DX2Z.DE vs. H41E.DE
DX2Z.DE (Xtrackers S&P Select Frontier Swap UCITS ETF (Acc)) and H41E.DE (HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - DX2Z.DE tracks the S&P Select Frontier Index while H41E.DE tracks the MSCI Emerging Markets Value SRI ESG Target Select. Both are passively managed. Over the past 3 years, DX2Z.DE returned 18.61%/yr vs 26.60%/yr for H41E.DE. At a 0.35 correlation, their price movements are largely independent. DX2Z.DE charges 0.95%/yr vs 0.35%/yr for H41E.DE.
Performance
DX2Z.DE vs. H41E.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DX2Z.DE achieves a 10.31% return, which is significantly lower than H41E.DE's 36.54% return.
DX2Z.DE
- 1D
- 0.61%
- 1M
- 2.36%
- 6M
- 8.54%
- YTD
- 10.31%
- 1Y
- 29.81%
- 3Y*
- 18.61%
- 5Y*
- 12.91%
- 10Y*
- 11.40%
H41E.DE
- 1D
- 0.00%
- 1M
- -3.57%
- 6M
- 33.19%
- YTD
- 36.54%
- 1Y
- 60.16%
- 3Y*
- 26.60%
- 5Y*
- —
- 10Y*
- —
DX2Z.DE vs. H41E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DX2Z.DE Xtrackers S&P Select Frontier Swap UCITS ETF (Acc) | 10.31% | 18.38% | 30.33% | 20.29% | -1.68% |
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) | 36.54% | 22.02% | 17.74% | 11.43% | -2.13% |
Correlation
The correlation between DX2Z.DE and H41E.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2022 | 0.35 |
The correlation between DX2Z.DE and H41E.DE shifts across timeframes, from 0.24 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DX2Z.DE vs. H41E.DE — Risk / Return Rank
DX2Z.DE
H41E.DE
DX2Z.DE vs. H41E.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P Select Frontier Swap UCITS ETF (Acc) (DX2Z.DE) and HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.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.
| DX2Z.DE | H41E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.49 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.54 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 6.17 | -3.91 |
| Martin ratioReturn relative to average drawdown | 6.70 | 19.26 | -12.56 |
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Drawdowns
DX2Z.DE vs. H41E.DE - Drawdown Comparison
The maximum DX2Z.DE drawdown since its inception was -76.62%, which is greater than H41E.DE's maximum drawdown of -20.92%. Use the drawdown chart below to compare losses from any high point for DX2Z.DE and H41E.DE.
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Drawdown Indicators
| DX2Z.DE | H41E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.62% | -20.92% | -55.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.15% | -9.80% | -3.35% |
Max Drawdown (3Y)Largest decline over 3 years | -20.17% | -20.92% | +0.75% |
Max Drawdown (5Y)Largest decline over 5 years | -23.10% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.54% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -8.20% | +8.20% |
Average DrawdownAverage peak-to-trough decline | -44.91% | -3.13% | -41.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.44% | 3.13% | +1.31% |
Volatility
DX2Z.DE vs. H41E.DE - Volatility Comparison
The current volatility for Xtrackers S&P Select Frontier Swap UCITS ETF (Acc) (DX2Z.DE) is 3.87%, while HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) has a volatility of 9.36%. This indicates that DX2Z.DE experiences smaller price fluctuations and is considered to be less risky than H41E.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DX2Z.DE | H41E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 9.36% | -5.49% |
Volatility (6M)Calculated over the trailing 6-month period | 14.14% | 16.87% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.85% | 19.74% | -0.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.49% | 16.62% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.78% | 16.62% | +2.16% |
DX2Z.DE vs. H41E.DE - Expense Ratio Comparison
DX2Z.DE has a 0.95% expense ratio, which is higher than H41E.DE's 0.35% expense ratio.
Dividends
DX2Z.DE vs. H41E.DE - Dividend Comparison
Neither DX2Z.DE nor H41E.DE has paid dividends to shareholders.
Frequently Asked Questions
DX2Z.DE and H41E.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H41E.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H41E.DE is cheaper with a 0.35% expense ratio, compared with 0.95% for DX2Z.DE.
DX2Z.DE tracks S&P Select Frontier Index, while H41E.DE tracks MSCI Emerging Markets Value SRI ESG Target Select. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.95% for DX2Z.DE and 0.35% for H41E.DE.
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