H4ZE.DE vs. PR1E.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and PR1E.DE (Amundi Prime Europe UCITS ETF DR (D)) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while PR1E.DE tracks the Solactive GBS Developed Markets Europe Large & Mid Cap. Both are passively managed. Over the past 5 years, H4ZE.DE returned 10.49%/yr vs 10.02%/yr for PR1E.DE. With a 0.98 correlation, they move nearly in lockstep. H4ZE.DE charges 0.10%/yr vs 0.05%/yr for PR1E.DE.
Performance
H4ZE.DE vs. PR1E.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with H4ZE.DE having a 7.42% return and PR1E.DE slightly higher at 7.72%.
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%
PR1E.DE
- 1D
- 0.46%
- 1M
- 0.90%
- YTD
- 7.72%
- 6M
- 10.13%
- 1Y
- 16.32%
- 3Y*
- 13.86%
- 5Y*
- 10.02%
- 10Y*
- —
H4ZE.DE vs. PR1E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 7.42% | 20.37% | 10.54% | 15.61% | -8.94% | 25.21% | -3.31% | 14.91% |
PR1E.DE Amundi Prime Europe UCITS ETF DR (D) | 7.72% | 20.48% | 8.42% | 15.89% | -9.34% | 25.39% | -3.59% | 15.15% |
Correlation
The correlation between H4ZE.DE and PR1E.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019 | 0.98 |
The correlation between H4ZE.DE and PR1E.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. PR1E.DE — Risk / Return Rank
H4ZE.DE
PR1E.DE
H4ZE.DE vs. PR1E.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 Amundi Prime Europe UCITS ETF DR (D) (PR1E.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 | PR1E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 1.81 | -0.13 |
| Martin ratioReturn relative to average drawdown | 6.20 | 6.80 | -0.60 |
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 | PR1E.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 1.32 | -0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.68 | +0.04 |
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 | 0.62 | -0.12 |
Drawdowns
H4ZE.DE vs. PR1E.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.52%, roughly equal to the maximum PR1E.DE drawdown of -35.98%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and PR1E.DE.
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Drawdown Indicators
| H4ZE.DE | PR1E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -35.98% | +0.46% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -9.39% | -0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -16.84% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | -19.66% | +0.49% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | — | — |
Current DrawdownCurrent decline from peak | -2.04% | -1.61% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -4.90% | -0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.51% | +0.06% |
Volatility
H4ZE.DE vs. PR1E.DE - Volatility Comparison
HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) has a higher volatility of 4.57% compared to Amundi Prime Europe UCITS ETF DR (D) (PR1E.DE) at 4.33%. This indicates that H4ZE.DE's price experiences larger fluctuations and is considered to be riskier than PR1E.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 | PR1E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 4.33% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 10.60% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 12.88% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 14.48% | -0.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 16.68% | -1.19% |
H4ZE.DE vs. PR1E.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is higher than PR1E.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. PR1E.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.43%, more than PR1E.DE's 2.38% 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% |
PR1E.DE Amundi Prime Europe UCITS ETF DR (D) | 2.38% | 2.56% | 2.87% | 2.91% | 3.15% | 2.25% | 2.17% | 2.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, H4ZE.DE and PR1E.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, PR1E.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PR1E.DE is cheaper with a 0.05% expense ratio, compared with 0.10% for H4ZE.DE.
H4ZE.DE tracks MSCI Europe, while PR1E.DE tracks Solactive GBS Developed Markets Europe Large & Mid Cap. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.10% for H4ZE.DE and 0.05% for PR1E.DE.
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