PR1R.DE vs. H4ZK.DE
PR1R.DE (Amundi Prime Euro Govies UCITS ETF DR (D)) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - PR1R.DE tracks the Solactive Eurozone Government Bond while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, PR1R.DE returned 0.12% vs 0.79% for H4ZK.DE. A 0.52 correlation means they provide meaningful diversification when combined. PR1R.DE charges 0.05%/yr vs 0.14%/yr for H4ZK.DE.
Performance
PR1R.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, PR1R.DE achieves a -0.30% return, which is significantly lower than H4ZK.DE's 0.20% return.
PR1R.DE
- 1D
- 0.00%
- 1M
- -1.17%
- 6M
- -0.82%
- YTD
- -0.30%
- 1Y
- 0.12%
- 3Y*
- 2.00%
- 5Y*
- -2.59%
- 10Y*
- —
H4ZK.DE
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.10%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PR1R.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PR1R.DE Amundi Prime Euro Govies UCITS ETF DR (D) | -0.30% | 1.47% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between PR1R.DE and H4ZK.DE is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.52 |
The correlation between PR1R.DE and H4ZK.DE has been stable across timeframes, ranging from 0.44 to 0.52 - a consistent structural relationship.
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Return for Risk
PR1R.DE vs. H4ZK.DE — Risk / Return Rank
PR1R.DE
H4ZK.DE
PR1R.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Prime Euro Govies UCITS ETF DR (D) (PR1R.DE) and HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PR1R.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.13 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 0.62 | -0.59 |
| Martin ratioReturn relative to average drawdown | 0.08 | 2.06 | -1.98 |
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Drawdowns
PR1R.DE vs. H4ZK.DE - Drawdown Comparison
The maximum PR1R.DE drawdown since its inception was -22.31%, which is greater than H4ZK.DE's maximum drawdown of -1.26%. Use the drawdown chart below to compare losses from any high point for PR1R.DE and H4ZK.DE.
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Drawdown Indicators
| PR1R.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.31% | -1.26% | -21.05% |
Max Drawdown (1Y)Largest decline over 1 year | -3.36% | -1.26% | -2.10% |
Max Drawdown (3Y)Largest decline over 3 years | -4.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.44% | — | — |
Current DrawdownCurrent decline from peak | -14.28% | -0.29% | -13.99% |
Average DrawdownAverage peak-to-trough decline | -10.31% | -0.19% | -10.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 0.38% | +1.03% |
Volatility
PR1R.DE vs. H4ZK.DE - Volatility Comparison
Amundi Prime Euro Govies UCITS ETF DR (D) (PR1R.DE) has a higher volatility of 1.22% compared to HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) at 0.40%. This indicates that PR1R.DE's price experiences larger fluctuations and is considered to be riskier than H4ZK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PR1R.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.22% | 0.40% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 3.76% | 1.23% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.42% | 1.38% | +3.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.36% | 1.39% | +4.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 1.39% | +4.51% |
PR1R.DE vs. H4ZK.DE - Expense Ratio Comparison
PR1R.DE has a 0.05% expense ratio, which is lower than H4ZK.DE's 0.14% 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
PR1R.DE vs. H4ZK.DE - Dividend Comparison
PR1R.DE's dividend yield for the trailing twelve months is around 2.73%, while H4ZK.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PR1R.DE Amundi Prime Euro Govies UCITS ETF DR (D) | 2.73% | 2.72% | 2.08% | 1.90% | 1.87% | 1.55% | 1.66% | 1.05% |
Frequently Asked Questions
PR1R.DE and H4ZK.DE have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PR1R.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PR1R.DE is cheaper with a 0.05% expense ratio, compared with 0.14% for H4ZK.DE.
PR1R.DE tracks Solactive Eurozone Government Bond, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.05% for PR1R.DE and 0.14% for H4ZK.DE.
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