H4ZK.DE vs. H4ZX.DE
H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) and H4ZX.DE (HSBC Hang Seng TECH UCITS ETF HKD) are both exchange-traded funds - H4ZK.DE is a European Government Bonds fund tracking the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index, while H4ZX.DE is a Technology Equities fund tracking the Hang Seng TECH. Both are passively managed. Over the past year, H4ZK.DE returned 0.74% vs -11.89% for H4ZX.DE. At a 0.07 correlation, their price movements are largely independent. H4ZK.DE charges 0.14%/yr vs 0.50%/yr for H4ZX.DE.
Performance
H4ZK.DE vs. H4ZX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZK.DE achieves a 0.15% return, which is significantly higher than H4ZX.DE's -14.05% return.
H4ZK.DE
- 1D
- -0.05%
- 1M
- -0.15%
- 6M
- 0.05%
- YTD
- 0.15%
- 1Y
- 0.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
H4ZX.DE
- 1D
- 0.00%
- 1M
- -0.49%
- 6M
- -18.85%
- YTD
- -14.05%
- 1Y
- -11.89%
- 3Y*
- 3.61%
- 5Y*
- -8.36%
- 10Y*
- —
H4ZK.DE vs. H4ZX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.15% | 2.30% |
H4ZX.DE HSBC Hang Seng TECH UCITS ETF HKD | -14.05% | 2.88% |
Correlation
The correlation between H4ZK.DE and H4ZX.DE is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.07 |
The correlation between H4ZK.DE and H4ZX.DE shifts across timeframes, from 0.07 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
H4ZK.DE vs. H4ZX.DE — Risk / Return Rank
H4ZK.DE
H4ZX.DE
H4ZK.DE vs. H4ZX.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) and HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.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.
| H4ZK.DE | H4ZX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +1.23 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.95 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | -0.36 | +0.94 |
| Martin ratioReturn relative to average drawdown | 1.93 | -0.62 | +2.55 |
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Drawdowns
H4ZK.DE vs. H4ZX.DE - Drawdown Comparison
The maximum H4ZK.DE drawdown since its inception was -1.26%, smaller than the maximum H4ZX.DE drawdown of -69.32%. Use the drawdown chart below to compare losses from any high point for H4ZK.DE and H4ZX.DE.
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Drawdown Indicators
| H4ZK.DE | H4ZX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.26% | -69.32% | +68.06% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -33.58% | +32.32% |
Max Drawdown (3Y)Largest decline over 3 years | — | -33.58% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -56.66% | — |
Current DrawdownCurrent decline from peak | -0.34% | -54.26% | +53.92% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -49.93% | +49.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 19.30% | -18.92% |
Volatility
H4ZK.DE vs. H4ZX.DE - Volatility Comparison
The current volatility for HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) is 0.41%, while HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.DE) has a volatility of 7.58%. This indicates that H4ZK.DE experiences smaller price fluctuations and is considered to be less risky than H4ZX.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZK.DE | H4ZX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 7.58% | -7.17% |
Volatility (6M)Calculated over the trailing 6-month period | 1.23% | 19.60% | -18.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 27.05% | -25.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.40% | 37.92% | -36.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.40% | 37.47% | -36.07% |
H4ZK.DE vs. H4ZX.DE - Expense Ratio Comparison
H4ZK.DE has a 0.14% expense ratio, which is lower than H4ZX.DE's 0.50% expense ratio.
Dividends
H4ZK.DE vs. H4ZX.DE - Dividend Comparison
Neither H4ZK.DE nor H4ZX.DE has paid dividends to shareholders.
Frequently Asked Questions
H4ZK.DE and H4ZX.DE have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZK.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZK.DE is cheaper with a 0.14% expense ratio, compared with 0.50% for H4ZX.DE.
H4ZK.DE is categorized as European Government Bonds, while H4ZX.DE is Technology Equities. H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index, while H4ZX.DE tracks Hang Seng TECH. Their fees differ too: 0.14% for H4ZK.DE and 0.50% for H4ZX.DE.
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