H41E.DE vs. AXQT.DE
H41E.DE (HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)) and AXQT.DE (AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc) are both Emerging Markets Equities funds - H41E.DE tracks the MSCI Emerging Markets Value SRI ESG Target Select while AXQT.DE tracks the MSCI Emerging Markets ex China Climate Paris Aligned. Both are passively managed. Over the past year, H41E.DE returned 68.44% vs 68.47% for AXQT.DE. Their correlation of 0.83 suggests significant overlap in exposure. H41E.DE charges 0.35%/yr vs 0.27%/yr for AXQT.DE.
Performance
H41E.DE vs. AXQT.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 AXQT.DE slightly higher at 40.98%.
H41E.DE
- 1D
- -1.46%
- 1M
- 8.62%
- YTD
- 39.52%
- 6M
- 41.09%
- 1Y
- 68.44%
- 3Y*
- 27.78%
- 5Y*
- —
- 10Y*
- —
AXQT.DE
- 1D
- -0.87%
- 1M
- 4.85%
- YTD
- 40.98%
- 6M
- 43.57%
- 1Y
- 68.47%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
H41E.DE vs. AXQT.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) | 39.52% | 18.19% |
AXQT.DE AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc | 40.98% | 15.03% |
Correlation
The correlation between H41E.DE and AXQT.DE is 0.82, 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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2025 | 0.83 |
The correlation between H41E.DE and AXQT.DE has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.
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Return for Risk
H41E.DE vs. AXQT.DE — Risk / Return Rank
H41E.DE
AXQT.DE
H41E.DE vs. AXQT.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 AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.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 | AXQT.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.64 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 7.09 | 6.01 | +1.08 |
| Martin ratioReturn relative to average drawdown | 25.00 | 22.04 | +2.96 |
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 | AXQT.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.91 | 3.62 | +0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.56 | 2.20 | -0.64 |
Drawdowns
H41E.DE vs. AXQT.DE - Drawdown Comparison
The maximum H41E.DE drawdown since its inception was -20.92%, which is greater than AXQT.DE's maximum drawdown of -18.65%. Use the drawdown chart below to compare losses from any high point for H41E.DE and AXQT.DE.
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Drawdown Indicators
| H41E.DE | AXQT.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.92% | -18.65% | -2.27% |
Max Drawdown (1Y)Largest decline over 1 year | -9.80% | -11.49% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -20.92% | — | — |
Current DrawdownCurrent decline from peak | -3.33% | -2.23% | -1.10% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -3.07% | -0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 3.14% | -0.35% |
Volatility
H41E.DE vs. AXQT.DE - Volatility Comparison
The current volatility for HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) is 7.97%, while AXA IM MSCI Emerging Markets ex-China Equity PAB UCITS ETF USD Acc (AXQT.DE) has a volatility of 8.70%. This indicates that H41E.DE experiences smaller price fluctuations and is considered to be less risky than AXQT.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 | AXQT.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.97% | 8.70% | -0.73% |
Volatility (6M)Calculated over the trailing 6-month period | 14.66% | 16.43% | -1.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 19.11% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 20.01% | -3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 20.01% | -3.95% |
H41E.DE vs. AXQT.DE - Expense Ratio Comparison
H41E.DE has a 0.35% expense ratio, which is higher than AXQT.DE's 0.27% expense ratio.
Dividends
H41E.DE vs. AXQT.DE - Dividend Comparison
Neither H41E.DE nor AXQT.DE has paid dividends to shareholders.
Frequently Asked Questions
H41E.DE and AXQT.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, AXQT.DE is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.
AXQT.DE is cheaper with a 0.27% expense ratio, compared with 0.35% for H41E.DE.
H41E.DE tracks MSCI Emerging Markets Value SRI ESG Target Select, while AXQT.DE tracks MSCI Emerging Markets ex China Climate Paris Aligned. They also come from different issuers: HSBC and AXA IM. Their fees differ too: 0.35% for H41E.DE and 0.27% for AXQT.DE.
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