H4ZA.DE vs. H4ZZ.DE

Last updated Jun 5, 2026

H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds from HSBC - H4ZA.DE tracks the EURO STOXX® 50 while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past 3 years, H4ZA.DE returned 16.60%/yr vs 15.64%/yr for H4ZZ.DE. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.05% expense ratio.

Performance

H4ZA.DE vs. H4ZZ.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 HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with H4ZA.DE having a 7.24% return and H4ZZ.DE slightly lower at 7.20%.

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%

H4ZZ.DE

• 1D: 0.77%
• 1M: 1.96%
• YTD: 7.20%
• 6M: 8.56%
• 1Y: 15.62%
• 3Y*: 15.64%
• 5Y*: —
• 10Y*: —

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

H4ZA.DE vs. H4ZZ.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR	7.24%	22.26%	13.81%	22.59%	9.81%
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)	7.20%	22.35%	10.99%	22.53%	9.82%

Correlation

The correlation between H4ZA.DE and H4ZZ.DE is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022	1.00

The correlation between H4ZA.DE and H4ZZ.DE has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

H4ZA.DE vs. H4ZZ.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: 29
H4ZA.DE Sharpe Ratio Rank: 28
H4ZA.DE Sortino Ratio Rank: 29
H4ZA.DE Omega Ratio Rank: 28
H4ZA.DE Calmar Ratio Rank: 30
H4ZA.DE Martin Ratio Rank: 33

H4ZZ.DE

H4ZZ.DE Risk / Return Rank: 29
H4ZZ.DE Sharpe Ratio Rank: 28
H4ZZ.DE Sortino Ratio Rank: 29
H4ZZ.DE Omega Ratio Rank: 28
H4ZZ.DE Calmar Ratio Rank: 30
H4ZZ.DE Martin Ratio Rank: 33

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. H4ZZ.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 Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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	H4ZZ.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.98	0.98	0.00
Sortino ratio: Return per unit of downside risk	1.54	1.54	0.00
Omega ratio: Gain probability vs. loss probability	1.18	1.18	0.00
Calmar ratio: Return relative to maximum drawdown	1.43	1.43	0.00
Martin ratio: Return relative to average drawdown	4.85	4.86	-0.01
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. H4ZZ.DE - Sharpe Ratio Comparison

The current H4ZA.DE Sharpe Ratio is 0.98, which is comparable to the H4ZZ.DE Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of H4ZA.DE and H4ZZ.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.

Sharpe Ratios by Period

	H4ZA.DE	H4ZZ.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.98	0.98	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	1.18	-0.77

Drawdowns

H4ZA.DE vs. H4ZZ.DE - Drawdown Comparison

The maximum H4ZA.DE drawdown since its inception was -38.41%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for H4ZA.DE and H4ZZ.DE.

Drawdown Indicators

	H4ZA.DE	H4ZZ.DE	Difference
Max Drawdown Largest peak-to-trough decline	-38.41%	-16.46%	-21.95%
Max Drawdown (1Y) Largest decline over 1 year	-10.97%	-10.94%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.40%	-16.46%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-23.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.41%	—	—
Current Drawdown Current decline from peak	-0.50%	-0.53%	+0.03%
Average Drawdown Average peak-to-trough decline	-7.84%	-2.68%	-5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	3.23%	+0.01%

Volatility

H4ZA.DE vs. H4ZZ.DE - Volatility Comparison

HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) and HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) have volatilities of 4.95% and 4.93%, 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.

Volatility by Period

	H4ZA.DE	H4ZZ.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	4.93%	+0.02%
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%	15.97%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.50%	15.85%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.17%	15.85%	+2.32%

H4ZA.DE vs. H4ZZ.DE - Expense Ratio Comparison

Both H4ZA.DE and H4ZZ.DE have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

H4ZA.DE vs. H4ZZ.DE - Dividend Comparison

H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%, while H4ZZ.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%
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both H4ZA.DE and H4ZZ.DE in my portfolio?

With a correlation of 1.00, H4ZA.DE and H4ZZ.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.

Which ETF is better, H4ZA.DE or H4ZZ.DE?

Both ETFs have the same 0.05% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, H4ZA.DE or H4ZZ.DE?

H4ZA.DE and H4ZZ.DE have the same expense ratio: 0.05% per year.

What is the main difference between H4ZA.DE and H4ZZ.DE?

H4ZA.DE tracks EURO STOXX® 50, while H4ZZ.DE tracks EURO STOXX 50.