EXHB.DE vs. H4ZK.DE
EXHB.DE (iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE)) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - EXHB.DE tracks the eb.rexx® Government Germany 1.5-2.5 while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, EXHB.DE returned 0.36% vs 0.79% for H4ZK.DE. At a 0.49 correlation, their price movements are largely independent. EXHB.DE charges 0.16%/yr vs 0.14%/yr for H4ZK.DE.
Performance
EXHB.DE vs. H4ZK.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EXHB.DE achieves a 0.10% return, which is significantly lower than H4ZK.DE's 0.20% return.
EXHB.DE
- 1D
- -0.04%
- 1M
- -0.17%
- 6M
- -0.10%
- YTD
- 0.10%
- 1Y
- 0.36%
- 3Y*
- 2.24%
- 5Y*
- 0.24%
- 10Y*
- -0.27%
H4ZK.DE
- 1D
- 0.10%
- 1M
- -0.10%
- 6M
- 0.00%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EXHB.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 0.10% | 1.77% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between EXHB.DE and H4ZK.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.49 |
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
EXHB.DE vs. H4ZK.DE — Risk / Return Rank
EXHB.DE
H4ZK.DE
EXHB.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.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.
| EXHB.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.28 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.13 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 0.62 | -0.31 |
| Martin ratioReturn relative to average drawdown | 0.85 | 2.06 | -1.21 |
Loading charts...
Drawdowns
EXHB.DE vs. H4ZK.DE - Drawdown Comparison
The maximum EXHB.DE drawdown since its inception was -9.97%, 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 EXHB.DE and H4ZK.DE.
Loading charts...
Drawdown Indicators
| EXHB.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.97% | -1.26% | -8.71% |
Max Drawdown (1Y)Largest decline over 1 year | -1.18% | -1.26% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -1.18% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -9.94% | — | — |
Current DrawdownCurrent decline from peak | -2.73% | -0.29% | -2.44% |
Average DrawdownAverage peak-to-trough decline | -2.11% | -0.19% | -1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.38% | +0.05% |
Volatility
EXHB.DE vs. H4ZK.DE - Volatility Comparison
The current volatility for iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) (EXHB.DE) is 0.38%, while HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) has a volatility of 0.41%. This indicates that EXHB.DE experiences smaller price fluctuations and is considered to be less risky than H4ZK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EXHB.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.38% | 0.41% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.15% | 1.23% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.28% | 1.38% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.73% | 1.40% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.44% | 1.40% | +0.04% |
EXHB.DE vs. H4ZK.DE - Expense Ratio Comparison
EXHB.DE has a 0.16% expense ratio, which is higher than H4ZK.DE's 0.14% 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
EXHB.DE vs. H4ZK.DE - Dividend Comparison
EXHB.DE's dividend yield for the trailing twelve months is around 1.39%, while H4ZK.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXHB.DE iShares eb.rexx Government Germany 1.5-2.5yr UCITS ETF (DE) | 1.39% | 0.96% | 0.72% | 0.60% | 1.05% | 0.97% | 0.80% | 1.06% | 0.97% | 1.50% | 1.42% | 1.49% |
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% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EXHB.DE and H4ZK.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZK.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZK.DE is cheaper with a 0.14% expense ratio, compared with 0.16% for EXHB.DE.
EXHB.DE tracks eb.rexx® Government Germany 1.5-2.5, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.16% for EXHB.DE and 0.14% for H4ZK.DE.
Find the right allocation for EXHB.DE and H4ZK.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