ZPRX.DE vs. XESP.DE
ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) and XESP.DE (Xtrackers Spanish Equity UCITS ETF) are both Europe Equities funds - ZPRX.DE tracks the MSCI Europe Small Cap Value Weighted while XESP.DE tracks the Solactive Spain 40. Both are passively managed. Over the past 10 years, ZPRX.DE returned 9.71%/yr vs 14.03%/yr for XESP.DE. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
ZPRX.DE vs. XESP.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 XESP.DE's 14.86% return. Over the past 10 years, ZPRX.DE has underperformed XESP.DE with an annualized return of 9.71%, while XESP.DE has yielded a comparatively higher 14.03% annualized 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%
XESP.DE
- 1D
- 0.87%
- 1M
- 6.89%
- YTD
- 14.86%
- 6M
- 15.90%
- 1Y
- 48.43%
- 3Y*
- 32.37%
- 5Y*
- 20.37%
- 10Y*
- 14.03%
ZPRX.DE vs. XESP.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 | 6.94% | 26.81% | 4.29% | 15.26% | -13.51% | 27.59% | -3.52% | 28.99% | -19.19% | 12.89% |
XESP.DE Xtrackers Spanish Equity UCITS ETF | 14.86% | 58.64% | 14.63% | 26.81% | -1.62% | 10.85% | -10.20% | 15.89% | -12.41% | 12.92% |
Correlation
The correlation between ZPRX.DE and XESP.DE is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2015 | 0.78 |
The correlation between ZPRX.DE and XESP.DE shifts across timeframes, from 0.67 (1 year) to 0.78 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ZPRX.DE vs. XESP.DE — Risk / Return Rank
ZPRX.DE
XESP.DE
ZPRX.DE vs. XESP.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 Xtrackers Spanish Equity UCITS ETF (XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.51 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 4.74 | -3.24 |
| Martin ratioReturn relative to average drawdown | 5.49 | 16.84 | -11.35 |
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Drawdowns
ZPRX.DE vs. XESP.DE - Drawdown Comparison
The maximum ZPRX.DE drawdown since its inception was -43.93%, which is greater than XESP.DE's maximum drawdown of -40.70%. Use the drawdown chart below to compare losses from any high point for ZPRX.DE and XESP.DE.
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Drawdown Indicators
| ZPRX.DE | XESP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.93% | -40.70% | -3.23% |
Max Drawdown (1Y)Largest decline over 1 year | -11.63% | -10.17% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -15.95% | -12.92% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -27.52% | -18.56% | -8.96% |
Max Drawdown (10Y)Largest decline over 10 years | -43.93% | -39.03% | -4.90% |
Current DrawdownCurrent decline from peak | -2.30% | -0.10% | -2.20% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -10.06% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 2.87% | +0.31% |
Volatility
ZPRX.DE vs. XESP.DE - Volatility Comparison
The current volatility for SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) is 3.13%, while Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a volatility of 4.20%. This indicates that ZPRX.DE experiences smaller price fluctuations and is considered to be less risky than XESP.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 | XESP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.13% | 4.20% | -1.07% |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | 14.44% | -2.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.97% | 17.00% | -3.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.71% | 16.73% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.77% | 18.44% | -0.67% |
ZPRX.DE vs. XESP.DE - Expense Ratio Comparison
Both ZPRX.DE and XESP.DE have an expense ratio of 0.30%.
Dividends
ZPRX.DE vs. XESP.DE - Dividend Comparison
Neither ZPRX.DE nor XESP.DE has paid dividends to shareholders.
Frequently Asked Questions
ZPRX.DE and XESP.DE have a correlation of 0.67, 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 XESP.DE have the same expense ratio: 0.30% per year.
ZPRX.DE tracks MSCI Europe Small Cap Value Weighted, while XESP.DE tracks Solactive Spain 40. They also come from different issuers: State Street and Xtrackers.
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