H41C.DE vs. ETLQ.DE
H41C.DE (HSBC Developed World Sustainable Equity UCITS ETF USD) and ETLQ.DE (L&G Global Equity UCITS ETF) are both Global Equities funds - H41C.DE tracks the FTSE Developed ESG Low Carbon Select while ETLQ.DE tracks the Solactive Core Developed Markets Large & Mid Cap. Both are passively managed. Over the past 5 years, H41C.DE returned 12.71%/yr vs 13.10%/yr for ETLQ.DE. With a 0.97 correlation, they move nearly in lockstep. H41C.DE charges 0.18%/yr vs 0.10%/yr for ETLQ.DE.
Performance
H41C.DE vs. ETLQ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H41C.DE achieves a 14.28% return, which is significantly higher than ETLQ.DE's 10.88% return.
H41C.DE
- 1D
- 0.27%
- 1M
- 7.53%
- YTD
- 14.28%
- 6M
- 16.44%
- 1Y
- 29.03%
- 3Y*
- 17.63%
- 5Y*
- 12.71%
- 10Y*
- —
ETLQ.DE
- 1D
- 0.00%
- 1M
- 4.96%
- YTD
- 10.88%
- 6M
- 11.36%
- 1Y
- 23.93%
- 3Y*
- 17.73%
- 5Y*
- 13.10%
- 10Y*
- —
H41C.DE vs. ETLQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
H41C.DE HSBC Developed World Sustainable Equity UCITS ETF USD | 14.28% | 10.36% | 21.66% | 16.26% | -12.60% | 32.89% | 10.42% |
ETLQ.DE L&G Global Equity UCITS ETF | 10.88% | 8.14% | 26.10% | 20.83% | -13.64% | 32.63% | 10.96% |
Correlation
The correlation between H41C.DE and ETLQ.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2020 | 0.97 |
The correlation between H41C.DE and ETLQ.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
H41C.DE vs. ETLQ.DE — Risk / Return Rank
H41C.DE
ETLQ.DE
H41C.DE vs. ETLQ.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 L&G Global Equity UCITS ETF (ETLQ.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 | ETLQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.39 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.90 | 3.56 | +1.33 |
| Martin ratioReturn relative to average drawdown | 19.75 | 14.23 | +5.52 |
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 | ETLQ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.13 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.95 | 0.92 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.13 | 0.93 | +0.20 |
Drawdowns
H41C.DE vs. ETLQ.DE - Drawdown Comparison
The maximum H41C.DE drawdown since its inception was -20.76%, smaller than the maximum ETLQ.DE drawdown of -33.38%. Use the drawdown chart below to compare losses from any high point for H41C.DE and ETLQ.DE.
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Drawdown Indicators
| H41C.DE | ETLQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.76% | -33.38% | +12.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.90% | -6.68% | +0.78% |
Max Drawdown (3Y)Largest decline over 3 years | -20.76% | -21.58% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -20.76% | -21.58% | +0.82% |
Current DrawdownCurrent decline from peak | -0.14% | -0.34% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -4.33% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.47% | 1.68% | -0.21% |
Volatility
H41C.DE vs. ETLQ.DE - Volatility Comparison
HSBC Developed World Sustainable Equity UCITS ETF USD (H41C.DE) has a higher volatility of 3.01% compared to L&G Global Equity UCITS ETF (ETLQ.DE) at 2.68%. This indicates that H41C.DE's price experiences larger fluctuations and is considered to be riskier than ETLQ.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 | ETLQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 2.68% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 7.58% | 7.77% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.55% | 11.18% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.29% | 14.06% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.35% | 15.74% | -2.39% |
H41C.DE vs. ETLQ.DE - Expense Ratio Comparison
H41C.DE has a 0.18% expense ratio, which is higher than ETLQ.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. ETLQ.DE - Dividend Comparison
Neither H41C.DE nor ETLQ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, H41C.DE and ETLQ.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.
On fees, ETLQ.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETLQ.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 ETLQ.DE tracks Solactive Core Developed Markets Large & Mid Cap. They also come from different issuers: HSBC and Legal & General. Their fees differ too: 0.18% for H41C.DE and 0.10% for ETLQ.DE.
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