JRUD.DE vs. H412.DE

Last updated Jun 5, 2026

JRUD.DE (JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) and H412.DE (HSBC USA Sustainable Equity UCITS ETF USD) are both Large Cap Blend Equities funds - JRUD.DE tracks the JP Morgan US Research Enhanced Index Equity (ESG) while H412.DE tracks the FTSE USA ESG Low Carbon Select. Both are passively managed. Over the past 5 years, JRUD.DE returned 14.63%/yr vs 13.98%/yr for H412.DE. With a 0.97 correlation, they move nearly in lockstep. JRUD.DE charges 0.20%/yr vs 0.12%/yr for H412.DE.

Performance

JRUD.DE vs. H412.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) and HSBC USA Sustainable Equity UCITS ETF USD (H412.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRUD.DE achieves a 10.50% return, which is significantly lower than H412.DE's 15.33% return.

JRUD.DE

• 1D: -0.13%
• 1M: 3.79%
• YTD: 10.50%
• 6M: 10.16%
• 1Y: 24.35%
• 3Y*: 18.26%
• 5Y*: 14.63%
• 10Y*: —

H412.DE

• 1D: 0.46%
• 1M: 7.70%
• YTD: 15.33%
• 6M: 15.89%
• 1Y: 32.34%
• 3Y*: 18.35%
• 5Y*: 13.98%
• 10Y*: —

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

JRUD.DE vs. H412.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
JRUD.DE JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	10.50%	3.71%	32.10%	23.94%	-14.78%	42.20%	9.05%
H412.DE HSBC USA Sustainable Equity UCITS ETF USD	15.33%	6.12%	26.73%	17.60%	-13.13%	39.39%	7.92%

Correlation

The correlation between JRUD.DE and H412.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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 16, 2020	0.97

The correlation between JRUD.DE and H412.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

Return for Risk

JRUD.DE vs. H412.DE — Risk / Return Rank

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

JRUD.DE

JRUD.DE Risk / Return Rank: 68
JRUD.DE Sharpe Ratio Rank: 65
JRUD.DE Sortino Ratio Rank: 64
JRUD.DE Omega Ratio Rank: 68
JRUD.DE Calmar Ratio Rank: 72
JRUD.DE Martin Ratio Rank: 72

H412.DE

H412.DE Risk / Return Rank: 89
H412.DE Sharpe Ratio Rank: 88
H412.DE Sortino Ratio Rank: 88
H412.DE Omega Ratio Rank: 88
H412.DE Calmar Ratio Rank: 91
H412.DE Martin Ratio Rank: 89

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.

JRUD.DE vs. H412.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) and HSBC USA Sustainable Equity UCITS ETF USD (H412.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.

	JRUD.DE	H412.DE	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.90	-0.76
Sortino ratio: Return per unit of downside risk	2.92	3.94	-1.03
Omega ratio: Gain probability vs. loss probability	1.40	1.54	-0.13
Calmar ratio: Return relative to maximum drawdown	3.55	5.88	-2.33
Martin ratio: Return relative to average drawdown	13.27	19.52	-6.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRUD.DE vs. H412.DE - Sharpe Ratio Comparison

The current JRUD.DE Sharpe Ratio is 2.14, which is comparable to the H412.DE Sharpe Ratio of 2.90. The chart below compares the historical Sharpe Ratios of JRUD.DE and H412.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

	JRUD.DE	H412.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.90	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.94	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	1.06	-0.23

Drawdowns

JRUD.DE vs. H412.DE - Drawdown Comparison

The maximum JRUD.DE drawdown since its inception was -34.16%, which is greater than H412.DE's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for JRUD.DE and H412.DE.

Drawdown Indicators

	JRUD.DE	H412.DE	Difference
Max Drawdown Largest peak-to-trough decline	-34.16%	-24.35%	-9.81%
Max Drawdown (1Y) Largest decline over 1 year	-6.86%	-5.54%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-23.42%	-24.35%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-23.42%	-24.35%	+0.93%
Current Drawdown Current decline from peak	-0.48%	0.00%	-0.48%
Average Drawdown Average peak-to-trough decline	-4.95%	-4.12%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	1.67%	+0.17%

Volatility

JRUD.DE vs. H412.DE - Volatility Comparison

The current volatility for JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) is 2.56%, while HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) has a volatility of 3.27%. This indicates that JRUD.DE experiences smaller price fluctuations and is considered to be less risky than H412.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRUD.DE	H412.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	3.27%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	7.70%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.40%	11.23%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	14.70%	+0.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.76%	14.81%	+2.95%

JRUD.DE vs. H412.DE - Expense Ratio Comparison

JRUD.DE has a 0.20% expense ratio, which is higher than H412.DE's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JRUD.DE vs. H412.DE - Dividend Comparison

JRUD.DE's dividend yield for the trailing twelve months is around 0.58%, while H412.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
H412.DE HSBC USA Sustainable Equity UCITS ETF USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JRUD.DE JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	0.58%	0.57%	0.44%	0.78%	0.88%	0.65%

Frequently Asked Questions

Can I hold both JRUD.DE and H412.DE in my portfolio?

With a correlation of 0.92, JRUD.DE and H412.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, JRUD.DE or H412.DE?

On fees, H412.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JRUD.DE or H412.DE?

H412.DE is cheaper with a 0.12% expense ratio, compared with 0.20% for JRUD.DE.

What is the main difference between JRUD.DE and H412.DE?

JRUD.DE tracks JP Morgan US Research Enhanced Index Equity (ESG), while H412.DE tracks FTSE USA ESG Low Carbon Select. They also come from different issuers: JPMorgan and HSBC. Their fees differ too: 0.20% for JRUD.DE and 0.12% for H412.DE.