H4Z1.DE vs. IQQE.DE
H4Z1.DE (HSBC Emerging Market Sustainable Equity UCITS ETF USD) and IQQE.DE (iShares MSCI EM UCITS ETF (Dist)) are both Emerging Markets Equities funds - H4Z1.DE tracks the FTSE Emerging ESG Low Carbon Select while IQQE.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, H4Z1.DE returned 7.17%/yr vs 8.39%/yr for IQQE.DE. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.18% expense ratio.
Performance
H4Z1.DE vs. IQQE.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 IQQE.DE's 27.09% 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*
- —
IQQE.DE
- 1D
- -1.70%
- 1M
- 3.86%
- YTD
- 27.09%
- 6M
- 27.76%
- 1Y
- 48.91%
- 3Y*
- 20.70%
- 5Y*
- 8.39%
- 10Y*
- 9.82%
H4Z1.DE vs. IQQE.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% |
IQQE.DE iShares MSCI EM UCITS ETF (Dist) | 27.09% | 19.76% | 13.75% | 5.63% | -14.17% | 4.20% | 15.18% |
Correlation
The correlation between H4Z1.DE and IQQE.DE is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2020 | 0.95 |
The correlation between H4Z1.DE and IQQE.DE has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
H4Z1.DE vs. IQQE.DE — Risk / Return Rank
H4Z1.DE
IQQE.DE
H4Z1.DE vs. IQQE.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 MSCI EM UCITS ETF (Dist) (IQQE.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 | IQQE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.50 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.73 | 4.59 | -0.87 |
| Martin ratioReturn relative to average drawdown | 13.07 | 16.67 | -3.60 |
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 | IQQE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.15 | 2.78 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.49 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.53 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.27 | +0.37 |
Drawdowns
H4Z1.DE vs. IQQE.DE - Drawdown Comparison
The maximum H4Z1.DE drawdown since its inception was -22.16%, smaller than the maximum IQQE.DE drawdown of -59.33%. Use the drawdown chart below to compare losses from any high point for H4Z1.DE and IQQE.DE.
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Drawdown Indicators
| H4Z1.DE | IQQE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.16% | -59.33% | +37.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -10.78% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -19.53% | -19.41% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -20.44% | -24.02% | +3.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.66% | — |
Current DrawdownCurrent decline from peak | -2.40% | -2.60% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -12.99% | +4.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.98% | -0.36% |
Volatility
H4Z1.DE vs. IQQE.DE - Volatility Comparison
The current volatility for HSBC Emerging Market Sustainable Equity UCITS ETF USD (H4Z1.DE) is 5.70%, while iShares MSCI EM UCITS ETF (Dist) (IQQE.DE) has a volatility of 7.24%. This indicates that H4Z1.DE experiences smaller price fluctuations and is considered to be less risky than IQQE.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 | IQQE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 7.24% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 12.47% | 15.03% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.94% | 17.83% | -1.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.24% | 16.78% | -0.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 18.33% | -2.16% |
H4Z1.DE vs. IQQE.DE - Expense Ratio Comparison
Both H4Z1.DE and IQQE.DE have an expense ratio of 0.18%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
H4Z1.DE vs. IQQE.DE - Dividend Comparison
H4Z1.DE has not paid dividends to shareholders, while IQQE.DE's dividend yield for the trailing twelve months is around 1.49%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4Z1.DE HSBC Emerging Market Sustainable Equity UCITS ETF USD | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IQQE.DE iShares MSCI EM UCITS ETF (Dist) | 1.49% | 1.87% | 2.19% | 2.34% | 2.91% | 1.99% | 1.53% | 1.75% | 1.94% | 1.42% | 1.83% | 2.22% |
Frequently Asked Questions
H4Z1.DE and IQQE.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.18% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z1.DE and IQQE.DE have the same expense ratio: 0.18% per year.
H4Z1.DE tracks FTSE Emerging ESG Low Carbon Select, while IQQE.DE tracks MSCI Emerging Markets. They also come from different issuers: HSBC and iShares.
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