H4ZF.DE vs. H41G.DE
H4ZF.DE (HSBC S&P 500 UCITS ETF USD) and H41G.DE (HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc)) are both exchange-traded funds - H4ZF.DE is a S&P 500 fund tracking the S&P 500 Index, while H41G.DE is a Global Equities fund tracking the MSCI World Small Cap SRI ESG Leaders Select. Both are passively managed. Over the past 3 years, H4ZF.DE returned 19.29%/yr vs 12.66%/yr for H41G.DE. A 0.73 correlation means they provide meaningful diversification when combined. H4ZF.DE charges 0.09%/yr vs 0.25%/yr for H41G.DE.
Performance
H4ZF.DE vs. H41G.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZF.DE achieves a 13.12% return, which is significantly lower than H41G.DE's 15.05% return.
H4ZF.DE
- 1D
- 0.24%
- 1M
- 1.49%
- 6M
- 11.84%
- YTD
- 13.12%
- 1Y
- 23.50%
- 3Y*
- 19.29%
- 5Y*
- 13.72%
- 10Y*
- 14.54%
H41G.DE
- 1D
- 0.00%
- 1M
- 1.42%
- 6M
- 10.75%
- YTD
- 15.05%
- 1Y
- 25.25%
- 3Y*
- 12.66%
- 5Y*
- —
- 10Y*
- —
H4ZF.DE vs. H41G.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4ZF.DE HSBC S&P 500 UCITS ETF USD | 13.12% | 4.74% | 32.23% | 22.66% | -5.94% |
H41G.DE HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) | 15.05% | 3.96% | 12.21% | 11.87% | -1.30% |
Correlation
The correlation between H4ZF.DE and H41G.DE is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2022 | 0.73 |
The correlation between H4ZF.DE and H41G.DE has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.
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Return for Risk
H4ZF.DE vs. H41G.DE — Risk / Return Rank
H4ZF.DE
H41G.DE
H4ZF.DE vs. H41G.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC S&P 500 UCITS ETF USD (H4ZF.DE) and HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) (H41G.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.
| H4ZF.DE | H41G.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.34 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | 3.12 | +0.14 |
| Martin ratioReturn relative to average drawdown | 11.51 | 12.19 | -0.68 |
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Drawdowns
H4ZF.DE vs. H41G.DE - Drawdown Comparison
The maximum H4ZF.DE drawdown since its inception was -33.81%, which is greater than H41G.DE's maximum drawdown of -24.84%. Use the drawdown chart below to compare losses from any high point for H4ZF.DE and H41G.DE.
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Drawdown Indicators
| H4ZF.DE | H41G.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.81% | -24.84% | -8.97% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -8.12% | +0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -23.33% | -24.84% | +1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -23.33% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.81% | — | — |
Current DrawdownCurrent decline from peak | -0.18% | -1.51% | +1.33% |
Average DrawdownAverage peak-to-trough decline | -4.01% | -4.74% | +0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 2.08% | -0.04% |
Volatility
H4ZF.DE vs. H41G.DE - Volatility Comparison
The current volatility for HSBC S&P 500 UCITS ETF USD (H4ZF.DE) is 2.79%, while HSBC MSCI World Small Cap ESG UCITS ETF USD (Acc) (H41G.DE) has a volatility of 3.77%. This indicates that H4ZF.DE experiences smaller price fluctuations and is considered to be less risky than H41G.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZF.DE | H41G.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.79% | 3.77% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 10.31% | -2.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.92% | 13.69% | -1.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.23% | 15.69% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 15.69% | +0.39% |
H4ZF.DE vs. H41G.DE - Expense Ratio Comparison
H4ZF.DE has a 0.09% expense ratio, which is lower than H41G.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
H4ZF.DE vs. H41G.DE - Dividend Comparison
H4ZF.DE's dividend yield for the trailing twelve months is around 0.81%, while H41G.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H41G.DE HSBC MSCI World Small Cap ESG UCITS ETF USD (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% |
H4ZF.DE HSBC S&P 500 UCITS ETF USD | 0.81% | 0.95% | 0.96% | 1.19% | 1.34% | 0.92% | 1.44% | 1.39% | 1.62% | 1.55% | 1.59% | 1.61% |
Frequently Asked Questions
H4ZF.DE and H41G.DE have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZF.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZF.DE is cheaper with a 0.09% expense ratio, compared with 0.25% for H41G.DE.
H4ZF.DE is categorized as S&P 500, while H41G.DE is Global Equities. H4ZF.DE tracks S&P 500 Index, while H41G.DE tracks MSCI World Small Cap SRI ESG Leaders Select. Their fees differ too: 0.09% for H4ZF.DE and 0.25% for H41G.DE.
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