H4ZA.DE vs. CEMS.DE
H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - H4ZA.DE tracks the EURO STOXX® 50 while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 10 years, H4ZA.DE returned 10.80%/yr vs 10.71%/yr for CEMS.DE. Their correlation of 0.91 suggests significant overlap in exposure. H4ZA.DE charges 0.05%/yr vs 0.25%/yr for CEMS.DE.
Performance
H4ZA.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZA.DE achieves a 7.24% return, which is significantly lower than CEMS.DE's 13.72% return. Both investments have delivered pretty close results over the past 10 years, with H4ZA.DE having a 10.80% annualized return and CEMS.DE not far behind at 10.71%.
H4ZA.DE
- 1D
- 0.77%
- 1M
- 1.94%
- YTD
- 7.24%
- 6M
- 8.59%
- 1Y
- 15.63%
- 3Y*
- 16.60%
- 5Y*
- 12.12%
- 10Y*
- 10.80%
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
H4ZA.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 7.24% | 22.26% | 13.81% | 22.59% | -8.87% | 23.72% | -2.73% | 30.07% | -11.96% | 10.07% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | -4.54% | 26.62% | -8.86% | 23.48% | -14.04% | 10.16% |
Correlation
The correlation between H4ZA.DE and CEMS.DE is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2015 | 0.91 |
The correlation between H4ZA.DE and CEMS.DE has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
H4ZA.DE vs. CEMS.DE — Risk / Return Rank
H4ZA.DE
CEMS.DE
H4ZA.DE vs. CEMS.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 iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.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.
| H4ZA.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.43 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 3.29 | -1.86 |
| Martin ratioReturn relative to average drawdown | 4.85 | 12.37 | -7.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| H4ZA.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 2.37 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.94 | -0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.61 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.49 | -0.08 |
Drawdowns
H4ZA.DE vs. CEMS.DE - Drawdown Comparison
The maximum H4ZA.DE drawdown since its inception was -38.41%, roughly equal to the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and CEMS.DE.
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Drawdown Indicators
| H4ZA.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.41% | -40.20% | +1.79% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -9.99% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -16.40% | -17.57% | +1.17% |
Max Drawdown (5Y)Largest decline over 5 years | -23.26% | -19.55% | -3.71% |
Max Drawdown (10Y)Largest decline over 10 years | -38.41% | -40.20% | +1.79% |
Current DrawdownCurrent decline from peak | -0.50% | -1.26% | +0.76% |
Average DrawdownAverage peak-to-trough decline | -7.84% | -7.49% | -0.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 2.66% | +0.58% |
Volatility
H4ZA.DE vs. CEMS.DE - Volatility Comparison
HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a higher volatility of 4.95% compared to iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) at 4.65%. This indicates that H4ZA.DE's price experiences larger fluctuations and is considered to be riskier than CEMS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZA.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 4.65% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 11.17% | +1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 13.87% | +2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.50% | 15.23% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 17.43% | +0.74% |
H4ZA.DE vs. CEMS.DE - Expense Ratio Comparison
H4ZA.DE has a 0.05% expense ratio, which is lower than CEMS.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. CEMS.DE - Dividend Comparison
H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%, while CEMS.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 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 | 2.44% | 2.49% | 5.35% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
Frequently Asked Questions
H4ZA.DE and CEMS.DE have a correlation of 0.89, 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 CEMS.DE.
H4ZA.DE tracks EURO STOXX® 50, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.05% for H4ZA.DE and 0.25% for CEMS.DE.
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