H4ZK.DE vs. PRAR.DE
H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) and PRAR.DE (Amundi Prime Euro Govies UCITS ETF) are both European Government Bonds funds - H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index while PRAR.DE tracks the Solactive Eurozone Government Bond. Both are passively managed. Over the past year, H4ZK.DE returned 0.74% vs 0.22% for PRAR.DE. At a 0.50 correlation, their price movements are largely independent. H4ZK.DE charges 0.14%/yr vs 0.05%/yr for PRAR.DE.
Performance
H4ZK.DE vs. PRAR.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 PRAR.DE's -0.17% return.
H4ZK.DE
- 1D
- -0.05%
- 1M
- -0.15%
- 6M
- 0.05%
- YTD
- 0.15%
- 1Y
- 0.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PRAR.DE
- 1D
- -0.06%
- 1M
- -0.88%
- 6M
- -0.66%
- YTD
- -0.17%
- 1Y
- 0.22%
- 3Y*
- 2.35%
- 5Y*
- -2.57%
- 10Y*
- —
H4ZK.DE vs. PRAR.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% |
PRAR.DE Amundi Prime Euro Govies UCITS ETF | -0.17% | 1.52% |
Correlation
The correlation between H4ZK.DE and PRAR.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.50 |
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Return for Risk
H4ZK.DE vs. PRAR.DE — Risk / Return Rank
H4ZK.DE
PRAR.DE
H4ZK.DE vs. PRAR.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 Govies UCITS ETF (PRAR.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 | PRAR.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.01 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | 0.06 | +0.52 |
| Martin ratioReturn relative to average drawdown | 1.93 | 0.15 | +1.78 |
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Drawdowns
H4ZK.DE vs. PRAR.DE - Drawdown Comparison
The maximum H4ZK.DE drawdown since its inception was -1.26%, smaller than the maximum PRAR.DE drawdown of -22.33%. Use the drawdown chart below to compare losses from any high point for H4ZK.DE and PRAR.DE.
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Drawdown Indicators
| H4ZK.DE | PRAR.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.26% | -22.33% | +21.07% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -3.53% | +2.27% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.00% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.47% | — |
Current DrawdownCurrent decline from peak | -0.34% | -14.17% | +13.83% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -11.61% | +11.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 1.45% | -1.07% |
Volatility
H4ZK.DE vs. PRAR.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 Amundi Prime Euro Govies UCITS ETF (PRAR.DE) has a volatility of 1.22%. This indicates that H4ZK.DE experiences smaller price fluctuations and is considered to be less risky than PRAR.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 | PRAR.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 1.22% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 1.23% | 3.76% | -2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 4.46% | -3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.40% | 6.24% | -4.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.40% | 5.91% | -4.51% |
H4ZK.DE vs. PRAR.DE - Expense Ratio Comparison
H4ZK.DE has a 0.14% expense ratio, which is higher than PRAR.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. PRAR.DE - Dividend Comparison
Neither H4ZK.DE nor PRAR.DE has paid dividends to shareholders.
Frequently Asked Questions
H4ZK.DE and PRAR.DE have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PRAR.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PRAR.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 PRAR.DE tracks Solactive Eurozone Government Bond. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.14% for H4ZK.DE and 0.05% for PRAR.DE.
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