H41C.DE vs. CBUG.DE
H41C.DE (HSBC Developed World Sustainable Equity UCITS ETF USD) and CBUG.DE (iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist)) are both Global Equities funds - H41C.DE tracks the FTSE Developed ESG Low Carbon Select while CBUG.DE tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 3 years, H41C.DE returned 17.63%/yr vs 13.75%/yr for CBUG.DE. Their correlation of 0.82 suggests significant overlap in exposure. H41C.DE charges 0.18%/yr vs 0.10%/yr for CBUG.DE.
Performance
H41C.DE vs. CBUG.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with H41C.DE having a 14.28% return and CBUG.DE slightly higher at 14.43%.
H41C.DE
- 1D
- 0.27%
- 1M
- 7.53%
- YTD
- 14.28%
- 6M
- 16.44%
- 1Y
- 29.03%
- 3Y*
- 17.63%
- 5Y*
- 12.71%
- 10Y*
- —
CBUG.DE
- 1D
- 0.52%
- 1M
- 4.17%
- YTD
- 14.43%
- 6M
- 15.69%
- 1Y
- 28.51%
- 3Y*
- 13.75%
- 5Y*
- —
- 10Y*
- —
H41C.DE vs. CBUG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
H41C.DE HSBC Developed World Sustainable Equity UCITS ETF USD | 14.28% | 10.36% | 21.66% | 16.26% | -12.60% | 2.99% |
CBUG.DE iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) | 14.43% | 6.47% | 13.17% | 11.34% | -14.17% | 2.96% |
Correlation
The correlation between H41C.DE and CBUG.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.82 |
The correlation between H41C.DE and CBUG.DE has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.
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Return for Risk
H41C.DE vs. CBUG.DE — Risk / Return Rank
H41C.DE
CBUG.DE
H41C.DE vs. CBUG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Developed World Sustainable Equity UCITS ETF USD (H41C.DE) and iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.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.
| H41C.DE | CBUG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.37 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 4.90 | 3.94 | +0.96 |
| Martin ratioReturn relative to average drawdown | 19.75 | 14.66 | +5.08 |
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
| H41C.DE | CBUG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.04 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.42 | +0.71 |
Drawdowns
H41C.DE vs. CBUG.DE - Drawdown Comparison
The maximum H41C.DE drawdown since its inception was -20.76%, smaller than the maximum CBUG.DE drawdown of -24.59%. Use the drawdown chart below to compare losses from any high point for H41C.DE and CBUG.DE.
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Drawdown Indicators
| H41C.DE | CBUG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.76% | -24.59% | +3.83% |
Max Drawdown (1Y)Largest decline over 1 year | -5.90% | -7.21% | +1.31% |
Max Drawdown (3Y)Largest decline over 3 years | -20.76% | -24.59% | +3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -20.76% | — | — |
Current DrawdownCurrent decline from peak | -0.14% | 0.00% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -7.48% | +3.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.94% | -0.47% |
Volatility
H41C.DE vs. CBUG.DE - Volatility Comparison
The current volatility for HSBC Developed World Sustainable Equity UCITS ETF USD (H41C.DE) is 3.01%, while iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.DE) has a volatility of 3.41%. This indicates that H41C.DE experiences smaller price fluctuations and is considered to be less risky than CBUG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H41C.DE | CBUG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 3.41% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 7.58% | 9.78% | -2.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.55% | 13.90% | -3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.29% | 16.71% | -3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.35% | 16.71% | -3.36% |
H41C.DE vs. CBUG.DE - Expense Ratio Comparison
H41C.DE has a 0.18% expense ratio, which is higher than CBUG.DE's 0.10% 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
H41C.DE vs. CBUG.DE - Dividend Comparison
Neither H41C.DE nor CBUG.DE has paid dividends to shareholders.
Frequently Asked Questions
H41C.DE and CBUG.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUG.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for H41C.DE.
H41C.DE tracks FTSE Developed ESG Low Carbon Select, while CBUG.DE tracks MSCI ACWI SMID NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.18% for H41C.DE and 0.10% for CBUG.DE.
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