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H4ZA.DE vs. GLD
Performance
Return for Risk
Dividends
Drawdowns
Volatility

H4ZA.DE vs. GLD

Last updated Apr 3, 2026

Compare and contrast key facts about HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) and SPDR Gold Shares (GLD).

H4ZA.DE and GLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. H4ZA.DE is a passively managed fund by HSBC that tracks the performance of the EURO STOXX® 50. It was launched on Oct 5, 2009. GLD is a passively managed fund by State Street that tracks the performance of the LBMA Gold Price PM. It was launched on Nov 18, 2004. Both H4ZA.DE and GLD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

H4ZA.DE vs. GLD - 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 SPDR Gold Shares (GLD). The values are adjusted to include any dividend payments, if applicable.

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H4ZA.DE vs. GLD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
H4ZA.DE
HSBC EURO STOXX 50 UCITS ETF EUR		-1.46%22.26%13.81%22.59%-8.87%23.72%-2.73%30.07%-11.96%10.07%
GLD
SPDR Gold Shares		10.31%44.25%35.02%9.31%5.38%3.02%14.53%20.52%2.66%-1.05%
Different Trading Currencies

H4ZA.DE is traded in EUR, while GLD is traded in USD. To make them comparable, the GLD values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, H4ZA.DE achieves a -1.46% return, which is significantly lower than GLD's 12.17% return. Over the past 10 years, H4ZA.DE has underperformed GLD with an annualized return of 10.28%, while GLD has yielded a comparatively higher 14.01% annualized return.

H4ZA.DE

1D
-0.65%
1M
-1.09%
YTD
-1.46%
6M
1.39%
1Y
10.46%
3Y*
13.87%
5Y*
11.28%
10Y*
10.28%

GLD

1D
0.00%
1M
-6.12%
YTD
12.17%
6M
25.02%
1Y
42.23%
3Y*
30.76%
5Y*
22.44%
10Y*
14.01%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC EURO STOXX 50 UCITS ETF EUR

SPDR Gold Shares

Often compared with H4ZA.DE:
H4ZA.DE vs. H4ZF.DEH4ZA.DE vs. SCHDH4ZA.DE vs. MEUD.LH4ZA.DE vs. ISF.LH4ZA.DE vs. HWWA.LH4ZA.DE vs. TDGB.LH4ZA.DE vs. PR1E.DE
Often compared with GLD:
GLD vs. IAUGLD vs. SPYGLD vs. SLVGLD vs. GOLDGLD vs. GLDMGLD vs. GDXGLD vs. SGOL

H4ZA.DE vs. GLD - Expense Ratio Comparison

H4ZA.DE has a 0.05% expense ratio, which is lower than GLD's 0.40% expense ratio.

GLD
SPDR Gold Shares
H4ZA.DE
HSBC EURO STOXX 50 UCITS ETF EUR

Return for Risk

H4ZA.DE vs. GLD — 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: 3434
Overall Rank
H4ZA.DE Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
H4ZA.DE Sortino Ratio Rank: 2828
Sortino Ratio Rank
H4ZA.DE Omega Ratio Rank: 2828
Omega Ratio Rank
H4ZA.DE Calmar Ratio Rank: 4141
Calmar Ratio Rank
H4ZA.DE Martin Ratio Rank: 4242
Martin Ratio Rank
GLD
GLD Risk / Return Rank: 8080
Overall Rank
GLD Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
GLD Sortino Ratio Rank: 8080
Sortino Ratio Rank
GLD Omega Ratio Rank: 8080
Omega Ratio Rank
GLD Calmar Ratio Rank: 8080
Calmar Ratio Rank
GLD Martin Ratio Rank: 7676
Martin Ratio Rank
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. GLD - 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 SPDR Gold Shares (GLD). 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.DEGLDDifference

Sharpe ratio

Return per unit of total volatility

0.60

1.65

-1.05

Sortino ratio

Return per unit of downside risk

0.91

2.09

-1.18

Omega ratio

Gain probability vs. loss probability

1.12

1.32

-0.20

Calmar ratio

Return relative to maximum drawdown

1.33

2.45

-1.13

Martin ratio

Return relative to average drawdown

4.88

8.43

-3.55

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4ZA.DE vs. GLD - Sharpe Ratio Comparison

The current H4ZA.DE Sharpe Ratio is 0.60, which is lower than the GLD Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of H4ZA.DE and GLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

H4ZA.DEGLDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.60

1.65

-1.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

1.37

-0.72

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.95

-0.38

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.68

-0.29

Correlation

The correlation between H4ZA.DE and GLD is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.

Dividends

H4ZA.DE vs. GLD - Dividend Comparison

H4ZA.DE's dividend yield for the trailing twelve months is around 2.65%, while GLD has not paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
H4ZA.DE
HSBC EURO STOXX 50 UCITS ETF EUR		2.65%2.49%5.35%2.93%2.94%1.94%2.06%2.84%3.55%2.73%2.85%2.70%
GLD
SPDR Gold Shares		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

H4ZA.DE vs. GLD - Drawdown Comparison

The maximum H4ZA.DE drawdown since its inception was -38.41%, roughly equal to the maximum GLD drawdown of -37.47%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and GLD.

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Drawdown Indicators

H4ZA.DEGLDDifference

Max Drawdown

Largest peak-to-trough decline

-38.41%

-45.56%

+7.15%

Max Drawdown (1Y)

Largest decline over 1 year

-10.97%

-19.21%

+8.24%

Max Drawdown (5Y)

Largest decline over 5 years

-23.26%

-21.03%

-2.23%

Max Drawdown (10Y)

Largest decline over 10 years

-38.41%

-22.00%

-16.41%

Current Drawdown

Current decline from peak

-7.65%

-13.41%

+5.76%

Average Drawdown

Average peak-to-trough decline

-7.90%

-16.17%

+8.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.98%

5.32%

-2.34%

Volatility

H4ZA.DE vs. GLD - Volatility Comparison

The current volatility for HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) is 6.32%, while SPDR Gold Shares (GLD) has a volatility of 10.54%. This indicates that H4ZA.DE experiences smaller price fluctuations and is considered to be less risky than GLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

H4ZA.DEGLDDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.32%

10.54%

-4.22%

Volatility (6M)

Calculated over the trailing 6-month period

11.00%

23.32%

-12.32%

Volatility (1Y)

Calculated over the trailing 1-year period

17.39%

25.76%

-8.37%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.23%

16.49%

+0.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.11%

14.82%

+3.29%