H4Z6.DE vs. H4Z3.DE

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE).

H4Z6.DE and H4Z3.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. H4Z6.DE is a passively managed fund by HSBC that tracks the performance of the MSCI China. It was launched on Jul 12, 2022. 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. Both H4Z6.DE and H4Z3.DE 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

H4Z6.DE vs. H4Z3.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE). The values are adjusted to include any dividend payments, if applicable.

H4Z6.DE vs. H4Z3.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
H4Z6.DE HSBC MSCI China UCITS ETF USD (Acc)	-6.01%	16.48%	27.04%	-14.63%	-10.19%
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc)	6.71%	18.60%	13.73%	4.66%	-6.04%

Returns By Period

In the year-to-date period, H4Z6.DE achieves a -6.01% return, which is significantly lower than H4Z3.DE's 6.71% return.

H4Z6.DE

• 1D: 1.10%
• 1M: -2.63%
• YTD: -6.01%
• 6M: -12.78%
• 1Y: -2.09%
• 3Y*: 4.79%
• 5Y*: —
• 10Y*: —

H4Z3.DE

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

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

H4Z6.DE vs. H4Z3.DE - Expense Ratio Comparison

H4Z6.DE has a 0.28% expense ratio, which is higher than H4Z3.DE's 0.15% expense ratio.

H4Z6.DE

HSBC MSCI China UCITS ETF USD (Acc)

H4Z3.DE

HSBC MSCI Emerging Markets UCITS ETF USD (Acc)

Return for Risk

H4Z6.DE vs. H4Z3.DE — Risk / Return Rank

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

H4Z6.DE

H4Z6.DE Risk / Return Rank: 10
H4Z6.DE Sharpe Ratio Rank: 10
H4Z6.DE Sortino Ratio Rank: 10
H4Z6.DE Omega Ratio Rank: 10
H4Z6.DE Calmar Ratio Rank: 11
H4Z6.DE Martin Ratio Rank: 10

H4Z3.DE

H4Z3.DE Risk / Return Rank: 74
H4Z3.DE Sharpe Ratio Rank: 74
H4Z3.DE Sortino Ratio Rank: 72
H4Z3.DE Omega Ratio Rank: 70
H4Z3.DE Calmar Ratio Rank: 80
H4Z3.DE Martin Ratio Rank: 73

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.

H4Z6.DE vs. H4Z3.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.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.

	H4Z6.DE	H4Z3.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.10	1.40	-1.50
Sortino ratio Return per unit of downside risk	0.01	1.93	-1.91
Omega ratio Gain probability vs. loss probability	1.00	1.27	-0.27
Calmar ratio Return relative to maximum drawdown	-0.03	2.51	-2.54
Martin ratio Return relative to average drawdown	-0.08	8.49	-8.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4Z6.DE vs. H4Z3.DE - Sharpe Ratio Comparison

The current H4Z6.DE Sharpe Ratio is -0.10, which is lower than the H4Z3.DE Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of H4Z6.DE and H4Z3.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	H4Z6.DE	H4Z3.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	1.40	-1.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.63	-0.56

Correlation

The correlation between H4Z6.DE and H4Z3.DE is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

H4Z6.DE vs. H4Z3.DE - Dividend Comparison

Neither H4Z6.DE nor H4Z3.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

H4Z6.DE vs. H4Z3.DE - Drawdown Comparison

The maximum H4Z6.DE drawdown since its inception was -33.47%, which is greater than H4Z3.DE's maximum drawdown of -18.86%. Use the drawdown chart below to compare losses from any high point for H4Z6.DE and H4Z3.DE.

Drawdown Indicators

	H4Z6.DE	H4Z3.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.47%	-18.86%	-14.61%
Max Drawdown (1Y) Largest decline over 1 year	-16.21%	-13.45%	-2.76%
Current Drawdown Current decline from peak	-14.35%	-7.43%	-6.92%
Average Drawdown Average peak-to-trough decline	-13.93%	-5.10%	-8.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.59%	3.09%	+3.50%

Volatility

H4Z6.DE vs. H4Z3.DE - Volatility Comparison

The current volatility for HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) is 6.12%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a volatility of 7.31%. This indicates that H4Z6.DE experiences smaller price fluctuations and is considered to be less risky than H4Z3.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4Z6.DE	H4Z3.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	7.31%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	13.41%	12.83%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	21.49%	18.21%	+3.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.47%	15.21%	+10.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.47%	15.21%	+10.26%