EXSE.DE vs. H4ZZ.DE

Last updated Jun 5, 2026

EXSE.DE (iShares STOXX Europe Small 200 UCITS ETF (DE)) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - EXSE.DE tracks the STOXX® Europe Small 200 while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past 3 years, EXSE.DE returned 11.63%/yr vs 15.64%/yr for H4ZZ.DE. Their correlation of 0.84 suggests significant overlap in exposure. EXSE.DE charges 0.20%/yr vs 0.05%/yr for H4ZZ.DE.

Performance

EXSE.DE vs. H4ZZ.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares STOXX Europe Small 200 UCITS ETF (DE) (EXSE.DE) and HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EXSE.DE having a 7.33% return and H4ZZ.DE slightly lower at 7.20%.

EXSE.DE

• 1D: 0.55%
• 1M: 1.10%
• YTD: 7.33%
• 6M: 10.98%
• 1Y: 15.08%
• 3Y*: 11.63%
• 5Y*: 3.52%
• 10Y*: 7.21%

H4ZZ.DE

• 1D: 0.77%
• 1M: 1.96%
• YTD: 7.20%
• 6M: 8.56%
• 1Y: 15.62%
• 3Y*: 15.64%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EXSE.DE vs. H4ZZ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EXSE.DE iShares STOXX Europe Small 200 UCITS ETF (DE)	7.33%	18.59%	3.15%	12.44%	-1.63%
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)	7.20%	22.35%	10.99%	22.53%	9.82%

Correlation

The correlation between EXSE.DE and H4ZZ.DE is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022	0.84

The correlation between EXSE.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

EXSE.DE vs. H4ZZ.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EXSE.DE

EXSE.DE Risk / Return Rank: 33
EXSE.DE Sharpe Ratio Rank: 32
EXSE.DE Sortino Ratio Rank: 32
EXSE.DE Omega Ratio Rank: 32
EXSE.DE Calmar Ratio Rank: 31
EXSE.DE Martin Ratio Rank: 36

H4ZZ.DE

H4ZZ.DE Risk / Return Rank: 29
H4ZZ.DE Sharpe Ratio Rank: 28
H4ZZ.DE Sortino Ratio Rank: 29
H4ZZ.DE Omega Ratio Rank: 28
H4ZZ.DE Calmar Ratio Rank: 30
H4ZZ.DE Martin Ratio Rank: 33

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EXSE.DE vs. H4ZZ.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares STOXX Europe Small 200 UCITS ETF (DE) (EXSE.DE) and HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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.

	EXSE.DE	H4ZZ.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.98	+0.18
Sortino ratio: Return per unit of downside risk	1.69	1.54	+0.16
Omega ratio: Gain probability vs. loss probability	1.21	1.18	+0.03
Calmar ratio: Return relative to maximum drawdown	1.49	1.43	+0.06
Martin ratio: Return relative to average drawdown	5.48	4.86	+0.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXSE.DE vs. H4ZZ.DE - Sharpe Ratio Comparison

The current EXSE.DE Sharpe Ratio is 1.16, which is comparable to the H4ZZ.DE Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of EXSE.DE and H4ZZ.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EXSE.DE	H4ZZ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.98	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.18	-0.78

Drawdowns

EXSE.DE vs. H4ZZ.DE - Drawdown Comparison

The maximum EXSE.DE drawdown since its inception was -62.51%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for EXSE.DE and H4ZZ.DE.

Drawdown Indicators

	EXSE.DE	H4ZZ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-62.51%	-16.46%	-46.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.36%	-10.94%	+0.58%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-16.46%	+0.85%
Max Drawdown (5Y) Largest decline over 5 years	-35.13%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.03%	—	—
Current Drawdown Current decline from peak	-1.14%	-0.53%	-0.61%
Average Drawdown Average peak-to-trough decline	-12.96%	-2.68%	-10.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	3.23%	-0.41%

Volatility

EXSE.DE vs. H4ZZ.DE - Volatility Comparison

The current volatility for iShares STOXX Europe Small 200 UCITS ETF (DE) (EXSE.DE) is 3.72%, while HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a volatility of 4.93%. This indicates that EXSE.DE experiences smaller price fluctuations and is considered to be less risky than H4ZZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXSE.DE	H4ZZ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	4.93%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	12.97%	-2.10%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	15.97%	-2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	15.85%	+1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	15.85%	+1.49%

EXSE.DE vs. H4ZZ.DE - Expense Ratio Comparison

EXSE.DE has a 0.20% expense ratio, which is higher than H4ZZ.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

EXSE.DE vs. H4ZZ.DE - Dividend Comparison

EXSE.DE's dividend yield for the trailing twelve months is around 2.67%, while H4ZZ.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXSE.DE iShares STOXX Europe Small 200 UCITS ETF (DE)	2.67%	2.91%	2.58%	2.29%	2.59%	1.43%	1.25%	2.13%	2.59%	3.45%	2.83%	2.87%
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)	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

Can I hold both EXSE.DE and H4ZZ.DE in my portfolio?

EXSE.DE and H4ZZ.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EXSE.DE or H4ZZ.DE?

On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EXSE.DE or H4ZZ.DE?

H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.20% for EXSE.DE.

What is the main difference between EXSE.DE and H4ZZ.DE?

EXSE.DE tracks STOXX® Europe Small 200, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.20% for EXSE.DE and 0.05% for H4ZZ.DE.