H4ZN.DE vs. 4UBQ.DE
H4ZN.DE (HSBC S&P 500 UCITS ETF USD (Acc)) and 4UBQ.DE (UBS ETF (IE) S&P 500 ESG UCITS ETF USD Acc) are both S&P 500 funds - H4ZN.DE tracks the S&P 500 Index while 4UBQ.DE tracks the S&P 500 ESG. Both are passively managed. Over the past 3 years, H4ZN.DE returned 18.87%/yr vs 18.50%/yr for 4UBQ.DE. With a 0.98 correlation, they move nearly in lockstep. H4ZN.DE charges 0.09%/yr vs 0.10%/yr for 4UBQ.DE.
Performance
H4ZN.DE vs. 4UBQ.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with H4ZN.DE having a 11.38% return and 4UBQ.DE slightly lower at 11.15%.
H4ZN.DE
- 1D
- -0.12%
- 1M
- 4.34%
- YTD
- 11.38%
- 6M
- 10.80%
- 1Y
- 25.53%
- 3Y*
- 18.87%
- 5Y*
- —
- 10Y*
- —
4UBQ.DE
- 1D
- 0.58%
- 1M
- 4.20%
- YTD
- 11.15%
- 6M
- 11.13%
- 1Y
- 28.46%
- 3Y*
- 18.50%
- 5Y*
- 15.51%
- 10Y*
- —
H4ZN.DE vs. 4UBQ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4ZN.DE HSBC S&P 500 UCITS ETF USD (Acc) | 11.38% | 4.72% | 32.33% | 22.56% | -5.90% |
4UBQ.DE UBS ETF (IE) S&P 500 ESG UCITS ETF USD Acc | 11.15% | 5.39% | 31.02% | 24.03% | -6.26% |
Correlation
The correlation between H4ZN.DE and 4UBQ.DE is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.98 |
The correlation between H4ZN.DE and 4UBQ.DE has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.
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Return for Risk
H4ZN.DE vs. 4UBQ.DE — Risk / Return Rank
H4ZN.DE
4UBQ.DE
H4ZN.DE vs. 4UBQ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC S&P 500 UCITS ETF USD (Acc) (H4ZN.DE) and UBS ETF (IE) S&P 500 ESG UCITS ETF USD Acc (4UBQ.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.
| H4ZN.DE | 4UBQ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.46 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 4.10 | -0.55 |
| Martin ratioReturn relative to average drawdown | 12.69 | 15.73 | -3.04 |
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
| H4ZN.DE | 4UBQ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 2.47 | -0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.00 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 1.11 | -0.02 |
Drawdowns
H4ZN.DE vs. 4UBQ.DE - Drawdown Comparison
The maximum H4ZN.DE drawdown since its inception was -23.40%, roughly equal to the maximum 4UBQ.DE drawdown of -23.35%. Use the drawdown chart below to compare losses from any high point for H4ZN.DE and 4UBQ.DE.
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Drawdown Indicators
| H4ZN.DE | 4UBQ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -23.35% | -0.05% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -6.93% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -23.40% | -23.35% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.35% | — |
Current DrawdownCurrent decline from peak | -0.43% | 0.00% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -4.02% | -0.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 1.81% | +0.20% |
Volatility
H4ZN.DE vs. 4UBQ.DE - Volatility Comparison
The current volatility for HSBC S&P 500 UCITS ETF USD (Acc) (H4ZN.DE) is 2.66%, while UBS ETF (IE) S&P 500 ESG UCITS ETF USD Acc (4UBQ.DE) has a volatility of 2.81%. This indicates that H4ZN.DE experiences smaller price fluctuations and is considered to be less risky than 4UBQ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZN.DE | 4UBQ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.81% | -0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 7.61% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 11.53% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 15.27% | -0.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.48% | 15.39% | -0.91% |
H4ZN.DE vs. 4UBQ.DE - Expense Ratio Comparison
H4ZN.DE has a 0.09% expense ratio, which is lower than 4UBQ.DE's 0.10% 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
H4ZN.DE vs. 4UBQ.DE - Dividend Comparison
Neither H4ZN.DE nor 4UBQ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, H4ZN.DE and 4UBQ.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, H4ZN.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZN.DE is cheaper with a 0.09% expense ratio, compared with 0.10% for 4UBQ.DE.
H4ZN.DE tracks S&P 500 Index, while 4UBQ.DE tracks S&P 500 ESG. They also come from different issuers: HSBC and UBS. Their fees differ too: 0.09% for H4ZN.DE and 0.10% for 4UBQ.DE.
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