H4Z3.DE vs. SPYM.DE
H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) and SPYM.DE (SPDR MSCI Emerging Markets UCITS ETF) are both Emerging Markets Equities funds tracking the MSCI Emerging Markets, from HSBC and State Street respectively. Both are passively managed. Over the past 3 years, H4Z3.DE returned 20.42%/yr vs 21.15%/yr for SPYM.DE. With a 0.99 correlation, they move nearly in lockstep. H4Z3.DE charges 0.15%/yr vs 0.18%/yr for SPYM.DE.
Performance
H4Z3.DE vs. SPYM.DE - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both stocks are quite close, with H4Z3.DE having a 27.75% return and SPYM.DE slightly lower at 27.39%.
H4Z3.DE
- 1D
- -1.67%
- 1M
- 3.67%
- YTD
- 27.75%
- 6M
- 28.22%
- 1Y
- 49.05%
- 3Y*
- 20.42%
- 5Y*
- —
- 10Y*
- —
SPYM.DE
- 1D
- -1.63%
- 1M
- 3.70%
- YTD
- 27.39%
- 6M
- 27.92%
- 1Y
- 48.95%
- 3Y*
- 21.15%
- 5Y*
- 8.45%
- 10Y*
- 9.90%
H4Z3.DE vs. SPYM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 27.75% | 18.60% | 13.73% | 4.66% | -6.26% |
SPYM.DE SPDR MSCI Emerging Markets UCITS ETF | 27.39% | 19.08% | 14.04% | 6.06% | -6.00% |
Correlation
The correlation between H4Z3.DE and SPYM.DE is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.99 |
The correlation between H4Z3.DE and SPYM.DE has been stable across timeframes, ranging from 0.99 to 0.99 - 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. SPYM.DE — Risk / Return Rank
H4Z3.DE
SPYM.DE
H4Z3.DE vs. SPYM.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 SPDR MSCI Emerging Markets UCITS ETF (SPYM.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 | SPYM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.50 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 4.80 | -0.03 |
| Martin ratioReturn relative to average drawdown | 17.12 | 17.28 | -0.15 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| H4Z3.DE | SPYM.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 2.79 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.50 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.54 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.34 | +0.57 |
Drawdowns
H4Z3.DE vs. SPYM.DE - Drawdown Comparison
The maximum H4Z3.DE drawdown since its inception was -18.86%, smaller than the maximum SPYM.DE drawdown of -36.28%. Use the drawdown chart below to compare losses from any high point for H4Z3.DE and SPYM.DE.
Loading charts...
Drawdown Indicators
| H4Z3.DE | SPYM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.86% | -36.28% | +17.42% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | -10.38% | -0.09% |
Max Drawdown (3Y)Largest decline over 3 years | -18.86% | -18.96% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.86% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.69% | — |
Current DrawdownCurrent decline from peak | -2.73% | -2.74% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -4.95% | -9.95% | +5.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.89% | +0.03% |
Volatility
H4Z3.DE vs. SPYM.DE - Volatility Comparison
HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) and SPDR MSCI Emerging Markets UCITS ETF (SPYM.DE) have volatilities of 7.35% and 7.34%, 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.
Loading charts...
Volatility by Period
| H4Z3.DE | SPYM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.35% | 7.34% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.91% | 15.16% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.54% | 17.87% | -0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.77% | 16.78% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.77% | 18.40% | -2.63% |
H4Z3.DE vs. SPYM.DE - Expense Ratio Comparison
H4Z3.DE has a 0.15% expense ratio, which is lower than SPYM.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. SPYM.DE - Dividend Comparison
Neither H4Z3.DE nor SPYM.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, H4Z3.DE and SPYM.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 SPYM.DE.
Both ETFs track MSCI Emerging Markets. They also come from different issuers: HSBC and State Street. Their fees differ too: 0.15% for H4Z3.DE and 0.18% for SPYM.DE.
Find the right allocation for H4Z3.DE and SPYM.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