EMNE.DE vs. H4ZA.DE
EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both Europe Equities funds - EMNE.DE tracks the MSCI EMU ESG Enhanced Focus CTB Index while H4ZA.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 5 years, EMNE.DE returned 10.53%/yr vs 12.46%/yr for H4ZA.DE. Their correlation of 0.86 suggests significant overlap in exposure. EMNE.DE charges 0.12%/yr vs 0.05%/yr for H4ZA.DE.
Performance
EMNE.DE vs. H4ZA.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with EMNE.DE having a 10.66% return and H4ZA.DE slightly lower at 10.38%.
EMNE.DE
- 1D
- -0.22%
- 1M
- -0.33%
- 6M
- 7.66%
- YTD
- 10.66%
- 1Y
- 20.09%
- 3Y*
- 15.22%
- 5Y*
- 10.53%
- 10Y*
- —
H4ZA.DE
- 1D
- -0.18%
- 1M
- 0.77%
- 6M
- 6.44%
- YTD
- 10.38%
- 1Y
- 20.14%
- 3Y*
- 15.75%
- 5Y*
- 12.46%
- 10Y*
- 10.99%
EMNE.DE vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 10.66% | 22.18% | 9.86% | 18.79% | -12.35% | 22.75% | 1.44% | 16.09% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 10.38% | 22.26% | 11.06% | 22.59% | -8.87% | 23.72% | -2.73% | 17.12% |
Correlation
The correlation between EMNE.DE and H4ZA.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.86 |
The correlation between EMNE.DE and H4ZA.DE shifts across timeframes, from 0.86 (all time) to 0.98 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EMNE.DE vs. H4ZA.DE — Risk / Return Rank
EMNE.DE
H4ZA.DE
EMNE.DE vs. H4ZA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.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.
| EMNE.DE | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.83 | +0.01 |
| Martin ratioReturn relative to average drawdown | 6.80 | 6.41 | +0.40 |
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Drawdowns
EMNE.DE vs. H4ZA.DE - Drawdown Comparison
The maximum EMNE.DE drawdown since its inception was -34.37%, smaller than the maximum H4ZA.DE drawdown of -38.40%. Use the drawdown chart below to compare losses from any high point for EMNE.DE and H4ZA.DE.
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Drawdown Indicators
| EMNE.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.37% | -38.40% | +4.03% |
Max Drawdown (1Y)Largest decline over 1 year | -10.90% | -10.97% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.10% | -16.39% | +1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -24.70% | -23.26% | -1.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.40% | — |
Current DrawdownCurrent decline from peak | -2.07% | -2.16% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -5.19% | -7.18% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 3.14% | -0.19% |
Volatility
EMNE.DE vs. H4ZA.DE - Volatility Comparison
iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) have volatilities of 3.83% and 3.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMNE.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 3.98% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 12.73% | 13.43% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 16.06% | -1.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 17.54% | -1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 17.81% | +2.18% |
EMNE.DE vs. H4ZA.DE - Expense Ratio Comparison
EMNE.DE has a 0.12% expense ratio, which is higher than H4ZA.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
EMNE.DE vs. H4ZA.DE - Dividend Comparison
EMNE.DE's dividend yield for the trailing twelve months is around 2.37%, which matches H4ZA.DE's 2.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.37% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.37% | 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
With a correlation of 0.98, EMNE.DE and H4ZA.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, 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 0.12% for EMNE.DE.
EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index, while H4ZA.DE tracks EURO STOXX® 50. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.12% for EMNE.DE and 0.05% for H4ZA.DE.
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