H4ZE.DE vs. MVEE.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and MVEE.DE (iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc)) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while MVEE.DE tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 5 years, H4ZE.DE returned 10.79%/yr vs 6.17%/yr for MVEE.DE. Their correlation of 0.87 suggests significant overlap in exposure. H4ZE.DE charges 0.10%/yr vs 0.25%/yr for MVEE.DE.
Performance
H4ZE.DE vs. MVEE.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 higher than MVEE.DE's 8.14% 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%
MVEE.DE
- 1D
- 0.92%
- 1M
- 1.27%
- YTD
- 8.14%
- 6M
- 8.67%
- 1Y
- 11.72%
- 3Y*
- 10.33%
- 5Y*
- 6.17%
- 10Y*
- —
H4ZE.DE vs. MVEE.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% | 24.14% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) | 8.14% | 8.71% | 8.75% | 12.46% | -15.04% | 23.79% | 13.95% |
Correlation
The correlation between H4ZE.DE and MVEE.DE is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Apr 17, 2020 | 0.87 |
Over the past year, the correlation between H4ZE.DE and MVEE.DE has dropped to 0.66 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.
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Return for Risk
H4ZE.DE vs. MVEE.DE — Risk / Return Rank
H4ZE.DE
MVEE.DE
H4ZE.DE vs. MVEE.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 Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.22 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 1.58 | +0.79 |
| Martin ratioReturn relative to average drawdown | 8.89 | 5.45 | +3.44 |
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Drawdowns
H4ZE.DE vs. MVEE.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.51%, which is greater than MVEE.DE's maximum drawdown of -20.19%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and MVEE.DE.
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Drawdown Indicators
| H4ZE.DE | MVEE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -20.19% | -15.32% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -7.40% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -12.19% | -4.30% |
Max Drawdown (5Y)Largest decline over 5 years | -19.21% | -20.19% | +0.98% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -4.50% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.15% | +0.36% |
Volatility
H4ZE.DE vs. MVEE.DE - Volatility Comparison
HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) has a higher volatility of 2.87% compared to iShares Edge MSCI Europe Minimum Volatility ESG UCITS ETF (Acc) (MVEE.DE) at 2.19%. This indicates that H4ZE.DE's price experiences larger fluctuations and is considered to be riskier than MVEE.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 | MVEE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 2.19% | +0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.89% | 8.16% | +2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.05% | 9.93% | +3.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 12.08% | +2.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 12.47% | +2.58% |
H4ZE.DE vs. MVEE.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is lower than MVEE.DE's 0.25% 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. MVEE.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.36%, while MVEE.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 | 2.36% | 2.58% | 5.12% | 2.81% | 3.03% | 2.09% | 2.15% | 2.91% | 3.35% | 2.75% | 2.88% | 2.69% |
MVEE.DE iShares Edge MSCI Europe Minimum Volatility ESG 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% |
Frequently Asked Questions
H4ZE.DE and MVEE.DE have a correlation of 0.66, 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 0.25% for MVEE.DE.
H4ZE.DE tracks MSCI Europe, while MVEE.DE tracks MSCI Europe NR EUR. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.10% for H4ZE.DE and 0.25% for MVEE.DE.
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