 3.40% | 3.78% | 3.02% | 3.08% | 3.21% | 3.70% | 0.58% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZPRX.DE and VGWD.DE have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VGWD.DE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VGWD.DE is cheaper with a 0.29% expense ratio, compared with 0.30% for ZPRX.DE.
ZPRX.DE is categorized as Europe Equities, while VGWD.DE is Dividend. ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while VGWD.DE tracks FTSE All-World High Dividend Yield Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.30% for ZPRX.DE and 0.29% for VGWD.DE.
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