36B5.DE vs. H4Z3.DE
36B5.DE (iShares MSCI EM SRI UCITS ETF USD Dist) and H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - 36B5.DE tracks the MSCI Emerging Markets SRI Select Reduced Fossil Fuels while H4Z3.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 3 years, 36B5.DE returned 14.26%/yr vs 20.42%/yr for H4Z3.DE. Their correlation of 0.94 suggests significant overlap in exposure. 36B5.DE charges 0.25%/yr vs 0.15%/yr for H4Z3.DE.
Performance
36B5.DE vs. H4Z3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 36B5.DE achieves a 17.40% return, which is significantly lower than H4Z3.DE's 27.75% return.
36B5.DE
- 1D
- -1.48%
- 1M
- 0.60%
- YTD
- 17.40%
- 6M
- 18.30%
- 1Y
- 35.45%
- 3Y*
- 14.26%
- 5Y*
- 5.01%
- 10Y*
- —
H4Z3.DE
- 1D
- -1.67%
- 1M
- 3.67%
- YTD
- 27.75%
- 6M
- 28.22%
- 1Y
- 49.05%
- 3Y*
- 20.42%
- 5Y*
- —
- 10Y*
- —
36B5.DE vs. H4Z3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
36B5.DE iShares MSCI EM SRI UCITS ETF USD Dist | 17.40% | 16.82% | 11.30% | -2.19% | -7.39% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 27.75% | 18.60% | 13.73% | 4.66% | -6.26% |
Correlation
The correlation between 36B5.DE and H4Z3.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.94 |
The correlation between 36B5.DE and H4Z3.DE has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
36B5.DE vs. H4Z3.DE — Risk / Return Rank
36B5.DE
H4Z3.DE
36B5.DE vs. H4Z3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EM SRI UCITS ETF USD Dist (36B5.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.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.
| 36B5.DE | H4Z3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.52 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.57 | 4.77 | -1.20 |
| Martin ratioReturn relative to average drawdown | 12.71 | 17.12 | -4.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 36B5.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.13 | 2.85 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.91 | -0.54 |
Drawdowns
36B5.DE vs. H4Z3.DE - Drawdown Comparison
The maximum 36B5.DE drawdown since its inception was -36.40%, which is greater than H4Z3.DE's maximum drawdown of -18.86%. Use the drawdown chart below to compare losses from any high point for 36B5.DE and H4Z3.DE.
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Drawdown Indicators
| 36B5.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.40% | -18.86% | -17.54% |
Max Drawdown (1Y)Largest decline over 1 year | -10.04% | -10.47% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -20.62% | -18.86% | -1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -25.22% | — | — |
Current DrawdownCurrent decline from peak | -2.94% | -2.73% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -10.18% | -4.95% | -5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.92% | -0.10% |
Volatility
36B5.DE vs. H4Z3.DE - Volatility Comparison
The current volatility for iShares MSCI EM SRI UCITS ETF USD Dist (36B5.DE) is 5.97%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a volatility of 7.35%. This indicates that 36B5.DE experiences smaller price fluctuations and is considered to be less risky than H4Z3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 36B5.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.97% | 7.35% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 13.73% | 14.91% | -1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 17.54% | -0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 15.77% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.65% | 15.77% | +3.88% |
36B5.DE vs. H4Z3.DE - Expense Ratio Comparison
36B5.DE has a 0.25% expense ratio, which is higher than H4Z3.DE's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
36B5.DE vs. H4Z3.DE - Dividend Comparison
36B5.DE's dividend yield for the trailing twelve months is around 1.78%, while H4Z3.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
36B5.DE iShares MSCI EM SRI UCITS ETF USD Dist | 1.78% | 2.09% | 2.34% | 2.32% | 2.31% | 1.84% | 1.57% | 2.31% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, 36B5.DE and H4Z3.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, H4Z3.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z3.DE is cheaper with a 0.15% expense ratio, compared with 0.25% for 36B5.DE.
36B5.DE tracks MSCI Emerging Markets SRI Select Reduced Fossil Fuels, while H4Z3.DE tracks MSCI Emerging Markets. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.25% for 36B5.DE and 0.15% for H4Z3.DE.
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