H4Z1.DE vs. WTEI.DE

Last updated Jun 5, 2026

H4Z1.DE (HSBC Emerging Market Sustainable Equity UCITS ETF USD) and WTEI.DE (WisdomTree Emerging Markets Equity Income UCITS ETF) are both Emerging Markets Equities funds - H4Z1.DE tracks the FTSE Emerging ESG Low Carbon Select while WTEI.DE tracks the WisdomTree Emerging Markets Equity Income. Both are passively managed. Over the past 5 years, H4Z1.DE returned 7.17%/yr vs 10.93%/yr for WTEI.DE. A 0.77 correlation means they provide meaningful diversification when combined. H4Z1.DE charges 0.18%/yr vs 0.46%/yr for WTEI.DE.

Performance

H4Z1.DE vs. WTEI.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC Emerging Market Sustainable Equity UCITS ETF USD (H4Z1.DE) and WisdomTree Emerging Markets Equity Income UCITS ETF (WTEI.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, H4Z1.DE achieves a 16.02% return, which is significantly lower than WTEI.DE's 19.49% 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*: —

WTEI.DE

• 1D: -1.03%
• 1M: 4.16%
• YTD: 19.49%
• 6M: 19.16%
• 1Y: 27.05%
• 3Y*: 15.85%
• 5Y*: 10.93%
• 10Y*: —

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

H4Z1.DE vs. WTEI.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%
WTEI.DE WisdomTree Emerging Markets Equity Income UCITS ETF	19.49%	7.76%	11.91%	16.94%	-7.18%	22.68%	9.73%

Correlation

The correlation between H4Z1.DE and WTEI.DE is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Sep 23, 2020	0.77

The correlation between H4Z1.DE and WTEI.DE has been stable across timeframes, ranging from 0.67 to 0.77 - a consistent structural relationship.

Return for Risk

H4Z1.DE vs. WTEI.DE — Risk / Return Rank

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

H4Z1.DE

H4Z1.DE Risk / Return Rank: 68
H4Z1.DE Sharpe Ratio Rank: 66
H4Z1.DE Sortino Ratio Rank: 65
H4Z1.DE Omega Ratio Rank: 62
H4Z1.DE Calmar Ratio Rank: 75
H4Z1.DE Martin Ratio Rank: 71

WTEI.DE

WTEI.DE Risk / Return Rank: 72
WTEI.DE Sharpe Ratio Rank: 65
WTEI.DE Sortino Ratio Rank: 65
WTEI.DE Omega Ratio Rank: 63
WTEI.DE Calmar Ratio Rank: 84
WTEI.DE Martin Ratio Rank: 83

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.

H4Z1.DE vs. WTEI.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 WisdomTree Emerging Markets Equity Income UCITS ETF (WTEI.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	WTEI.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.11	+0.04
Sortino ratio: Return per unit of downside risk	2.95	2.98	-0.03
Omega ratio: Gain probability vs. loss probability	1.37	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	3.73	4.45	-0.72
Martin ratio: Return relative to average drawdown	13.07	16.42	-3.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4Z1.DE vs. WTEI.DE - Sharpe Ratio Comparison

The current H4Z1.DE Sharpe Ratio is 2.15, which is comparable to the WTEI.DE Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of H4Z1.DE and WTEI.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	H4Z1.DE	WTEI.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.15	2.11	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.78	-0.34
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.89	-0.26

Drawdowns

H4Z1.DE vs. WTEI.DE - Drawdown Comparison

The maximum H4Z1.DE drawdown since its inception was -22.16%, which is greater than WTEI.DE's maximum drawdown of -16.73%. Use the drawdown chart below to compare losses from any high point for H4Z1.DE and WTEI.DE.

Drawdown Indicators

	H4Z1.DE	WTEI.DE	Difference
Max Drawdown Largest peak-to-trough decline	-22.16%	-16.73%	-5.43%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-6.00%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-19.53%	-15.97%	-3.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.44%	-16.73%	-3.71%
Current Drawdown Current decline from peak	-2.40%	-1.51%	-0.89%
Average Drawdown Average peak-to-trough decline	-8.60%	-4.01%	-4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	1.63%	+0.99%

Volatility

H4Z1.DE vs. WTEI.DE - Volatility Comparison

HSBC Emerging Market Sustainable Equity UCITS ETF USD (H4Z1.DE) has a higher volatility of 5.70% compared to WisdomTree Emerging Markets Equity Income UCITS ETF (WTEI.DE) at 4.57%. This indicates that H4Z1.DE's price experiences larger fluctuations and is considered to be riskier than WTEI.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4Z1.DE	WTEI.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.70%	4.57%	+1.13%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	9.66%	+2.81%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	12.64%	+3.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.24%	13.86%	+2.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.17%	13.97%	+2.20%

H4Z1.DE vs. WTEI.DE - Expense Ratio Comparison

H4Z1.DE has a 0.18% expense ratio, which is lower than WTEI.DE's 0.46% expense ratio.

Dividends

H4Z1.DE vs. WTEI.DE - Dividend Comparison

H4Z1.DE has not paid dividends to shareholders, while WTEI.DE's dividend yield for the trailing twelve months is around 3.73%.

Position	TTM	2025	2024	2023	2022	2021	2020
H4Z1.DE HSBC Emerging Market Sustainable Equity UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WTEI.DE WisdomTree Emerging Markets Equity Income UCITS ETF	3.73%	4.52%	7.52%	6.96%	7.43%	3.95%	1.46%

Frequently Asked Questions

Can I hold both H4Z1.DE and WTEI.DE in my portfolio?

H4Z1.DE and WTEI.DE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, H4Z1.DE or WTEI.DE?

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.

Which ETF is cheaper, H4Z1.DE or WTEI.DE?

H4Z1.DE is cheaper with a 0.18% expense ratio, compared with 0.46% for WTEI.DE.

What is the main difference between H4Z1.DE and WTEI.DE?

H4Z1.DE tracks FTSE Emerging ESG Low Carbon Select, while WTEI.DE tracks WisdomTree Emerging Markets Equity Income. They also come from different issuers: HSBC and WisdomTree. Their fees differ too: 0.18% for H4Z1.DE and 0.46% for WTEI.DE.