CEBP.DE vs. H4ZA.DE
CEBP.DE (iShares MSCI EMU USD Hedged UCITS ETF (Acc)) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both Europe Equities funds - CEBP.DE tracks the MSCI EMU 100% Hedged to USD Index while H4ZA.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 10 years, CEBP.DE returned 12.11%/yr vs 11.03%/yr for H4ZA.DE. Their correlation of 0.87 suggests significant overlap in exposure. CEBP.DE charges 0.38%/yr vs 0.05%/yr for H4ZA.DE.
Performance
CEBP.DE vs. H4ZA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, CEBP.DE achieves a 14.84% return, which is significantly higher than H4ZA.DE's 9.79% return. Over the past 10 years, CEBP.DE has outperformed H4ZA.DE with an annualized return of 12.11%, while H4ZA.DE has yielded a comparatively lower 11.03% annualized return.
CEBP.DE
- 1D
- -0.77%
- 1M
- -0.54%
- 6M
- 8.97%
- YTD
- 14.84%
- 1Y
- 23.72%
- 3Y*
- 17.15%
- 5Y*
- 13.84%
- 10Y*
- 12.11%
H4ZA.DE
- 1D
- -0.80%
- 1M
- -0.88%
- 6M
- 5.52%
- YTD
- 9.79%
- 1Y
- 18.89%
- 3Y*
- 15.78%
- 5Y*
- 12.34%
- 10Y*
- 11.03%
CEBP.DE vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CEBP.DE iShares MSCI EMU USD Hedged UCITS ETF (Acc) | 14.84% | 12.28% | 17.61% | 17.66% | -3.75% | 33.16% | -8.03% | 34.07% | -6.38% | 1.04% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 9.79% | 22.26% | 11.06% | 22.59% | -8.87% | 23.72% | -2.73% | 30.04% | -11.95% | 10.07% |
Correlation
The correlation between CEBP.DE and H4ZA.DE is 0.85, 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 | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 3, 2015 | 0.87 |
The correlation between CEBP.DE and H4ZA.DE has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.
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Return for Risk
CEBP.DE vs. H4ZA.DE — Risk / Return Rank
CEBP.DE
H4ZA.DE
CEBP.DE vs. H4ZA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.DE) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CEBP.DE | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 1.72 | +1.16 |
| Martin ratioReturn relative to average drawdown | 10.40 | 6.00 | +4.40 |
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Drawdowns
CEBP.DE vs. H4ZA.DE - Drawdown Comparison
The maximum CEBP.DE drawdown since its inception was -38.05%, roughly equal to the maximum H4ZA.DE drawdown of -38.40%. Use the drawdown chart below to compare losses from any high point for CEBP.DE and H4ZA.DE.
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Drawdown Indicators
| CEBP.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.05% | -38.40% | +0.35% |
Max Drawdown (1Y)Largest decline over 1 year | -8.21% | -10.97% | +2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -19.71% | -16.39% | -3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -19.71% | -23.26% | +3.55% |
Max Drawdown (10Y)Largest decline over 10 years | -38.05% | -38.40% | +0.35% |
Current DrawdownCurrent decline from peak | -2.95% | -2.69% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -7.18% | +0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 3.14% | -0.87% |
Volatility
CEBP.DE vs. H4ZA.DE - Volatility Comparison
The current volatility for iShares MSCI EMU USD Hedged UCITS ETF (Acc) (CEBP.DE) is 3.47%, while HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a volatility of 3.98%. This indicates that CEBP.DE 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
| CEBP.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.47% | 3.98% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 13.35% | -2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 16.04% | -1.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.56% | 17.53% | -1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.17% | 17.81% | -0.64% |
CEBP.DE vs. H4ZA.DE - Expense Ratio Comparison
CEBP.DE has a 0.38% expense ratio, which is higher than H4ZA.DE's 0.05% expense ratio.
Dividends
CEBP.DE vs. H4ZA.DE - Dividend Comparison
CEBP.DE has not paid dividends to shareholders, while H4ZA.DE's dividend yield for the trailing twelve months is around 2.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEBP.DE iShares MSCI EMU USD Hedged 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 | 2.38% | 2.49% | 2.89% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
Frequently Asked Questions
CEBP.DE and H4ZA.DE have a correlation of 0.85, 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 0.38% for CEBP.DE.
CEBP.DE tracks MSCI EMU 100% Hedged to USD Index, while H4ZA.DE tracks EURO STOXX® 50. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.38% for CEBP.DE and 0.05% for H4ZA.DE.
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