State Street SPDR MSCI World Small Cap UCITS ETF USD Unhedged (Acc)

ZPRS is consistently paired with broad-market developed world equity ETFs like EUNL, XDWD, and SPYI, which typically comprise 45 to 67 percent of the portfolios. These core holdings provide the primary growth engine, while ZPRS serves as a satellite allocation to capture the small-cap risk premium. Other frequent companions include factor-tilted funds like XDEQ for quality or XDEM for momentum, and defensive assets such as gold or government bonds like DBXN, which appear in more conservative allocations to dampen the volatility inherent in a small-cap equity tilt.

The patterns across EuroFolio indicate two distinct ways members utilize ZPRS. In high-conviction factor strategies, such as the Developed Momentum, Quality and Small portfolio, ZPRS is used as a core building block with an allocation as high as 33 percent to explicitly target the small-cap factor. Conversely, in broader multi-asset portfolios like WisdomTree CIO Market Outlook or Trajan 2612, ZPRS is treated as a minor diversification tool, typically held at 5 to 8 percent to provide exposure to smaller companies without significantly increasing the overall portfolio drawdown risk.