H4ZP.DE vs. LHKG.DE
H4ZP.DE (HSBC MSCI China UCITS ETF USD) and LHKG.DE (Lyxor MSCI China ESG Leaders Extra UCITS ETF Dist) are both China Equities funds - H4ZP.DE tracks the MSCI China while LHKG.DE tracks the MSCI China Select ESG Rating and Trend Leaders. Both are passively managed. Over the past 10 years, H4ZP.DE returned 4.72%/yr vs 2.55%/yr for LHKG.DE. Their correlation of 0.91 suggests significant overlap in exposure. H4ZP.DE charges 0.28%/yr vs 0.65%/yr for LHKG.DE.
Performance
H4ZP.DE vs. LHKG.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with H4ZP.DE having a -6.53% return and LHKG.DE slightly higher at -6.38%. Over the past 10 years, H4ZP.DE has outperformed LHKG.DE with an annualized return of 4.72%, while LHKG.DE has yielded a comparatively lower 2.55% 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%
LHKG.DE
- 1D
- -0.30%
- 1M
- -2.25%
- YTD
- -6.38%
- 6M
- -8.89%
- 1Y
- 2.88%
- 3Y*
- 6.17%
- 5Y*
- -2.20%
- 10Y*
- 2.55%
H4ZP.DE vs. LHKG.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% |
LHKG.DE Lyxor MSCI China ESG Leaders Extra UCITS ETF Dist | -6.38% | 21.50% | 20.37% | -17.49% | -7.90% | -6.59% | -10.39% | 16.35% | -8.73% | 22.42% |
Correlation
The correlation between H4ZP.DE and LHKG.DE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2013 | 0.91 |
The correlation between H4ZP.DE and LHKG.DE has been stable across timeframes, ranging from 0.91 to 0.98 - a consistent structural relationship.
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Return for Risk
H4ZP.DE vs. LHKG.DE — Risk / Return Rank
H4ZP.DE
LHKG.DE
H4ZP.DE vs. LHKG.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 Lyxor MSCI China ESG Leaders Extra UCITS ETF Dist (LHKG.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 | LHKG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.05 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.19 | 0.20 | -0.01 |
| Martin ratioReturn relative to average drawdown | 0.39 | 0.38 | +0.01 |
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 | LHKG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.17 | 0.18 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.14 | -0.09 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.11 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.12 | +0.07 |
Drawdowns
H4ZP.DE vs. LHKG.DE - Drawdown Comparison
The maximum H4ZP.DE drawdown since its inception was -55.74%, smaller than the maximum LHKG.DE drawdown of -58.71%. Use the drawdown chart below to compare losses from any high point for H4ZP.DE and LHKG.DE.
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Drawdown Indicators
| H4ZP.DE | LHKG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.74% | -58.71% | +2.97% |
Max Drawdown (1Y)Largest decline over 1 year | -16.83% | -17.64% | +0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -24.56% | -26.41% | +1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -49.16% | -43.07% | -6.09% |
Max Drawdown (10Y)Largest decline over 10 years | -55.74% | -45.11% | -10.63% |
Current DrawdownCurrent decline from peak | -31.17% | -16.18% | -14.99% |
Average DrawdownAverage peak-to-trough decline | -23.08% | -19.83% | -3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 9.15% | -1.00% |
Volatility
H4ZP.DE vs. LHKG.DE - Volatility Comparison
The current volatility for HSBC MSCI China UCITS ETF USD (H4ZP.DE) is 7.30%, while Lyxor MSCI China ESG Leaders Extra UCITS ETF Dist (LHKG.DE) has a volatility of 8.31%. This indicates that H4ZP.DE experiences smaller price fluctuations and is considered to be less risky than LHKG.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 | LHKG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.30% | 8.31% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 13.14% | 14.08% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.46% | 19.89% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.70% | 24.93% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.25% | 22.47% | +2.78% |
H4ZP.DE vs. LHKG.DE - Expense Ratio Comparison
H4ZP.DE has a 0.28% expense ratio, which is lower than LHKG.DE's 0.65% expense ratio.
Dividends
H4ZP.DE vs. LHKG.DE - Dividend Comparison
H4ZP.DE's dividend yield for the trailing twelve months is around 2.14%, more than LHKG.DE's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
LHKG.DE Lyxor MSCI China ESG Leaders Extra UCITS ETF Dist | 1.61% | 1.50% | 2.18% | 0.17% | 3.78% | 1.35% | 2.46% | 2.58% | 3.04% | 2.30% | 3.38% | 3.88% |
Frequently Asked Questions
With a correlation of 0.98, H4ZP.DE and LHKG.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, H4ZP.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZP.DE is cheaper with a 0.28% expense ratio, compared with 0.65% for LHKG.DE.
H4ZP.DE tracks MSCI China, while LHKG.DE tracks MSCI China Select ESG Rating and Trend Leaders. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.28% for H4ZP.DE and 0.65% for LHKG.DE.
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