H4ZE.DE vs. SXRY.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and SXRY.DE (iShares FTSE MIB UCITS ETF (Acc)) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while SXRY.DE tracks the FTSE MIB. Both are passively managed. Over the past 10 years, H4ZE.DE returned 10.80%/yr vs 17.09%/yr for SXRY.DE. A 0.78 correlation means they provide meaningful diversification when combined. H4ZE.DE charges 0.10%/yr vs 0.33%/yr for SXRY.DE.
Performance
H4ZE.DE vs. SXRY.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 lower than SXRY.DE's 18.23% return. Over the past 10 years, H4ZE.DE has underperformed SXRY.DE with an annualized return of 10.80%, while SXRY.DE has yielded a comparatively higher 17.09% annualized 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%
SXRY.DE
- 1D
- 0.23%
- 1M
- 4.00%
- YTD
- 18.23%
- 6M
- 19.05%
- 1Y
- 37.48%
- 3Y*
- 29.61%
- 5Y*
- 20.54%
- 10Y*
- 17.09%
H4ZE.DE vs. SXRY.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZE.DE HSBC MSCI Europe UCITS ETF EUR | 10.55% | 20.36% | 10.54% | 15.62% | -8.94% | 25.17% | -3.27% | 28.00% | -11.02% | 10.41% |
SXRY.DE iShares FTSE MIB UCITS ETF (Acc) | 18.23% | 37.80% | 18.15% | 33.34% | -9.13% | 26.71% | -4.02% | 33.22% | -14.32% | 16.72% |
Correlation
The correlation between H4ZE.DE and SXRY.DE is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2010 | 0.78 |
The correlation between H4ZE.DE and SXRY.DE has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
H4ZE.DE vs. SXRY.DE — Risk / Return Rank
H4ZE.DE
SXRY.DE
H4ZE.DE vs. SXRY.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 FTSE MIB UCITS ETF (Acc) (SXRY.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 | SXRY.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.41 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 3.85 | -1.48 |
| Martin ratioReturn relative to average drawdown | 8.89 | 14.30 | -5.41 |
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Drawdowns
H4ZE.DE vs. SXRY.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.51%, smaller than the maximum SXRY.DE drawdown of -43.59%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and SXRY.DE.
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Drawdown Indicators
| H4ZE.DE | SXRY.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.51% | -43.59% | +8.08% |
Max Drawdown (1Y)Largest decline over 1 year | -9.42% | -9.69% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -17.61% | +1.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.21% | -25.00% | +5.79% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -40.81% | +5.30% |
Current DrawdownCurrent decline from peak | 0.00% | -1.98% | +1.98% |
Average DrawdownAverage peak-to-trough decline | -5.44% | -11.61% | +6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.51% | 2.61% | -0.10% |
Volatility
H4ZE.DE vs. SXRY.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) is 2.87%, while iShares FTSE MIB UCITS ETF (Acc) (SXRY.DE) has a volatility of 3.90%. This indicates that H4ZE.DE experiences smaller price fluctuations and is considered to be less risky than SXRY.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 | SXRY.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.90% | -1.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.89% | 12.78% | -1.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.05% | 15.89% | -2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 18.29% | -4.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.05% | 19.65% | -4.60% |
H4ZE.DE vs. SXRY.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is lower than SXRY.DE's 0.33% expense ratio.
Dividends
H4ZE.DE vs. SXRY.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.36%, while SXRY.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% |
SXRY.DE iShares FTSE MIB 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 SXRY.DE have a correlation of 0.80, 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 0.33% for SXRY.DE.
H4ZE.DE tracks MSCI Europe, while SXRY.DE tracks FTSE MIB. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.10% for H4ZE.DE and 0.33% for SXRY.DE.
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