H4Z7.DE vs. ZPRX.DE
H4Z7.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc)) and ZPRX.DE (SPDR MSCI Europe Small Cap Value Weighted UCITS ETF) are both exchange-traded funds - H4Z7.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed, while ZPRX.DE is a Europe Equities fund tracking the MSCI Europe Small Cap Value Weighted. Both are passively managed. Over the past 3 years, H4Z7.DE returned 7.60%/yr vs 15.12%/yr for ZPRX.DE. A 0.53 correlation means they provide meaningful diversification when combined. H4Z7.DE charges 0.24%/yr vs 0.30%/yr for ZPRX.DE.
Performance
H4Z7.DE vs. ZPRX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4Z7.DE achieves a 10.39% return, which is significantly higher than ZPRX.DE's 7.26% return.
H4Z7.DE
- 1D
- 0.00%
- 1M
- 0.31%
- YTD
- 10.39%
- 6M
- 10.98%
- 1Y
- 12.21%
- 3Y*
- 7.60%
- 5Y*
- —
- 10Y*
- —
ZPRX.DE
- 1D
- -0.58%
- 1M
- 0.72%
- YTD
- 7.26%
- 6M
- 8.84%
- 1Y
- 18.71%
- 3Y*
- 15.12%
- 5Y*
- 8.43%
- 10Y*
- 8.24%
H4Z7.DE vs. ZPRX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4Z7.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) | 10.39% | -1.78% | 5.80% | 7.39% | -12.91% |
ZPRX.DE SPDR MSCI Europe Small Cap Value Weighted UCITS ETF | 7.26% | 26.81% | 4.29% | 15.26% | -0.99% |
Correlation
The correlation between H4Z7.DE and ZPRX.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | 0.53 |
The correlation between H4Z7.DE and ZPRX.DE has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.
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Return for Risk
H4Z7.DE vs. ZPRX.DE — Risk / Return Rank
H4Z7.DE
ZPRX.DE
H4Z7.DE vs. ZPRX.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 Europe Small Cap Value Weighted UCITS ETF (ZPRX.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 | ZPRX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 1.63 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.47 | 5.99 | -0.52 |
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Drawdowns
H4Z7.DE vs. ZPRX.DE - Drawdown Comparison
The maximum H4Z7.DE drawdown since its inception was -26.78%, smaller than the maximum ZPRX.DE drawdown of -43.93%. Use the drawdown chart below to compare losses from any high point for H4Z7.DE and ZPRX.DE.
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Drawdown Indicators
| H4Z7.DE | ZPRX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.78% | -43.93% | +17.15% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -11.63% | +3.77% |
Max Drawdown (3Y)Largest decline over 3 years | -20.13% | -15.95% | -4.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.52% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.93% | — |
Current DrawdownCurrent decline from peak | -1.31% | -2.01% | +0.70% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -7.68% | -3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.30% | 3.17% | -0.87% |
Volatility
H4Z7.DE vs. ZPRX.DE - Volatility Comparison
The current volatility for HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (Acc) (H4Z7.DE) is 3.42%, while SPDR MSCI Europe Small Cap Value Weighted UCITS ETF (ZPRX.DE) has a volatility of 3.67%. This indicates that H4Z7.DE experiences smaller price fluctuations and is considered to be less risky than ZPRX.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 | ZPRX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 3.67% | -0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 8.96% | 11.47% | -2.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.59% | 14.04% | -2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.43% | 16.70% | -2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.43% | 18.02% | -3.59% |
H4Z7.DE vs. ZPRX.DE - Expense Ratio Comparison
H4Z7.DE has a 0.24% expense ratio, which is lower than ZPRX.DE's 0.30% expense ratio.
Dividends
H4Z7.DE vs. ZPRX.DE - Dividend Comparison
Neither H4Z7.DE nor ZPRX.DE has paid dividends to shareholders.
Frequently Asked Questions
H4Z7.DE and ZPRX.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4Z7.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z7.DE is cheaper with a 0.24% expense ratio, compared with 0.30% for ZPRX.DE.
H4Z7.DE is categorized as REIT, while ZPRX.DE is Europe Equities. H4Z7.DE tracks FTSE EPRA/NAREIT Developed, while ZPRX.DE tracks MSCI Europe Small Cap Value Weighted. They also come from different issuers: HSBC and State Street. Their fees differ too: 0.24% for H4Z7.DE and 0.30% for ZPRX.DE.
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