H4Z3.DE vs. FVEM.DE
H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and FVEM.DE (Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation) are both Emerging Markets Equities funds - H4Z3.DE tracks the MSCI Emerging Markets while FVEM.DE tracks the MSCI Emerging Markets Climate Paris Aligned. Both are passively managed. Over the past 3 years, H4Z3.DE returned 20.42%/yr vs 18.13%/yr for FVEM.DE. Their correlation of 0.93 suggests significant overlap in exposure. H4Z3.DE charges 0.15%/yr vs 0.18%/yr for FVEM.DE.
Performance
H4Z3.DE vs. FVEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4Z3.DE achieves a 27.75% return, which is significantly higher than FVEM.DE's 25.43% return.
H4Z3.DE
- 1D
- -1.67%
- 1M
- 3.67%
- YTD
- 27.75%
- 6M
- 28.22%
- 1Y
- 49.05%
- 3Y*
- 20.42%
- 5Y*
- —
- 10Y*
- —
FVEM.DE
- 1D
- -1.33%
- 1M
- 2.95%
- YTD
- 25.43%
- 6M
- 26.43%
- 1Y
- 46.35%
- 3Y*
- 18.13%
- 5Y*
- —
- 10Y*
- —
H4Z3.DE vs. FVEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 27.75% | 18.60% | 13.73% | 3.85% |
FVEM.DE Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation | 25.43% | 17.23% | 13.32% | 0.60% |
Correlation
The correlation between H4Z3.DE and FVEM.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2023 | 0.93 |
The correlation between H4Z3.DE and FVEM.DE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
H4Z3.DE vs. FVEM.DE — Risk / Return Rank
H4Z3.DE
FVEM.DE
H4Z3.DE vs. FVEM.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) and Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.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.
| H4Z3.DE | FVEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.47 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 4.42 | +0.34 |
| Martin ratioReturn relative to average drawdown | 17.12 | 16.79 | +0.33 |
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
| H4Z3.DE | FVEM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 2.66 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 1.08 | -0.17 |
Drawdowns
H4Z3.DE vs. FVEM.DE - Drawdown Comparison
The maximum H4Z3.DE drawdown since its inception was -18.86%, roughly equal to the maximum FVEM.DE drawdown of -18.76%. Use the drawdown chart below to compare losses from any high point for H4Z3.DE and FVEM.DE.
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Drawdown Indicators
| H4Z3.DE | FVEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.86% | -18.76% | -0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | -10.62% | +0.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.86% | -18.76% | -0.10% |
Current DrawdownCurrent decline from peak | -2.73% | -2.08% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -3.46% | -1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.80% | +0.12% |
Volatility
H4Z3.DE vs. FVEM.DE - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) and Franklin MSCI Emerging Markets Paris Aligned Climate UCITS ETF USD Capitalisation (FVEM.DE) have volatilities of 7.35% and 7.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4Z3.DE | FVEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.35% | 7.26% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 14.91% | 14.82% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.54% | 17.67% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 16.04% | -0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 16.04% | -0.27% |
H4Z3.DE vs. FVEM.DE - Expense Ratio Comparison
H4Z3.DE has a 0.15% expense ratio, which is lower than FVEM.DE's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
H4Z3.DE vs. FVEM.DE - Dividend Comparison
Neither H4Z3.DE nor FVEM.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, H4Z3.DE and FVEM.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, H4Z3.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z3.DE is cheaper with a 0.15% expense ratio, compared with 0.18% for FVEM.DE.
H4Z3.DE tracks MSCI Emerging Markets, while FVEM.DE tracks MSCI Emerging Markets Climate Paris Aligned. They also come from different issuers: HSBC and Franklin Templeton. Their fees differ too: 0.15% for H4Z3.DE and 0.18% for FVEM.DE.
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