H4ZK.DE vs. VIGB.DE
H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) and VIGB.DE (VanEck iBoxx EUR Sovereign Capped AAA-AA 1-5 UCITS ETF) are both European Government Bonds funds - H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index while VIGB.DE tracks the iBoxx® EUR Liquid Sovereigns Capped 1-5. Both are passively managed. Over the past year, H4ZK.DE returned 0.79% vs -0.05% for VIGB.DE. At a 0.45 correlation, their price movements are largely independent. H4ZK.DE charges 0.14%/yr vs 0.15%/yr for VIGB.DE.
Performance
H4ZK.DE vs. VIGB.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, H4ZK.DE achieves a 0.20% return, which is significantly higher than VIGB.DE's -0.42% return.
H4ZK.DE
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.10%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
VIGB.DE
- 1D
- 0.00%
- 1M
- -0.42%
- 6M
- -1.25%
- YTD
- -0.42%
- 1Y
- -0.05%
- 3Y*
- 2.19%
- 5Y*
- -0.74%
- 10Y*
- —
H4ZK.DE vs. VIGB.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
VIGB.DE VanEck iBoxx EUR Sovereign Capped AAA-AA 1-5 UCITS ETF | -0.42% | 2.39% |
Correlation
The correlation between H4ZK.DE and VIGB.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.45 |
The correlation between H4ZK.DE and VIGB.DE shifts across timeframes, from 0.35 (1 year) to 0.45 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
H4ZK.DE vs. VIGB.DE — Risk / Return Rank
H4ZK.DE
VIGB.DE
H4ZK.DE vs. VIGB.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 VanEck iBoxx EUR Sovereign Capped AAA-AA 1-5 UCITS ETF (VIGB.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 | VIGB.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.00 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.62 | -0.02 | +0.64 |
| Martin ratioReturn relative to average drawdown | 2.06 | -0.05 | +2.11 |
Loading charts...
Drawdowns
H4ZK.DE vs. VIGB.DE - Drawdown Comparison
The maximum H4ZK.DE drawdown since its inception was -1.26%, smaller than the maximum VIGB.DE drawdown of -13.25%. Use the drawdown chart below to compare losses from any high point for H4ZK.DE and VIGB.DE.
Loading charts...
Drawdown Indicators
| H4ZK.DE | VIGB.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.26% | -13.25% | +11.99% |
Max Drawdown (1Y)Largest decline over 1 year | -1.26% | -2.73% | +1.47% |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.73% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.80% | — |
Current DrawdownCurrent decline from peak | -0.29% | -5.58% | +5.29% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -5.32% | +5.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.38% | 1.12% | -0.74% |
Volatility
H4ZK.DE vs. VIGB.DE - Volatility Comparison
The current volatility for HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) is 0.40%, while VanEck iBoxx EUR Sovereign Capped AAA-AA 1-5 UCITS ETF (VIGB.DE) has a volatility of 2.02%. This indicates that H4ZK.DE experiences smaller price fluctuations and is considered to be less risky than VIGB.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| H4ZK.DE | VIGB.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 2.02% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 1.23% | 3.99% | -2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 4.55% | -3.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.39% | 3.69% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.39% | 3.15% | -1.76% |
H4ZK.DE vs. VIGB.DE - Expense Ratio Comparison
H4ZK.DE has a 0.14% expense ratio, which is lower than VIGB.DE's 0.15% 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
H4ZK.DE vs. VIGB.DE - Dividend Comparison
H4ZK.DE has not paid dividends to shareholders, while VIGB.DE's dividend yield for the trailing twelve months is around 1.06%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VIGB.DE VanEck iBoxx EUR Sovereign Capped AAA-AA 1-5 UCITS ETF | 1.06% | 0.63% | 1.43% | 0.96% | 0.66% | 1.92% | 1.90% | 2.49% | 1.09% |
Frequently Asked Questions
H4ZK.DE and VIGB.DE have a correlation of 0.35, 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 0.15% for VIGB.DE.
H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index, while VIGB.DE tracks iBoxx® EUR Liquid Sovereigns Capped 1-5. They also come from different issuers: HSBC and VanEck. Their fees differ too: 0.14% for H4ZK.DE and 0.15% for VIGB.DE.
Find the right allocation for H4ZK.DE and VIGB.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer