H412.DE vs. FTGU.DE

Last updated Jul 16, 2026

H412.DE (HSBC USA Sustainable Equity UCITS ETF USD) and FTGU.DE (First Trust US Large Cap Core AlphaDEX UCITS ETF Class A USD) are both Large Cap Blend Equities funds - H412.DE tracks the FTSE USA ESG Low Carbon Select while FTGU.DE tracks the Nasdaq AlphaDEX Large Cap Core NTR Index. Both are passively managed. Over the past 5 years, H412.DE returned 12.80%/yr vs 11.49%/yr for FTGU.DE. Their correlation of 0.80 suggests significant overlap in exposure. H412.DE charges 0.12%/yr vs 0.65%/yr for FTGU.DE.

Performance

H412.DE vs. FTGU.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) and First Trust US Large Cap Core AlphaDEX UCITS ETF Class A USD (FTGU.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with H412.DE having a 16.09% return and FTGU.DE slightly higher at 16.48%.

H412.DE

• 1D: 0.00%
• 1M: 0.70%
• 6M: 15.92%
• YTD: 16.09%
• 1Y: 29.05%
• 3Y*: 18.78%
• 5Y*: 12.80%
• 10Y*: —

FTGU.DE

• 1D: -0.23%
• 1M: -1.01%
• 6M: 12.79%
• YTD: 16.48%
• 1Y: 25.18%
• 3Y*: 16.81%
• 5Y*: 11.49%
• 10Y*: —

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

H412.DE vs. FTGU.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
H412.DE HSBC USA Sustainable Equity UCITS ETF USD	16.09%	6.12%	26.73%	17.60%	-13.13%	39.39%	7.95%
FTGU.DE First Trust US Large Cap Core AlphaDEX UCITS ETF Class A USD	16.48%	2.82%	23.34%	10.92%	-7.47%	38.46%	13.61%

Correlation

The correlation between H412.DE and FTGU.DE is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jul 15, 2020	0.80

The correlation between H412.DE and FTGU.DE has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

Return for Risk

H412.DE vs. FTGU.DE — Risk / Return Rank

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

H412.DE

H412.DE Risk / Return Rank: 91
H412.DE Sharpe Ratio Rank: 91
H412.DE Sortino Ratio Rank: 90
H412.DE Omega Ratio Rank: 90
H412.DE Calmar Ratio Rank: 93
H412.DE Martin Ratio Rank: 92

FTGU.DE

FTGU.DE Risk / Return Rank: 90
FTGU.DE Sharpe Ratio Rank: 88
FTGU.DE Sortino Ratio Rank: 88
FTGU.DE Omega Ratio Rank: 85
FTGU.DE Calmar Ratio Rank: 96
FTGU.DE Martin Ratio Rank: 93

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.

H412.DE vs. FTGU.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) and First Trust US Large Cap Core AlphaDEX UCITS ETF Class A USD (FTGU.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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	H412.DE	FTGU.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.31	+0.18
Sortino ratio: Return per unit of downside risk	3.40	3.24	+0.16
Omega ratio: Gain probability vs. loss probability	1.46	1.41	+0.05
Calmar ratio: Return relative to maximum drawdown	5.27	7.52	-2.25
Martin ratio: Return relative to average drawdown	17.56	19.59	-2.03

H412.DE vs. FTGU.DE - Sharpe Ratio Comparison

The current H412.DE Sharpe Ratio is 2.49, which is comparable to the FTGU.DE Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of H412.DE and FTGU.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.

Drawdowns

H412.DE vs. FTGU.DE - Drawdown Comparison

The maximum H412.DE drawdown since its inception was -24.35%, smaller than the maximum FTGU.DE drawdown of -99.98%. Use the drawdown chart below to compare losses from any high point for H412.DE and FTGU.DE.

Drawdown Indicators

	H412.DE	FTGU.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.35%	-99.98%	+75.63%
Max Drawdown (1Y) Largest decline over 1 year	-5.54%	-3.70%	-1.84%
Max Drawdown (3Y) Largest decline over 3 years	-24.35%	-24.38%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-24.35%	-24.38%	+0.03%
Current Drawdown Current decline from peak	-0.70%	-3.21%	+2.51%
Average Drawdown Average peak-to-trough decline	-3.98%	-5.12%	+1.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	1.42%	+0.24%

Volatility

H412.DE vs. FTGU.DE - Volatility Comparison

The current volatility for HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) is 2.91%, while First Trust US Large Cap Core AlphaDEX UCITS ETF Class A USD (FTGU.DE) has a volatility of 3.76%. This indicates that H412.DE experiences smaller price fluctuations and is considered to be less risky than FTGU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H412.DE	FTGU.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	3.76%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	8.54%	8.22%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.75%	12.21%	-0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.78%	15.48%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.45%	132,531.53%	-132,517.08%

H412.DE vs. FTGU.DE - Expense Ratio Comparison

H412.DE has a 0.12% expense ratio, which is lower than FTGU.DE's 0.65% expense ratio.

Dividends

H412.DE vs. FTGU.DE - Dividend Comparison

Neither H412.DE nor FTGU.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both H412.DE and FTGU.DE in my portfolio?

H412.DE and FTGU.DE have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, H412.DE or FTGU.DE?

On fees, H412.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, H412.DE or FTGU.DE?

H412.DE is cheaper with a 0.12% expense ratio, compared with 0.65% for FTGU.DE.

What is the main difference between H412.DE and FTGU.DE?

H412.DE tracks FTSE USA ESG Low Carbon Select, while FTGU.DE tracks Nasdaq AlphaDEX Large Cap Core NTR Index. They also come from different issuers: HSBC and First Trust. Their fees differ too: 0.12% for H412.DE and 0.65% for FTGU.DE.