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H4Z3.DE vs. VOO
Performance
Return for Risk
Dividends
Drawdowns
Volatility

H4Z3.DE vs. VOO

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) and Vanguard S&P 500 ETF (VOO).

H4Z3.DE and VOO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. H4Z3.DE is a passively managed fund by HSBC that tracks the performance of the MSCI Emerging Markets. It was launched on Jun 28, 2022. VOO is a passively managed fund by Vanguard that tracks the performance of the S&P 500 Index. It was launched on Sep 7, 2010. Both H4Z3.DE and VOO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

H4Z3.DE vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

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H4Z3.DE vs. VOO - Yearly Performance Comparison

2026 (YTD)2025202420232022
H4Z3.DE
HSBC MSCI Emerging Markets UCITS ETF USD (Acc)		6.71%18.60%13.73%4.66%-6.26%
VOO
Vanguard S&P 500 ETF		-1.80%3.84%33.23%22.54%-5.04%
Different Trading Currencies

H4Z3.DE is traded in EUR, while VOO is traded in USD. To make them comparable, the VOO values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, H4Z3.DE achieves a 6.71% return, which is significantly higher than VOO's -2.17% return.

H4Z3.DE

1D
3.39%
1M
-5.14%
YTD
6.71%
6M
10.20%
1Y
25.57%
3Y*
13.81%
5Y*
—
10Y*
—

VOO

1D
0.00%
1M
-3.07%
YTD
-2.17%
6M
-0.22%
1Y
9.95%
3Y*
16.10%
5Y*
12.33%
10Y*
14.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC MSCI Emerging Markets UCITS ETF USD (Acc)

Vanguard S&P 500 ETF

Often compared with H4Z3.DE:
H4Z3.DE vs. LYM8.DEH4Z3.DE vs. XESC.DEH4Z3.DE vs. XMME.DEH4Z3.DE vs. H412.DEH4Z3.DE vs. EMXC.DEH4Z3.DE vs. H4Z6.DEH4Z3.DE vs. H4ZX.DE
Often compared with VOO:
VOO vs. VTIVOO vs. QQQVOO vs. SCHDVOO vs. VTVOO vs. SPYVOO vs. FXAIXVOO vs. IVV

H4Z3.DE vs. VOO - Expense Ratio Comparison

H4Z3.DE has a 0.15% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

H4Z3.DE
HSBC MSCI Emerging Markets UCITS ETF USD (Acc)
VOO
Vanguard S&P 500 ETF

Return for Risk

H4Z3.DE vs. VOO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
H4Z3.DE
H4Z3.DE Risk / Return Rank: 7474
Overall Rank
H4Z3.DE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
H4Z3.DE Sortino Ratio Rank: 7272
Sortino Ratio Rank
H4Z3.DE Omega Ratio Rank: 7070
Omega Ratio Rank
H4Z3.DE Calmar Ratio Rank: 8080
Calmar Ratio Rank
H4Z3.DE Martin Ratio Rank: 7373
Martin Ratio Rank
VOO
VOO Risk / Return Rank: 5454
Overall Rank
VOO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
VOO Sortino Ratio Rank: 5353
Sortino Ratio Rank
VOO Omega Ratio Rank: 5656
Omega Ratio Rank
VOO Calmar Ratio Rank: 5151
Calmar Ratio Rank
VOO Martin Ratio Rank: 6262
Martin Ratio Rank
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.

H4Z3.DE vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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.DEVOODifference

Sharpe ratio

Return per unit of total volatility

1.40

0.49

+0.91

Sortino ratio

Return per unit of downside risk

1.93

0.80

+1.13

Omega ratio

Gain probability vs. loss probability

1.27

1.13

+0.15

Calmar ratio

Return relative to maximum drawdown

2.51

0.71

+1.79

Martin ratio

Return relative to average drawdown

8.49

3.01

+5.48

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4Z3.DE vs. VOO - Sharpe Ratio Comparison

The current H4Z3.DE Sharpe Ratio is 1.40, which is higher than the VOO Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of H4Z3.DE and VOO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

H4Z3.DEVOODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.40

0.49

+0.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.74

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.76

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.63

0.85

-0.21

Correlation

The correlation between H4Z3.DE and VOO is 0.40, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

H4Z3.DE vs. VOO - Dividend Comparison

H4Z3.DE has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.18%.

TTM20252024202320222021202020192018201720162015
H4Z3.DE
HSBC MSCI Emerging Markets UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VOO
Vanguard S&P 500 ETF		1.18%1.13%1.24%1.46%1.69%1.25%1.54%1.88%2.06%1.78%2.02%2.10%

Drawdowns

H4Z3.DE vs. VOO - Drawdown Comparison

The maximum H4Z3.DE drawdown since its inception was -18.86%, smaller than the maximum VOO drawdown of -33.49%. Use the drawdown chart below to compare losses from any high point for H4Z3.DE and VOO.

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Drawdown Indicators

H4Z3.DEVOODifference

Max Drawdown

Largest peak-to-trough decline

-18.86%

-33.99%

+15.13%

Max Drawdown (1Y)

Largest decline over 1 year

-13.45%

-8.90%

-4.55%

Max Drawdown (5Y)

Largest decline over 5 years

—

-24.52%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.99%

—

Current Drawdown

Current decline from peak

-7.43%

-5.44%

-1.99%

Average Drawdown

Average peak-to-trough decline

-5.10%

-3.72%

-1.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.09%

2.57%

+0.52%

Volatility

H4Z3.DE vs. VOO - Volatility Comparison

HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a higher volatility of 7.31% compared to Vanguard S&P 500 ETF (VOO) at 4.36%. This indicates that H4Z3.DE's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

H4Z3.DEVOODifference

Volatility (1M)

Calculated over the trailing 1-month period

7.31%

4.36%

+2.95%

Volatility (6M)

Calculated over the trailing 6-month period

12.83%

9.85%

+2.98%

Volatility (1Y)

Calculated over the trailing 1-year period

18.21%

20.48%

-2.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.21%

16.70%

-1.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.21%

18.56%

-3.35%