H4Z6.DE vs. XCS6.DE
H4Z6.DE (HSBC MSCI China UCITS ETF USD (Acc)) and XCS6.DE (Xtrackers MSCI China UCITS ETF 1C) are both China Equities funds tracking the MSCI China, from HSBC and Xtrackers respectively. Both are passively managed. Over the past 3 years, H4Z6.DE returned 7.78%/yr vs 7.21%/yr for XCS6.DE. With a 0.99 correlation, they move nearly in lockstep. H4Z6.DE charges 0.28%/yr vs 0.65%/yr for XCS6.DE.
Performance
H4Z6.DE vs. XCS6.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4Z6.DE achieves a -6.53% return, which is significantly higher than XCS6.DE's -7.24% return.
H4Z6.DE
- 1D
- -0.38%
- 1M
- -3.35%
- YTD
- -6.53%
- 6M
- -9.01%
- 1Y
- 2.78%
- 3Y*
- 7.78%
- 5Y*
- —
- 10Y*
- —
XCS6.DE
- 1D
- -0.30%
- 1M
- -3.42%
- YTD
- -7.24%
- 6M
- -9.67%
- 1Y
- 2.03%
- 3Y*
- 7.21%
- 5Y*
- -4.64%
- 10Y*
- 4.37%
H4Z6.DE vs. XCS6.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4Z6.DE HSBC MSCI China UCITS ETF USD (Acc) | -6.53% | 16.48% | 27.04% | -14.63% | -10.19% |
XCS6.DE Xtrackers MSCI China UCITS ETF 1C | -7.24% | 16.38% | 27.05% | -15.14% | -10.57% |
Correlation
The correlation between H4Z6.DE and XCS6.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 26, 2022 | 0.99 |
The correlation between H4Z6.DE and XCS6.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
H4Z6.DE vs. XCS6.DE — Risk / Return Rank
H4Z6.DE
XCS6.DE
H4Z6.DE vs. XCS6.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 Xtrackers MSCI China UCITS ETF 1C (XCS6.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 | XCS6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.04 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.18 | 0.13 | +0.05 |
| Martin ratioReturn relative to average drawdown | 0.38 | 0.27 | +0.11 |
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
| H4Z6.DE | XCS6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.12 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.17 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.17 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.06 | 0.16 | -0.10 |
Drawdowns
H4Z6.DE vs. XCS6.DE - Drawdown Comparison
The maximum H4Z6.DE drawdown since its inception was -33.47%, smaller than the maximum XCS6.DE drawdown of -56.31%. Use the drawdown chart below to compare losses from any high point for H4Z6.DE and XCS6.DE.
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Drawdown Indicators
| H4Z6.DE | XCS6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.47% | -56.31% | +22.84% |
Max Drawdown (1Y)Largest decline over 1 year | -16.85% | -17.28% | +0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -24.47% | -24.77% | +0.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -49.94% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -56.31% | — |
Current DrawdownCurrent decline from peak | -14.82% | -33.60% | +18.78% |
Average DrawdownAverage peak-to-trough decline | -13.91% | -21.19% | +7.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.17% | 8.27% | -0.10% |
Volatility
H4Z6.DE vs. XCS6.DE - Volatility Comparison
HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) and Xtrackers MSCI China UCITS ETF 1C (XCS6.DE) have volatilities of 7.23% and 7.17%, 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
| H4Z6.DE | XCS6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.23% | 7.17% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 13.11% | 13.14% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.60% | 18.53% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.28% | 27.67% | -2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.28% | 25.33% | -0.05% |
H4Z6.DE vs. XCS6.DE - Expense Ratio Comparison
H4Z6.DE has a 0.28% expense ratio, which is lower than XCS6.DE's 0.65% expense ratio.
Dividends
H4Z6.DE vs. XCS6.DE - Dividend Comparison
Neither H4Z6.DE nor XCS6.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, H4Z6.DE and XCS6.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, H4Z6.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z6.DE is cheaper with a 0.28% expense ratio, compared with 0.65% for XCS6.DE.
Both ETFs track MSCI China. They also come from different issuers: HSBC and Xtrackers. Their fees differ too: 0.28% for H4Z6.DE and 0.65% for XCS6.DE.
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