EUNZ.DE vs. H410.DE
EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Emerging Markets Equities funds - EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 10 years, EUNZ.DE returned 6.45%/yr vs 9.78%/yr for H410.DE. Their correlation of 0.88 suggests significant overlap in exposure. EUNZ.DE charges 0.40%/yr vs 0.15%/yr for H410.DE.
Performance
EUNZ.DE vs. H410.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EUNZ.DE achieves a 21.72% return, which is significantly lower than H410.DE's 27.39% return. Over the past 10 years, EUNZ.DE has underperformed H410.DE with an annualized return of 6.45%, while H410.DE has yielded a comparatively higher 9.78% annualized return.
EUNZ.DE
- 1D
- -0.87%
- 1M
- 1.73%
- YTD
- 21.72%
- 6M
- 22.09%
- 1Y
- 26.01%
- 3Y*
- 12.76%
- 5Y*
- 6.65%
- 10Y*
- 6.45%
H410.DE
- 1D
- -1.24%
- 1M
- 0.53%
- YTD
- 27.39%
- 6M
- 29.46%
- 1Y
- 46.98%
- 3Y*
- 20.80%
- 5Y*
- 7.83%
- 10Y*
- 9.78%
EUNZ.DE vs. H410.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 21.72% | -0.12% | 15.71% | 3.83% | -8.85% | 13.09% | -2.49% | 10.54% | -1.87% | 11.39% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 27.39% | 18.65% | 13.95% | 4.67% | -13.87% | 4.04% | 6.95% | 21.14% | -11.36% | 21.12% |
Correlation
The correlation between EUNZ.DE and H410.DE is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2012 | 0.88 |
The correlation between EUNZ.DE and H410.DE has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.
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Return for Risk
EUNZ.DE vs. H410.DE — Risk / Return Rank
EUNZ.DE
H410.DE
EUNZ.DE vs. H410.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.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.
| EUNZ.DE | H410.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.44 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.45 | 4.44 | -0.99 |
| Martin ratioReturn relative to average drawdown | 11.93 | 15.04 | -3.11 |
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Drawdowns
EUNZ.DE vs. H410.DE - Drawdown Comparison
The maximum EUNZ.DE drawdown since its inception was -34.03%, smaller than the maximum H410.DE drawdown of -41.02%. Use the drawdown chart below to compare losses from any high point for EUNZ.DE and H410.DE.
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Drawdown Indicators
| EUNZ.DE | H410.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.03% | -41.02% | +6.99% |
Max Drawdown (1Y)Largest decline over 1 year | -7.51% | -10.47% | +2.96% |
Max Drawdown (3Y)Largest decline over 3 years | -14.00% | -19.01% | +5.01% |
Max Drawdown (5Y)Largest decline over 5 years | -14.00% | -23.75% | +9.75% |
Max Drawdown (10Y)Largest decline over 10 years | -26.16% | -31.62% | +5.46% |
Current DrawdownCurrent decline from peak | -2.72% | -5.04% | +2.32% |
Average DrawdownAverage peak-to-trough decline | -10.17% | -13.33% | +3.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.17% | 3.10% | -0.93% |
Volatility
EUNZ.DE vs. H410.DE - Volatility Comparison
The current volatility for iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) is 5.66%, while HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) has a volatility of 8.77%. This indicates that EUNZ.DE experiences smaller price fluctuations and is considered to be less risky than H410.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EUNZ.DE | H410.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 8.77% | -3.11% |
Volatility (6M)Calculated over the trailing 6-month period | 11.40% | 16.81% | -5.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.06% | 19.15% | -6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.61% | 17.00% | -5.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.34% | 18.27% | -4.93% |
EUNZ.DE vs. H410.DE - Expense Ratio Comparison
EUNZ.DE has a 0.40% expense ratio, which is higher than H410.DE's 0.15% expense ratio.
Dividends
EUNZ.DE vs. H410.DE - Dividend Comparison
EUNZ.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.60%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 1.60% | 2.00% | 2.40% | 2.59% | 3.11% | 2.00% | 1.69% | 2.03% | 2.20% | 1.62% | 1.71% | 2.28% |
Frequently Asked Questions
EUNZ.DE and H410.DE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H410.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H410.DE is cheaper with a 0.15% expense ratio, compared with 0.40% for EUNZ.DE.
EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.40% for EUNZ.DE and 0.15% for H410.DE.
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