EMXC.DE vs. H4Z3.DE
EMXC.DE (Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc) and H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - EMXC.DE tracks the MSCI EM NR USD while H4Z3.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 3 years, EMXC.DE returned 25.05%/yr vs 20.42%/yr for H4Z3.DE. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.15% expense ratio.
Performance
EMXC.DE vs. H4Z3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EMXC.DE achieves a 40.23% return, which is significantly higher than H4Z3.DE's 27.75% return.
EMXC.DE
- 1D
- -1.80%
- 1M
- 8.39%
- YTD
- 40.23%
- 6M
- 44.14%
- 1Y
- 69.02%
- 3Y*
- 25.05%
- 5Y*
- 13.66%
- 10Y*
- —
H4Z3.DE
- 1D
- -1.67%
- 1M
- 6.24%
- YTD
- 27.75%
- 6M
- 29.51%
- 1Y
- 50.16%
- 3Y*
- 20.42%
- 5Y*
- —
- 10Y*
- —
EMXC.DE vs. H4Z3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
EMXC.DE Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc | 40.23% | 19.92% | 9.13% | 14.33% | -1.82% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 27.75% | 18.60% | 13.73% | 4.66% | -6.26% |
Correlation
The correlation between EMXC.DE and H4Z3.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.85 |
The correlation between EMXC.DE and H4Z3.DE has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.
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Return for Risk
EMXC.DE vs. H4Z3.DE — Risk / Return Rank
EMXC.DE
H4Z3.DE
EMXC.DE vs. H4Z3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.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.
| EMXC.DE | H4Z3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.52 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.78 | 4.77 | +1.02 |
| Martin ratioReturn relative to average drawdown | 21.97 | 17.12 | +4.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| EMXC.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.46 | 2.85 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.91 | -0.21 |
Drawdowns
EMXC.DE vs. H4Z3.DE - Drawdown Comparison
The maximum EMXC.DE drawdown since its inception was -38.77%, which is greater than H4Z3.DE's maximum drawdown of -18.86%. Use the drawdown chart below to compare losses from any high point for EMXC.DE and H4Z3.DE.
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Drawdown Indicators
| EMXC.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.77% | -18.86% | -19.91% |
Max Drawdown (1Y)Largest decline over 1 year | -11.87% | -10.47% | -1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -20.48% | -18.86% | -1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.48% | — | — |
Current DrawdownCurrent decline from peak | -2.53% | -2.73% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -6.73% | -4.95% | -1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 2.92% | +0.21% |
Volatility
EMXC.DE vs. H4Z3.DE - Volatility Comparison
Lyxor MSCI Emerging Markets Ex China UCITS ETF - Acc (EMXC.DE) has a higher volatility of 8.44% compared to HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) at 7.35%. This indicates that EMXC.DE's price experiences larger fluctuations and is considered to be riskier than H4Z3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMXC.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.44% | 7.35% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 17.23% | 14.91% | +2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.85% | 17.54% | +2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 15.77% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.50% | 15.77% | +2.73% |
EMXC.DE vs. H4Z3.DE - Expense Ratio Comparison
Both EMXC.DE and H4Z3.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
EMXC.DE vs. H4Z3.DE - Dividend Comparison
Neither EMXC.DE nor H4Z3.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, EMXC.DE and H4Z3.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.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
EMXC.DE and H4Z3.DE have the same expense ratio: 0.15% per year.
EMXC.DE tracks MSCI EM NR USD, while H4Z3.DE tracks MSCI Emerging Markets. They also come from different issuers: Amundi and HSBC.
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