SPYF.DE vs. H4ZA.DE
SPYF.DE (SPDR FTSE UK All Share UCITS ETF) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both Europe Equities funds - SPYF.DE tracks the FTSE All-Share while H4ZA.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 10 years, SPYF.DE returned 7.48%/yr vs 10.80%/yr for H4ZA.DE. A 0.78 correlation means they provide meaningful diversification when combined. SPYF.DE charges 0.20%/yr vs 0.05%/yr for H4ZA.DE.
Performance
SPYF.DE vs. H4ZA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYF.DE achieves a 6.71% return, which is significantly lower than H4ZA.DE's 7.24% return. Over the past 10 years, SPYF.DE has underperformed H4ZA.DE with an annualized return of 7.48%, while H4ZA.DE has yielded a comparatively higher 10.80% annualized return.
SPYF.DE
- 1D
- 0.16%
- 1M
- -0.06%
- YTD
- 6.71%
- 6M
- 9.71%
- 1Y
- 17.02%
- 3Y*
- 13.97%
- 5Y*
- 10.06%
- 10Y*
- 7.48%
H4ZA.DE
- 1D
- 0.77%
- 1M
- 1.94%
- YTD
- 7.24%
- 6M
- 8.59%
- 1Y
- 15.63%
- 3Y*
- 16.60%
- 5Y*
- 12.12%
- 10Y*
- 10.80%
SPYF.DE vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYF.DE SPDR FTSE UK All Share UCITS ETF | 6.71% | 17.92% | 13.59% | 10.43% | -5.65% | 24.46% | -14.12% | 27.89% | -11.60% | 9.17% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 7.24% | 22.26% | 13.81% | 22.59% | -8.87% | 23.72% | -2.73% | 30.07% | -11.96% | 10.07% |
Correlation
The correlation between SPYF.DE and H4ZA.DE is 0.70, 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 | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2012 | 0.78 |
The correlation between SPYF.DE and H4ZA.DE has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.
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Return for Risk
SPYF.DE vs. H4ZA.DE — Risk / Return Rank
SPYF.DE
H4ZA.DE
SPYF.DE vs. H4ZA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE UK All Share UCITS ETF (SPYF.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.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.
| SPYF.DE | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.18 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 1.43 | +0.81 |
| Martin ratioReturn relative to average drawdown | 7.97 | 4.85 | +3.12 |
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
| SPYF.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.43 | 0.98 | +0.45 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.69 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.59 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.41 | +0.05 |
Drawdowns
SPYF.DE vs. H4ZA.DE - Drawdown Comparison
The maximum SPYF.DE drawdown since its inception was -41.53%, which is greater than H4ZA.DE's maximum drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for SPYF.DE and H4ZA.DE.
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Drawdown Indicators
| SPYF.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.53% | -38.41% | -3.12% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -10.97% | +3.37% |
Max Drawdown (3Y)Largest decline over 3 years | -17.17% | -16.40% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -17.17% | -23.26% | +6.09% |
Max Drawdown (10Y)Largest decline over 10 years | -41.53% | -38.41% | -3.12% |
Current DrawdownCurrent decline from peak | -2.22% | -0.50% | -1.72% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -7.84% | +1.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 3.24% | -1.10% |
Volatility
SPYF.DE vs. H4ZA.DE - Volatility Comparison
The current volatility for SPDR FTSE UK All Share UCITS ETF (SPYF.DE) is 4.30%, while HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) has a volatility of 4.95%. This indicates that SPYF.DE experiences smaller price fluctuations and is considered to be less risky than H4ZA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYF.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 4.95% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 12.99% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.95% | 15.99% | -4.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.00% | 17.50% | -3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.59% | 18.17% | -1.58% |
SPYF.DE vs. H4ZA.DE - Expense Ratio Comparison
SPYF.DE has a 0.20% expense ratio, which is higher than H4ZA.DE's 0.05% 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
SPYF.DE vs. H4ZA.DE - Dividend Comparison
SPYF.DE has not paid dividends to shareholders, while H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.44% | 2.49% | 5.35% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
SPYF.DE SPDR FTSE UK All Share UCITS ETF | 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
SPYF.DE and H4ZA.DE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZA.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 0.20% for SPYF.DE.
SPYF.DE tracks FTSE All-Share, while H4ZA.DE tracks EURO STOXX® 50. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.20% for SPYF.DE and 0.05% for H4ZA.DE.
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