H4ZE.DE vs. H4ZJ.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and H4ZJ.DE (HSBC MSCI World UCITS ETF USD) are both exchange-traded funds - H4ZE.DE is a Europe Equities fund tracking the MSCI Europe, while H4ZJ.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 10 years, H4ZE.DE returned 9.41%/yr vs 14.71%/yr for H4ZJ.DE. Their correlation of 0.80 suggests significant overlap in exposure. H4ZE.DE charges 0.10%/yr vs 0.15%/yr for H4ZJ.DE.
Performance
H4ZE.DE vs. H4ZJ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZE.DE achieves a 7.42% return, which is significantly lower than H4ZJ.DE's 10.86% return. Over the past 10 years, H4ZE.DE has underperformed H4ZJ.DE with an annualized return of 9.41%, while H4ZJ.DE has yielded a comparatively higher 14.71% annualized return.
H4ZE.DE
- 1D
- 0.63%
- 1M
- 1.17%
- YTD
- 7.42%
- 6M
- 9.80%
- 1Y
- 15.80%
- 3Y*
- 14.48%
- 5Y*
- 10.49%
- 10Y*
- 9.41%
H4ZJ.DE
- 1D
- -0.34%
- 1M
- 3.69%
- YTD
- 10.86%
- 6M
- 10.96%
- 1Y
- 23.81%
- 3Y*
- 18.46%
- 5Y*
- 13.87%
- 10Y*
- 14.71%
H4ZE.DE vs. H4ZJ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 7.42% | 20.37% | 10.54% | 15.61% | -8.94% | 25.21% | -3.31% | 28.06% | -11.05% | 10.41% |
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 10.86% | 8.00% | 26.94% | 22.28% | -13.11% | 35.34% | 7.78% | 34.57% | -2.46% | 9.87% |
Correlation
The correlation between H4ZE.DE and H4ZJ.DE is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.80 |
The correlation between H4ZE.DE and H4ZJ.DE has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. H4ZJ.DE — Risk / Return Rank
H4ZE.DE
H4ZJ.DE
H4ZE.DE vs. H4ZJ.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 HSBC MSCI World UCITS ETF USD (H4ZJ.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.
| H4ZE.DE | H4ZJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.40 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 3.61 | -1.92 |
| Martin ratioReturn relative to average drawdown | 6.20 | 14.41 | -8.21 |
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
| H4ZE.DE | H4ZJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 2.13 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.97 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.97 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.93 | -0.43 |
Drawdowns
H4ZE.DE vs. H4ZJ.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.52%, which is greater than H4ZJ.DE's maximum drawdown of -33.60%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and H4ZJ.DE.
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Drawdown Indicators
| H4ZE.DE | H4ZJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -33.60% | -1.92% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -6.59% | -2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -21.65% | +5.16% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | -21.65% | +2.48% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | -33.60% | -1.92% |
Current DrawdownCurrent decline from peak | -2.04% | -0.34% | -1.70% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -4.02% | -1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 1.66% | +0.91% |
Volatility
H4ZE.DE vs. H4ZJ.DE - Volatility Comparison
HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) has a higher volatility of 4.57% compared to HSBC MSCI World UCITS ETF USD (H4ZJ.DE) at 2.77%. This indicates that H4ZE.DE's price experiences larger fluctuations and is considered to be riskier than H4ZJ.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 | H4ZJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 2.77% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 7.73% | +3.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 11.24% | +1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 14.14% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 15.05% | +0.44% |
H4ZE.DE vs. H4ZJ.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is lower than H4ZJ.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
H4ZE.DE vs. H4ZJ.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.43%, more than H4ZJ.DE's 1.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 2.43% | 2.58% | 5.12% | 2.81% | 3.03% | 2.09% | 2.15% | 2.91% | 3.35% | 2.75% | 2.88% | 2.69% |
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 1.16% | 1.28% | 2.06% | 3.02% | 2.65% | 2.73% | 3.30% | 4.02% | 4.71% | 3.58% | 4.02% | 3.46% |
Frequently Asked Questions
H4ZE.DE and H4ZJ.DE have a correlation of 0.75, 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 0.15% for H4ZJ.DE.
H4ZE.DE is categorized as Europe Equities, while H4ZJ.DE is Global Equities. H4ZE.DE tracks MSCI Europe, while H4ZJ.DE tracks MSCI World. Their fees differ too: 0.10% for H4ZE.DE and 0.15% for H4ZJ.DE.
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