H41G.DE vs. H4ZL.DE
H41G.DE (HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc)) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both exchange-traded funds - H41G.DE is a Global Equities fund tracking the MSCI World Small Cap SRI ESG Leaders Select, while H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 3 years, H41G.DE returned 13.46%/yr vs 9.37%/yr for H4ZL.DE. A 0.67 correlation means they provide meaningful diversification when combined. H41G.DE charges 0.25%/yr vs 0.24%/yr for H4ZL.DE.
Performance
H41G.DE vs. H4ZL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H41G.DE achieves a 14.76% return, which is significantly higher than H4ZL.DE's 12.75% return.
H41G.DE
- 1D
- 0.00%
- 1M
- 3.53%
- YTD
- 14.76%
- 6M
- 15.01%
- 1Y
- 28.17%
- 3Y*
- 13.46%
- 5Y*
- —
- 10Y*
- —
H4ZL.DE
- 1D
- -0.23%
- 1M
- 2.21%
- YTD
- 12.75%
- 6M
- 13.94%
- 1Y
- 15.88%
- 3Y*
- 9.37%
- 5Y*
- —
- 10Y*
- —
H41G.DE vs. H4ZL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
H41G.DE HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) | 14.76% | 3.96% | 12.21% | 11.87% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 12.75% | -1.48% | 5.75% | 6.44% |
Correlation
The correlation between H41G.DE and H4ZL.DE is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2023 | 0.67 |
The correlation between H41G.DE and H4ZL.DE shifts across timeframes, from 0.55 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
H41G.DE vs. H4ZL.DE — Risk / Return Rank
H41G.DE
H4ZL.DE
H41G.DE vs. H4ZL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) (H41G.DE) and HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| H41G.DE | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.24 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 2.03 | +1.46 |
| Martin ratioReturn relative to average drawdown | 13.65 | 7.07 | +6.58 |
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Drawdowns
H41G.DE vs. H4ZL.DE - Drawdown Comparison
The maximum H41G.DE drawdown since its inception was -24.84%, which is greater than H4ZL.DE's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for H41G.DE and H4ZL.DE.
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Drawdown Indicators
| H41G.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.84% | -20.11% | -4.73% |
Max Drawdown (1Y)Largest decline over 1 year | -8.12% | -7.84% | -0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -24.84% | -20.11% | -4.73% |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -4.80% | -6.58% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 2.25% | -0.18% |
Volatility
H41G.DE vs. H4ZL.DE - Volatility Comparison
The current volatility for HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) (H41G.DE) is 2.68%, while HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) has a volatility of 3.58%. This indicates that H41G.DE experiences smaller price fluctuations and is considered to be less risky than H4ZL.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H41G.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.68% | 3.58% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 9.95% | 8.68% | +1.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.53% | 11.34% | +2.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.70% | 14.00% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.70% | 14.00% | +1.70% |
H41G.DE vs. H4ZL.DE - Expense Ratio Comparison
H41G.DE has a 0.25% expense ratio, which is higher than H4ZL.DE's 0.24% 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
H41G.DE vs. H4ZL.DE - Dividend Comparison
H41G.DE has not paid dividends to shareholders, while H4ZL.DE's dividend yield for the trailing twelve months is around 2.90%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
H41G.DE HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 2.90% | 3.31% | 3.28% | 3.42% |
Frequently Asked Questions
H41G.DE and H4ZL.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZL.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZL.DE is cheaper with a 0.24% expense ratio, compared with 0.25% for H41G.DE.
H41G.DE is categorized as Global Equities, while H4ZL.DE is REIT. H41G.DE tracks MSCI World Small Cap SRI ESG Leaders Select, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. Their fees differ too: 0.25% for H41G.DE and 0.24% for H4ZL.DE.
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