H4ZX.DE vs. WELU.DE

Last updated Jun 5, 2026

H4ZX.DE (HSBC Hang Seng TECH UCITS ETF HKD) and WELU.DE (Amundi S&P Global Information Technology ESG UCITS ETF EUR Acc) are both Technology Equities funds - H4ZX.DE tracks the Hang Seng TECH while WELU.DE tracks the S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Information Technology. Both are passively managed. Over the past 3 years, H4ZX.DE returned 6.77%/yr vs 27.35%/yr for WELU.DE. At a 0.24 correlation, their price movements are largely independent. H4ZX.DE charges 0.50%/yr vs 0.18%/yr for WELU.DE.

Performance

H4ZX.DE vs. WELU.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 Amundi S&P Global Information Technology ESG UCITS ETF EUR Acc (WELU.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 WELU.DE's 21.54% return.

H4ZX.DE

• 1D: -0.76%
• 1M: -0.37%
• YTD: -10.21%
• 6M: -12.22%
• 1Y: -7.89%
• 3Y*: 6.77%
• 5Y*: -8.49%
• 10Y*: —

WELU.DE

• 1D: -1.73%
• 1M: 11.36%
• YTD: 21.54%
• 6M: 19.44%
• 1Y: 43.16%
• 3Y*: 27.35%
• 5Y*: —
• 10Y*: —

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

H4ZX.DE vs. WELU.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%	15.26%
WELU.DE Amundi S&P Global Information Technology ESG UCITS ETF EUR Acc	21.54%	9.54%	38.64%	57.43%	0.20%

Correlation

The correlation between H4ZX.DE and WELU.DE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 12, 2022	0.24

The correlation between H4ZX.DE and WELU.DE shifts across timeframes, from 0.24 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

H4ZX.DE vs. WELU.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

WELU.DE

WELU.DE Risk / Return Rank: 57
WELU.DE Sharpe Ratio Rank: 66
WELU.DE Sortino Ratio Rank: 61
WELU.DE Omega Ratio Rank: 59
WELU.DE Calmar Ratio Rank: 55
WELU.DE Martin Ratio Rank: 44

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. WELU.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 Amundi S&P Global Information Technology ESG UCITS ETF EUR Acc (WELU.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	WELU.DE	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	2.15	-2.41
Sortino ratio: Return per unit of downside risk	-0.20	2.83	-3.02
Omega ratio: Gain probability vs. loss probability	0.98	1.35	-0.37
Calmar ratio: Return relative to maximum drawdown	-0.22	2.70	-2.93
Martin ratio: Return relative to average drawdown	-0.41	6.94	-7.35
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. WELU.DE - Sharpe Ratio Comparison

The current H4ZX.DE Sharpe Ratio is -0.26, which is lower than the WELU.DE Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of H4ZX.DE and WELU.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	WELU.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.26	2.15	-2.41
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	1.52	-1.72

Drawdowns

H4ZX.DE vs. WELU.DE - Drawdown Comparison

The maximum H4ZX.DE drawdown since its inception was -69.32%, which is greater than WELU.DE's maximum drawdown of -28.67%. Use the drawdown chart below to compare losses from any high point for H4ZX.DE and WELU.DE.

Drawdown Indicators

	H4ZX.DE	WELU.DE	Difference
Max Drawdown Largest peak-to-trough decline	-69.32%	-28.67%	-40.65%
Max Drawdown (1Y) Largest decline over 1 year	-30.08%	-16.26%	-13.82%
Max Drawdown (3Y) Largest decline over 3 years	-33.31%	-28.67%	-4.64%
Max Drawdown (5Y) Largest decline over 5 years	-60.34%	—	—
Current Drawdown Current decline from peak	-52.22%	-2.65%	-49.57%
Average Drawdown Average peak-to-trough decline	-49.50%	-4.74%	-44.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.57%	6.35%	+10.22%

Volatility

H4ZX.DE vs. WELU.DE - Volatility Comparison

HSBC Hang Seng TECH UCITS ETF HKD (H4ZX.DE) has a higher volatility of 10.02% compared to Amundi S&P Global Information Technology ESG UCITS ETF EUR Acc (WELU.DE) at 6.70%. This indicates that H4ZX.DE's price experiences larger fluctuations and is considered to be riskier than WELU.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	H4ZX.DE	WELU.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.02%	6.70%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	18.64%	14.75%	+3.89%
Volatility (1Y) Calculated over the trailing 1-year period	26.17%	20.41%	+5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.84%	22.28%	+15.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.65%	22.28%	+15.37%

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

H4ZX.DE has a 0.50% expense ratio, which is higher than WELU.DE's 0.18% expense ratio.

Dividends

H4ZX.DE vs. WELU.DE - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

H4ZX.DE and WELU.DE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, H4ZX.DE or WELU.DE?

On fees, WELU.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

WELU.DE is cheaper with a 0.18% expense ratio, compared with 0.50% for H4ZX.DE.

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

H4ZX.DE tracks Hang Seng TECH, while WELU.DE tracks S&P Developed Ex-Korea LargeMidCap Sustainability Enhanced Information Technology. They also come from different issuers: HSBC and Amundi. Their fees differ too: 0.50% for H4ZX.DE and 0.18% for WELU.DE.