H4ZA.DE vs. EL4A.DE
H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) and EL4A.DE (Deka DAX UCITS ETF) are both Europe Equities funds - H4ZA.DE tracks the EURO STOXX® 50 while EL4A.DE tracks the DAX®. Both are passively managed. Over the past 10 years, H4ZA.DE returned 10.80%/yr vs 8.89%/yr for EL4A.DE. Their correlation of 0.91 suggests significant overlap in exposure. H4ZA.DE charges 0.05%/yr vs 0.15%/yr for EL4A.DE.
Performance
H4ZA.DE vs. EL4A.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 higher than EL4A.DE's 1.28% return. Over the past 10 years, H4ZA.DE has outperformed EL4A.DE with an annualized return of 10.80%, while EL4A.DE has yielded a comparatively lower 8.89% annualized return.
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%
EL4A.DE
- 1D
- 0.51%
- 1M
- -0.07%
- YTD
- 1.28%
- 6M
- 3.34%
- 1Y
- 2.01%
- 3Y*
- 15.42%
- 5Y*
- 9.09%
- 10Y*
- 8.89%
H4ZA.DE vs. EL4A.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% |
EL4A.DE Deka DAX UCITS ETF | 1.28% | 22.57% | 18.09% | 19.52% | -12.77% | 15.21% | 3.01% | 24.61% | -18.58% | 12.49% |
Correlation
The correlation between H4ZA.DE and EL4A.DE is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2010 | 0.91 |
The correlation between H4ZA.DE and EL4A.DE has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.
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Return for Risk
H4ZA.DE vs. EL4A.DE — Risk / Return Rank
H4ZA.DE
EL4A.DE
H4ZA.DE vs. EL4A.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 Deka DAX UCITS ETF (EL4A.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 | EL4A.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.22 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.04 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 0.18 | +1.25 |
| Martin ratioReturn relative to average drawdown | 4.85 | 0.56 | +4.29 |
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 | EL4A.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 0.14 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.52 | +0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.48 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.37 | +0.04 |
Drawdowns
H4ZA.DE vs. EL4A.DE - Drawdown Comparison
The maximum H4ZA.DE drawdown since its inception was -38.41%, smaller than the maximum EL4A.DE drawdown of -46.64%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and EL4A.DE.
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Drawdown Indicators
| H4ZA.DE | EL4A.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.41% | -46.64% | +8.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -12.34% | +1.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.40% | -15.89% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -23.26% | -26.76% | +3.50% |
Max Drawdown (10Y)Largest decline over 10 years | -38.41% | -38.68% | +0.27% |
Current DrawdownCurrent decline from peak | -0.50% | -2.29% | +1.79% |
Average DrawdownAverage peak-to-trough decline | -7.84% | -8.91% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 3.98% | -0.74% |
Volatility
H4ZA.DE vs. EL4A.DE - Volatility Comparison
HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) and Deka DAX UCITS ETF (EL4A.DE) have volatilities of 4.95% and 5.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZA.DE | EL4A.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 5.14% | -0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 12.97% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 16.09% | -0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.50% | 17.18% | +0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 18.36% | -0.19% |
H4ZA.DE vs. EL4A.DE - Expense Ratio Comparison
H4ZA.DE has a 0.05% expense ratio, which is lower than EL4A.DE's 0.15% 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. EL4A.DE - Dividend Comparison
H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%, while EL4A.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EL4A.DE Deka DAX UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.65% | 0.56% | 0.65% | 0.60% |
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
With a correlation of 0.91, H4ZA.DE and EL4A.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.15% for EL4A.DE.
H4ZA.DE tracks EURO STOXX® 50, while EL4A.DE tracks DAX®. They also come from different issuers: HSBC and Deka. Their fees differ too: 0.05% for H4ZA.DE and 0.15% for EL4A.DE.
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