SYB3.DE vs. H4ZK.DE
SYB3.DE (SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - SYB3.DE tracks the Bloomberg Euro 1-3 Year Treasury Bond while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, SYB3.DE returned 0.71% vs 0.79% for H4ZK.DE. A 0.50 correlation means they provide meaningful diversification when combined. SYB3.DE charges 0.15%/yr vs 0.14%/yr for H4ZK.DE.
Performance
SYB3.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SYB3.DE achieves a 0.15% return, which is significantly lower than H4ZK.DE's 0.20% return.
SYB3.DE
- 1D
- -0.02%
- 1M
- -0.11%
- 6M
- 0.02%
- YTD
- 0.15%
- 1Y
- 0.71%
- 3Y*
- 2.63%
- 5Y*
- 0.61%
- 10Y*
- 0.18%
H4ZK.DE
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.10%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SYB3.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SYB3.DE SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF | 0.15% | 2.41% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between SYB3.DE and H4ZK.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.50 |
The correlation between SYB3.DE and H4ZK.DE shifts across timeframes, from 0.40 (1 year) to 0.50 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SYB3.DE vs. H4ZK.DE — Risk / Return Rank
SYB3.DE
H4ZK.DE
SYB3.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.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.
| SYB3.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.13 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 0.62 | -0.07 |
| Martin ratioReturn relative to average drawdown | 1.63 | 2.06 | -0.43 |
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Drawdowns
SYB3.DE vs. H4ZK.DE - Drawdown Comparison
The maximum SYB3.DE drawdown since its inception was -7.13%, 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 SYB3.DE and H4ZK.DE.
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Drawdown Indicators
| SYB3.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.13% | -1.26% | -5.87% |
Max Drawdown (1Y)Largest decline over 1 year | -1.28% | -1.26% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.28% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -6.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -7.06% | — | — |
Current DrawdownCurrent decline from peak | -0.48% | -0.29% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -1.25% | -0.19% | -1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.38% | +0.05% |
Volatility
SYB3.DE vs. H4ZK.DE - Volatility Comparison
SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF (SYB3.DE) and HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) have volatilities of 0.40% and 0.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SYB3.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.40% | 0.40% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.30% | 1.23% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.43% | 1.38% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.68% | 1.39% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.49% | 1.39% | +0.10% |
SYB3.DE vs. H4ZK.DE - Expense Ratio Comparison
SYB3.DE has a 0.15% expense ratio, which is higher than H4ZK.DE's 0.14% 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
SYB3.DE vs. H4ZK.DE - Dividend Comparison
SYB3.DE's dividend yield for the trailing twelve months is around 2.28%, while H4ZK.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% | 0.00% |
SYB3.DE SPDR Bloomberg 1-3 Year Euro Government Bond UCITS ETF | 2.28% | 1.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.34% |
Frequently Asked Questions
SYB3.DE and H4ZK.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZK.DE is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZK.DE is cheaper with a 0.14% expense ratio, compared with 0.15% for SYB3.DE.
SYB3.DE tracks Bloomberg Euro 1-3 Year Treasury Bond, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.15% for SYB3.DE and 0.14% for H4ZK.DE.
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