CE01.L vs. H4ZA.DE
CE01.L (iShares Euro Government Bond 7-10yr UCITS ETF (Acc)) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both exchange-traded funds - CE01.L is a European Government Bonds fund tracking the Bloomberg Euro Agg Govt TR EUR, while H4ZA.DE is a Europe Equities fund tracking the EURO STOXX® 50. Both are passively managed. Over the past 10 years, CE01.L returned 0.80%/yr vs 11.88%/yr for H4ZA.DE. At a 0.13 correlation, their price movements are largely independent. CE01.L charges 0.15%/yr vs 0.05%/yr for H4ZA.DE.
Performance
CE01.L vs. H4ZA.DE - Performance Comparison
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Different Trading Currencies
CE01.L is traded in GBp, while H4ZA.DE is traded in EUR. To make them comparable, the H4ZA.DE values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, CE01.L achieves a -0.91% return, which is significantly lower than H4ZA.DE's 6.39% return. Over the past 10 years, CE01.L has underperformed H4ZA.DE with an annualized return of 0.80%, while H4ZA.DE has yielded a comparatively higher 11.88% annualized return.
CE01.L
- 1D
- 0.23%
- 1M
- 0.98%
- YTD
- -0.91%
- 6M
- -0.95%
- 1Y
- 2.93%
- 3Y*
- 2.70%
- 5Y*
- -2.20%
- 10Y*
- 0.80%
H4ZA.DE
- 1D
- 0.90%
- 1M
- 4.95%
- YTD
- 6.39%
- 6M
- 7.58%
- 1Y
- 18.85%
- 3Y*
- 16.78%
- 5Y*
- 12.28%
- 10Y*
- 11.88%
CE01.L vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CE01.L iShares Euro Government Bond 7-10yr UCITS ETF (Acc) | -0.91% | 6.87% | -3.53% | 6.60% | -15.38% | -9.55% | 10.06% | 1.33% | 2.06% | 4.55% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 6.39% | 28.62% | 8.85% | 20.14% | -3.87% | 14.99% | 2.76% | 23.30% | -10.72% | 14.78% |
Correlation
The correlation between CE01.L and H4ZA.DE is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.13 |
The correlation between CE01.L and H4ZA.DE shifts across timeframes, from 0.11 (5 years) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CE01.L vs. H4ZA.DE — Risk / Return Rank
CE01.L
H4ZA.DE
CE01.L vs. H4ZA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Government Bond 7-10yr UCITS ETF (Acc) (CE01.L) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.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.
| CE01.L | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.22 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 1.62 | -1.08 |
| Martin ratioReturn relative to average drawdown | 1.30 | 5.46 | -4.17 |
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
| CE01.L | H4ZA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.50 | 1.20 | -0.71 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.27 | 0.69 | -0.96 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.09 | 0.66 | -0.57 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.18 | 0.40 | -0.22 |
Drawdowns
CE01.L vs. H4ZA.DE - Drawdown Comparison
The maximum CE01.L drawdown since its inception was -27.47%, smaller than the maximum H4ZA.DE drawdown of -38.11%. Use the drawdown chart below to compare losses from any high point for CE01.L and H4ZA.DE.
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Drawdown Indicators
| CE01.L | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.47% | -38.11% | +10.64% |
Max Drawdown (1Y)Largest decline over 1 year | -5.33% | -11.57% | +6.24% |
Max Drawdown (3Y)Largest decline over 3 years | -6.85% | -14.36% | +7.51% |
Max Drawdown (5Y)Largest decline over 5 years | -22.14% | -22.34% | +0.20% |
Max Drawdown (10Y)Largest decline over 10 years | -27.47% | -30.86% | +3.39% |
Current DrawdownCurrent decline from peak | -18.53% | -0.37% | -18.16% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -7.78% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 3.44% | -1.19% |
Volatility
CE01.L vs. H4ZA.DE - Volatility Comparison
The current volatility for iShares Euro Government Bond 7-10yr UCITS ETF (Acc) (CE01.L) is 1.98%, while HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a volatility of 4.74%. This indicates that CE01.L experiences smaller price fluctuations and is considered to be less risky than H4ZA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CE01.L | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.98% | 4.74% | -2.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.61% | 12.90% | -8.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.88% | 15.64% | -9.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.21% | 17.56% | -9.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.83% | 17.97% | -9.14% |
CE01.L vs. H4ZA.DE - Expense Ratio Comparison
CE01.L has a 0.15% expense ratio, which is higher than H4ZA.DE's 0.05% 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
CE01.L vs. H4ZA.DE - Dividend Comparison
CE01.L has not paid dividends to shareholders, while H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CE01.L iShares Euro Government Bond 7-10yr UCITS ETF (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.44% | 2.49% | 5.35% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
Frequently Asked Questions
CE01.L and H4ZA.DE have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZA.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for CE01.L.
CE01.L is categorized as European Government Bonds, while H4ZA.DE is Europe Equities. CE01.L tracks Bloomberg Euro Agg Govt TR EUR, while H4ZA.DE tracks EURO STOXX® 50. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.15% for CE01.L and 0.05% for H4ZA.DE.
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