H4ZN.DE vs. H4ZL.DE
H4ZN.DE (HSBC S&P 500 UCITS ETF USD (Acc)) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both exchange-traded funds - H4ZN.DE is a S&P 500 fund tracking the S&P 500 Index, while H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 3 years, H4ZN.DE returned 19.28%/yr vs 9.37%/yr for H4ZL.DE. A 0.51 correlation means they provide meaningful diversification when combined. H4ZN.DE charges 0.09%/yr vs 0.24%/yr for H4ZL.DE.
Performance
H4ZN.DE vs. H4ZL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZN.DE achieves a 11.87% return, which is significantly lower than H4ZL.DE's 12.75% return.
H4ZN.DE
- 1D
- 0.00%
- 1M
- 1.20%
- YTD
- 11.87%
- 6M
- 12.19%
- 1Y
- 25.94%
- 3Y*
- 19.28%
- 5Y*
- 29.49%
- 10Y*
- 13.79%
H4ZL.DE
- 1D
- -0.23%
- 1M
- 2.21%
- YTD
- 12.75%
- 6M
- 13.94%
- 1Y
- 15.88%
- 3Y*
- 9.37%
- 5Y*
- —
- 10Y*
- —
H4ZN.DE vs. H4ZL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
H4ZN.DE HSBC S&P 500 UCITS ETF USD (Acc) | 11.87% | 4.72% | 32.33% | 22.56% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 12.75% | -1.48% | 5.75% | 6.44% |
Correlation
The correlation between H4ZN.DE and H4ZL.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2023 | 0.51 |
The correlation between H4ZN.DE and H4ZL.DE shifts across timeframes, from 0.38 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
H4ZN.DE vs. H4ZL.DE — Risk / Return Rank
H4ZN.DE
H4ZL.DE
H4ZN.DE vs. H4ZL.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 HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.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.
| H4ZN.DE | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.77 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.24 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 2.03 | +1.61 |
| Martin ratioReturn relative to average drawdown | 12.81 | 7.07 | +5.74 |
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Drawdowns
H4ZN.DE vs. H4ZL.DE - Drawdown Comparison
The maximum H4ZN.DE drawdown since its inception was -43.18%, which is greater than H4ZL.DE's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for H4ZN.DE and H4ZL.DE.
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Drawdown Indicators
| H4ZN.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.18% | -20.11% | -23.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -7.84% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -23.40% | -20.11% | -3.29% |
Max Drawdown (5Y)Largest decline over 5 years | -23.40% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -23.40% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.23% | +0.23% |
Average DrawdownAverage peak-to-trough decline | -17.50% | -6.58% | -10.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 2.25% | -0.22% |
Volatility
H4ZN.DE vs. H4ZL.DE - Volatility Comparison
The current volatility for HSBC S&P 500 UCITS ETF USD (Acc) (H4ZN.DE) is 3.21%, while HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) has a volatility of 3.58%. This indicates that H4ZN.DE experiences smaller price fluctuations and is considered to be less risky than H4ZL.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 | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 3.58% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.98% | 8.68% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.96% | 11.34% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.86% | 14.00% | +33.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.89% | 14.00% | +19.89% |
H4ZN.DE vs. H4ZL.DE - Expense Ratio Comparison
H4ZN.DE has a 0.09% expense ratio, which is lower than H4ZL.DE's 0.24% 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. H4ZL.DE - Dividend Comparison
H4ZN.DE has not paid dividends to shareholders, while H4ZL.DE's dividend yield for the trailing twelve months is around 2.90%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 2.90% | 3.31% | 3.28% | 3.42% |
H4ZN.DE HSBC S&P 500 UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
H4ZN.DE and H4ZL.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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 0.24% for H4ZL.DE.
H4ZN.DE is categorized as S&P 500, while H4ZL.DE is REIT. H4ZN.DE tracks S&P 500 Index, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. Their fees differ too: 0.09% for H4ZN.DE and 0.24% for H4ZL.DE.
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