H410.DE vs. H4ZL.DE
H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both exchange-traded funds - H410.DE is a Asia Pacific Equities fund tracking the MSCI Emerging Markets, while H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 10 years, H410.DE returned 9.77%/yr vs 2.35%/yr for H4ZL.DE. At a 0.48 correlation, their price movements are largely independent. H410.DE charges 0.15%/yr vs 0.24%/yr for H4ZL.DE.
Performance
H410.DE vs. H4ZL.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 H4ZL.DE's 6.32% return. Over the past 10 years, H410.DE has outperformed H4ZL.DE with an annualized return of 9.77%, while H4ZL.DE has yielded a comparatively lower 2.35% 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%
H4ZL.DE
- 1D
- -0.02%
- 1M
- -2.45%
- YTD
- 6.32%
- 6M
- 5.97%
- 1Y
- 6.50%
- 3Y*
- 3.13%
- 5Y*
- 0.30%
- 10Y*
- 2.35%
H410.DE vs. H4ZL.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% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 6.32% | -4.65% | 2.27% | 6.12% | -20.22% | 36.90% | -16.99% | 23.91% | -0.81% | -2.27% |
Correlation
The correlation between H410.DE and H4ZL.DE is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.48 |
The correlation between H410.DE and H4ZL.DE shifts across timeframes, from 0.33 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
H410.DE vs. H4ZL.DE — Risk / Return Rank
H410.DE
H4ZL.DE
H410.DE vs. H4ZL.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 FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.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 | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.23 | ||
| Sortino ratioReturn per unit of downside risk | +2.87 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.11 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 4.75 | 0.84 | +3.91 |
| Martin ratioReturn relative to average drawdown | 17.19 | 2.48 | +14.71 |
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 | H4ZL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.82 | 0.59 | +2.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | 0.02 | +0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.14 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.29 | +0.12 |
Drawdowns
H410.DE vs. H4ZL.DE - Drawdown Comparison
The maximum H410.DE drawdown since its inception was -36.25%, smaller than the maximum H4ZL.DE drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for H410.DE and H4ZL.DE.
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Drawdown Indicators
| H410.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.25% | -41.97% | +5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.48% | -7.82% | -2.66% |
Max Drawdown (3Y)Largest decline over 3 years | -18.96% | -20.68% | +1.72% |
Max Drawdown (5Y)Largest decline over 5 years | -23.76% | -30.45% | +6.69% |
Max Drawdown (10Y)Largest decline over 10 years | -31.68% | -41.97% | +10.29% |
Current DrawdownCurrent decline from peak | -2.80% | -13.81% | +11.01% |
Average DrawdownAverage peak-to-trough decline | -10.25% | -10.80% | +0.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.67% | +0.23% |
Volatility
H410.DE vs. H4ZL.DE - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) has a higher volatility of 7.30% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) at 2.88%. This indicates that H410.DE's price experiences larger fluctuations and is considered to be riskier than H4ZL.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 | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 2.88% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 14.96% | 8.34% | +6.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.70% | 11.21% | +6.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.64% | 14.69% | +1.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 16.27% | +1.90% |
H410.DE vs. H4ZL.DE - Expense Ratio Comparison
H410.DE has a 0.15% expense ratio, which is lower than H4ZL.DE's 0.24% expense ratio. Despite the difference, 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. H4ZL.DE - Dividend Comparison
H410.DE's dividend yield for the trailing twelve months is around 1.60%, while H4ZL.DE has not paid dividends to shareholders.
| 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% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 0.00% | 0.00% | 0.00% | 2.63% | 3.62% | 2.19% | 3.13% | 2.95% | 3.29% | 3.08% | 2.96% | 2.67% |
Frequently Asked Questions
H410.DE and H4ZL.DE have a correlation of 0.33, 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 0.24% for H4ZL.DE.
H410.DE is categorized as Asia Pacific Equities, while H4ZL.DE is REIT. H410.DE tracks MSCI Emerging Markets, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. Their fees differ too: 0.15% for H410.DE and 0.24% for H4ZL.DE.
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