H4Z1.DE vs. EUNZ.DE
H4Z1.DE (HSBC Emerging Market Sustainable Equity UCITS ETF USD) and EUNZ.DE (iShares Edge MSCI EM Minimum Volatility UCITS ETF) are both Emerging Markets Equities funds - H4Z1.DE tracks the FTSE Emerging ESG Low Carbon Select while EUNZ.DE tracks the MSCI Emerging Markets Minimum Volatility. Both are passively managed. Over the past 5 years, H4Z1.DE returned 7.17%/yr vs 6.48%/yr for EUNZ.DE. Their correlation of 0.83 suggests significant overlap in exposure. H4Z1.DE charges 0.18%/yr vs 0.40%/yr for EUNZ.DE.
Performance
H4Z1.DE vs. EUNZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4Z1.DE achieves a 16.02% return, which is significantly lower than EUNZ.DE's 18.69% return.
H4Z1.DE
- 1D
- -0.86%
- 1M
- 0.82%
- YTD
- 16.02%
- 6M
- 14.48%
- 1Y
- 33.76%
- 3Y*
- 17.28%
- 5Y*
- 7.17%
- 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%
H4Z1.DE vs. EUNZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
H4Z1.DE HSBC Emerging Market Sustainable Equity UCITS ETF USD | 16.02% | 14.83% | 22.34% | 0.83% | -12.35% | 8.61% | 12.24% |
EUNZ.DE iShares Edge MSCI EM Minimum Volatility UCITS ETF | 18.69% | -0.15% | 15.73% | 3.85% | -8.85% | 13.05% | 8.16% |
Correlation
The correlation between H4Z1.DE and EUNZ.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2020 | 0.83 |
The correlation between H4Z1.DE and EUNZ.DE has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
H4Z1.DE vs. EUNZ.DE — Risk / Return Rank
H4Z1.DE
EUNZ.DE
H4Z1.DE vs. EUNZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Emerging Market Sustainable Equity UCITS ETF USD (H4Z1.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.
| H4Z1.DE | EUNZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.30 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.35 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 3.00 | +0.73 |
| Martin ratioReturn relative to average drawdown | 13.07 | 10.57 | +2.51 |
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
| H4Z1.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.15 | 1.85 | +0.30 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.56 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.35 | +0.28 |
Drawdowns
H4Z1.DE vs. EUNZ.DE - Drawdown Comparison
The maximum H4Z1.DE drawdown since its inception was -22.16%, smaller than the maximum EUNZ.DE drawdown of -30.47%. Use the drawdown chart below to compare losses from any high point for H4Z1.DE and EUNZ.DE.
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Drawdown Indicators
| H4Z1.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.16% | -30.47% | +8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -7.50% | -1.68% |
Max Drawdown (3Y)Largest decline over 3 years | -19.53% | -14.00% | -5.53% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -14.00% | -6.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.15% | — |
Current DrawdownCurrent decline from peak | -2.40% | -1.96% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -7.62% | -0.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.13% | +0.49% |
Volatility
H4Z1.DE vs. EUNZ.DE - Volatility Comparison
HSBC Emerging Market Sustainable Equity UCITS ETF USD (H4Z1.DE) has a higher volatility of 5.70% compared to iShares Edge MSCI EM Minimum Volatility UCITS ETF (EUNZ.DE) at 4.75%. This indicates that H4Z1.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
| H4Z1.DE | EUNZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 4.75% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 12.47% | 10.35% | +2.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.94% | 12.18% | +3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 11.41% | +4.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 13.32% | +2.85% |
H4Z1.DE vs. EUNZ.DE - Expense Ratio Comparison
H4Z1.DE has a 0.18% expense ratio, which is lower than EUNZ.DE's 0.40% expense ratio.
Dividends
H4Z1.DE vs. EUNZ.DE - Dividend Comparison
Neither H4Z1.DE nor EUNZ.DE has paid dividends to shareholders.
Frequently Asked Questions
H4Z1.DE and EUNZ.DE have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4Z1.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z1.DE is cheaper with a 0.18% expense ratio, compared with 0.40% for EUNZ.DE.
H4Z1.DE tracks FTSE Emerging ESG Low Carbon Select, while EUNZ.DE tracks MSCI Emerging Markets Minimum Volatility. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.18% for H4Z1.DE and 0.40% for EUNZ.DE.
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