H4ZE.DE vs. FTGE.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and FTGE.DE (First Trust Eurozone AlphaDEX UCITS ETF Acc) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while FTGE.DE tracks the Nasdaq AlphaDEX® Eurozone. Both are passively managed. Over the past 5 years, H4ZE.DE returned 10.79%/yr vs 11.74%/yr for FTGE.DE. Their correlation of 0.86 suggests significant overlap in exposure. H4ZE.DE charges 0.10%/yr vs 0.65%/yr for FTGE.DE.
Performance
H4ZE.DE vs. FTGE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZE.DE achieves a 10.55% return, which is significantly lower than FTGE.DE's 12.96% return.
H4ZE.DE
- 1D
- 0.86%
- 1M
- 2.40%
- YTD
- 10.55%
- 6M
- 11.27%
- 1Y
- 22.40%
- 3Y*
- 16.16%
- 5Y*
- 10.79%
- 10Y*
- 10.80%
FTGE.DE
- 1D
- 0.00%
- 1M
- -0.29%
- YTD
- 12.96%
- 6M
- 13.77%
- 1Y
- 31.10%
- 3Y*
- 22.44%
- 5Y*
- 11.74%
- 10Y*
- —
H4ZE.DE vs. FTGE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 10.55% | 20.36% | 10.54% | 15.62% | -8.94% | 25.17% | 22.81% |
FTGE.DE First Trust Eurozone AlphaDEX UCITS ETF Acc | 12.96% | 39.79% | 9.52% | 12.43% | -14.37% | 20.47% | 26.65% |
Correlation
The correlation between H4ZE.DE and FTGE.DE is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 18, 2020 | 0.86 |
The correlation between H4ZE.DE and FTGE.DE has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. FTGE.DE — Risk / Return Rank
H4ZE.DE
FTGE.DE
H4ZE.DE vs. FTGE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) and First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.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.
| H4ZE.DE | FTGE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.40 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 3.33 | -0.96 |
| Martin ratioReturn relative to average drawdown | 8.89 | 12.80 | -3.91 |
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Drawdowns
H4ZE.DE vs. FTGE.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.51%, which is greater than FTGE.DE's maximum drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and FTGE.DE.
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Drawdown Indicators
| H4ZE.DE | FTGE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -26.63% | -8.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -9.38% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -16.12% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -19.21% | -26.63% | +7.42% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.61% | +1.61% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -5.37% | -0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.44% | +0.07% |
Volatility
H4ZE.DE vs. FTGE.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) is 2.87%, while First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.DE) has a volatility of 3.30%. This indicates that H4ZE.DE experiences smaller price fluctuations and is considered to be less risky than FTGE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZE.DE | FTGE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.30% | -0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 10.89% | 11.94% | -1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.05% | 14.30% | -1.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 17.54% | -3.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 18.38% | -3.33% |
H4ZE.DE vs. FTGE.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is lower than FTGE.DE's 0.65% expense ratio.
Dividends
H4ZE.DE vs. FTGE.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.36%, while FTGE.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FTGE.DE First Trust Eurozone AlphaDEX UCITS ETF 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% |
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 2.36% | 2.58% | 5.12% | 2.81% | 3.03% | 2.09% | 2.15% | 2.91% | 3.35% | 2.75% | 2.88% | 2.69% |
Frequently Asked Questions
H4ZE.DE and FTGE.DE have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZE.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZE.DE is cheaper with a 0.10% expense ratio, compared with 0.65% for FTGE.DE.
H4ZE.DE tracks MSCI Europe, while FTGE.DE tracks Nasdaq AlphaDEX® Eurozone. They also come from different issuers: HSBC and First Trust. Their fees differ too: 0.10% for H4ZE.DE and 0.65% for FTGE.DE.
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