H4ZX.DE vs. H4Z6.DE

Last updated Jun 5, 2026

H4ZX.DE (HSBC Hang Seng TECH UCITS ETF HKD) and H4Z6.DE (HSBC MSCI China UCITS ETF USD (Acc)) are both exchange-traded funds - H4ZX.DE is a Technology Equities fund tracking the Hang Seng TECH, while H4Z6.DE is a China Equities fund tracking the MSCI China. Both are passively managed. Over the past 3 years, H4ZX.DE returned 6.77%/yr vs 7.78%/yr for H4Z6.DE. Their correlation of 0.94 suggests significant overlap in exposure. H4ZX.DE charges 0.50%/yr vs 0.28%/yr for H4Z6.DE.

Performance

H4ZX.DE vs. H4Z6.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.DE) and HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, H4ZX.DE achieves a -10.21% return, which is significantly lower than H4Z6.DE's -6.53% return.

H4ZX.DE

• 1D: -0.76%
• 1M: 1.65%
• YTD: -10.21%
• 6M: -11.15%
• 1Y: -6.78%
• 3Y*: 6.77%
• 5Y*: -8.49%
• 10Y*: —

H4Z6.DE

• 1D: -0.38%
• 1M: -1.87%
• YTD: -6.53%
• 6M: -8.04%
• 1Y: 3.08%
• 3Y*: 7.78%
• 5Y*: —
• 10Y*: —

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

H4ZX.DE vs. H4Z6.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
H4ZX.DE HSBC Hang Seng TECH UCITS ETF HKD	-10.21%	10.69%	28.06%	-11.53%	-13.08%
H4Z6.DE HSBC MSCI China UCITS ETF USD (Acc)	-6.53%	16.48%	27.04%	-14.63%	-10.19%

Correlation

The correlation between H4ZX.DE and H4Z6.DE is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jul 26, 2022	0.94

The correlation between H4ZX.DE and H4Z6.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

H4ZX.DE vs. H4Z6.DE — Risk / Return Rank

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

H4ZX.DE

H4ZX.DE Risk / Return Rank: 7
H4ZX.DE Sharpe Ratio Rank: 7
H4ZX.DE Sortino Ratio Rank: 7
H4ZX.DE Omega Ratio Rank: 7
H4ZX.DE Calmar Ratio Rank: 7
H4ZX.DE Martin Ratio Rank: 7

H4Z6.DE

H4Z6.DE Risk / Return Rank: 11
H4Z6.DE Sharpe Ratio Rank: 11
H4Z6.DE Sortino Ratio Rank: 11
H4Z6.DE Omega Ratio Rank: 11
H4Z6.DE Calmar Ratio Rank: 11
H4Z6.DE Martin Ratio Rank: 11

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.

H4ZX.DE vs. H4Z6.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.DE) and HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.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.

	H4ZX.DE	H4Z6.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	0.17	-0.42
Sortino ratio: Return per unit of downside risk	-0.20	0.37	-0.56
Omega ratio: Gain probability vs. loss probability	0.98	1.04	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.22	0.18	-0.41
Martin ratio: Return relative to average drawdown	-0.41	0.38	-0.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

H4ZX.DE vs. H4Z6.DE - Sharpe Ratio Comparison

The current H4ZX.DE Sharpe Ratio is -0.26, which is lower than the H4Z6.DE Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of H4ZX.DE and H4Z6.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

	H4ZX.DE	H4Z6.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.26	0.17	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	0.06	-0.26

Drawdowns

H4ZX.DE vs. H4Z6.DE - Drawdown Comparison

The maximum H4ZX.DE drawdown since its inception was -69.32%, which is greater than H4Z6.DE's maximum drawdown of -33.47%. Use the drawdown chart below to compare losses from any high point for H4ZX.DE and H4Z6.DE.

Drawdown Indicators

	H4ZX.DE	H4Z6.DE	Difference
Max Drawdown Largest peak-to-trough decline	-69.32%	-33.47%	-35.85%
Max Drawdown (1Y) Largest decline over 1 year	-30.08%	-16.85%	-13.23%
Max Drawdown (3Y) Largest decline over 3 years	-33.31%	-24.47%	-8.84%
Max Drawdown (5Y) Largest decline over 5 years	-60.34%	—	—
Current Drawdown Current decline from peak	-52.22%	-14.82%	-37.40%
Average Drawdown Average peak-to-trough decline	-49.50%	-13.91%	-35.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.57%	8.17%	+8.40%

Volatility

H4ZX.DE vs. H4Z6.DE - Volatility Comparison

HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.DE) has a higher volatility of 10.02% compared to HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) at 7.23%. This indicates that H4ZX.DE's price experiences larger fluctuations and is considered to be riskier than H4Z6.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4ZX.DE	H4Z6.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.02%	7.23%	+2.79%
Volatility (6M) Calculated over the trailing 6-month period	18.64%	13.11%	+5.53%
Volatility (1Y) Calculated over the trailing 1-year period	26.17%	18.60%	+7.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.84%	25.28%	+12.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.65%	25.28%	+12.37%

H4ZX.DE vs. H4Z6.DE - Expense Ratio Comparison

H4ZX.DE has a 0.50% expense ratio, which is higher than H4Z6.DE's 0.28% expense ratio.

Dividends

H4ZX.DE vs. H4Z6.DE - Dividend Comparison

Neither H4ZX.DE nor H4Z6.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both H4ZX.DE and H4Z6.DE in my portfolio?

With a correlation of 0.92, H4ZX.DE and H4Z6.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, H4ZX.DE or H4Z6.DE?

On fees, H4Z6.DE is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, H4ZX.DE or H4Z6.DE?

H4Z6.DE is cheaper with a 0.28% expense ratio, compared with 0.50% for H4ZX.DE.

What is the main difference between H4ZX.DE and H4Z6.DE?

H4ZX.DE is categorized as Technology Equities, while H4Z6.DE is China Equities. H4ZX.DE tracks Hang Seng TECH, while H4Z6.DE tracks MSCI China. Their fees differ too: 0.50% for H4ZX.DE and 0.28% for H4Z6.DE.