H4ZA.DE vs. AMES.DE
H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) and AMES.DE (Amundi ETF MSCI Spain UCITS ETF EUR) are both Europe Equities funds - H4ZA.DE tracks the EURO STOXX® 50 while AMES.DE tracks the MSCI Spain. Both are passively managed. Over the past 10 years, H4ZA.DE returned 11.68%/yr vs 13.10%/yr for AMES.DE. Their correlation of 0.80 suggests significant overlap in exposure. H4ZA.DE charges 0.05%/yr vs 0.25%/yr for AMES.DE.
Performance
H4ZA.DE vs. AMES.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, H4ZA.DE achieves a 9.45% return, which is significantly lower than AMES.DE's 14.05% return. Over the past 10 years, H4ZA.DE has underperformed AMES.DE with an annualized return of 11.68%, while AMES.DE has yielded a comparatively higher 13.10% annualized return.
H4ZA.DE
- 1D
- -0.69%
- 1M
- 2.66%
- YTD
- 9.45%
- 6M
- 10.39%
- 1Y
- 21.69%
- 3Y*
- 16.26%
- 5Y*
- 11.85%
- 10Y*
- 11.68%
AMES.DE
- 1D
- -0.42%
- 1M
- 6.08%
- YTD
- 14.05%
- 6M
- 14.95%
- 1Y
- 45.42%
- 3Y*
- 32.13%
- 5Y*
- 20.59%
- 10Y*
- 13.10%
H4ZA.DE vs. AMES.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 9.45% | 22.26% | 11.06% | 22.59% | -8.87% | 23.72% | -2.73% | 30.04% | -11.95% | 10.07% |
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 14.05% | 55.41% | 19.00% | 26.86% | -0.71% | 6.98% | -12.87% | 15.76% | -12.77% | 11.84% |
Correlation
The correlation between H4ZA.DE and AMES.DE is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Dec 1, 2011 | 0.80 |
The correlation between H4ZA.DE and AMES.DE has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
H4ZA.DE vs. AMES.DE — Risk / Return Rank
H4ZA.DE
AMES.DE
H4ZA.DE vs. AMES.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) and Amundi ETF MSCI Spain UCITS ETF EUR (AMES.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.
| H4ZA.DE | AMES.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.41 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.49 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 4.54 | -2.57 |
| Martin ratioReturn relative to average drawdown | 6.83 | 16.06 | -9.23 |
Loading charts...
Drawdowns
H4ZA.DE vs. AMES.DE - Drawdown Comparison
The maximum H4ZA.DE drawdown since its inception was -38.40%, smaller than the maximum AMES.DE drawdown of -40.98%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and AMES.DE.
Loading charts...
Drawdown Indicators
| H4ZA.DE | AMES.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.40% | -40.98% | +2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -9.95% | -1.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.39% | -12.58% | -3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -23.26% | -17.77% | -5.49% |
Max Drawdown (10Y)Largest decline over 10 years | -38.40% | -40.98% | +2.58% |
Current DrawdownCurrent decline from peak | -1.53% | -0.52% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -10.09% | +2.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 2.82% | +0.35% |
Volatility
H4ZA.DE vs. AMES.DE - Volatility Comparison
The current volatility for HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) is 3.61%, while Amundi ETF MSCI Spain UCITS ETF EUR (AMES.DE) has a volatility of 4.03%. This indicates that H4ZA.DE experiences smaller price fluctuations and is considered to be less risky than AMES.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| H4ZA.DE | AMES.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.61% | 4.03% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 13.23% | 14.00% | -0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.98% | 16.39% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 16.96% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.86% | 18.42% | -0.56% |
H4ZA.DE vs. AMES.DE - Expense Ratio Comparison
H4ZA.DE has a 0.05% expense ratio, which is lower than AMES.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
H4ZA.DE vs. AMES.DE - Dividend Comparison
H4ZA.DE's dividend yield for the trailing twelve months is around 2.39%, while AMES.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMES.DE Amundi ETF MSCI Spain UCITS ETF EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.39% | 2.49% | 2.89% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
Frequently Asked Questions
H4ZA.DE and AMES.DE have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZA.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 0.25% for AMES.DE.
H4ZA.DE tracks EURO STOXX® 50, while AMES.DE tracks MSCI Spain. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.05% for H4ZA.DE and 0.25% for AMES.DE.
Find the right allocation for H4ZA.DE and AMES.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer