H4ZA.DE vs. H4ZL.DE
H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both exchange-traded funds - H4ZA.DE is a Europe Equities fund tracking the EURO STOXX® 50, while H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 10 years, H4ZA.DE returned 10.80%/yr vs 2.35%/yr for H4ZL.DE. A 0.52 correlation means they provide meaningful diversification when combined. H4ZA.DE charges 0.05%/yr vs 0.24%/yr for H4ZL.DE.
Performance
H4ZA.DE vs. H4ZL.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 H4ZL.DE's 6.32% return. Over the past 10 years, H4ZA.DE has outperformed H4ZL.DE with an annualized return of 10.80%, while H4ZL.DE has yielded a comparatively lower 2.35% 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%
H4ZL.DE
- 1D
- -0.02%
- 1M
- -2.45%
- YTD
- 6.32%
- 6M
- 5.97%
- 1Y
- 6.50%
- 3Y*
- 3.13%
- 5Y*
- 0.30%
- 10Y*
- 2.35%
H4ZA.DE vs. H4ZL.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% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 6.32% | -4.65% | 2.27% | 6.12% | -20.22% | 36.90% | -16.99% | 23.91% | -0.81% | -2.27% |
Correlation
The correlation between H4ZA.DE and H4ZL.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.52 |
The correlation between H4ZA.DE and H4ZL.DE shifts across timeframes, from 0.39 (3 years) to 0.52 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
H4ZA.DE vs. H4ZL.DE — Risk / Return Rank
H4ZA.DE
H4ZL.DE
H4ZA.DE vs. H4ZL.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 HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.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 | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.11 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 0.84 | +0.58 |
| Martin ratioReturn relative to average drawdown | 4.85 | 2.48 | +2.36 |
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 | H4ZL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 0.59 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.02 | +0.66 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.59 | 0.14 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.29 | +0.12 |
Drawdowns
H4ZA.DE vs. H4ZL.DE - Drawdown Comparison
The maximum H4ZA.DE drawdown since its inception was -38.41%, smaller than the maximum H4ZL.DE drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and H4ZL.DE.
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Drawdown Indicators
| H4ZA.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.41% | -41.97% | +3.56% |
Max Drawdown (1Y)Largest decline over 1 year | -10.97% | -7.82% | -3.15% |
Max Drawdown (3Y)Largest decline over 3 years | -16.40% | -20.68% | +4.28% |
Max Drawdown (5Y)Largest decline over 5 years | -23.26% | -30.45% | +7.19% |
Max Drawdown (10Y)Largest decline over 10 years | -38.41% | -41.97% | +3.56% |
Current DrawdownCurrent decline from peak | -0.50% | -13.81% | +13.31% |
Average DrawdownAverage peak-to-trough decline | -7.84% | -10.80% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.24% | 2.67% | +0.57% |
Volatility
H4ZA.DE vs. H4ZL.DE - Volatility Comparison
HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a higher volatility of 4.95% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) at 2.88%. This indicates that H4ZA.DE's price experiences larger fluctuations and is considered to be riskier than H4ZL.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 | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 2.88% | +2.07% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 8.34% | +4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 11.21% | +4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.50% | 14.69% | +2.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.17% | 16.27% | +1.90% |
H4ZA.DE vs. H4ZL.DE - Expense Ratio Comparison
H4ZA.DE has a 0.05% expense ratio, which is lower than H4ZL.DE's 0.24% 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. H4ZL.DE - Dividend Comparison
H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%, while H4ZL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 0.00% | 0.00% | 0.00% | 2.63% | 3.62% | 2.19% | 3.13% | 2.95% | 3.29% | 3.08% | 2.96% | 2.67% |
Frequently Asked Questions
H4ZA.DE and H4ZL.DE have a correlation of 0.44, 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 0.24% for H4ZL.DE.
H4ZA.DE is categorized as Europe Equities, while H4ZL.DE is REIT. H4ZA.DE tracks EURO STOXX® 50, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. Their fees differ too: 0.05% for H4ZA.DE and 0.24% for H4ZL.DE.
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