H4ZE.DE vs. H4ZZ.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds from HSBC - H4ZE.DE tracks the MSCI Europe while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past 3 years, H4ZE.DE returned 14.48%/yr vs 15.64%/yr for H4ZZ.DE. Their correlation of 0.94 suggests significant overlap in exposure. H4ZE.DE charges 0.10%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
H4ZE.DE vs. H4ZZ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with H4ZE.DE having a 7.42% return and H4ZZ.DE slightly lower at 7.20%.
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%
H4ZZ.DE
- 1D
- 0.77%
- 1M
- 1.96%
- YTD
- 7.20%
- 6M
- 8.56%
- 1Y
- 15.62%
- 3Y*
- 15.64%
- 5Y*
- —
- 10Y*
- —
H4ZE.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 7.42% | 20.37% | 10.54% | 15.61% | 3.01% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 7.20% | 22.35% | 10.99% | 22.53% | 9.82% |
Correlation
The correlation between H4ZE.DE and H4ZZ.DE is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.94 |
The correlation between H4ZE.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. H4ZZ.DE — Risk / Return Rank
H4ZE.DE
H4ZZ.DE
H4ZE.DE vs. H4ZZ.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 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.
| H4ZE.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.43 | +0.26 |
| Martin ratioReturn relative to average drawdown | 6.20 | 4.86 | +1.34 |
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 | H4ZZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.98 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.18 | -0.67 |
Drawdowns
H4ZE.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.52%, 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 H4ZE.DE and H4ZZ.DE.
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Drawdown Indicators
| H4ZE.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -16.46% | -19.06% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -10.94% | +1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -16.46% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | — | — |
Current DrawdownCurrent decline from peak | -2.04% | -0.53% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -2.68% | -3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 3.23% | -0.66% |
Volatility
H4ZE.DE vs. H4ZZ.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) is 4.57%, while HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a volatility of 4.93%. This indicates that H4ZE.DE experiences smaller price fluctuations and is considered to be less risky than H4ZZ.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 | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 4.93% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 12.97% | -2.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 15.97% | -2.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 15.85% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 15.85% | -0.36% |
H4ZE.DE vs. H4ZZ.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is higher than H4ZZ.DE's 0.05% expense ratio. However, 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. H4ZZ.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.43%, while H4ZZ.DE has not paid dividends to shareholders.
| 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% |
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
With a correlation of 0.94, H4ZE.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.
On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.10% for H4ZE.DE.
H4ZE.DE tracks MSCI Europe, while H4ZZ.DE tracks EURO STOXX 50. Their fees differ too: 0.10% for H4ZE.DE and 0.05% for H4ZZ.DE.
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