DE5A.DE vs. H4ZK.DE
DE5A.DE (Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - DE5A.DE tracks the FTSE Highest-Rated Eurozone Government Bond while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, DE5A.DE returned -0.42% vs 0.79% for H4ZK.DE. At a 0.50 correlation, their price movements are largely independent. Both charge a 0.14% expense ratio.
Performance
DE5A.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DE5A.DE achieves a -0.25% return, which is significantly lower than H4ZK.DE's 0.20% return.
DE5A.DE
- 1D
- -0.17%
- 1M
- -1.14%
- 6M
- -0.85%
- YTD
- -0.25%
- 1Y
- -0.42%
- 3Y*
- 1.15%
- 5Y*
- -3.56%
- 10Y*
- -1.42%
H4ZK.DE
- 1D
- 0.10%
- 1M
- -0.10%
- 6M
- 0.00%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DE5A.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DE5A.DE Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR | -0.25% | 0.29% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between DE5A.DE and H4ZK.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.50 |
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Return for Risk
DE5A.DE vs. H4ZK.DE — Risk / Return Rank
DE5A.DE
H4ZK.DE
DE5A.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) and HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.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.
| DE5A.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.13 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.13 | 0.62 | -0.75 |
| Martin ratioReturn relative to average drawdown | -0.29 | 2.06 | -2.35 |
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Drawdowns
DE5A.DE vs. H4ZK.DE - Drawdown Comparison
The maximum DE5A.DE drawdown since its inception was -24.92%, which is greater than H4ZK.DE's maximum drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for DE5A.DE and H4ZK.DE.
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Drawdown Indicators
| DE5A.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.92% | -1.26% | -23.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.13% | -1.26% | -1.87% |
Max Drawdown (3Y)Largest decline over 3 years | -4.45% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -22.78% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -24.92% | — | — |
Current DrawdownCurrent decline from peak | -19.85% | -0.29% | -19.56% |
Average DrawdownAverage peak-to-trough decline | -7.27% | -0.19% | -7.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.45% | 0.38% | +1.07% |
Volatility
DE5A.DE vs. H4ZK.DE - Volatility Comparison
Amundi Government Bond Highest Rated Euro Investment Grade UCITS ETF EUR (DE5A.DE) has a higher volatility of 1.18% compared to HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) at 0.41%. This indicates that DE5A.DE's price experiences larger fluctuations and is considered to be riskier than H4ZK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DE5A.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 0.41% | +0.77% |
Volatility (6M)Calculated over the trailing 6-month period | 3.54% | 1.23% | +2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 1.38% | +2.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 1.40% | +5.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.35% | 1.40% | +3.95% |
DE5A.DE vs. H4ZK.DE - Expense Ratio Comparison
Both DE5A.DE and H4ZK.DE have an expense ratio of 0.14%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
DE5A.DE vs. H4ZK.DE - Dividend Comparison
Neither DE5A.DE nor H4ZK.DE has paid dividends to shareholders.
Frequently Asked Questions
DE5A.DE and H4ZK.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.14% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
DE5A.DE and H4ZK.DE have the same expense ratio: 0.14% per year.
DE5A.DE tracks FTSE Highest-Rated Eurozone Government Bond, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: Amundi and HSBC.
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