H41E.DE vs. EUNZ.DE
H41E.DE (HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)) and EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) are both Emerging Markets Equities funds - H41E.DE tracks the MSCI Emerging Markets Value SRI ESG Target Select while EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility. Both are passively managed. Over the past 3 years, H41E.DE returned 27.78%/yr vs 11.07%/yr for EUNZ.DE. Their correlation of 0.81 suggests significant overlap in exposure. H41E.DE charges 0.35%/yr vs 0.40%/yr for EUNZ.DE.
Performance
H41E.DE vs. EUNZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H41E.DE achieves a 39.52% return, which is significantly higher than EUNZ.DE's 18.69% return.
H41E.DE
- 1D
- -1.46%
- 1M
- 8.62%
- YTD
- 39.52%
- 6M
- 41.09%
- 1Y
- 68.44%
- 3Y*
- 27.78%
- 5Y*
- —
- 10Y*
- —
EUNZ.DE
- 1D
- -1.19%
- 1M
- 3.85%
- YTD
- 18.69%
- 6M
- 17.92%
- 1Y
- 22.13%
- 3Y*
- 11.07%
- 5Y*
- 6.48%
- 10Y*
- 6.20%
H41E.DE vs. EUNZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) | 39.52% | 22.02% | 17.74% | 11.43% | -2.00% |
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -1.42% |
Correlation
The correlation between H41E.DE and EUNZ.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2022 | 0.81 |
The correlation between H41E.DE and EUNZ.DE has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
H41E.DE vs. EUNZ.DE — Risk / Return Rank
H41E.DE
EUNZ.DE
H41E.DE vs. EUNZ.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 Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.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 | EUNZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.35 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.35 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 7.09 | 3.00 | +4.09 |
| Martin ratioReturn relative to average drawdown | 25.00 | 10.57 | +14.44 |
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 | EUNZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.91 | 1.85 | +2.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.56 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.56 | 0.35 | +1.21 |
Drawdowns
H41E.DE vs. EUNZ.DE - Drawdown Comparison
The maximum H41E.DE drawdown since its inception was -20.92%, smaller than the maximum EUNZ.DE drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for H41E.DE and EUNZ.DE.
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Drawdown Indicators
| H41E.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.92% | -30.47% | +9.55% |
Max Drawdown (1Y)Largest decline over 1 year | -9.80% | -7.50% | -2.30% |
Max Drawdown (3Y)Largest decline over 3 years | -20.92% | -14.00% | -6.92% |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.15% | — |
Current DrawdownCurrent decline from peak | -3.33% | -1.96% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -3.10% | -7.62% | +4.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.13% | +0.66% |
Volatility
H41E.DE vs. EUNZ.DE - Volatility Comparison
HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) has a higher volatility of 7.97% compared to iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) at 4.75%. This indicates that H41E.DE's price experiences larger fluctuations and is considered to be riskier than EUNZ.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 | EUNZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.97% | 4.75% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.66% | 10.35% | +4.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 12.18% | +5.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.06% | 11.41% | +4.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 13.32% | +2.74% |
H41E.DE vs. EUNZ.DE - Expense Ratio Comparison
H41E.DE has a 0.35% expense ratio, which is lower than EUNZ.DE's 0.40% expense ratio.
Dividends
H41E.DE vs. EUNZ.DE - Dividend Comparison
Neither H41E.DE nor EUNZ.DE has paid dividends to shareholders.
Frequently Asked Questions
H41E.DE and EUNZ.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H41E.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H41E.DE is cheaper with a 0.35% expense ratio, compared with 0.40% for EUNZ.DE.
H41E.DE tracks MSCI Emerging Markets Value SRI ESG Target Select, while EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.35% for H41E.DE and 0.40% for EUNZ.DE.
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