H4ZN.DE vs. ESEA.DE

Last updated Jun 5, 2026

H4ZN.DE (HSBC S&P 500 UCITS ETF USD (Acc)) and ESEA.DE (BNP Paribas Easy S&P 500 UCITS ETF) 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 18.81%/yr for ESEA.DE. Their correlation of 0.94 suggests significant overlap in exposure. H4ZN.DE charges 0.09%/yr vs 0.15%/yr for ESEA.DE.

Performance

H4ZN.DE vs. ESEA.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC S&P 500 UCITS ETF USD (Acc) (H4ZN.DE) and BNP Paribas Easy S&P 500 UCITS ETF (ESEA.DE). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

H4ZN.DE is traded in EUR, while ESEA.DE is traded in USD. To make them comparable, the ESEA.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 ESEA.DE slightly lower at 11.32%.

H4ZN.DE

• 1D: -0.12%
• 1M: 4.34%
• YTD: 11.38%
• 6M: 10.80%
• 1Y: 25.53%
• 3Y*: 18.87%
• 5Y*: —
• 10Y*: —

ESEA.DE

• 1D: -0.10%
• 1M: 4.44%
• YTD: 11.32%
• 6M: 10.93%
• 1Y: 25.40%
• 3Y*: 18.81%
• 5Y*: 14.54%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

H4ZN.DE vs. ESEA.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%
ESEA.DE BNP Paribas Easy S&P 500 UCITS ETF	11.32%	4.18%	32.44%	22.22%	-6.49%

Correlation

The correlation between H4ZN.DE and ESEA.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 ESEA.DE has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

Return for Risk

H4ZN.DE vs. ESEA.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

H4ZN.DE

H4ZN.DE Risk / Return Rank: 69
H4ZN.DE Sharpe Ratio Rank: 68
H4ZN.DE Sortino Ratio Rank: 66
H4ZN.DE Omega Ratio Rank: 70
H4ZN.DE Calmar Ratio Rank: 72
H4ZN.DE Martin Ratio Rank: 69

ESEA.DE

ESEA.DE Risk / Return Rank: 74
ESEA.DE Sharpe Ratio Rank: 73
ESEA.DE Sortino Ratio Rank: 78
ESEA.DE Omega Ratio Rank: 72
ESEA.DE Calmar Ratio Rank: 68
ESEA.DE Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

H4ZN.DE vs. ESEA.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 (ESEA.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	ESEA.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.04	+0.16
Sortino ratio: Return per unit of downside risk	2.97	2.82	+0.15
Omega ratio: Gain probability vs. loss probability	1.41	1.38	+0.03
Calmar ratio: Return relative to maximum drawdown	3.55	3.53	+0.02
Martin ratio: Return relative to average drawdown	12.69	12.08	+0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4ZN.DE vs. ESEA.DE - Sharpe Ratio Comparison

The current H4ZN.DE Sharpe Ratio is 2.20, which is comparable to the ESEA.DE Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of H4ZN.DE and ESEA.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	H4ZN.DE	ESEA.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.04	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.09	0.88	+0.22

Drawdowns

H4ZN.DE vs. ESEA.DE - Drawdown Comparison

The maximum H4ZN.DE drawdown since its inception was -23.40%, smaller than the maximum ESEA.DE drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for H4ZN.DE and ESEA.DE.

Drawdown Indicators

	H4ZN.DE	ESEA.DE	Difference
Max Drawdown Largest peak-to-trough decline	-23.40%	-33.64%	+10.24%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-7.19%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-23.40%	-22.79%	-0.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.79%	—
Current Drawdown Current decline from peak	-0.43%	-0.39%	-0.04%
Average Drawdown Average peak-to-trough decline	-4.50%	-4.87%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.10%	-0.09%

Volatility

H4ZN.DE vs. ESEA.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 (ESEA.DE) has a volatility of 3.02%. This indicates that H4ZN.DE experiences smaller price fluctuations and is considered to be less risky than ESEA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4ZN.DE	ESEA.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.66%	3.02%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	8.65%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	11.60%	12.45%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.48%	15.91%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.48%	17.81%	-3.33%

H4ZN.DE vs. ESEA.DE - Expense Ratio Comparison

H4ZN.DE has a 0.09% expense ratio, which is lower than ESEA.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. ESEA.DE - Dividend Comparison

H4ZN.DE has not paid dividends to shareholders, while ESEA.DE's dividend yield for the trailing twelve months is around 1.06%.

Position	TTM	2025	2024	2023	2022	2021	2020
ESEA.DE BNP Paribas Easy S&P 500 UCITS ETF	1.06%	0.76%	0.65%	0.00%	1.08%	0.64%	0.67%
H4ZN.DE HSBC S&P 500 UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both H4ZN.DE and ESEA.DE in my portfolio?

With a correlation of 0.94, H4ZN.DE and ESEA.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.

Which ETF is better, H4ZN.DE or ESEA.DE?

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.

Which ETF is cheaper, H4ZN.DE or ESEA.DE?

H4ZN.DE is cheaper with a 0.09% expense ratio, compared with 0.15% for ESEA.DE.

What is the main difference between H4ZN.DE and ESEA.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 ESEA.DE.