H4Z7.DE vs. H4ZY.DE

Last updated Jun 5, 2026

H4Z7.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)) and H4ZY.DE (HSBC MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - H4Z7.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed, while H4ZY.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 3 years, H4Z7.DE returned 6.21%/yr vs 17.59%/yr for H4ZY.DE. A 0.60 correlation means they provide meaningful diversification when combined. H4Z7.DE charges 0.24%/yr vs 0.15%/yr for H4ZY.DE.

Performance

H4Z7.DE vs. H4ZY.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) and HSBC MSCI World UCITS ETF USD (Acc) (H4ZY.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, H4Z7.DE achieves a 7.83% return, which is significantly lower than H4ZY.DE's 10.90% return.

H4Z7.DE

• 1D: -0.12%
• 1M: -2.61%
• YTD: 7.83%
• 6M: 7.26%
• 1Y: 9.73%
• 3Y*: 6.21%
• 5Y*: —
• 10Y*: —

H4ZY.DE

• 1D: -0.02%
• 1M: 3.67%
• YTD: 10.90%
• 6M: 10.95%
• 1Y: 23.84%
• 3Y*: 17.59%
• 5Y*: —
• 10Y*: —

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

H4Z7.DE vs. H4ZY.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
H4Z7.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)	7.83%	-1.78%	5.80%	7.39%	-13.07%
H4ZY.DE HSBC MSCI World UCITS ETF USD (Acc)	10.90%	7.98%	25.90%	20.32%	-5.51%

Correlation

The correlation between H4Z7.DE and H4ZY.DE is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jul 26, 2022	0.60

The correlation between H4Z7.DE and H4ZY.DE has been stable across timeframes, ranging from 0.50 to 0.60 - a consistent structural relationship.

Return for Risk

H4Z7.DE vs. H4ZY.DE — Risk / Return Rank

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

H4Z7.DE

H4Z7.DE Risk / Return Rank: 25
H4Z7.DE Sharpe Ratio Rank: 25
H4Z7.DE Sortino Ratio Rank: 24
H4Z7.DE Omega Ratio Rank: 24
H4Z7.DE Calmar Ratio Rank: 26
H4Z7.DE Martin Ratio Rank: 28

H4ZY.DE

H4ZY.DE Risk / Return Rank: 70
H4ZY.DE Sharpe Ratio Rank: 66
H4ZY.DE Sortino Ratio Rank: 66
H4ZY.DE Omega Ratio Rank: 69
H4ZY.DE Calmar Ratio Rank: 74
H4ZY.DE Martin Ratio Rank: 77

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.

H4Z7.DE vs. H4ZY.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) and HSBC MSCI World UCITS ETF USD (Acc) (H4ZY.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.

	H4Z7.DE	H4ZY.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.86	2.15	-1.29
Sortino ratio: Return per unit of downside risk	1.26	2.99	-1.73
Omega ratio: Gain probability vs. loss probability	1.15	1.40	-0.25
Calmar ratio: Return relative to maximum drawdown	1.23	3.64	-2.41
Martin ratio: Return relative to average drawdown	3.99	14.48	-10.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4Z7.DE vs. H4ZY.DE - Sharpe Ratio Comparison

The current H4Z7.DE Sharpe Ratio is 0.86, which is lower than the H4ZY.DE Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of H4Z7.DE and H4ZY.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	H4Z7.DE	H4ZY.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	2.15	-1.29
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	1.12	-1.04

Drawdowns

H4Z7.DE vs. H4ZY.DE - Drawdown Comparison

The maximum H4Z7.DE drawdown since its inception was -26.78%, which is greater than H4ZY.DE's maximum drawdown of -21.94%. Use the drawdown chart below to compare losses from any high point for H4Z7.DE and H4ZY.DE.

Drawdown Indicators

	H4Z7.DE	H4ZY.DE	Difference
Max Drawdown Largest peak-to-trough decline	-26.78%	-21.94%	-4.84%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-6.55%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-20.13%	-21.94%	+1.81%
Current Drawdown Current decline from peak	-2.86%	-0.32%	-2.54%
Average Drawdown Average peak-to-trough decline	-11.53%	-3.60%	-7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	1.65%	+0.77%

Volatility

H4Z7.DE vs. H4ZY.DE - Volatility Comparison

HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) has a higher volatility of 2.87% compared to HSBC MSCI World UCITS ETF USD (Acc) (H4ZY.DE) at 2.62%. This indicates that H4Z7.DE's price experiences larger fluctuations and is considered to be riskier than H4ZY.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4Z7.DE	H4ZY.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	2.62%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	7.66%	+0.90%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	11.09%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.42%	13.49%	+0.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.42%	13.49%	+0.93%

H4Z7.DE vs. H4ZY.DE - Expense Ratio Comparison

H4Z7.DE has a 0.24% expense ratio, which is higher than H4ZY.DE's 0.15% 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%.

Dividends

H4Z7.DE vs. H4ZY.DE - Dividend Comparison

Neither H4Z7.DE nor H4ZY.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both H4Z7.DE and H4ZY.DE in my portfolio?

H4Z7.DE and H4ZY.DE have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, H4Z7.DE or H4ZY.DE?

On fees, H4ZY.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, H4Z7.DE or H4ZY.DE?

H4ZY.DE is cheaper with a 0.15% expense ratio, compared with 0.24% for H4Z7.DE.

What is the main difference between H4Z7.DE and H4ZY.DE?

H4Z7.DE is categorized as REIT, while H4ZY.DE is Global Equities. H4Z7.DE tracks FTSE EPRA/NAREIT Developed, while H4ZY.DE tracks MSCI World. Their fees differ too: 0.24% for H4Z7.DE and 0.15% for H4ZY.DE.