H410.DE vs. H4ZF.DE
H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) and H4ZF.DE (HSBC S&P 500 UCITS ETF USD) are both exchange-traded funds - H410.DE is a Asia Pacific Equities fund tracking the MSCI Emerging Markets, while H4ZF.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, H410.DE returned 9.77%/yr vs 15.80%/yr for H4ZF.DE. A 0.63 correlation means they provide meaningful diversification when combined. H410.DE charges 0.15%/yr vs 0.09%/yr for H4ZF.DE.
Performance
H410.DE vs. H4ZF.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H410.DE achieves a 27.49% return, which is significantly higher than H4ZF.DE's 11.35% return. Over the past 10 years, H410.DE has underperformed H4ZF.DE with an annualized return of 9.77%, while H4ZF.DE has yielded a comparatively higher 15.80% annualized return.
H410.DE
- 1D
- -1.81%
- 1M
- 3.71%
- YTD
- 27.49%
- 6M
- 27.95%
- 1Y
- 49.05%
- 3Y*
- 20.39%
- 5Y*
- 8.17%
- 10Y*
- 9.77%
H4ZF.DE
- 1D
- -0.12%
- 1M
- 4.35%
- YTD
- 11.35%
- 6M
- 10.84%
- 1Y
- 25.55%
- 3Y*
- 18.88%
- 5Y*
- 14.74%
- 10Y*
- 15.80%
H410.DE vs. H4ZF.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 27.49% | 18.61% | 13.89% | 4.66% | -13.80% | 3.98% | 7.04% | 21.02% | -11.31% | 21.15% |
H4ZF.DE HSBC S&P 500 UCITS ETF USD | 11.35% | 4.74% | 32.24% | 22.66% | -14.40% | 40.68% | 7.94% | 36.99% | 0.78% | 8.65% |
Correlation
The correlation between H410.DE and H4ZF.DE is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.63 |
The correlation between H410.DE and H4ZF.DE shifts across timeframes, from 0.56 (5 years) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
H410.DE vs. H4ZF.DE — Risk / Return Rank
H410.DE
H4ZF.DE
H410.DE vs. H4ZF.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) and HSBC S&P 500 UCITS ETF USD (H4ZF.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.
| H410.DE | H4ZF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.41 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 3.56 | +1.19 |
| Martin ratioReturn relative to average drawdown | 17.19 | 12.69 | +4.50 |
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
| H410.DE | H4ZF.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 2.20 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.96 | -0.47 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.97 | -0.44 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 1.03 | -0.61 |
Drawdowns
H410.DE vs. H4ZF.DE - Drawdown Comparison
The maximum H410.DE drawdown since its inception was -36.25%, which is greater than H4ZF.DE's maximum drawdown of -33.82%. Use the drawdown chart below to compare losses from any high point for H410.DE and H4ZF.DE.
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Drawdown Indicators
| H410.DE | H4ZF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.25% | -33.82% | -2.43% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -7.16% | -3.32% |
Max Drawdown (3Y)Largest decline over 3 years | -18.96% | -23.32% | +4.36% |
Max Drawdown (5Y)Largest decline over 5 years | -23.76% | -23.32% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | -31.68% | -33.82% | +2.14% |
Current DrawdownCurrent decline from peak | -2.80% | -0.44% | -2.36% |
Average DrawdownAverage peak-to-trough decline | -10.25% | -3.93% | -6.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.01% | +0.89% |
Volatility
H410.DE vs. H4ZF.DE - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) has a higher volatility of 7.30% compared to HSBC S&P 500 UCITS ETF USD (H4ZF.DE) at 2.68%. This indicates that H410.DE's price experiences larger fluctuations and is considered to be riskier than H4ZF.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H410.DE | H4ZF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 2.68% | +4.62% |
Volatility (6M)Calculated over the trailing 6-month period | 14.96% | 7.59% | +7.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.70% | 11.61% | +6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.64% | 15.20% | +1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 16.12% | +2.05% |
H410.DE vs. H4ZF.DE - Expense Ratio Comparison
H410.DE has a 0.15% expense ratio, which is higher than H4ZF.DE's 0.09% 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
H410.DE vs. H4ZF.DE - Dividend Comparison
H410.DE's dividend yield for the trailing twelve months is around 1.60%, more than H4ZF.DE's 0.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD | 1.60% | 2.00% | 2.40% | 2.58% | 3.11% | 2.00% | 1.69% | 2.03% | 2.20% | 1.62% | 1.71% | 2.28% |
H4ZF.DE HSBC S&P 500 UCITS ETF USD | 0.82% | 0.95% | 0.96% | 1.19% | 1.32% | 0.91% | 2.24% | 2.98% | 3.49% | 3.23% | 3.29% | 4.21% |
Frequently Asked Questions
H410.DE and H4ZF.DE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZF.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZF.DE is cheaper with a 0.09% expense ratio, compared with 0.15% for H410.DE.
H410.DE is categorized as Asia Pacific Equities, while H4ZF.DE is S&P 500. H410.DE tracks MSCI Emerging Markets, while H4ZF.DE tracks S&P 500 Index. Their fees differ too: 0.15% for H410.DE and 0.09% for H4ZF.DE.
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