H4ZJ.DE vs. UETW.DE
H4ZJ.DE (HSBC MSCI World UCITS ETF USD) and UETW.DE (UBS ETF (IE) MSCI World UCITS ETF (USD) Acc) are both Global Equities funds tracking the MSCI World, from HSBC and UBS respectively. Both are passively managed. Over the past 5 years, H4ZJ.DE returned 12.21%/yr vs 12.32%/yr for UETW.DE. With a 0.99 correlation, they move nearly in lockstep. H4ZJ.DE charges 0.15%/yr vs 0.10%/yr for UETW.DE.
Performance
H4ZJ.DE vs. UETW.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with H4ZJ.DE having a 12.98% return and UETW.DE slightly higher at 13.14%.
H4ZJ.DE
- 1D
- 0.16%
- 1M
- 1.59%
- 6M
- 10.74%
- YTD
- 12.98%
- 1Y
- 23.82%
- 3Y*
- 18.08%
- 5Y*
- 12.21%
- 10Y*
- 12.53%
UETW.DE
- 1D
- 0.23%
- 1M
- 1.71%
- 6M
- 11.32%
- YTD
- 13.14%
- 1Y
- 24.05%
- 3Y*
- 18.31%
- 5Y*
- 12.32%
- 10Y*
- —
H4ZJ.DE vs. UETW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 12.98% | 7.95% | 25.68% | 20.11% | -13.93% | 32.79% | 5.51% | 14.50% |
UETW.DE UBS ETF (IE) MSCI World UCITS ETF (USD) Acc | 13.14% | 8.05% | 26.48% | 19.71% | -13.72% | 32.19% | 5.49% | 0.11% |
Correlation
The correlation between H4ZJ.DE and UETW.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 | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2019 | 0.99 |
The correlation between H4ZJ.DE and UETW.DE has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
H4ZJ.DE vs. UETW.DE — Risk / Return Rank
H4ZJ.DE
UETW.DE
H4ZJ.DE vs. UETW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World UCITS ETF USD (H4ZJ.DE) and UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.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.
| H4ZJ.DE | UETW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.81 | 3.59 | +0.22 |
| Martin ratioReturn relative to average drawdown | 15.44 | 14.06 | +1.38 |
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Drawdowns
H4ZJ.DE vs. UETW.DE - Drawdown Comparison
The maximum H4ZJ.DE drawdown since its inception was -33.63%, roughly equal to the maximum UETW.DE drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for H4ZJ.DE and UETW.DE.
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Drawdown Indicators
| H4ZJ.DE | UETW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.63% | -33.74% | +0.11% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -6.67% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -21.64% | -21.32% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -21.64% | -21.32% | -0.32% |
Max Drawdown (10Y)Largest decline over 10 years | -33.63% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -4.44% | -4.97% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.54% | 1.71% | -0.17% |
Volatility
H4ZJ.DE vs. UETW.DE - Volatility Comparison
HSBC MSCI World UCITS ETF USD (H4ZJ.DE) and UBS ETF (IE) MSCI World UCITS ETF (USD) Acc (UETW.DE) have volatilities of 2.46% and 2.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZJ.DE | UETW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.46% | 2.37% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.97% | 7.92% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.34% | 11.21% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.16% | 14.06% | +0.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.97% | 16.55% | -1.58% |
H4ZJ.DE vs. UETW.DE - Expense Ratio Comparison
H4ZJ.DE has a 0.15% expense ratio, which is higher than UETW.DE's 0.10% 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
H4ZJ.DE vs. UETW.DE - Dividend Comparison
H4ZJ.DE's dividend yield for the trailing twelve months is around 1.14%, while UETW.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 1.14% | 1.25% | 1.20% | 1.38% | 1.58% | 1.07% | 1.36% | 1.64% | 1.86% | 1.67% | 1.65% | 1.63% |
UETW.DE UBS ETF (IE) MSCI World 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% |
Frequently Asked Questions
With a correlation of 0.98, H4ZJ.DE and UETW.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, UETW.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
UETW.DE is cheaper with a 0.10% expense ratio, compared with 0.15% for H4ZJ.DE.
Both ETFs track MSCI World. They also come from different issuers: HSBC and UBS. Their fees differ too: 0.15% for H4ZJ.DE and 0.10% for UETW.DE.
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