H4ZE.DE vs. ZPRL.DE
H4ZE.DE (HSBC MSCI Europe UCITS ETF EUR) and ZPRL.DE (SPDR EURO STOXX Low Volatility UCITS ETF) are both Europe Equities funds - H4ZE.DE tracks the MSCI Europe while ZPRL.DE tracks the EURO STOXX® Low Risk Weighted 100. Both are passively managed. Over the past 10 years, H4ZE.DE returned 9.41%/yr vs 6.55%/yr for ZPRL.DE. Their correlation of 0.86 suggests significant overlap in exposure. H4ZE.DE charges 0.10%/yr vs 0.30%/yr for ZPRL.DE.
Performance
H4ZE.DE vs. ZPRL.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 higher than ZPRL.DE's 5.19% return. Over the past 10 years, H4ZE.DE has outperformed ZPRL.DE with an annualized return of 9.41%, while ZPRL.DE has yielded a comparatively lower 6.55% 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%
ZPRL.DE
- 1D
- 0.22%
- 1M
- -1.72%
- YTD
- 5.19%
- 6M
- 6.76%
- 1Y
- 5.48%
- 3Y*
- 11.19%
- 5Y*
- 7.05%
- 10Y*
- 6.55%
H4ZE.DE vs. ZPRL.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% |
ZPRL.DE SPDR EURO STOXX Low Volatility UCITS ETF | 5.19% | 18.48% | 7.41% | 12.34% | -14.65% | 17.34% | -5.25% | 22.05% | -8.17% | 15.38% |
Correlation
The correlation between H4ZE.DE and ZPRL.DE is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 26, 2014 | 0.86 |
The correlation between H4ZE.DE and ZPRL.DE shifts across timeframes, from 0.74 (1 year) to 0.87 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
H4ZE.DE vs. ZPRL.DE — Risk / Return Rank
H4ZE.DE
ZPRL.DE
H4ZE.DE vs. ZPRL.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 SPDR EURO STOXX Low Volatility UCITS ETF (ZPRL.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 | ZPRL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.11 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 0.72 | +0.97 |
| Martin ratioReturn relative to average drawdown | 6.20 | 2.02 | +4.18 |
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 | ZPRL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.22 | 0.62 | +0.61 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.59 | +0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | 0.48 | +0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.53 | -0.03 |
Drawdowns
H4ZE.DE vs. ZPRL.DE - Drawdown Comparison
The maximum H4ZE.DE drawdown since its inception was -35.52%, roughly equal to the maximum ZPRL.DE drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for H4ZE.DE and ZPRL.DE.
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Drawdown Indicators
| H4ZE.DE | ZPRL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.52% | -35.35% | -0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.43% | -7.97% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -9.37% | -7.12% |
Max Drawdown (5Y)Largest decline over 5 years | -19.17% | -23.37% | +4.20% |
Max Drawdown (10Y)Largest decline over 10 years | -35.52% | -35.35% | -0.17% |
Current DrawdownCurrent decline from peak | -2.04% | -3.70% | +1.66% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -5.39% | -0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.84% | -0.27% |
Volatility
H4ZE.DE vs. ZPRL.DE - Volatility Comparison
HSBC MSCI Europe UCITS ETF EUR (H4ZE.DE) has a higher volatility of 4.57% compared to SPDR EURO STOXX Low Volatility UCITS ETF (ZPRL.DE) at 2.90%. This indicates that H4ZE.DE's price experiences larger fluctuations and is considered to be riskier than ZPRL.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 | ZPRL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 2.90% | +1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.73% | 7.65% | +3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 9.22% | +3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.28% | 11.89% | +2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.49% | 13.60% | +1.89% |
H4ZE.DE vs. ZPRL.DE - Expense Ratio Comparison
H4ZE.DE has a 0.10% expense ratio, which is lower than ZPRL.DE's 0.30% expense ratio.
Dividends
H4ZE.DE vs. ZPRL.DE - Dividend Comparison
H4ZE.DE's dividend yield for the trailing twelve months is around 2.43%, while ZPRL.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% |
ZPRL.DE SPDR EURO STOXX Low Volatility 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
H4ZE.DE and ZPRL.DE have a correlation of 0.74, 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 0.30% for ZPRL.DE.
H4ZE.DE tracks MSCI Europe, while ZPRL.DE tracks EURO STOXX® Low Risk Weighted 100. They also come from different issuers: HSBC and State Street. Their fees differ too: 0.10% for H4ZE.DE and 0.30% for ZPRL.DE.
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