ZPRX: SPDR MSCI Europe Small Cap Value Weighted UCITS ETF returns, drawdowns and risk
Funds on smaller companies split by style, the corner of the market where the value premium has historically been strongest.
Data updated October 2026
ZPRX · Xetra · EURCategory: Small cap value and growth ETFsData from February 2015
From February 2015 to October 2026 ZPRX returned 7.4% a year on average with dividends reinvested, in euros: €10,000 invested at the start grew to €22,912.
Its deepest fall was 43.9%, from February 2020 to March 2020, and it took about 12 months to get back to the previous high. Annual volatility was 18.3%; at the last close it was 2.8% below its high.
Against VWCE (Vanguard FTSE All-World UCITS ETF (Acc)), over the 87 months both have data, the correlation of monthly returns was 0.73: they usually moved together. Beta was 1.11. In months when VWCE rose, ZPRX moved 97% as much on average; in months when VWCE fell, 99% as much.
Key figures
- Annual return (CAGR)
- +7.4%
- 1-year return
- +18.0%
- 5 years, a year
- +8.3%
- 10 years, a year
- +8.6%
- Annual volatility
- 18.3%
- Maximum drawdown
- −43.9%
- Sharpe ratio
- 0.45
- Worst year
- 2018: −19.2%
Trailing returns
| Period | ZPRX | VWCE |
|---|---|---|
| 1 year | +18.0% | +22.0% |
| 3 years, a year | +19.0% | +19.5% |
| 5 years, a year | +8.3% | +11.5% |
| 10 years, a year | +8.6% | — |
To the last close of October 2026. Periods longer than a year are annualised.
Growth of €10,000: ZPRX vs VWCE
Month-end values from August 2019, the first month both funds have data.
ZPRX drawdowns
Percentage below the previous high, weekly.
Returns by calendar year
| Year | ZPRX | VWCE |
|---|---|---|
| 2026(partial) | +11.8% | +17.5% |
| 2025 | +26.8% | +9.2% |
| 2024 | +4.3% | +24.4% |
| 2023 | +15.3% | +18.2% |
| 2022 | −13.5% | −13.5% |
| 2021 | +27.6% | +28.6% |
| 2020 | −3.5% | +5.4% |
| 2019 | +29.0% | +7.6% |
| 2018 | −19.2% | — |
| 2017 | +12.9% | — |
| 2016 | +4.3% | — |
| 2015(partial) | +2.9% | — |
ZPRX compared
How the figures are calculated
Total return in the fund’s trading currency, from end-of-day prices with dividends reinvested on the ex-date. The fund’s own ongoing charges are already reflected in its price; trading costs, taxes and currency conversion are not included. Past returns do not predict future returns.
Sharpe ratio uses the return of short-term government bills in the same currency as the risk-free rate. The growth chart uses month-end values; drawdowns and volatility use daily closes.
Questions
What is the average annual return of ZPRX?
From February 2015 to October 2026 ZPRX returned 7.4% a year on average (CAGR) with dividends reinvested, in EUR. Over the last 5 years: +8.3% a year. Over the last 12 months: +18.0%.
What was the worst drawdown of ZPRX?
43.9%, from February 2020 to March 2020; it took about 12 months from the previous high to get back to it.
How volatile is ZPRX?
Annual volatility was 18.3% over the period. Its worst month was −26.0% and 60% of months were positive. Worst calendar year: 2018 (−19.2%).
How closely does ZPRX follow VWCE?
Over 87 months the correlation of monthly returns was 0.73, so they usually moved together, with a beta of 1.11.
Use ZPRX in a free tool
Other Small cap value and growth ETFs
- All Small cap value and growth ETFsReturns and risk side by side
- AVUV — Avantis U.S. Small Cap Value ETFCAGR +14.8%
- VBR — Vanguard Small-Cap Value ETFCAGR +15.4%
- IWN — iShares Russell 2000 Value ETFCAGR +7.2%
- IWO — iShares Russell 2000 Growth ETFCAGR +8.6%
- ZPRV — SPDR MSCI USA Small Cap Value Weighted UCITS ETFCAGR +8.8%
Source: MarketStack end-of-day prices, total return with dividends reinvested. Figures are historical and descriptive; they are not forecasts and not investment advice. MEDGE Capital does not recommend buying or selling any instrument. Risk disclaimer.