H4ZL.DE vs. VGWD.DE
H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) and VGWD.DE (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing) are both exchange-traded funds - H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed, while VGWD.DE is a Dividend fund tracking the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 3 years, H4ZL.DE returned 8.40%/yr vs 17.45%/yr for VGWD.DE. A 0.65 correlation means they provide meaningful diversification when combined. H4ZL.DE charges 0.24%/yr vs 0.29%/yr for VGWD.DE.
Performance
H4ZL.DE vs. VGWD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZL.DE achieves a 13.70% return, which is significantly lower than VGWD.DE's 16.14% return.
H4ZL.DE
- 1D
- 0.05%
- 1M
- 2.05%
- 6M
- 10.58%
- YTD
- 13.70%
- 1Y
- 17.30%
- 3Y*
- 8.40%
- 5Y*
- —
- 10Y*
- —
VGWD.DE
- 1D
- -0.16%
- 1M
- 1.80%
- 6M
- 12.06%
- YTD
- 16.14%
- 1Y
- 28.45%
- 3Y*
- 17.45%
- 5Y*
- 12.22%
- 10Y*
- —
H4ZL.DE vs. VGWD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 13.70% | -1.48% | 5.75% | 6.44% |
VGWD.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 16.14% | 13.16% | 15.75% | 7.29% |
Correlation
The correlation between H4ZL.DE and VGWD.DE is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2023 | 0.65 |
The correlation between H4ZL.DE and VGWD.DE has been stable across timeframes, ranging from 0.60 to 0.65 - a consistent structural relationship.
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Return for Risk
H4ZL.DE vs. VGWD.DE — Risk / Return Rank
H4ZL.DE
VGWD.DE
H4ZL.DE vs. VGWD.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 Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VGWD.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.
| H4ZL.DE | VGWD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.57 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 4.87 | -2.66 |
| Martin ratioReturn relative to average drawdown | 7.68 | 19.21 | -11.53 |
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Drawdowns
H4ZL.DE vs. VGWD.DE - Drawdown Comparison
The maximum H4ZL.DE drawdown since its inception was -20.11%, smaller than the maximum VGWD.DE drawdown of -34.57%. Use the drawdown chart below to compare losses from any high point for H4ZL.DE and VGWD.DE.
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Drawdown Indicators
| H4ZL.DE | VGWD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.11% | -34.57% | +14.46% |
Max Drawdown (1Y)Largest decline over 1 year | -7.84% | -5.82% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -20.11% | -16.86% | -3.25% |
Max Drawdown (5Y)Largest decline over 5 years | — | -16.86% | — |
Current DrawdownCurrent decline from peak | -0.93% | -0.23% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -4.00% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 1.48% | +0.77% |
Volatility
H4ZL.DE vs. VGWD.DE - Volatility Comparison
HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) has a higher volatility of 3.21% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing (VGWD.DE) at 1.80%. This indicates that H4ZL.DE's price experiences larger fluctuations and is considered to be riskier than VGWD.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 | VGWD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 1.80% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 8.71% | 7.00% | +1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.18% | 9.30% | +1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.96% | 11.51% | +2.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.96% | 14.16% | -0.20% |
H4ZL.DE vs. VGWD.DE - Expense Ratio Comparison
H4ZL.DE has a 0.24% expense ratio, which is lower than VGWD.DE's 0.29% expense ratio.
Dividends
H4ZL.DE vs. VGWD.DE - Dividend Comparison
H4ZL.DE's dividend yield for the trailing twelve months is around 2.88%, more than VGWD.DE's 2.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 2.88% | 3.31% | 3.28% | 3.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGWD.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Distributing | 2.48% | 2.84% | 3.05% | 3.40% | 3.78% | 3.02% | 3.08% | 3.21% | 3.70% | 0.58% |
Frequently Asked Questions
H4ZL.DE and VGWD.DE have a correlation of 0.60, 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 0.29% for VGWD.DE.
H4ZL.DE is categorized as REIT, while VGWD.DE is Dividend. H4ZL.DE tracks FTSE EPRA/NAREIT Developed, while VGWD.DE tracks FTSE All-World High Dividend Yield Index. They also come from different issuers: HSBC and Vanguard. Their fees differ too: 0.24% for H4ZL.DE and 0.29% for VGWD.DE.
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