H4Z3.DE vs. IBC4.DE
H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and IBC4.DE (iShares MSCI South Africa UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - H4Z3.DE tracks the MSCI Emerging Markets while IBC4.DE tracks the MSCI South Africa Capped Index. Both are passively managed. Over the past 3 years, H4Z3.DE returned 18.99%/yr vs 19.22%/yr for IBC4.DE. A 0.62 correlation means they provide meaningful diversification when combined. H4Z3.DE charges 0.15%/yr vs 0.65%/yr for IBC4.DE.
Performance
H4Z3.DE vs. IBC4.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, H4Z3.DE achieves a 22.06% return, which is significantly higher than IBC4.DE's -5.68% return.
H4Z3.DE
- 1D
- 0.00%
- 1M
- -8.24%
- 6M
- 14.07%
- YTD
- 22.06%
- 1Y
- 36.90%
- 3Y*
- 18.99%
- 5Y*
- —
- 10Y*
- —
IBC4.DE
- 1D
- -1.35%
- 1M
- -6.12%
- 6M
- -11.48%
- YTD
- -5.68%
- 1Y
- 25.51%
- 3Y*
- 19.22%
- 5Y*
- 10.87%
- 10Y*
- 5.91%
H4Z3.DE vs. IBC4.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 22.06% | 18.60% | 13.73% | 4.66% | -5.78% |
IBC4.DE iShares MSCI South Africa UCITS ETF USD (Acc) | -5.68% | 57.35% | 14.83% | -3.10% | -0.37% |
Correlation
The correlation between H4Z3.DE and IBC4.DE is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022 | 0.62 |
The correlation between H4Z3.DE and IBC4.DE has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
H4Z3.DE vs. IBC4.DE — Risk / Return Rank
H4Z3.DE
IBC4.DE
H4Z3.DE vs. IBC4.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 iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.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.
| H4Z3.DE | IBC4.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.17 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 1.32 | +2.18 |
| Martin ratioReturn relative to average drawdown | 10.32 | 2.88 | +7.44 |
Loading charts...
Drawdowns
H4Z3.DE vs. IBC4.DE - Drawdown Comparison
The maximum H4Z3.DE drawdown since its inception was -18.86%, smaller than the maximum IBC4.DE drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for H4Z3.DE and IBC4.DE.
Loading charts...
Drawdown Indicators
| H4Z3.DE | IBC4.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.86% | -55.48% | +36.62% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | -21.54% | +11.07% |
Max Drawdown (3Y)Largest decline over 3 years | -18.86% | -21.54% | +2.68% |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -55.48% | — |
Current DrawdownCurrent decline from peak | -9.42% | -19.74% | +10.32% |
Average DrawdownAverage peak-to-trough decline | -4.96% | -17.45% | +12.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.54% | 9.90% | -6.36% |
Volatility
H4Z3.DE vs. IBC4.DE - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a higher volatility of 8.42% compared to iShares MSCI South Africa UCITS ETF USD (Acc) (IBC4.DE) at 6.20%. This indicates that H4Z3.DE's price experiences larger fluctuations and is considered to be riskier than IBC4.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| H4Z3.DE | IBC4.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.42% | 6.20% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 17.68% | 25.07% | -7.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.08% | 29.95% | -9.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.38% | 25.64% | -9.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 27.80% | -11.42% |
H4Z3.DE vs. IBC4.DE - Expense Ratio Comparison
H4Z3.DE has a 0.15% expense ratio, which is lower than IBC4.DE's 0.65% expense ratio.
Dividends
H4Z3.DE vs. IBC4.DE - Dividend Comparison
Neither H4Z3.DE nor IBC4.DE has paid dividends to shareholders.
Frequently Asked Questions
H4Z3.DE and IBC4.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.65% for IBC4.DE.
H4Z3.DE tracks MSCI Emerging Markets, while IBC4.DE tracks MSCI South Africa Capped Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for H4Z3.DE and 0.65% for IBC4.DE.
Find the right allocation for H4Z3.DE and IBC4.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer