H4ZK.DE vs. PRAB.DE
H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) and PRAB.DE (Amundi Prime Euro Government Bonds 0-1Y UCITS ETF) are both European Government Bonds funds - H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index while PRAB.DE tracks the Solactive Eurozone Government Bond 0-1 Year. Both are passively managed. Over the past year, H4ZK.DE returned 0.74% vs 1.94% for PRAB.DE. At a 0.12 correlation, their price movements are largely independent. H4ZK.DE charges 0.14%/yr vs 0.05%/yr for PRAB.DE.
Performance
H4ZK.DE vs. PRAB.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 lower than PRAB.DE's 1.08% return.
H4ZK.DE
- 1D
- -0.05%
- 1M
- -0.15%
- 6M
- 0.05%
- YTD
- 0.15%
- 1Y
- 0.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRAB.DE
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 0.98%
- YTD
- 1.08%
- 1Y
- 1.94%
- 3Y*
- 2.85%
- 5Y*
- 1.71%
- 10Y*
- —
H4ZK.DE vs. PRAB.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% |
PRAB.DE Amundi Prime Euro Government Bonds 0-1Y UCITS ETF | 1.08% | 1.99% |
Correlation
The correlation between H4ZK.DE and PRAB.DE is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.12 |
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Return for Risk
H4ZK.DE vs. PRAB.DE — Risk / Return Rank
H4ZK.DE
PRAB.DE
H4ZK.DE vs. PRAB.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 Amundi Prime Euro Government Bonds 0-1Y UCITS ETF (PRAB.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 | PRAB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.53 | ||
| Sortino ratioReturn per unit of downside risk | -4.09 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.65 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 10.94 | -10.36 |
| Martin ratioReturn relative to average drawdown | 1.93 | 51.48 | -49.55 |
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Drawdowns
H4ZK.DE vs. PRAB.DE - Drawdown Comparison
The maximum H4ZK.DE drawdown since its inception was -1.26%, smaller than the maximum PRAB.DE drawdown of -1.67%. Use the drawdown chart below to compare losses from any high point for H4ZK.DE and PRAB.DE.
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Drawdown Indicators
| H4ZK.DE | PRAB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.26% | -1.67% | +0.41% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -0.18% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | — | -0.18% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -1.29% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.00% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.39% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 0.04% | +0.34% |
Volatility
H4ZK.DE vs. PRAB.DE - Volatility Comparison
HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) has a higher volatility of 0.41% compared to Amundi Prime Euro Government Bonds 0-1Y UCITS ETF (PRAB.DE) at 0.13%. This indicates that H4ZK.DE's price experiences larger fluctuations and is considered to be riskier than PRAB.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 | PRAB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.13% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 1.23% | 0.55% | +0.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 0.63% | +0.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.40% | 0.55% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.40% | 0.53% | +0.87% |
H4ZK.DE vs. PRAB.DE - Expense Ratio Comparison
H4ZK.DE has a 0.14% expense ratio, which is higher than PRAB.DE's 0.05% 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
H4ZK.DE vs. PRAB.DE - Dividend Comparison
Neither H4ZK.DE nor PRAB.DE has paid dividends to shareholders.
Frequently Asked Questions
H4ZK.DE and PRAB.DE have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PRAB.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRAB.DE is cheaper with a 0.05% expense ratio, compared with 0.14% for H4ZK.DE.
H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index, while PRAB.DE tracks Solactive Eurozone Government Bond 0-1 Year. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.14% for H4ZK.DE and 0.05% for PRAB.DE.
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