H4ZA.DE vs. ECDC.DE

Last updated Jul 18, 2026

H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) and ECDC.DE (Expat Croatia Crobex UCITS ETF) are both Europe Equities funds - H4ZA.DE tracks the EURO STOXX® 50 while ECDC.DE tracks the CROBEX Index. Both are passively managed. Over the past 5 years, H4ZA.DE returned 12.34%/yr vs 12.59%/yr for ECDC.DE. At a 0.17 correlation, their price movements are largely independent. H4ZA.DE charges 0.05%/yr vs 1.38%/yr for ECDC.DE.

Performance

H4ZA.DE vs. ECDC.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) and Expat Croatia Crobex UCITS ETF (ECDC.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, H4ZA.DE achieves a 9.79% return, which is significantly lower than ECDC.DE's 14.06% return.

H4ZA.DE

• 1D: -0.80%
• 1M: -0.88%
• 6M: 5.52%
• YTD: 9.79%
• 1Y: 18.89%
• 3Y*: 15.78%
• 5Y*: 12.34%
• 10Y*: 11.03%

ECDC.DE

• 1D: 0.69%
• 1M: 1.39%
• 6M: 12.31%
• YTD: 14.06%
• 1Y: 17.74%
• 3Y*: 22.13%
• 5Y*: 12.59%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

H4ZA.DE vs. ECDC.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR	9.79%	22.26%	11.06%	22.59%	-8.87%	23.72%	-2.73%	30.04%	-10.91%
ECDC.DE Expat Croatia Crobex UCITS ETF	14.06%	19.63%	25.09%	27.42%	-21.40%	16.97%	-22.59%	10.86%	-9.33%

Correlation

The correlation between H4ZA.DE and ECDC.DE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 16, 2018	0.17

Return for Risk

H4ZA.DE vs. ECDC.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

H4ZA.DE

H4ZA.DE Risk / Return Rank: 43
H4ZA.DE Sharpe Ratio Rank: 41
H4ZA.DE Sortino Ratio Rank: 44
H4ZA.DE Omega Ratio Rank: 42
H4ZA.DE Calmar Ratio Rank: 43
H4ZA.DE Martin Ratio Rank: 47

ECDC.DE

ECDC.DE Risk / Return Rank: 58
ECDC.DE Sharpe Ratio Rank: 51
ECDC.DE Sortino Ratio Rank: 51
ECDC.DE Omega Ratio Rank: 67
ECDC.DE Calmar Ratio Rank: 64
ECDC.DE Martin Ratio Rank: 58

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

H4ZA.DE vs. ECDC.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 Expat Croatia Crobex UCITS ETF (ECDC.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	ECDC.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.34	-0.16
Sortino ratio: Return per unit of downside risk	1.80	1.93	-0.13
Omega ratio: Gain probability vs. loss probability	1.22	1.30	-0.08
Calmar ratio: Return relative to maximum drawdown	1.72	2.35	-0.63
Martin ratio: Return relative to average drawdown	6.00	7.55	-1.55

H4ZA.DE vs. ECDC.DE - Sharpe Ratio Comparison

The current H4ZA.DE Sharpe Ratio is 1.18, which is comparable to the ECDC.DE Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of H4ZA.DE and ECDC.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

H4ZA.DE vs. ECDC.DE - Drawdown Comparison

The maximum H4ZA.DE drawdown since its inception was -38.40%, which is greater than ECDC.DE's maximum drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and ECDC.DE.

Drawdown Indicators

	H4ZA.DE	ECDC.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.40%	-35.49%	-2.91%
Max Drawdown (1Y) Largest decline over 1 year	-10.97%	-7.52%	-3.45%
Max Drawdown (3Y) Largest decline over 3 years	-16.39%	-11.02%	-5.37%
Max Drawdown (5Y) Largest decline over 5 years	-23.26%	-28.39%	+5.13%
Max Drawdown (10Y) Largest decline over 10 years	-38.40%	—	—
Current Drawdown Current decline from peak	-2.69%	0.00%	-2.69%
Average Drawdown Average peak-to-trough decline	-7.18%	-13.88%	+6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	2.35%	+0.79%

Volatility

H4ZA.DE vs. ECDC.DE - Volatility Comparison

HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a higher volatility of 3.98% compared to Expat Croatia Crobex UCITS ETF (ECDC.DE) at 2.31%. This indicates that H4ZA.DE's price experiences larger fluctuations and is considered to be riskier than ECDC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4ZA.DE	ECDC.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	2.31%	+1.67%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	11.01%	+2.34%
Volatility (1Y) Calculated over the trailing 1-year period	16.04%	13.20%	+2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	12.69%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	13.55%	+4.26%

H4ZA.DE vs. ECDC.DE - Expense Ratio Comparison

H4ZA.DE has a 0.05% expense ratio, which is lower than ECDC.DE's 1.38% expense ratio.

Dividends

H4ZA.DE vs. ECDC.DE - Dividend Comparison

H4ZA.DE's dividend yield for the trailing twelve months is around 2.38%, while ECDC.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECDC.DE Expat Croatia Crobex 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	2.38%	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

Can I hold both H4ZA.DE and ECDC.DE in my portfolio?

H4ZA.DE and ECDC.DE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, H4ZA.DE or ECDC.DE?

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.

Which ETF is cheaper, H4ZA.DE or ECDC.DE?

H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 1.38% for ECDC.DE.

What is the main difference between H4ZA.DE and ECDC.DE?

H4ZA.DE tracks EURO STOXX® 50, while ECDC.DE tracks CROBEX Index. They also come from different issuers: HSBC and Expat. Their fees differ too: 0.05% for H4ZA.DE and 1.38% for ECDC.DE.