H4ZP.DE vs. H4ZL.DE
H4ZP.DE (HSBC MSCI China UCITS ETF USD) and H4ZL.DE (HSBC FTSE EPRA NAREIT Developed UCITS ETF USD) are both exchange-traded funds - H4ZP.DE is a China Equities fund tracking the MSCI China, while H4ZL.DE is a REIT fund tracking the FTSE EPRA/NAREIT Developed. Both are passively managed. Over the past 10 years, H4ZP.DE returned 4.72%/yr vs 2.35%/yr for H4ZL.DE. At a 0.37 correlation, their price movements are largely independent. H4ZP.DE charges 0.28%/yr vs 0.24%/yr for H4ZL.DE.
Performance
H4ZP.DE vs. H4ZL.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZP.DE achieves a -6.53% return, which is significantly lower than H4ZL.DE's 6.32% return. Over the past 10 years, H4ZP.DE has outperformed H4ZL.DE with an annualized return of 4.72%, while H4ZL.DE has yielded a comparatively lower 2.35% annualized return.
H4ZP.DE
- 1D
- -0.23%
- 1M
- -3.31%
- YTD
- -6.53%
- 6M
- -9.00%
- 1Y
- 2.93%
- 3Y*
- 8.20%
- 5Y*
- -4.00%
- 10Y*
- 4.72%
H4ZL.DE
- 1D
- -0.02%
- 1M
- -2.45%
- YTD
- 6.32%
- 6M
- 5.97%
- 1Y
- 6.50%
- 3Y*
- 3.13%
- 5Y*
- 0.30%
- 10Y*
- 2.35%
H4ZP.DE vs. H4ZL.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
H4ZP.DE HSBC MSCI China UCITS ETF USD | -6.53% | 16.54% | 28.55% | -14.47% | -15.34% | -16.86% | 15.20% | 26.76% | -16.09% | 35.18% |
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 6.32% | -4.65% | 2.27% | 6.12% | -20.22% | 36.90% | -16.99% | 23.91% | -0.81% | -2.27% |
Correlation
The correlation between H4ZP.DE and H4ZL.DE is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.37 |
The correlation between H4ZP.DE and H4ZL.DE shifts across timeframes, from 0.22 (3 years) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
H4ZP.DE vs. H4ZL.DE — Risk / Return Rank
H4ZP.DE
H4ZL.DE
H4ZP.DE vs. H4ZL.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI China UCITS ETF USD (H4ZP.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.
| H4ZP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.11 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 0.84 | -0.66 |
| Martin ratioReturn relative to average drawdown | 0.39 | 2.48 | -2.09 |
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
| H4ZP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.59 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | 0.02 | -0.16 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.14 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.29 | -0.10 |
Drawdowns
H4ZP.DE vs. H4ZL.DE - Drawdown Comparison
The maximum H4ZP.DE drawdown since its inception was -55.74%, which is greater than H4ZL.DE's maximum drawdown of -41.97%. Use the drawdown chart below to compare losses from any high point for H4ZP.DE and H4ZL.DE.
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Drawdown Indicators
| H4ZP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.74% | -41.97% | -13.77% |
Max Drawdown (1Y)Largest decline over 1 year | -16.83% | -7.82% | -9.01% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -20.68% | -3.88% |
Max Drawdown (5Y)Largest decline over 5 years | -49.16% | -30.45% | -18.71% |
Max Drawdown (10Y)Largest decline over 10 years | -55.74% | -41.97% | -13.77% |
Current DrawdownCurrent decline from peak | -31.17% | -13.81% | -17.36% |
Average DrawdownAverage peak-to-trough decline | -23.08% | -10.80% | -12.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 2.67% | +5.48% |
Volatility
H4ZP.DE vs. H4ZL.DE - Volatility Comparison
HSBC MSCI China UCITS ETF USD (H4ZP.DE) has a higher volatility of 7.30% compared to HSBC FTSE EPRA NAREIT Developed UCITS ETF USD (H4ZL.DE) at 2.88%. This indicates that H4ZP.DE's price experiences larger fluctuations and is considered to be riskier 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
| H4ZP.DE | H4ZL.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 2.88% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 13.14% | 8.34% | +4.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.46% | 11.21% | +7.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.70% | 14.69% | +13.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.25% | 16.27% | +8.98% |
H4ZP.DE vs. H4ZL.DE - Expense Ratio Comparison
H4ZP.DE has a 0.28% expense ratio, which is higher than H4ZL.DE's 0.24% expense ratio.
Dividends
H4ZP.DE vs. H4ZL.DE - Dividend Comparison
H4ZP.DE's dividend yield for the trailing twelve months is around 2.14%, while H4ZL.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZL.DE HSBC FTSE EPRA NAREIT Developed UCITS ETF USD | 0.00% | 0.00% | 0.00% | 2.63% | 3.62% | 2.19% | 3.13% | 2.95% | 3.29% | 3.08% | 2.96% | 2.67% |
H4ZP.DE HSBC MSCI China UCITS ETF USD | 2.14% | 2.39% | 3.10% | 2.10% | 1.97% | 1.28% | 0.96% | 1.57% | 1.40% | 0.78% | 1.97% | 2.89% |
Frequently Asked Questions
H4ZP.DE and H4ZL.DE have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZL.DE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZL.DE is cheaper with a 0.24% expense ratio, compared with 0.28% for H4ZP.DE.
H4ZP.DE is categorized as China Equities, while H4ZL.DE is REIT. H4ZP.DE tracks MSCI China, while H4ZL.DE tracks FTSE EPRA/NAREIT Developed. Their fees differ too: 0.28% for H4ZP.DE and 0.24% for H4ZL.DE.
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