H411.DE vs. H4ZA.DE

Last updated Jun 5, 2026

H411.DE (HSBC MSCI AC Far East ex Japan UCITS ETF USD) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both exchange-traded funds - H411.DE is a Asia Pacific Equities fund tracking the MSCI AC Far East ex Japan, while H4ZA.DE is a Europe Equities fund tracking the EURO STOXX® 50. Both are passively managed. Over the past 10 years, H411.DE returned 11.02%/yr vs 10.80%/yr for H4ZA.DE. A 0.59 correlation means they provide meaningful diversification when combined. H411.DE charges 0.45%/yr vs 0.05%/yr for H4ZA.DE.

Performance

H411.DE vs. H4ZA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC MSCI AC Far East ex Japan UCITS ETF USD (H411.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, H411.DE achieves a 37.68% return, which is significantly higher than H4ZA.DE's 7.24% return. Both investments have delivered pretty close results over the past 10 years, with H411.DE having a 11.02% annualized return and H4ZA.DE not far behind at 10.80%.

H411.DE

• 1D: -2.09%
• 1M: 6.17%
• YTD: 37.68%
• 6M: 38.70%
• 1Y: 67.18%
• 3Y*: 25.29%
• 5Y*: 9.18%
• 10Y*: 11.02%

H4ZA.DE

• 1D: 0.77%
• 1M: 1.94%
• YTD: 7.24%
• 6M: 8.59%
• 1Y: 15.63%
• 3Y*: 16.60%
• 5Y*: 12.12%
• 10Y*: 10.80%

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

H411.DE vs. H4ZA.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
H411.DE HSBC MSCI AC Far East ex Japan UCITS ETF USD	37.68%	25.21%	18.89%	-1.55%	-16.07%	-1.90%	13.55%	22.02%	-11.68%	24.72%
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR	7.24%	22.26%	13.81%	22.59%	-8.87%	23.72%	-2.73%	30.07%	-11.96%	10.07%

Correlation

The correlation between H411.DE and H4ZA.DE is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Oct 1, 2013	0.59

The correlation between H411.DE and H4ZA.DE has been stable across timeframes, ranging from 0.54 to 0.59 - a consistent structural relationship.

Return for Risk

H411.DE vs. H4ZA.DE — Risk / Return Rank

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

H411.DE

H411.DE Risk / Return Rank: 74
H411.DE Sharpe Ratio Rank: 75
H411.DE Sortino Ratio Rank: 72
H411.DE Omega Ratio Rank: 89
H411.DE Calmar Ratio Rank: 78
H411.DE Martin Ratio Rank: 56

H4ZA.DE

H4ZA.DE Risk / Return Rank: 29
H4ZA.DE Sharpe Ratio Rank: 28
H4ZA.DE Sortino Ratio Rank: 29
H4ZA.DE Omega Ratio Rank: 28
H4ZA.DE Calmar Ratio Rank: 30
H4ZA.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.

H411.DE vs. H4ZA.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI AC Far East ex Japan UCITS ETF USD (H411.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.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.

	H411.DE	H4ZA.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.38	0.98	+1.40
Sortino ratio: Return per unit of downside risk	3.20	1.54	+1.66
Omega ratio: Gain probability vs. loss probability	1.54	1.18	+0.36
Calmar ratio: Return relative to maximum drawdown	3.89	1.43	+2.47
Martin ratio: Return relative to average drawdown	9.66	4.85	+4.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H411.DE vs. H4ZA.DE - Sharpe Ratio Comparison

The current H411.DE Sharpe Ratio is 2.38, which is higher than the H4ZA.DE Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of H411.DE and H4ZA.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

	H411.DE	H4ZA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	0.98	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.69	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.59	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.41	+0.07

Drawdowns

H411.DE vs. H4ZA.DE - Drawdown Comparison

The maximum H411.DE drawdown since its inception was -38.70%, roughly equal to the maximum H4ZA.DE drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for H411.DE and H4ZA.DE.

Drawdown Indicators

	H411.DE	H4ZA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.70%	-38.41%	-0.29%
Max Drawdown (1Y) Largest decline over 1 year	-17.51%	-10.97%	-6.54%
Max Drawdown (3Y) Largest decline over 3 years	-23.17%	-16.40%	-6.77%
Max Drawdown (5Y) Largest decline over 5 years	-34.49%	-23.26%	-11.23%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-38.41%	-0.29%
Current Drawdown Current decline from peak	-3.25%	-0.50%	-2.75%
Average Drawdown Average peak-to-trough decline	-13.29%	-7.84%	-5.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.07%	3.24%	+3.83%

Volatility

H411.DE vs. H4ZA.DE - Volatility Comparison

HSBC MSCI AC Far East ex Japan UCITS ETF USD (H411.DE) has a higher volatility of 8.34% compared to HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) at 4.95%. This indicates that H411.DE's price experiences larger fluctuations and is considered to be riskier than H4ZA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H411.DE	H4ZA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.34%	4.95%	+3.39%
Volatility (6M) Calculated over the trailing 6-month period	16.24%	12.99%	+3.25%
Volatility (1Y) Calculated over the trailing 1-year period	28.65%	15.99%	+12.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.66%	17.50%	+4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.44%	18.17%	+2.27%

H411.DE vs. H4ZA.DE - Expense Ratio Comparison

H411.DE has a 0.45% expense ratio, which is higher than H4ZA.DE's 0.05% expense ratio.

Dividends

H411.DE vs. H4ZA.DE - Dividend Comparison

H411.DE has not paid dividends to shareholders, while H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
H411.DE HSBC MSCI AC Far East ex Japan UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR	2.44%	2.49%	5.35%	2.93%	2.94%	1.94%	2.06%	2.84%	3.55%	2.73%	2.85%	2.70%

Frequently Asked Questions

Can I hold both H411.DE and H4ZA.DE in my portfolio?

H411.DE and H4ZA.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, H411.DE or H4ZA.DE?

On fees, H4ZA.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, H411.DE or H4ZA.DE?

H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 0.45% for H411.DE.

What is the main difference between H411.DE and H4ZA.DE?

H411.DE is categorized as Asia Pacific Equities, while H4ZA.DE is Europe Equities. H411.DE tracks MSCI AC Far East ex Japan, while H4ZA.DE tracks EURO STOXX® 50. Their fees differ too: 0.45% for H411.DE and 0.05% for H4ZA.DE.