CEUG.DE vs. H4ZZ.DE
CEUG.DE (iShares MSCI EMU UCITS ETF GBP Hedged (Dist)) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - CEUG.DE tracks the MSCI Europe NR EUR while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past 3 years, CEUG.DE returned 13.62%/yr vs 15.64%/yr for H4ZZ.DE. Their correlation of 0.93 suggests significant overlap in exposure. CEUG.DE charges 0.12%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
CEUG.DE vs. H4ZZ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with CEUG.DE having a 7.45% return and H4ZZ.DE slightly lower at 7.20%.
CEUG.DE
- 1D
- 0.60%
- 1M
- 3.72%
- YTD
- 7.45%
- 6M
- 10.20%
- 1Y
- 16.71%
- 3Y*
- 13.62%
- 5Y*
- 9.35%
- 10Y*
- 8.85%
H4ZZ.DE
- 1D
- 0.77%
- 1M
- 4.70%
- YTD
- 7.20%
- 6M
- 8.61%
- 1Y
- 15.73%
- 3Y*
- 15.64%
- 5Y*
- —
- 10Y*
- —
CEUG.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CEUG.DE iShares MSCI EMU UCITS ETF GBP Hedged (Dist) | 7.45% | 19.02% | 9.58% | 15.40% | 0.80% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 7.20% | 22.35% | 10.99% | 22.53% | 9.82% |
Correlation
The correlation between CEUG.DE and H4ZZ.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 | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.93 |
The correlation between CEUG.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
CEUG.DE vs. H4ZZ.DE — Risk / Return Rank
CEUG.DE
H4ZZ.DE
CEUG.DE vs. H4ZZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) and HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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.
| CEUG.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.43 | +0.22 |
| Martin ratioReturn relative to average drawdown | 6.05 | 4.86 | +1.19 |
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
| CEUG.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.24 | 0.98 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 1.18 | -0.66 |
Drawdowns
CEUG.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum CEUG.DE drawdown since its inception was -35.67%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for CEUG.DE and H4ZZ.DE.
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Drawdown Indicators
| CEUG.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.67% | -16.46% | -19.21% |
Max Drawdown (1Y)Largest decline over 1 year | -10.05% | -10.94% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -16.67% | -16.46% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.67% | — | — |
Current DrawdownCurrent decline from peak | -1.56% | -0.53% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -2.68% | -2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.76% | 3.23% | -0.47% |
Volatility
CEUG.DE vs. H4ZZ.DE - Volatility Comparison
The current volatility for iShares MSCI EMU UCITS ETF GBP Hedged (Dist) (CEUG.DE) is 4.42%, while HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a volatility of 4.93%. This indicates that CEUG.DE experiences smaller price fluctuations and is considered to be less risky than H4ZZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CEUG.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 4.93% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 11.04% | 12.97% | -1.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 15.97% | -2.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.36% | 15.85% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.62% | 15.85% | -0.23% |
CEUG.DE vs. H4ZZ.DE - Expense Ratio Comparison
CEUG.DE has a 0.12% expense ratio, which is higher than H4ZZ.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
CEUG.DE vs. H4ZZ.DE - Dividend Comparison
Neither CEUG.DE nor H4ZZ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, CEUG.DE and H4ZZ.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, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.12% for CEUG.DE.
CEUG.DE tracks MSCI Europe NR EUR, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.12% for CEUG.DE and 0.05% for H4ZZ.DE.
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