H4ZE.DE vs. SC0D.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and SC0D.DE (Invesco EURO STOXX 50 UCITS ETF) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while SC0D.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 10 years, H4ZE.DE returned 9.41%/yr vs 10.37%/yr for SC0D.DE. Their correlation of 0.92 suggests significant overlap in exposure. H4ZE.DE charges 0.10%/yr vs 0.05%/yr for SC0D.DE.
Performance
H4ZE.DE vs. SC0D.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 SC0D.DE slightly lower at 7.29%. Over the past 10 years, H4ZE.DE has underperformed SC0D.DE with an annualized return of 9.41%, while SC0D.DE has yielded a comparatively higher 10.37% 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%
SC0D.DE
- 1D
- 0.74%
- 1M
- 1.96%
- YTD
- 7.29%
- 6M
- 8.66%
- 1Y
- 15.55%
- 3Y*
- 15.50%
- 5Y*
- 11.35%
- 10Y*
- 10.37%
H4ZE.DE vs. SC0D.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% |
SC0D.DE Invesco EURO STOXX 50 UCITS ETF | 7.29% | 22.01% | 10.91% | 22.46% | -9.02% | 23.19% | -3.03% | 30.01% | -12.05% | 10.07% |
Correlation
The correlation between H4ZE.DE and SC0D.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 (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 13, 2010 | 0.92 |
The correlation between H4ZE.DE and SC0D.DE has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. SC0D.DE — Risk / Return Rank
H4ZE.DE
SC0D.DE
H4ZE.DE vs. SC0D.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 Invesco EURO STOXX 50 UCITS ETF (SC0D.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 | SC0D.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| 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 | 4.87 | +1.33 |
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 | SC0D.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.98 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.64 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.56 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.46 | +0.04 |
Drawdowns
H4ZE.DE vs. SC0D.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.52%, smaller than the maximum SC0D.DE drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and SC0D.DE.
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Drawdown Indicators
| H4ZE.DE | SC0D.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -38.50% | +2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -10.93% | +1.50% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -16.54% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | -23.38% | +4.21% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | -38.50% | +2.98% |
Current DrawdownCurrent decline from peak | -2.04% | -0.53% | -1.51% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -7.22% | +1.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 3.21% | -0.64% |
Volatility
H4ZE.DE vs. SC0D.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) is 4.57%, while Invesco EURO STOXX 50 UCITS ETF (SC0D.DE) has a volatility of 4.94%. This indicates that H4ZE.DE experiences smaller price fluctuations and is considered to be less risky than SC0D.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 | SC0D.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 4.94% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 12.94% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 15.95% | -2.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 17.53% | -3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 18.27% | -2.78% |
H4ZE.DE vs. SC0D.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is higher than SC0D.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. SC0D.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.43%, while SC0D.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% |
SC0D.DE Invesco EURO STOXX 50 UCITS ETF | 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 SC0D.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, SC0D.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SC0D.DE is cheaper with a 0.05% expense ratio, compared with 0.10% for H4ZE.DE.
H4ZE.DE tracks MSCI Europe, while SC0D.DE tracks EURO STOXX® 50. They also come from different issuers: HSBC and Invesco. Their fees differ too: 0.10% for H4ZE.DE and 0.05% for SC0D.DE.
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