H4ZE.DE vs. IBCJ.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and IBCJ.DE (iShares MSCI Poland UCITS ETF USD (Acc)) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while IBCJ.DE tracks the MSCI Poland. Both are passively managed. Over the past 10 years, H4ZE.DE returned 9.41%/yr vs 9.17%/yr for IBCJ.DE. A 0.57 correlation means they provide meaningful diversification when combined. H4ZE.DE charges 0.10%/yr vs 0.74%/yr for IBCJ.DE.
Performance
H4ZE.DE vs. IBCJ.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 IBCJ.DE's 16.30% return. Both investments have delivered pretty close results over the past 10 years, with H4ZE.DE having a 9.41% annualized return and IBCJ.DE not far behind at 9.17%.
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%
IBCJ.DE
- 1D
- 0.17%
- 1M
- 1.95%
- YTD
- 16.30%
- 6M
- 26.50%
- 1Y
- 40.90%
- 3Y*
- 29.89%
- 5Y*
- 14.80%
- 10Y*
- 9.17%
H4ZE.DE vs. IBCJ.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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (Acc) | 16.30% | 53.66% | -0.42% | 43.86% | -21.74% | 14.34% | -18.69% | -3.73% | -9.07% | 35.59% |
Correlation
The correlation between H4ZE.DE and IBCJ.DE is 0.55, 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 | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.57 |
The correlation between H4ZE.DE and IBCJ.DE has been stable across timeframes, ranging from 0.54 to 0.58 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. IBCJ.DE — Risk / Return Rank
H4ZE.DE
IBCJ.DE
H4ZE.DE vs. IBCJ.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 iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.52 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 3.90 | -2.21 |
| Martin ratioReturn relative to average drawdown | 6.20 | 9.60 | -3.40 |
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 | IBCJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.65 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.55 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.36 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.15 | +0.36 |
Drawdowns
H4ZE.DE vs. IBCJ.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.52%, smaller than the maximum IBCJ.DE drawdown of -56.11%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and IBCJ.DE.
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Drawdown Indicators
| H4ZE.DE | IBCJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -56.11% | +20.59% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -9.96% | +0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -18.47% | +1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | -47.31% | +28.14% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | -56.11% | +20.59% |
Current DrawdownCurrent decline from peak | -2.04% | -1.16% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -19.38% | +13.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 4.05% | -1.48% |
Volatility
H4ZE.DE vs. IBCJ.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) is 4.57%, while iShares MSCI Poland UCITS ETF USD (Acc) (IBCJ.DE) has a volatility of 7.13%. This indicates that H4ZE.DE experiences smaller price fluctuations and is considered to be less risky than IBCJ.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 | IBCJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 7.13% | -2.56% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 17.61% | -6.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 23.48% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 26.72% | -12.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 25.15% | -9.66% |
H4ZE.DE vs. IBCJ.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is lower than IBCJ.DE's 0.74% expense ratio.
Dividends
H4ZE.DE vs. IBCJ.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.43%, while IBCJ.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% |
IBCJ.DE iShares MSCI Poland UCITS ETF USD (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
H4ZE.DE and IBCJ.DE have a correlation of 0.55, 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 0.74% for IBCJ.DE.
H4ZE.DE tracks MSCI Europe, while IBCJ.DE tracks MSCI Poland. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.10% for H4ZE.DE and 0.74% for IBCJ.DE.
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