H4ZN.DE vs. IBCK.DE
H4ZN.DE (HSBC S&P 500 UCITS ETF USD (Acc)) and IBCK.DE (iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc)) are both S&P 500 funds - H4ZN.DE tracks the S&P 500 Index while IBCK.DE tracks the S&P 500 Minimum Volatility. Both are passively managed. Over the past 3 years, H4ZN.DE returned 18.87%/yr vs 10.94%/yr for IBCK.DE. Their correlation of 0.82 suggests significant overlap in exposure. H4ZN.DE charges 0.09%/yr vs 0.20%/yr for IBCK.DE.
Performance
H4ZN.DE vs. IBCK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZN.DE achieves a 11.38% return, which is significantly higher than IBCK.DE's 5.14% return.
H4ZN.DE
- 1D
- -0.12%
- 1M
- 4.34%
- YTD
- 11.38%
- 6M
- 10.80%
- 1Y
- 25.53%
- 3Y*
- 18.87%
- 5Y*
- —
- 10Y*
- —
IBCK.DE
- 1D
- 0.27%
- 1M
- 4.61%
- YTD
- 5.14%
- 6M
- 5.32%
- 1Y
- 9.77%
- 3Y*
- 10.94%
- 5Y*
- 9.91%
- 10Y*
- 10.32%
H4ZN.DE vs. IBCK.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% |
IBCK.DE iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc) | 5.14% | -0.69% | 25.61% | 6.20% | -5.02% |
Correlation
The correlation between H4ZN.DE and IBCK.DE is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.82 |
The correlation between H4ZN.DE and IBCK.DE has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.
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Return for Risk
H4ZN.DE vs. IBCK.DE — Risk / Return Rank
H4ZN.DE
IBCK.DE
H4ZN.DE vs. IBCK.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 iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc) (IBCK.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 | IBCK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.19 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.55 | 1.83 | +1.73 |
| Martin ratioReturn relative to average drawdown | 12.69 | 5.31 | +7.39 |
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 | IBCK.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.20 | 1.07 | +1.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.79 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.73 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.09 | 0.88 | +0.21 |
Drawdowns
H4ZN.DE vs. IBCK.DE - Drawdown Comparison
The maximum H4ZN.DE drawdown since its inception was -23.40%, smaller than the maximum IBCK.DE drawdown of -33.11%. Use the drawdown chart below to compare losses from any high point for H4ZN.DE and IBCK.DE.
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Drawdown Indicators
| H4ZN.DE | IBCK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.40% | -33.11% | +9.71% |
Max Drawdown (1Y)Largest decline over 1 year | -7.17% | -5.08% | -2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -23.40% | -17.55% | -5.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.11% | — |
Current DrawdownCurrent decline from peak | -0.43% | -0.47% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -4.50% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 1.75% | +0.26% |
Volatility
H4ZN.DE vs. IBCK.DE - Volatility Comparison
HSBC S&P 500 UCITS ETF USD (Acc) (H4ZN.DE) has a higher volatility of 2.66% compared to iShares Edge S&P 500 Minimum Volatility UCITS ETF (Acc) (IBCK.DE) at 2.26%. This indicates that H4ZN.DE's price experiences larger fluctuations and is considered to be riskier than IBCK.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 | IBCK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 2.26% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 7.63% | 5.71% | +1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.60% | 8.73% | +2.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 12.37% | +2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.48% | 14.02% | +0.46% |
H4ZN.DE vs. IBCK.DE - Expense Ratio Comparison
H4ZN.DE has a 0.09% expense ratio, which is lower than IBCK.DE's 0.20% 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. IBCK.DE - Dividend Comparison
Neither H4ZN.DE nor IBCK.DE has paid dividends to shareholders.
Frequently Asked Questions
H4ZN.DE and IBCK.DE have a correlation of 0.77, 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 0.20% for IBCK.DE.
H4ZN.DE tracks S&P 500 Index, while IBCK.DE tracks S&P 500 Minimum Volatility. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.09% for H4ZN.DE and 0.20% for IBCK.DE.
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