H412.DE vs. V3YL.DE

Last updated Jun 5, 2026

H412.DE (HSBC USA Sustainable Equity UCITS ETF USD) and V3YL.DE (Vanguard ESG North America All Cap UCITS ETF (USD) Distributing) are both Large Cap Blend Equities funds - H412.DE tracks the FTSE USA ESG Low Carbon Select while V3YL.DE tracks the FTSE North America All Cap Choice Index. Both are passively managed. Over the past 3 years, H412.DE returned 18.35%/yr vs 18.67%/yr for V3YL.DE. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.

Performance

H412.DE vs. V3YL.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 Vanguard ESG North America All Cap UCITS ETF (USD) Distributing (V3YL.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, H412.DE achieves a 15.33% return, which is significantly higher than V3YL.DE's 11.04% return.

H412.DE

• 1D: 0.46%
• 1M: 8.41%
• YTD: 15.33%
• 6M: 16.66%
• 1Y: 32.69%
• 3Y*: 18.35%
• 5Y*: 13.98%
• 10Y*: —

V3YL.DE

• 1D: 0.09%
• 1M: 6.24%
• YTD: 11.04%
• 6M: 11.23%
• 1Y: 25.49%
• 3Y*: 18.67%
• 5Y*: —
• 10Y*: —

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

H412.DE vs. V3YL.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
H412.DE HSBC USA Sustainable Equity UCITS ETF USD	15.33%	6.12%	26.73%	17.60%	-13.05%
V3YL.DE Vanguard ESG North America All Cap UCITS ETF (USD) Distributing	11.04%	4.17%	31.45%	26.32%	-17.36%

Correlation

The correlation between H412.DE and V3YL.DE is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 19, 2022	0.95

The correlation between H412.DE and V3YL.DE has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

H412.DE vs. V3YL.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: 89
H412.DE Sharpe Ratio Rank: 88
H412.DE Sortino Ratio Rank: 88
H412.DE Omega Ratio Rank: 88
H412.DE Calmar Ratio Rank: 91
H412.DE Martin Ratio Rank: 89

V3YL.DE

V3YL.DE Risk / Return Rank: 57
V3YL.DE Sharpe Ratio Rank: 60
V3YL.DE Sortino Ratio Rank: 58
V3YL.DE Omega Ratio Rank: 59
V3YL.DE Calmar Ratio Rank: 54
V3YL.DE Martin Ratio Rank: 56

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. V3YL.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 Vanguard ESG North America All Cap UCITS ETF (USD) Distributing (V3YL.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.

	H412.DE	V3YL.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.90	1.97	+0.92
Sortino ratio: Return per unit of downside risk	3.94	2.71	+1.24
Omega ratio: Gain probability vs. loss probability	1.54	1.36	+0.18
Calmar ratio: Return relative to maximum drawdown	5.88	2.64	+3.24
Martin ratio: Return relative to average drawdown	19.52	9.53	+9.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H412.DE vs. V3YL.DE - Sharpe Ratio Comparison

The current H412.DE Sharpe Ratio is 2.90, which is higher than the V3YL.DE Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of H412.DE and V3YL.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

	H412.DE	V3YL.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.90	1.97	+0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.06	0.82	+0.24

Drawdowns

H412.DE vs. V3YL.DE - Drawdown Comparison

The maximum H412.DE drawdown since its inception was -24.35%, roughly equal to the maximum V3YL.DE drawdown of -24.77%. Use the drawdown chart below to compare losses from any high point for H412.DE and V3YL.DE.

Drawdown Indicators

	H412.DE	V3YL.DE	Difference
Max Drawdown Largest peak-to-trough decline	-24.35%	-24.77%	+0.42%
Max Drawdown (1Y) Largest decline over 1 year	-5.54%	-9.61%	+4.07%
Max Drawdown (3Y) Largest decline over 3 years	-24.35%	-24.77%	+0.42%
Max Drawdown (5Y) Largest decline over 5 years	-24.35%	—	—
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	-4.12%	-5.30%	+1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	2.67%	-1.00%

Volatility

H412.DE vs. V3YL.DE - Volatility Comparison

HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) and Vanguard ESG North America All Cap UCITS ETF (USD) Distributing (V3YL.DE) have volatilities of 3.27% and 3.16%, 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

	H412.DE	V3YL.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.27%	3.16%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.70%	8.81%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.23%	12.85%	-1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.70%	15.57%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.81%	15.57%	-0.76%

H412.DE vs. V3YL.DE - Expense Ratio Comparison

Both H412.DE and V3YL.DE have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

H412.DE vs. V3YL.DE - Dividend Comparison

H412.DE has not paid dividends to shareholders, while V3YL.DE's dividend yield for the trailing twelve months is around 0.63%.

Position	TTM	2025	2024	2023	2022
H412.DE HSBC USA Sustainable Equity UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%
V3YL.DE Vanguard ESG North America All Cap UCITS ETF (USD) Distributing	0.63%	0.71%	0.78%	0.99%	0.40%

Frequently Asked Questions

Can I hold both H412.DE and V3YL.DE in my portfolio?

With a correlation of 0.91, H412.DE and V3YL.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, H412.DE or V3YL.DE?

Both ETFs have the same 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, H412.DE or V3YL.DE?

H412.DE and V3YL.DE have the same expense ratio: 0.12% per year.

What is the main difference between H412.DE and V3YL.DE?

H412.DE tracks FTSE USA ESG Low Carbon Select, while V3YL.DE tracks FTSE North America All Cap Choice Index. They also come from different issuers: HSBC and Vanguard.