H4ZX.DE vs. L0CK.DE
H4ZX.DE (HSBC Hang Seng TECH UCITS ETF HKD) and L0CK.DE (iShares Digital Security UCITS ETF USD (Acc)) are both Technology Equities funds - H4ZX.DE tracks the Hang Seng TECH while L0CK.DE tracks the STOXX® Global Digital Security. Both are passively managed. Over the past 5 years, H4ZX.DE returned -8.49%/yr vs 10.97%/yr for L0CK.DE. At a 0.35 correlation, their price movements are largely independent. H4ZX.DE charges 0.50%/yr vs 0.40%/yr for L0CK.DE.
Performance
H4ZX.DE vs. L0CK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZX.DE achieves a -10.21% return, which is significantly lower than L0CK.DE's 19.85% 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*
- —
L0CK.DE
- 1D
- -2.66%
- 1M
- 10.58%
- YTD
- 19.85%
- 6M
- 21.05%
- 1Y
- 22.61%
- 3Y*
- 18.48%
- 5Y*
- 10.97%
- 10Y*
- —
H4ZX.DE vs. L0CK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
H4ZX.DE HSBC Hang Seng TECH UCITS ETF HKD | -10.21% | 10.69% | 28.06% | -11.53% | -20.44% | -29.60% | 2.10% |
L0CK.DE iShares Digital Security UCITS ETF USD (Acc) | 19.85% | -0.03% | 22.76% | 29.81% | -25.34% | 27.06% | 4.92% |
Correlation
The correlation between H4ZX.DE and L0CK.DE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2020 | 0.35 |
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Return for Risk
H4ZX.DE vs. L0CK.DE — Risk / Return Rank
H4ZX.DE
L0CK.DE
H4ZX.DE vs. L0CK.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 iShares Digital Security UCITS ETF USD (Acc) (L0CK.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 | L0CK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.35 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.20 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 1.81 | -2.03 |
| Martin ratioReturn relative to average drawdown | -0.41 | 4.44 | -4.85 |
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
| H4ZX.DE | L0CK.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.26 | 1.09 | -1.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.22 | 0.55 | -0.77 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.20 | 0.60 | -0.81 |
Drawdowns
H4ZX.DE vs. L0CK.DE - Drawdown Comparison
The maximum H4ZX.DE drawdown since its inception was -69.32%, which is greater than L0CK.DE's maximum drawdown of -32.50%. Use the drawdown chart below to compare losses from any high point for H4ZX.DE and L0CK.DE.
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Drawdown Indicators
| H4ZX.DE | L0CK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.32% | -32.50% | -36.82% |
Max Drawdown (1Y)Largest decline over 1 year | -30.08% | -12.47% | -17.61% |
Max Drawdown (3Y)Largest decline over 3 years | -33.31% | -27.07% | -6.24% |
Max Drawdown (5Y)Largest decline over 5 years | -60.34% | -28.54% | -31.80% |
Current DrawdownCurrent decline from peak | -52.22% | -3.17% | -49.05% |
Average DrawdownAverage peak-to-trough decline | -49.50% | -9.03% | -40.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.57% | 5.08% | +11.49% |
Volatility
H4ZX.DE vs. L0CK.DE - Volatility Comparison
HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.DE) has a higher volatility of 10.02% compared to iShares Digital Security UCITS ETF USD (Acc) (L0CK.DE) at 8.18%. This indicates that H4ZX.DE's price experiences larger fluctuations and is considered to be riskier than L0CK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZX.DE | L0CK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.02% | 8.18% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 18.64% | 16.31% | +2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.17% | 20.67% | +5.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.84% | 19.90% | +17.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.65% | 20.21% | +17.44% |
H4ZX.DE vs. L0CK.DE - Expense Ratio Comparison
H4ZX.DE has a 0.50% expense ratio, which is higher than L0CK.DE's 0.40% expense ratio.
Dividends
H4ZX.DE vs. L0CK.DE - Dividend Comparison
Neither H4ZX.DE nor L0CK.DE has paid dividends to shareholders.
Frequently Asked Questions
H4ZX.DE and L0CK.DE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, L0CK.DE is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
L0CK.DE is cheaper with a 0.40% expense ratio, compared with 0.50% for H4ZX.DE.
H4ZX.DE tracks Hang Seng TECH, while L0CK.DE tracks STOXX® Global Digital Security. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.50% for H4ZX.DE and 0.40% for L0CK.DE.
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