H4ZN.DE vs. ESAP.DE
H4ZN.DE (HSBC S&P 500 UCITS ETF USD (Acc)) and ESAP.DE (BNP Paribas Easy S&P 500 UCITS ETF USD) are both S&P 500 funds tracking the S&P 500 Index, from HSBC and BNP Paribas respectively. Both are passively managed. Over the past 3 years, H4ZN.DE returned 18.87%/yr vs 18.75%/yr for ESAP.DE. Their correlation of 0.94 suggests significant overlap in exposure. H4ZN.DE charges 0.09%/yr vs 0.15%/yr for ESAP.DE.
Performance
H4ZN.DE vs. ESAP.DE - Performance Comparison
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Different Trading Currencies
H4ZN.DE is traded in EUR, while ESAP.DE is traded in USD. To make them comparable, the ESAP.DE values have been converted to EUR using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with H4ZN.DE having a 11.38% return and ESAP.DE slightly lower at 11.29%.
H4ZN.DE
- 1D
- -0.12%
- 1M
- 4.34%
- YTD
- 11.38%
- 6M
- 10.80%
- 1Y
- 25.53%
- 3Y*
- 18.87%
- 5Y*
- —
- 10Y*
- —
ESAP.DE
- 1D
- -0.12%
- 1M
- 4.44%
- YTD
- 11.29%
- 6M
- 10.88%
- 1Y
- 25.40%
- 3Y*
- 18.75%
- 5Y*
- 14.69%
- 10Y*
- —
H4ZN.DE vs. ESAP.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% |
ESAP.DE BNP Paribas Easy S&P 500 UCITS ETF USD | 11.29% | 4.09% | 32.39% | 23.18% | -6.44% |
Correlation
The correlation between H4ZN.DE and ESAP.DE is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.94 |
The correlation between H4ZN.DE and ESAP.DE has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.
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Return for Risk
H4ZN.DE vs. ESAP.DE — Risk / Return Rank
H4ZN.DE
ESAP.DE
H4ZN.DE vs. ESAP.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 BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.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 | ESAP.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.37 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 3.56 | 0.00 |
| Martin ratioReturn relative to average drawdown | 12.69 | 12.15 | +0.54 |
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 | ESAP.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 2.03 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.91 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 0.84 | +0.25 |
Drawdowns
H4ZN.DE vs. ESAP.DE - Drawdown Comparison
The maximum H4ZN.DE drawdown since its inception was -23.40%, smaller than the maximum ESAP.DE drawdown of -33.74%. Use the drawdown chart below to compare losses from any high point for H4ZN.DE and ESAP.DE.
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Drawdown Indicators
| H4ZN.DE | ESAP.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -33.74% | +10.34% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -7.14% | -0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -23.40% | -22.82% | -0.58% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.82% | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.40% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -4.99% | +0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.09% | -0.08% |
Volatility
H4ZN.DE vs. ESAP.DE - Volatility Comparison
The current volatility for HSBC S&P 500 UCITS ETF USD (Acc) (H4ZN.DE) is 2.66%, while BNP Paribas Easy S&P 500 UCITS ETF USD (ESAP.DE) has a volatility of 3.01%. This indicates that H4ZN.DE experiences smaller price fluctuations and is considered to be less risky than ESAP.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 | ESAP.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 3.01% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 8.64% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 12.50% | -0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 15.93% | -1.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.48% | 17.80% | -3.32% |
H4ZN.DE vs. ESAP.DE - Expense Ratio Comparison
H4ZN.DE has a 0.09% expense ratio, which is lower than ESAP.DE's 0.15% 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. ESAP.DE - Dividend Comparison
Neither H4ZN.DE nor ESAP.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, H4ZN.DE and ESAP.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 0.15% for ESAP.DE.
Both ETFs track S&P 500 Index. They also come from different issuers: HSBC and BNP Paribas. Their fees differ too: 0.09% for H4ZN.DE and 0.15% for ESAP.DE.
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