OP6E.DE vs. H410.DE

Last updated Jun 5, 2026

OP6E.DE (Ossiam Bloomberg Asia Pacific ex Japan PAB NR UCITS ETF (EUR)) and H410.DE (HSBC MSCI Emerging Markets UCITS ETF USD) are both Asia Pacific Equities funds - OP6E.DE tracks the Bloomberg PAB APAC DM ex-Japan Large & Mid Cap while H410.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 3 years, OP6E.DE returned 8.96%/yr vs 20.39%/yr for H410.DE. A 0.68 correlation means they provide meaningful diversification when combined. OP6E.DE charges 0.29%/yr vs 0.15%/yr for H410.DE.

Performance

OP6E.DE vs. H410.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Ossiam Bloomberg Asia Pacific ex Japan PAB NR UCITS ETF (EUR) (OP6E.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OP6E.DE achieves a 4.48% return, which is significantly lower than H410.DE's 27.49% return.

OP6E.DE

• 1D: -0.61%
• 1M: -3.04%
• YTD: 4.48%
• 6M: 5.94%
• 1Y: 7.51%
• 3Y*: 8.96%
• 5Y*: —
• 10Y*: —

H410.DE

• 1D: -1.81%
• 1M: 3.71%
• YTD: 27.49%
• 6M: 27.95%
• 1Y: 49.05%
• 3Y*: 20.39%
• 5Y*: 8.17%
• 10Y*: 9.77%

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

OP6E.DE vs. H410.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
OP6E.DE Ossiam Bloomberg Asia Pacific ex Japan PAB NR UCITS ETF (EUR)	4.48%	6.39%	15.17%	0.41%	-5.27%
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD	27.49%	18.61%	13.89%	4.66%	-8.68%

Correlation

The correlation between OP6E.DE and H410.DE is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (All Time) Calculated using the full available price history since Aug 23, 2022	0.68

The correlation between OP6E.DE and H410.DE shifts across timeframes, from 0.56 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

Return for Risk

OP6E.DE vs. H410.DE — Risk / Return Rank

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

OP6E.DE

OP6E.DE Risk / Return Rank: 22
OP6E.DE Sharpe Ratio Rank: 20
OP6E.DE Sortino Ratio Rank: 21
OP6E.DE Omega Ratio Rank: 19
OP6E.DE Calmar Ratio Rank: 25
OP6E.DE Martin Ratio Rank: 23

H410.DE

H410.DE Risk / Return Rank: 85
H410.DE Sharpe Ratio Rank: 86
H410.DE Sortino Ratio Rank: 85
H410.DE Omega Ratio Rank: 85
H410.DE Calmar Ratio Rank: 86
H410.DE Martin Ratio Rank: 84

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.

OP6E.DE vs. H410.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ossiam Bloomberg Asia Pacific ex Japan PAB NR UCITS ETF (EUR) (OP6E.DE) and HSBC MSCI Emerging Markets UCITS ETF USD (H410.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.

	OP6E.DE	H410.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.66	2.82	-2.16
Sortino ratio: Return per unit of downside risk	1.07	3.76	-2.69
Omega ratio: Gain probability vs. loss probability	1.12	1.51	-0.39
Calmar ratio: Return relative to maximum drawdown	1.13	4.75	-3.63
Martin ratio: Return relative to average drawdown	2.95	17.19	-14.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OP6E.DE vs. H410.DE - Sharpe Ratio Comparison

The current OP6E.DE Sharpe Ratio is 0.66, which is lower than the H410.DE Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of OP6E.DE and H410.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

	OP6E.DE	H410.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.66	2.82	-2.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.41	-0.05

Drawdowns

OP6E.DE vs. H410.DE - Drawdown Comparison

The maximum OP6E.DE drawdown since its inception was -18.34%, smaller than the maximum H410.DE drawdown of -36.25%. Use the drawdown chart below to compare losses from any high point for OP6E.DE and H410.DE.

Drawdown Indicators

	OP6E.DE	H410.DE	Difference
Max Drawdown Largest peak-to-trough decline	-18.34%	-36.25%	+17.91%
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	-10.48%	+3.76%
Max Drawdown (3Y) Largest decline over 3 years	-18.34%	-18.96%	+0.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.76%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.68%	—
Current Drawdown Current decline from peak	-4.43%	-2.80%	-1.63%
Average Drawdown Average peak-to-trough decline	-4.86%	-10.25%	+5.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	2.90%	-0.33%

Volatility

OP6E.DE vs. H410.DE - Volatility Comparison

The current volatility for Ossiam Bloomberg Asia Pacific ex Japan PAB NR UCITS ETF (EUR) (OP6E.DE) is 2.87%, while HSBC MSCI Emerging Markets UCITS ETF USD (H410.DE) has a volatility of 7.30%. This indicates that OP6E.DE experiences smaller price fluctuations and is considered to be less risky than H410.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OP6E.DE	H410.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	7.30%	-4.43%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	14.96%	-6.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.49%	17.70%	-6.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.75%	16.64%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.75%	18.17%	-3.42%

OP6E.DE vs. H410.DE - Expense Ratio Comparison

OP6E.DE has a 0.29% expense ratio, which is higher than H410.DE's 0.15% expense ratio.

Dividends

OP6E.DE vs. H410.DE - Dividend Comparison

OP6E.DE has not paid dividends to shareholders, while H410.DE's dividend yield for the trailing twelve months is around 1.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
H410.DE HSBC MSCI Emerging Markets UCITS ETF USD	1.60%	2.00%	2.40%	2.58%	3.11%	2.00%	1.69%	2.03%	2.20%	1.62%	1.71%	2.28%
OP6E.DE Ossiam Bloomberg Asia Pacific ex Japan PAB NR UCITS ETF (EUR)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OP6E.DE and H410.DE in my portfolio?

OP6E.DE and H410.DE have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OP6E.DE or H410.DE?

On fees, H410.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, OP6E.DE or H410.DE?

H410.DE is cheaper with a 0.15% expense ratio, compared with 0.29% for OP6E.DE.

What is the main difference between OP6E.DE and H410.DE?

OP6E.DE tracks Bloomberg PAB APAC DM ex-Japan Large & Mid Cap, while H410.DE tracks MSCI Emerging Markets. They also come from different issuers: Natixis and HSBC. Their fees differ too: 0.29% for OP6E.DE and 0.15% for H410.DE.