H4Z7.DE vs. SPYI.DE
H4Z7.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)) and SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) are both exchange-traded funds - H4Z7.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed, while SPYI.DE is a Global Equities fund tracking the MSCI All Country World Investable Market (ACWI IMI). Both are passively managed. Over the past 3 years, H4Z7.DE returned 6.21%/yr vs 16.73%/yr for SPYI.DE. A 0.61 correlation means they provide meaningful diversification when combined. H4Z7.DE charges 0.24%/yr vs 0.17%/yr for SPYI.DE.
Performance
H4Z7.DE vs. SPYI.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4Z7.DE achieves a 7.83% return, which is significantly lower than SPYI.DE's 12.53% return.
H4Z7.DE
- 1D
- -0.12%
- 1M
- -0.57%
- YTD
- 7.83%
- 6M
- 8.92%
- 1Y
- 10.28%
- 3Y*
- 6.21%
- 5Y*
- —
- 10Y*
- —
SPYI.DE
- 1D
- 1.91%
- 1M
- 2.37%
- YTD
- 12.53%
- 6M
- 14.24%
- 1Y
- 27.76%
- 3Y*
- 16.73%
- 5Y*
- 11.62%
- 10Y*
- 12.27%
H4Z7.DE vs. SPYI.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% | -12.91% |
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 12.53% | 9.07% | 22.98% | 17.54% | -5.10% |
Correlation
The correlation between H4Z7.DE and SPYI.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | 0.61 |
The correlation between H4Z7.DE and SPYI.DE shifts across timeframes, from 0.49 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
H4Z7.DE vs. SPYI.DE — Risk / Return Rank
H4Z7.DE
SPYI.DE
H4Z7.DE vs. SPYI.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 SPDR MSCI ACWI IMI UCITS ETF (SPYI.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| H4Z7.DE | SPYI.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.45 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.43 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 4.20 | -2.97 |
| Martin ratioReturn relative to average drawdown | 3.99 | 16.67 | -12.68 |
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Drawdowns
H4Z7.DE vs. SPYI.DE - Drawdown Comparison
The maximum H4Z7.DE drawdown since its inception was -26.78%, smaller than the maximum SPYI.DE drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for H4Z7.DE and SPYI.DE.
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Drawdown Indicators
| H4Z7.DE | SPYI.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.78% | -41.58% | +14.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -6.45% | -1.41% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -21.64% | +1.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.49% | — |
Current DrawdownCurrent decline from peak | -2.86% | -1.23% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -11.52% | -8.43% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 1.63% | +0.79% |
Volatility
H4Z7.DE vs. SPYI.DE - Volatility Comparison
The current volatility for HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) is 2.87%, while SPDR MSCI ACWI IMI UCITS ETF (SPYI.DE) has a volatility of 3.48%. This indicates that H4Z7.DE experiences smaller price fluctuations and is considered to be less risky than SPYI.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4Z7.DE | SPYI.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.48% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 8.56% | 8.52% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.25% | 11.75% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 13.96% | +0.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.41% | 15.96% | -1.55% |
H4Z7.DE vs. SPYI.DE - Expense Ratio Comparison
H4Z7.DE has a 0.24% expense ratio, which is higher than SPYI.DE's 0.17% 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. SPYI.DE - Dividend Comparison
Neither H4Z7.DE nor SPYI.DE has paid dividends to shareholders.
Frequently Asked Questions
H4Z7.DE and SPYI.DE have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYI.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYI.DE is cheaper with a 0.17% expense ratio, compared with 0.24% for H4Z7.DE.
H4Z7.DE is categorized as REIT, while SPYI.DE is Global Equities. H4Z7.DE tracks FTSE EPRA/NAREIT Developed, while SPYI.DE tracks MSCI All Country World Investable Market (ACWI IMI). They also come from different issuers: HSBC and State Street. Their fees differ too: 0.24% for H4Z7.DE and 0.17% for SPYI.DE.
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