H41E.DE vs. 84X0.DE
H41E.DE (HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)) and 84X0.DE (iShares MSCI EM ex-China UCITS ETF USD Acc) are both Emerging Markets Equities funds - H41E.DE tracks the MSCI Emerging Markets Value SRI ESG Target Select while 84X0.DE tracks the MSCI Emerging Markets ex China Index (Net). Both are passively managed. Over the past year, H41E.DE returned 68.44% vs 67.73% for 84X0.DE. Their correlation of 0.86 suggests significant overlap in exposure. H41E.DE charges 0.35%/yr vs 0.18%/yr for 84X0.DE.
Performance
H41E.DE vs. 84X0.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with H41E.DE having a 39.52% return and 84X0.DE slightly higher at 40.37%.
H41E.DE
- 1D
- -1.46%
- 1M
- 8.62%
- YTD
- 39.52%
- 6M
- 41.09%
- 1Y
- 68.44%
- 3Y*
- 27.78%
- 5Y*
- —
- 10Y*
- —
84X0.DE
- 1D
- -1.73%
- 1M
- 5.67%
- YTD
- 40.37%
- 6M
- 42.72%
- 1Y
- 67.73%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
H41E.DE vs. 84X0.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) | 39.52% | 22.02% | 17.74% | 3.83% |
84X0.DE iShares MSCI EM ex-China UCITS ETF USD Acc | 40.37% | 19.85% | 9.62% | 7.38% |
Correlation
The correlation between H41E.DE and 84X0.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 (All Time) Calculated using the full available price history since Nov 6, 2023 | 0.86 |
The correlation between H41E.DE and 84X0.DE has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
H41E.DE vs. 84X0.DE — Risk / Return Rank
H41E.DE
84X0.DE
H41E.DE vs. 84X0.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) and iShares MSCI EM ex-China UCITS ETF USD Acc (84X0.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.
| H41E.DE | 84X0.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.64 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 7.09 | 5.88 | +1.22 |
| Martin ratioReturn relative to average drawdown | 25.00 | 21.92 | +3.08 |
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
| H41E.DE | 84X0.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.91 | 3.52 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.56 | 1.77 | -0.21 |
Drawdowns
H41E.DE vs. 84X0.DE - Drawdown Comparison
The maximum H41E.DE drawdown since its inception was -20.92%, which is greater than 84X0.DE's maximum drawdown of -19.72%. Use the drawdown chart below to compare losses from any high point for H41E.DE and 84X0.DE.
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Drawdown Indicators
| H41E.DE | 84X0.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.92% | -19.72% | -1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -9.80% | -11.66% | +1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -20.92% | — | — |
Current DrawdownCurrent decline from peak | -3.33% | -2.49% | -0.84% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -2.70% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 3.13% | -0.34% |
Volatility
H41E.DE vs. 84X0.DE - Volatility Comparison
The current volatility for HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) is 7.97%, while iShares MSCI EM ex-China UCITS ETF USD Acc (84X0.DE) has a volatility of 8.41%. This indicates that H41E.DE experiences smaller price fluctuations and is considered to be less risky than 84X0.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H41E.DE | 84X0.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.97% | 8.41% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 14.66% | 16.93% | -2.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 19.46% | -1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 17.11% | -1.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 17.11% | -1.05% |
H41E.DE vs. 84X0.DE - Expense Ratio Comparison
H41E.DE has a 0.35% expense ratio, which is higher than 84X0.DE's 0.18% expense ratio.
Dividends
H41E.DE vs. 84X0.DE - Dividend Comparison
Neither H41E.DE nor 84X0.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, H41E.DE and 84X0.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, 84X0.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
84X0.DE is cheaper with a 0.18% expense ratio, compared with 0.35% for H41E.DE.
H41E.DE tracks MSCI Emerging Markets Value SRI ESG Target Select, while 84X0.DE tracks MSCI Emerging Markets ex China Index (Net). They also come from different issuers: HSBC and iShares. Their fees differ too: 0.35% for H41E.DE and 0.18% for 84X0.DE.
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