EMNU.DE vs. H4ZA.DE
EMNU.DE (iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist)) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both Europe Equities funds - EMNU.DE tracks the MSCI Europe ESG Enhanced Focus while H4ZA.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 5 years, EMNU.DE returned 8.68%/yr vs 12.12%/yr for H4ZA.DE. Their correlation of 0.95 suggests significant overlap in exposure. EMNU.DE charges 0.12%/yr vs 0.05%/yr for H4ZA.DE.
Performance
EMNU.DE vs. H4ZA.DE - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with EMNU.DE having a 7.48% return and H4ZA.DE slightly lower at 7.24%.
EMNU.DE
- 1D
- 0.54%
- 1M
- 1.25%
- YTD
- 7.48%
- 6M
- 10.15%
- 1Y
- 15.70%
- 3Y*
- 12.86%
- 5Y*
- 8.68%
- 10Y*
- —
H4ZA.DE
- 1D
- 0.77%
- 1M
- 1.94%
- YTD
- 7.24%
- 6M
- 8.59%
- 1Y
- 15.63%
- 3Y*
- 16.60%
- 5Y*
- 12.12%
- 10Y*
- 10.80%
EMNU.DE vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 7.48% | 17.95% | 7.97% | 15.57% | -12.29% | 25.49% | -1.40% | 11.32% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 7.24% | 22.26% | 13.81% | 22.59% | -8.87% | 23.72% | -2.73% | 12.97% |
Correlation
The correlation between EMNU.DE and H4ZA.DE is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.95 |
The correlation between EMNU.DE and H4ZA.DE has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMNU.DE vs. H4ZA.DE — Risk / Return Rank
EMNU.DE
H4ZA.DE
EMNU.DE vs. H4ZA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.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.
| EMNU.DE | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.43 | +0.15 |
| Martin ratioReturn relative to average drawdown | 5.60 | 4.85 | +0.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| EMNU.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.98 | +0.22 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.69 | -0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.41 | +0.16 |
Drawdowns
EMNU.DE vs. H4ZA.DE - Drawdown Comparison
The maximum EMNU.DE drawdown since its inception was -34.85%, smaller than the maximum H4ZA.DE drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for EMNU.DE and H4ZA.DE.
Loading charts...
Drawdown Indicators
| EMNU.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.85% | -38.41% | +3.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.00% | -10.97% | +0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -16.42% | -16.40% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -21.72% | -23.26% | +1.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.41% | — |
Current DrawdownCurrent decline from peak | -1.59% | -0.50% | -1.09% |
Average DrawdownAverage peak-to-trough decline | -5.31% | -7.84% | +2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 3.24% | -0.42% |
Volatility
EMNU.DE vs. H4ZA.DE - Volatility Comparison
The current volatility for iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) (EMNU.DE) is 4.34%, while HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a volatility of 4.95%. This indicates that EMNU.DE experiences smaller price fluctuations and is considered to be less risky than H4ZA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMNU.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.34% | 4.95% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.77% | 12.99% | -2.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 15.99% | -2.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.40% | 17.50% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 18.17% | -1.58% |
EMNU.DE vs. H4ZA.DE - Expense Ratio Comparison
EMNU.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
EMNU.DE vs. H4ZA.DE - Dividend Comparison
EMNU.DE's dividend yield for the trailing twelve months is around 2.40%, less than H4ZA.DE's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMNU.DE iShares MSCI Europe ESG Enhanced UCITS ETF EUR (Dist) | 2.40% | 2.58% | 2.92% | 2.80% | 3.02% | 2.25% | 1.90% | 2.63% | 0.00% | 0.00% | 0.00% | 0.00% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.44% | 2.49% | 5.35% | 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 0.93, EMNU.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 EMNU.DE.
EMNU.DE tracks MSCI Europe ESG Enhanced Focus, while H4ZA.DE tracks EURO STOXX® 50. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.12% for EMNU.DE and 0.05% for H4ZA.DE.
Find the right allocation for EMNU.DE and H4ZA.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer