H4ZL.DE vs. EUNW.DE
H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) and EUNW.DE (iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist)) are both exchange-traded funds - H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed, while EUNW.DE is a European High Yield Bonds fund tracking the iBoxx® EUR Liquid High Yield. Both are passively managed. Over the past 10 years, H4ZL.DE returned 2.35%/yr vs 3.10%/yr for EUNW.DE. At a 0.45 correlation, their price movements are largely independent. H4ZL.DE charges 0.24%/yr vs 0.50%/yr for EUNW.DE.
Performance
H4ZL.DE vs. EUNW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZL.DE achieves a 6.32% return, which is significantly higher than EUNW.DE's 0.85% return. Over the past 10 years, H4ZL.DE has underperformed EUNW.DE with an annualized return of 2.35%, while EUNW.DE has yielded a comparatively higher 3.10% annualized return.
H4ZL.DE
- 1D
- -0.02%
- 1M
- -2.45%
- YTD
- 6.32%
- 6M
- 5.97%
- 1Y
- 6.50%
- 3Y*
- 3.13%
- 5Y*
- 0.30%
- 10Y*
- 2.35%
EUNW.DE
- 1D
- 0.05%
- 1M
- 0.46%
- YTD
- 0.85%
- 6M
- 1.40%
- 1Y
- 3.33%
- 3Y*
- 6.32%
- 5Y*
- 2.68%
- 10Y*
- 3.10%
H4ZL.DE vs. EUNW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 6.32% | -4.65% | 2.27% | 6.12% | -20.22% | 36.90% | -16.99% | 23.91% | -0.81% | -2.27% |
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 0.85% | 5.00% | 5.90% | 11.26% | -9.36% | 2.93% | 1.06% | 9.87% | -3.52% | 4.59% |
Correlation
The correlation between H4ZL.DE and EUNW.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2014 | 0.45 |
The correlation between H4ZL.DE and EUNW.DE shifts across timeframes, from 0.38 (1 year) to 0.51 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
H4ZL.DE vs. EUNW.DE — Risk / Return Rank
H4ZL.DE
EUNW.DE
H4ZL.DE vs. EUNW.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 EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.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.DE | EUNW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.19 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 1.12 | -0.28 |
| Martin ratioReturn relative to average drawdown | 2.48 | 4.73 | -2.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| H4ZL.DE | EUNW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 0.96 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.50 | -0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 0.47 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | 0.47 | -0.18 |
Drawdowns
H4ZL.DE vs. EUNW.DE - Drawdown Comparison
The maximum H4ZL.DE drawdown since its inception was -41.97%, which is greater than EUNW.DE's maximum drawdown of -25.47%. Use the drawdown chart below to compare losses from any high point for H4ZL.DE and EUNW.DE.
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Drawdown Indicators
| H4ZL.DE | EUNW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.97% | -25.47% | -16.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -2.83% | -4.99% |
Max Drawdown (3Y)Largest decline over 3 years | -20.68% | -3.80% | -16.88% |
Max Drawdown (5Y)Largest decline over 5 years | -30.45% | -14.79% | -15.66% |
Max Drawdown (10Y)Largest decline over 10 years | -41.97% | -25.47% | -16.50% |
Current DrawdownCurrent decline from peak | -13.81% | -0.10% | -13.71% |
Average DrawdownAverage peak-to-trough decline | -10.80% | -2.31% | -8.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 0.67% | +2.00% |
Volatility
H4ZL.DE vs. EUNW.DE - Volatility Comparison
HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) has a higher volatility of 2.88% compared to iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) (EUNW.DE) at 0.79%. This indicates that H4ZL.DE's price experiences larger fluctuations and is considered to be riskier than EUNW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZL.DE | EUNW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 0.79% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 8.34% | 2.86% | +5.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.21% | 3.30% | +7.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 5.25% | +9.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.27% | 6.58% | +9.69% |
H4ZL.DE vs. EUNW.DE - Expense Ratio Comparison
H4ZL.DE has a 0.24% expense ratio, which is lower than EUNW.DE's 0.50% expense ratio.
Dividends
H4ZL.DE vs. EUNW.DE - Dividend Comparison
H4ZL.DE has not paid dividends to shareholders, while EUNW.DE's dividend yield for the trailing twelve months is around 5.17%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EUNW.DE iShares EUR High Yield Corporate Bond UCITS ETF EUR (Dist) | 5.17% | 5.45% | 6.09% | 5.41% | 3.70% | 3.07% | 3.67% | 3.75% | 3.68% | 3.78% | 4.03% | 4.59% |
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% |
Frequently Asked Questions
H4ZL.DE and EUNW.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZL.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZL.DE is cheaper with a 0.24% expense ratio, compared with 0.50% for EUNW.DE.
H4ZL.DE is categorized as REIT, while EUNW.DE is European High Yield Bonds. H4ZL.DE tracks FTSE EPRA/NAREIT Developed, while EUNW.DE tracks iBoxx® EUR Liquid High Yield. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.24% for H4ZL.DE and 0.50% for EUNW.DE.
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