H41E.DE vs. EUNI.DE

Last updated Apr 3, 2026

Compare and contrast key facts about HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) and iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE).

H41E.DE and EUNI.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. H41E.DE is a passively managed fund by HSBC that tracks the performance of the MSCI Emerging Markets Value SRI ESG Target Select. It was launched on Dec 7, 2022. EUNI.DE is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Small Cap. It was launched on Mar 6, 2009. Both H41E.DE and EUNI.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

H41E.DE vs. EUNI.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) and iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE). The values are adjusted to include any dividend payments, if applicable.

H41E.DE vs. EUNI.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)	8.50%	22.02%	17.74%	11.43%	-2.00%
EUNI.DE iShares MSCI Emerging Markets Small Cap UCITS ETF	4.29%	6.21%	8.18%	19.10%	-2.28%

Returns By Period

In the year-to-date period, H41E.DE achieves a 8.50% return, which is significantly higher than EUNI.DE's 4.29% return.

H41E.DE

• 1D: -1.40%
• 1M: -1.72%
• YTD: 8.50%
• 6M: 14.25%
• 1Y: 34.51%
• 3Y*: 18.30%
• 5Y*: —
• 10Y*: —

EUNI.DE

• 1D: -1.84%
• 1M: 0.00%
• YTD: 4.29%
• 6M: 4.72%
• 1Y: 17.31%
• 3Y*: 11.73%
• 5Y*: 6.64%
• 10Y*: 7.83%

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

H41E.DE vs. EUNI.DE - Expense Ratio Comparison

H41E.DE has a 0.35% expense ratio, which is lower than EUNI.DE's 0.74% expense ratio.

EUNI.DE

iShares MSCI Emerging Markets Small Cap UCITS ETF

H41E.DE

HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)

Return for Risk

H41E.DE vs. EUNI.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

H41E.DE

H41E.DE Risk / Return Rank: 88
H41E.DE Sharpe Ratio Rank: 87
H41E.DE Sortino Ratio Rank: 87
H41E.DE Omega Ratio Rank: 84
H41E.DE Calmar Ratio Rank: 92
H41E.DE Martin Ratio Rank: 91

EUNI.DE

EUNI.DE Risk / Return Rank: 59
EUNI.DE Sharpe Ratio Rank: 51
EUNI.DE Sortino Ratio Rank: 48
EUNI.DE Omega Ratio Rank: 47
EUNI.DE Calmar Ratio Rank: 78
EUNI.DE Martin Ratio Rank: 71

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.

H41E.DE vs. EUNI.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 Emerging Markets Small Cap UCITS ETF (EUNI.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	EUNI.DE	Difference
Sharpe ratio Return per unit of total volatility	1.87	0.97	+0.91
Sortino ratio Return per unit of downside risk	2.47	1.39	+1.08
Omega ratio Gain probability vs. loss probability	1.35	1.19	+0.16
Calmar ratio Return relative to maximum drawdown	4.06	2.66	+1.41
Martin ratio Return relative to average drawdown	14.53	8.88	+5.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H41E.DE vs. EUNI.DE - Sharpe Ratio Comparison

The current H41E.DE Sharpe Ratio is 1.87, which is higher than the EUNI.DE Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of H41E.DE and EUNI.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	H41E.DE	EUNI.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	0.97	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.44	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	0.37	+0.75

Correlation

The correlation between H41E.DE and EUNI.DE is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

H41E.DE vs. EUNI.DE - Dividend Comparison

H41E.DE has not paid dividends to shareholders, while EUNI.DE's dividend yield for the trailing twelve months is around 0.91%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EUNI.DE iShares MSCI Emerging Markets Small Cap UCITS ETF	0.91%	1.83%	1.74%	2.11%	2.47%	1.23%	1.77%	2.02%	2.14%	1.45%	2.00%	0.85%

Drawdowns

H41E.DE vs. EUNI.DE - Drawdown Comparison

The maximum H41E.DE drawdown since its inception was -20.92%, smaller than the maximum EUNI.DE drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for H41E.DE and EUNI.DE.

Drawdown Indicators

	H41E.DE	EUNI.DE	Difference
Max Drawdown Largest peak-to-trough decline	-20.92%	-41.89%	+20.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-10.76%	-0.11%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.89%	—
Current Drawdown Current decline from peak	-7.97%	-5.54%	-2.43%
Average Drawdown Average peak-to-trough decline	-3.19%	-10.66%	+7.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	2.38%	+0.36%

Volatility

H41E.DE vs. EUNI.DE - Volatility Comparison

The current volatility for HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) is 6.76%, while iShares MSCI Emerging Markets Small Cap UCITS ETF (EUNI.DE) has a volatility of 7.37%. This indicates that H41E.DE experiences smaller price fluctuations and is considered to be less risky than EUNI.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H41E.DE	EUNI.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.76%	7.37%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	12.39%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	18.34%	17.80%	+0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.44%	14.88%	+0.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.44%	16.68%	-1.24%