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H4ZL.DE vs. AYEP.DE
Performance
Return for Risk
Dividends
Drawdowns
Volatility

H4ZL.DE vs. AYEP.DE

Last updated Apr 2, 2026

Compare and contrast key facts about HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) and iShares Asia Property Yield UCITS ETF USD Acc (AYEP.DE).

H4ZL.DE and AYEP.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. H4ZL.DE is a passively managed fund by HSBC that tracks the performance of the FTSE EPRA/NAREIT Developed. It was launched on Jun 20, 2011. AYEP.DE is a passively managed fund by iShares that tracks the performance of the FTSE EPRA/NAREIT Developed Asia Dividend+. It was launched on Dec 12, 2018. Both H4ZL.DE and AYEP.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

H4ZL.DE vs. AYEP.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) and iShares Asia Property Yield UCITS ETF USD Acc (AYEP.DE). The values are adjusted to include any dividend payments, if applicable.

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H4ZL.DE vs. AYEP.DE - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
H4ZL.DE
HSBC FTSE EPRA NAREIT Developed UCITS ETF USD		2.63%-4.65%2.27%6.12%-20.22%36.90%-16.99%23.91%-6.13%
AYEP.DE
iShares Asia Property Yield UCITS ETF USD Acc		-1.05%15.89%-4.24%-5.46%-7.48%13.37%-16.64%19.27%-2.92%

Returns By Period

In the year-to-date period, H4ZL.DE achieves a 2.63% return, which is significantly higher than AYEP.DE's -1.05% return.

H4ZL.DE

1D
0.90%
1M
-6.17%
YTD
2.63%
6M
1.01%
1Y
-0.64%
3Y*
2.60%
5Y*
0.73%
10Y*
2.17%

AYEP.DE

1D
1.56%
1M
-7.26%
YTD
-1.05%
6M
0.73%
1Y
10.18%
3Y*
2.07%
5Y*
-0.20%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

HSBC FTSE EPRA NAREIT Developed UCITS ETF USD

iShares Asia Property Yield UCITS ETF USD Acc

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Often compared with AYEP.DE:
AYEP.DE vs. AYEM.DEAYEP.DE vs. DFARAYEP.DE vs. AVREAYEP.DE vs. IPRP.LAYEP.DE vs. VNQAYEP.DE vs. IDEVAYEP.DE vs. VPADX

H4ZL.DE vs. AYEP.DE - Expense Ratio Comparison

H4ZL.DE has a 0.24% expense ratio, which is lower than AYEP.DE's 0.59% expense ratio.

AYEP.DE
iShares Asia Property Yield UCITS ETF USD Acc
H4ZL.DE
HSBC FTSE EPRA NAREIT Developed UCITS ETF USD

Return for Risk

H4ZL.DE vs. AYEP.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
H4ZL.DE
H4ZL.DE Risk / Return Rank: 1010
Overall Rank
H4ZL.DE Sharpe Ratio Rank: 1111
Sharpe Ratio Rank
H4ZL.DE Sortino Ratio Rank: 1010
Sortino Ratio Rank
H4ZL.DE Omega Ratio Rank: 1010
Omega Ratio Rank
H4ZL.DE Calmar Ratio Rank: 1111
Calmar Ratio Rank
H4ZL.DE Martin Ratio Rank: 1010
Martin Ratio Rank
AYEP.DE
AYEP.DE Risk / Return Rank: 4141
Overall Rank
AYEP.DE Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
AYEP.DE Sortino Ratio Rank: 4141
Sortino Ratio Rank
AYEP.DE Omega Ratio Rank: 3737
Omega Ratio Rank
AYEP.DE Calmar Ratio Rank: 4040
Calmar Ratio Rank
AYEP.DE Martin Ratio Rank: 4444
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

H4ZL.DE vs. AYEP.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) and iShares Asia Property Yield UCITS ETF USD Acc (AYEP.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.

H4ZL.DEAYEP.DEDifference

Sharpe ratio

Return per unit of total volatility

-0.04

0.87

-0.92

Sortino ratio

Return per unit of downside risk

0.04

1.23

-1.19

Omega ratio

Gain probability vs. loss probability

1.01

1.16

-0.15

Calmar ratio

Return relative to maximum drawdown

-0.03

1.13

-1.16

Martin ratio

Return relative to average drawdown

-0.11

4.61

-4.71

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4ZL.DE vs. AYEP.DE - Sharpe Ratio Comparison

The current H4ZL.DE Sharpe Ratio is -0.04, which is lower than the AYEP.DE Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of H4ZL.DE and AYEP.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

H4ZL.DEAYEP.DEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.04

0.87

-0.92

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.05

-0.02

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.13

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.28

0.04

+0.23

Correlation

The correlation between H4ZL.DE and AYEP.DE is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

H4ZL.DE vs. AYEP.DE - Dividend Comparison

Neither H4ZL.DE nor AYEP.DE has paid dividends to shareholders.

TTM20252024202320222021202020192018201720162015
H4ZL.DE
HSBC FTSE EPRA NAREIT Developed UCITS ETF USD		0.00%0.00%0.00%2.63%3.62%2.19%3.13%2.95%3.29%3.08%2.96%2.67%
AYEP.DE
iShares Asia Property Yield 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%

Drawdowns

H4ZL.DE vs. AYEP.DE - Drawdown Comparison

The maximum H4ZL.DE drawdown since its inception was -41.97%, which is greater than AYEP.DE's maximum drawdown of -38.46%. Use the drawdown chart below to compare losses from any high point for H4ZL.DE and AYEP.DE.

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Drawdown Indicators

H4ZL.DEAYEP.DEDifference

Max Drawdown

Largest peak-to-trough decline

-41.97%

-38.46%

-3.51%

Max Drawdown (1Y)

Largest decline over 1 year

-13.13%

-9.99%

-3.14%

Max Drawdown (5Y)

Largest decline over 5 years

-30.45%

-22.65%

-7.80%

Max Drawdown (10Y)

Largest decline over 10 years

-41.97%

—

—

Current Drawdown

Current decline from peak

-16.80%

-12.92%

-3.88%

Average Drawdown

Average peak-to-trough decline

-10.77%

-15.08%

+4.31%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.00%

2.44%

+0.56%

Volatility

H4ZL.DE vs. AYEP.DE - Volatility Comparison

HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) and iShares Asia Property Yield UCITS ETF USD Acc (AYEP.DE) have volatilities of 4.34% and 4.23%, 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

H4ZL.DEAYEP.DEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.34%

4.23%

+0.11%

Volatility (6M)

Calculated over the trailing 6-month period

7.99%

7.94%

+0.05%

Volatility (1Y)

Calculated over the trailing 1-year period

14.66%

11.66%

+3.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.67%

11.61%

+3.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.28%

15.48%

+0.80%