H4ZZ.DE vs. CEMS.DE
H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) and CEMS.DE (iShares Edge MSCI Europe Value Factor UCITS ETF) are both Europe Equities funds - H4ZZ.DE tracks the EURO STOXX 50 while CEMS.DE tracks the MSCI Europe Enhanced Value. Both are passively managed. Over the past 3 years, H4ZZ.DE returned 15.64%/yr vs 21.63%/yr for CEMS.DE. Their correlation of 0.87 suggests significant overlap in exposure. H4ZZ.DE charges 0.05%/yr vs 0.25%/yr for CEMS.DE.
Performance
H4ZZ.DE vs. CEMS.DE - Performance Comparison
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Returns By Period
In the year-to-date period, H4ZZ.DE achieves a 7.20% return, which is significantly lower than CEMS.DE's 13.72% return.
H4ZZ.DE
- 1D
- 0.77%
- 1M
- 1.96%
- YTD
- 7.20%
- 6M
- 8.56%
- 1Y
- 15.62%
- 3Y*
- 15.64%
- 5Y*
- —
- 10Y*
- —
CEMS.DE
- 1D
- 0.10%
- 1M
- 2.64%
- YTD
- 13.72%
- 6M
- 16.98%
- 1Y
- 32.08%
- 3Y*
- 21.63%
- 5Y*
- 14.47%
- 10Y*
- 10.71%
H4ZZ.DE vs. CEMS.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 7.20% | 22.35% | 10.99% | 22.53% | 9.82% |
CEMS.DE iShares Edge MSCI Europe Value Factor UCITS ETF | 13.72% | 35.97% | 9.93% | 13.90% | 4.33% |
Correlation
The correlation between H4ZZ.DE and CEMS.DE is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.87 |
The correlation between H4ZZ.DE and CEMS.DE has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.
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Return for Risk
H4ZZ.DE vs. CEMS.DE — Risk / Return Rank
H4ZZ.DE
CEMS.DE
H4ZZ.DE vs. CEMS.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) and iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.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.
| H4ZZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.73 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.43 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 3.29 | -1.86 |
| Martin ratioReturn relative to average drawdown | 4.86 | 12.37 | -7.50 |
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
| H4ZZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.98 | 2.37 | -1.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.61 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.18 | 0.49 | +0.69 |
Drawdowns
H4ZZ.DE vs. CEMS.DE - Drawdown Comparison
The maximum H4ZZ.DE drawdown since its inception was -16.46%, smaller than the maximum CEMS.DE drawdown of -40.20%. Use the drawdown chart below to compare losses from any high point for H4ZZ.DE and CEMS.DE.
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Drawdown Indicators
| H4ZZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.46% | -40.20% | +23.74% |
Max Drawdown (1Y)Largest decline over 1 year | -10.94% | -9.99% | -0.95% |
Max Drawdown (3Y)Largest decline over 3 years | -16.46% | -17.57% | +1.11% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.55% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -40.20% | — |
Current DrawdownCurrent decline from peak | -0.53% | -1.26% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -7.49% | +4.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.23% | 2.66% | +0.57% |
Volatility
H4ZZ.DE vs. CEMS.DE - Volatility Comparison
HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a higher volatility of 4.93% compared to iShares Edge MSCI Europe Value Factor UCITS ETF (CEMS.DE) at 4.65%. This indicates that H4ZZ.DE's price experiences larger fluctuations and is considered to be riskier than CEMS.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| H4ZZ.DE | CEMS.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 4.65% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.97% | 11.17% | +1.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.97% | 13.87% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.85% | 15.23% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.85% | 17.43% | -1.58% |
H4ZZ.DE vs. CEMS.DE - Expense Ratio Comparison
H4ZZ.DE has a 0.05% expense ratio, which is lower than CEMS.DE's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
H4ZZ.DE vs. CEMS.DE - Dividend Comparison
Neither H4ZZ.DE nor CEMS.DE has paid dividends to shareholders.
Frequently Asked Questions
H4ZZ.DE and CEMS.DE have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.25% for CEMS.DE.
H4ZZ.DE tracks EURO STOXX 50, while CEMS.DE tracks MSCI Europe Enhanced Value. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.05% for H4ZZ.DE and 0.25% for CEMS.DE.
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