EXXU.DE vs. H4Z6.DE

Last updated Jun 5, 2026

EXXU.DE (iShares Dow Jones China Offshore 50 UCITS ETF (DE)) and H4Z6.DE (HSBC MSCI China UCITS ETF USD (Acc)) are both China Equities funds - EXXU.DE tracks the Dow Jones China Offshore 50 while H4Z6.DE tracks the MSCI China. Both are passively managed. Over the past 3 years, EXXU.DE returned 6.92%/yr vs 7.78%/yr for H4Z6.DE. With a 0.97 correlation, they move nearly in lockstep. EXXU.DE charges 0.61%/yr vs 0.28%/yr for H4Z6.DE.

Performance

EXXU.DE vs. H4Z6.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Dow Jones China Offshore 50 UCITS ETF (DE) (EXXU.DE) and HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EXXU.DE achieves a -8.32% return, which is significantly lower than H4Z6.DE's -6.53% return.

EXXU.DE

• 1D: -0.26%
• 1M: -2.80%
• YTD: -8.32%
• 6M: -9.86%
• 1Y: -4.87%
• 3Y*: 6.92%
• 5Y*: -5.15%
• 10Y*: 3.37%

H4Z6.DE

• 1D: -0.38%
• 1M: -1.87%
• YTD: -6.53%
• 6M: -8.04%
• 1Y: 3.08%
• 3Y*: 7.78%
• 5Y*: —
• 10Y*: —

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

EXXU.DE vs. H4Z6.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EXXU.DE iShares Dow Jones China Offshore 50 UCITS ETF (DE)	-8.32%	12.86%	26.45%	-11.75%	-10.39%
H4Z6.DE HSBC MSCI China UCITS ETF USD (Acc)	-6.53%	16.48%	27.04%	-14.63%	-10.19%

Correlation

The correlation between EXXU.DE and H4Z6.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 26, 2022	0.97

The correlation between EXXU.DE and H4Z6.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

EXXU.DE vs. H4Z6.DE — Risk / Return Rank

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

EXXU.DE

EXXU.DE Risk / Return Rank: 7
EXXU.DE Sharpe Ratio Rank: 7
EXXU.DE Sortino Ratio Rank: 6
EXXU.DE Omega Ratio Rank: 6
EXXU.DE Calmar Ratio Rank: 7
EXXU.DE Martin Ratio Rank: 7

H4Z6.DE

H4Z6.DE Risk / Return Rank: 11
H4Z6.DE Sharpe Ratio Rank: 11
H4Z6.DE Sortino Ratio Rank: 11
H4Z6.DE Omega Ratio Rank: 11
H4Z6.DE Calmar Ratio Rank: 11
H4Z6.DE Martin Ratio Rank: 11

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.

EXXU.DE vs. H4Z6.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Dow Jones China Offshore 50 UCITS ETF (DE) (EXXU.DE) and HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.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.

	EXXU.DE	H4Z6.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.25	0.17	-0.42
Sortino ratio: Return per unit of downside risk	-0.22	0.37	-0.59
Omega ratio: Gain probability vs. loss probability	0.98	1.04	-0.07
Calmar ratio: Return relative to maximum drawdown	-0.25	0.18	-0.43
Martin ratio: Return relative to average drawdown	-0.53	0.38	-0.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EXXU.DE vs. H4Z6.DE - Sharpe Ratio Comparison

The current EXXU.DE Sharpe Ratio is -0.25, which is lower than the H4Z6.DE Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of EXXU.DE and H4Z6.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

	EXXU.DE	H4Z6.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.25	0.17	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.18	0.06	+0.12

Drawdowns

EXXU.DE vs. H4Z6.DE - Drawdown Comparison

The maximum EXXU.DE drawdown since its inception was -66.04%, which is greater than H4Z6.DE's maximum drawdown of -33.47%. Use the drawdown chart below to compare losses from any high point for EXXU.DE and H4Z6.DE.

Drawdown Indicators

	EXXU.DE	H4Z6.DE	Difference
Max Drawdown Largest peak-to-trough decline	-66.04%	-33.47%	-32.57%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	-16.85%	-2.45%
Max Drawdown (3Y) Largest decline over 3 years	-24.14%	-24.47%	+0.33%
Max Drawdown (5Y) Largest decline over 5 years	-50.42%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-58.37%	—	—
Current Drawdown Current decline from peak	-38.39%	-14.82%	-23.57%
Average Drawdown Average peak-to-trough decline	-26.60%	-13.91%	-12.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.26%	8.17%	+1.09%

Volatility

EXXU.DE vs. H4Z6.DE - Volatility Comparison

iShares Dow Jones China Offshore 50 UCITS ETF (DE) (EXXU.DE) and HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) have volatilities of 7.20% and 7.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EXXU.DE	H4Z6.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.20%	7.23%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.69%	13.11%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	18.60%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.10%	25.28%	+5.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.23%	25.28%	+1.95%

EXXU.DE vs. H4Z6.DE - Expense Ratio Comparison

EXXU.DE has a 0.61% expense ratio, which is higher than H4Z6.DE's 0.28% expense ratio.

Dividends

EXXU.DE vs. H4Z6.DE - Dividend Comparison

EXXU.DE's dividend yield for the trailing twelve months is around 4.69%, while H4Z6.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EXXU.DE iShares Dow Jones China Offshore 50 UCITS ETF (DE)	4.69%	4.28%	1.95%	2.92%	2.04%	0.96%	1.32%	1.66%	2.07%	2.12%	4.23%	2.75%
H4Z6.DE HSBC MSCI China UCITS ETF USD (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 EXXU.DE and H4Z6.DE in my portfolio?

With a correlation of 0.96, EXXU.DE and H4Z6.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.

Which ETF is better, EXXU.DE or H4Z6.DE?

On fees, H4Z6.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EXXU.DE or H4Z6.DE?

H4Z6.DE is cheaper with a 0.28% expense ratio, compared with 0.61% for EXXU.DE.

What is the main difference between EXXU.DE and H4Z6.DE?

EXXU.DE tracks Dow Jones China Offshore 50, while H4Z6.DE tracks MSCI China. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.61% for EXXU.DE and 0.28% for H4Z6.DE.