SXR4.DE vs. H412.DE
SXR4.DE (iShares MSCI USA UCITS ETF (Acc)) and H412.DE (HSBC USA Sustainable Equity UCITS ETF USD) are both Large Cap Blend Equities funds - SXR4.DE tracks the MSCI USA while H412.DE tracks the FTSE USA ESG Low Carbon Select. Both are passively managed. Over the past 5 years, SXR4.DE returned 14.32%/yr vs 13.98%/yr for H412.DE. With a 0.97 correlation, they move nearly in lockstep. SXR4.DE charges 0.07%/yr vs 0.12%/yr for H412.DE.
Performance
SXR4.DE vs. H412.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SXR4.DE achieves a 11.29% return, which is significantly lower than H412.DE's 15.33% return.
SXR4.DE
- 1D
- -0.10%
- 1M
- 4.53%
- YTD
- 11.29%
- 6M
- 10.68%
- 1Y
- 25.15%
- 3Y*
- 19.00%
- 5Y*
- 14.32%
- 10Y*
- 14.76%
H412.DE
- 1D
- 0.46%
- 1M
- 8.41%
- YTD
- 15.33%
- 6M
- 16.66%
- 1Y
- 32.69%
- 3Y*
- 18.35%
- 5Y*
- 13.98%
- 10Y*
- —
SXR4.DE vs. H412.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SXR4.DE iShares MSCI USA UCITS ETF (Acc) | 11.29% | 4.62% | 32.33% | 23.44% | -15.85% | 38.32% | 10.12% |
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 SXR4.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 SXR4.DE and H412.DE has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
SXR4.DE vs. H412.DE — Risk / Return Rank
SXR4.DE
H412.DE
SXR4.DE vs. H412.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI USA UCITS ETF (Acc) (SXR4.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.
| SXR4.DE | H412.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.54 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 5.88 | -2.46 |
| Martin ratioReturn relative to average drawdown | 11.92 | 19.52 | -7.60 |
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
| SXR4.DE | H412.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.15 | 2.90 | -0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.94 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.90 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 1.06 | -0.29 |
Drawdowns
SXR4.DE vs. H412.DE - Drawdown Comparison
The maximum SXR4.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 SXR4.DE and H412.DE.
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Drawdown Indicators
| SXR4.DE | H412.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.16% | -24.35% | -9.81% |
Max Drawdown (1Y)Largest decline over 1 year | -7.36% | -5.54% | -1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -23.63% | -24.35% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -23.63% | -24.35% | +0.72% |
Max Drawdown (10Y)Largest decline over 10 years | -34.16% | — | — |
Current DrawdownCurrent decline from peak | -0.40% | 0.00% | -0.40% |
Average DrawdownAverage peak-to-trough decline | -5.25% | -4.12% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 1.67% | +0.44% |
Volatility
SXR4.DE vs. H412.DE - Volatility Comparison
The current volatility for iShares MSCI USA UCITS ETF (Acc) (SXR4.DE) is 2.73%, while HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) has a volatility of 3.27%. This indicates that SXR4.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.
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Volatility by Period
| SXR4.DE | H412.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.73% | 3.27% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.68% | 7.70% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.70% | 11.23% | +0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.42% | 14.70% | +0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.23% | 14.81% | +1.42% |
SXR4.DE vs. H412.DE - Expense Ratio Comparison
SXR4.DE has a 0.07% expense ratio, which is lower than H412.DE's 0.12% 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
SXR4.DE vs. H412.DE - Dividend Comparison
Neither SXR4.DE nor H412.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, SXR4.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.
On fees, SXR4.DE is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SXR4.DE is cheaper with a 0.07% expense ratio, compared with 0.12% for H412.DE.
SXR4.DE tracks MSCI USA, while H412.DE tracks FTSE USA ESG Low Carbon Select. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.07% for SXR4.DE and 0.12% for H412.DE.
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