AMEM.DE vs. H4Z3.DE
AMEM.DE (Amundi MSCI Emerging Markets UCITS ETF EUR) and H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds tracking the MSCI Emerging Markets, from Amundi and HSBC respectively. Both are passively managed. Over the past 3 years, AMEM.DE returned 20.85%/yr vs 20.42%/yr for H4Z3.DE. With a 0.99 correlation, they move nearly in lockstep. AMEM.DE charges 0.20%/yr vs 0.15%/yr for H4Z3.DE.
Performance
AMEM.DE vs. H4Z3.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with AMEM.DE having a 27.34% return and H4Z3.DE slightly higher at 27.75%.
AMEM.DE
- 1D
- -1.57%
- 1M
- 5.93%
- YTD
- 27.34%
- 6M
- 29.35%
- 1Y
- 49.79%
- 3Y*
- 20.85%
- 5Y*
- 8.42%
- 10Y*
- 9.86%
H4Z3.DE
- 1D
- -1.67%
- 1M
- 6.24%
- YTD
- 27.75%
- 6M
- 29.51%
- 1Y
- 50.16%
- 3Y*
- 20.42%
- 5Y*
- —
- 10Y*
- —
AMEM.DE vs. H4Z3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AMEM.DE Amundi MSCI Emerging Markets UCITS ETF EUR | 27.34% | 19.31% | 13.70% | 5.24% | -6.00% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 27.75% | 18.60% | 13.73% | 4.66% | -6.26% |
Correlation
The correlation between AMEM.DE and H4Z3.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.99 |
The correlation between AMEM.DE and H4Z3.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
AMEM.DE vs. H4Z3.DE — Risk / Return Rank
AMEM.DE
H4Z3.DE
AMEM.DE vs. H4Z3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.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.
| AMEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.52 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.65 | 4.77 | -0.11 |
| Martin ratioReturn relative to average drawdown | 16.89 | 17.12 | -0.23 |
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
| AMEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.80 | 2.85 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.91 | -0.56 |
Drawdowns
AMEM.DE vs. H4Z3.DE - Drawdown Comparison
The maximum AMEM.DE drawdown since its inception was -35.87%, 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 AMEM.DE and H4Z3.DE.
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Drawdown Indicators
| AMEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.87% | -18.86% | -17.01% |
Max Drawdown (1Y)Largest decline over 1 year | -10.65% | -10.47% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -19.22% | -18.86% | -0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -23.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -31.93% | — | — |
Current DrawdownCurrent decline from peak | -2.62% | -2.73% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -10.29% | -4.95% | -5.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.94% | 2.92% | +0.02% |
Volatility
AMEM.DE vs. H4Z3.DE - Volatility Comparison
Amundi MSCI Emerging Markets UCITS ETF EUR (AMEM.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) have volatilities of 7.41% and 7.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.41% | 7.35% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 15.02% | 14.91% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.74% | 17.54% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.70% | 15.77% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.28% | 15.77% | +2.51% |
AMEM.DE vs. H4Z3.DE - Expense Ratio Comparison
AMEM.DE has a 0.20% 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
AMEM.DE vs. H4Z3.DE - Dividend Comparison
Neither AMEM.DE nor H4Z3.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, AMEM.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 0.20% for AMEM.DE.
Both ETFs track MSCI Emerging Markets. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.20% for AMEM.DE and 0.15% for H4Z3.DE.
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