EIB3.DE vs. H4ZK.DE
EIB3.DE (Invesco Euro Government Bond 1-3 Year UCITS ETF Dist) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - EIB3.DE tracks the Bloomberg Euro Government Select 1-3 while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, EIB3.DE returned 0.76% vs 0.79% for H4ZK.DE. At a 0.49 correlation, their price movements are largely independent. EIB3.DE charges 0.10%/yr vs 0.14%/yr for H4ZK.DE.
Performance
EIB3.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EIB3.DE achieves a 0.14% return, which is significantly lower than H4ZK.DE's 0.20% return.
EIB3.DE
- 1D
- -0.03%
- 1M
- -0.16%
- 6M
- -0.20%
- YTD
- 0.14%
- 1Y
- 0.76%
- 3Y*
- 2.68%
- 5Y*
- 0.66%
- 10Y*
- —
H4ZK.DE
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.10%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EIB3.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EIB3.DE Invesco Euro Government Bond 1-3 Year UCITS ETF Dist | 0.14% | 2.39% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between EIB3.DE and H4ZK.DE is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.49 |
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Return for Risk
EIB3.DE vs. H4ZK.DE — Risk / Return Rank
EIB3.DE
H4ZK.DE
EIB3.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.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.
| EIB3.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.25 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.13 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.62 | -0.09 |
| Martin ratioReturn relative to average drawdown | 1.83 | 2.06 | -0.23 |
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Drawdowns
EIB3.DE vs. H4ZK.DE - Drawdown Comparison
The maximum EIB3.DE drawdown since its inception was -6.78%, 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 EIB3.DE and H4ZK.DE.
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Drawdown Indicators
| EIB3.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.78% | -1.26% | -5.52% |
Max Drawdown (1Y)Largest decline over 1 year | -1.43% | -1.26% | -0.17% |
Max Drawdown (3Y)Largest decline over 3 years | -1.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.91% | — | — |
Current DrawdownCurrent decline from peak | -0.39% | -0.29% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -2.00% | -0.19% | -1.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.42% | 0.38% | +0.04% |
Volatility
EIB3.DE vs. H4ZK.DE - Volatility Comparison
Invesco Euro Government Bond 1-3 Year UCITS ETF Dist (EIB3.DE) has a higher volatility of 0.71% compared to HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) at 0.40%. This indicates that EIB3.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
| EIB3.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.40% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.06% | 1.23% | +0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.39% | 1.38% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.93% | 1.39% | +0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.73% | 1.39% | +0.34% |
EIB3.DE vs. H4ZK.DE - Expense Ratio Comparison
EIB3.DE has a 0.10% expense ratio, which is lower than H4ZK.DE's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
EIB3.DE vs. H4ZK.DE - Dividend Comparison
EIB3.DE's dividend yield for the trailing twelve months is around 2.34%, while H4ZK.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EIB3.DE Invesco Euro Government Bond 1-3 Year UCITS ETF Dist | 2.34% | 2.51% | 2.80% | 2.24% | 0.23% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EIB3.DE and H4ZK.DE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EIB3.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EIB3.DE is cheaper with a 0.10% expense ratio, compared with 0.14% for H4ZK.DE.
EIB3.DE tracks Bloomberg Euro Government Select 1-3, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: Invesco and HSBC. Their fees differ too: 0.10% for EIB3.DE and 0.14% for H4ZK.DE.
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