H4ZL.DE vs. EXI5.DE
H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) and EXI5.DE (iShares STOXX Europe 600 Real Estate UCITS ETF (DE)) are both REIT funds - H4ZL.DE tracks the FTSE EPRA/NAREIT Developed while EXI5.DE tracks the STOXX® Europe 600 Real Estate. Both are passively managed. Over the past 10 years, H4ZL.DE returned 2.35%/yr vs -1.04%/yr for EXI5.DE. A 0.64 correlation means they provide meaningful diversification when combined. H4ZL.DE charges 0.24%/yr vs 0.46%/yr for EXI5.DE.
Performance
H4ZL.DE vs. EXI5.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 EXI5.DE's -0.40% return. Over the past 10 years, H4ZL.DE has outperformed EXI5.DE with an annualized return of 2.35%, while EXI5.DE has yielded a comparatively lower -1.04% 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%
EXI5.DE
- 1D
- 0.83%
- 1M
- -2.70%
- YTD
- -0.40%
- 6M
- 0.52%
- 1Y
- -4.69%
- 3Y*
- 6.81%
- 5Y*
- -4.96%
- 10Y*
- -1.04%
H4ZL.DE vs. EXI5.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% |
EXI5.DE iShares STOXX Europe 600 Real Estate UCITS ETF (DE) | -0.40% | 3.76% | -4.15% | 17.26% | -37.90% | 16.10% | -8.71% | 27.58% | -10.93% | 10.25% |
Correlation
The correlation between H4ZL.DE and EXI5.DE is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.64 |
The correlation between H4ZL.DE and EXI5.DE has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.
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Return for Risk
H4ZL.DE vs. EXI5.DE — Risk / Return Rank
H4ZL.DE
EXI5.DE
H4ZL.DE vs. EXI5.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 STOXX Europe 600 Real Estate UCITS ETF (DE) (EXI5.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 | EXI5.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.90 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.96 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.32 | +1.16 |
| Martin ratioReturn relative to average drawdown | 2.48 | -0.75 | +3.23 |
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 | EXI5.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | -0.31 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | -0.22 | +0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | -0.05 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.29 | -0.02 | +0.31 |
Drawdowns
H4ZL.DE vs. EXI5.DE - Drawdown Comparison
The maximum H4ZL.DE drawdown since its inception was -41.97%, smaller than the maximum EXI5.DE drawdown of -77.04%. Use the drawdown chart below to compare losses from any high point for H4ZL.DE and EXI5.DE.
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Drawdown Indicators
| H4ZL.DE | EXI5.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.97% | -77.04% | +35.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.82% | -15.30% | +7.48% |
Max Drawdown (3Y)Largest decline over 3 years | -20.68% | -21.03% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -30.45% | -48.08% | +17.63% |
Max Drawdown (10Y)Largest decline over 10 years | -41.97% | -48.08% | +6.11% |
Current DrawdownCurrent decline from peak | -13.81% | -29.97% | +16.16% |
Average DrawdownAverage peak-to-trough decline | -10.80% | -30.50% | +19.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 6.50% | -3.83% |
Volatility
H4ZL.DE vs. EXI5.DE - Volatility Comparison
The current volatility for HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) is 2.88%, while iShares STOXX Europe 600 Real Estate UCITS ETF (DE) (EXI5.DE) has a volatility of 4.75%. This indicates that H4ZL.DE experiences smaller price fluctuations and is considered to be less risky than EXI5.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 | EXI5.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.88% | 4.75% | -1.87% |
Volatility (6M)Calculated over the trailing 6-month period | 8.34% | 13.25% | -4.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.21% | 15.90% | -4.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.69% | 22.21% | -7.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.27% | 20.28% | -4.01% |
H4ZL.DE vs. EXI5.DE - Expense Ratio Comparison
H4ZL.DE has a 0.24% expense ratio, which is lower than EXI5.DE's 0.46% expense ratio.
Dividends
H4ZL.DE vs. EXI5.DE - Dividend Comparison
H4ZL.DE has not paid dividends to shareholders, while EXI5.DE's dividend yield for the trailing twelve months is around 2.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXI5.DE iShares STOXX Europe 600 Real Estate UCITS ETF (DE) | 2.13% | 2.02% | 1.82% | 2.05% | 2.19% | 0.93% | 1.30% | 2.10% | 2.15% | 3.10% | 2.80% | 2.65% |
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 EXI5.DE have a correlation of 0.64, 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 0.46% for EXI5.DE.
H4ZL.DE tracks FTSE EPRA/NAREIT Developed, while EXI5.DE tracks STOXX® Europe 600 Real Estate. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.24% for H4ZL.DE and 0.46% for EXI5.DE.
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