H4Z7.DE vs. VAGF.DE
H4Z7.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)) and VAGF.DE (Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc) are both exchange-traded funds - H4Z7.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed, while VAGF.DE is a Global Bonds fund tracking the Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged). Both are passively managed. Over the past 3 years, H4Z7.DE returned 6.21%/yr vs 2.14%/yr for VAGF.DE. At a 0.28 correlation, their price movements are largely independent. H4Z7.DE charges 0.24%/yr vs 0.10%/yr for VAGF.DE.
Performance
H4Z7.DE vs. VAGF.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 higher than VAGF.DE's -0.46% return.
H4Z7.DE
- 1D
- -0.12%
- 1M
- -0.57%
- YTD
- 7.83%
- 6M
- 8.92%
- 1Y
- 10.28%
- 3Y*
- 6.21%
- 5Y*
- —
- 10Y*
- —
VAGF.DE
- 1D
- 0.47%
- 1M
- 0.64%
- YTD
- -0.46%
- 6M
- -0.42%
- 1Y
- 1.28%
- 3Y*
- 2.14%
- 5Y*
- -1.75%
- 10Y*
- —
H4Z7.DE vs. VAGF.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% |
VAGF.DE Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc | -0.46% | 3.03% | 0.83% | 4.52% | -5.76% |
Correlation
The correlation between H4Z7.DE and VAGF.DE is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | 0.28 |
The correlation between H4Z7.DE and VAGF.DE shifts across timeframes, from 0.16 (1 year) to 0.29 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
H4Z7.DE vs. VAGF.DE — Risk / Return Rank
H4Z7.DE
VAGF.DE
H4Z7.DE vs. VAGF.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 Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.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 | VAGF.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +0.96 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.04 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 0.35 | +0.88 |
| Martin ratioReturn relative to average drawdown | 3.99 | 0.86 | +3.14 |
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Drawdowns
H4Z7.DE vs. VAGF.DE - Drawdown Comparison
The maximum H4Z7.DE drawdown since its inception was -26.78%, which is greater than VAGF.DE's maximum drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for H4Z7.DE and VAGF.DE.
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Drawdown Indicators
| H4Z7.DE | VAGF.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.78% | -19.56% | -7.22% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -2.82% | -5.04% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -4.43% | -15.70% |
Max Drawdown (5Y)Largest decline over 5 years | — | -18.80% | — |
Current DrawdownCurrent decline from peak | -2.86% | -10.70% | +7.84% |
Average DrawdownAverage peak-to-trough decline | -11.52% | -8.98% | -2.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 1.14% | +1.28% |
Volatility
H4Z7.DE vs. VAGF.DE - Volatility Comparison
HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) has a higher volatility of 2.87% compared to Vanguard Global Aggregate Bond UCITS ETF (EUR Hedged) Acc (VAGF.DE) at 1.56%. This indicates that H4Z7.DE's price experiences larger fluctuations and is considered to be riskier than VAGF.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 | VAGF.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 1.56% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 8.56% | 3.87% | +4.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.25% | 5.21% | +6.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 5.18% | +9.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.41% | 4.92% | +9.49% |
H4Z7.DE vs. VAGF.DE - Expense Ratio Comparison
H4Z7.DE has a 0.24% expense ratio, which is higher than VAGF.DE's 0.10% 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. VAGF.DE - Dividend Comparison
Neither H4Z7.DE nor VAGF.DE has paid dividends to shareholders.
Frequently Asked Questions
H4Z7.DE and VAGF.DE have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VAGF.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VAGF.DE is cheaper with a 0.10% expense ratio, compared with 0.24% for H4Z7.DE.
H4Z7.DE is categorized as REIT, while VAGF.DE is Global Bonds. H4Z7.DE tracks FTSE EPRA/NAREIT Developed, while VAGF.DE tracks Bloomberg Global Aggregate Float Adjusted and Scaled (EUR Hedged). They also come from different issuers: HSBC and Vanguard. Their fees differ too: 0.24% for H4Z7.DE and 0.10% for VAGF.DE.
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