XBAK.DE vs. H41E.DE
XBAK.DE (Xtrackers MSCI Pakistan Swap UCITS ETF (Acc)) and H41E.DE (HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - XBAK.DE tracks the MSCI Pakistan Investable Market Index while H41E.DE tracks the MSCI Emerging Markets Value SRI ESG Target Select. Both are passively managed. Over the past 3 years, XBAK.DE returned 41.08%/yr vs 26.60%/yr for H41E.DE. At a 0.17 correlation, their price movements are largely independent. XBAK.DE charges 0.85%/yr vs 0.35%/yr for H41E.DE.
Performance
XBAK.DE vs. H41E.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XBAK.DE achieves a 5.19% return, which is significantly lower than H41E.DE's 36.54% return.
XBAK.DE
- 1D
- 0.62%
- 1M
- 10.20%
- 6M
- 2.53%
- YTD
- 5.19%
- 1Y
- 35.00%
- 3Y*
- 41.08%
- 5Y*
- 10.75%
- 10Y*
- -1.05%
H41E.DE
- 1D
- 0.00%
- 1M
- -3.57%
- 6M
- 33.19%
- YTD
- 36.54%
- 1Y
- 60.16%
- 3Y*
- 26.60%
- 5Y*
- —
- 10Y*
- —
XBAK.DE vs. H41E.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XBAK.DE Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) | 5.19% | 20.31% | 75.92% | 15.36% | -6.24% |
H41E.DE HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) | 36.54% | 22.02% | 17.74% | 11.43% | -2.13% |
Correlation
The correlation between XBAK.DE and H41E.DE is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 2022 | 0.17 |
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Return for Risk
XBAK.DE vs. H41E.DE — Risk / Return Rank
XBAK.DE
H41E.DE
XBAK.DE vs. H41E.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) and HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.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.
| XBAK.DE | H41E.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.54 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 6.17 | -4.70 |
| Martin ratioReturn relative to average drawdown | 3.81 | 19.26 | -15.45 |
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Drawdowns
XBAK.DE vs. H41E.DE - Drawdown Comparison
The maximum XBAK.DE drawdown since its inception was -79.30%, which is greater than H41E.DE's maximum drawdown of -20.92%. Use the drawdown chart below to compare losses from any high point for XBAK.DE and H41E.DE.
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Drawdown Indicators
| XBAK.DE | H41E.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -20.92% | -58.38% |
Max Drawdown (1Y)Largest decline over 1 year | -23.67% | -9.80% | -13.87% |
Max Drawdown (3Y)Largest decline over 3 years | -23.67% | -20.92% | -2.75% |
Max Drawdown (5Y)Largest decline over 5 years | -49.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -79.30% | — | — |
Current DrawdownCurrent decline from peak | -32.50% | -8.20% | -24.30% |
Average DrawdownAverage peak-to-trough decline | -37.83% | -3.13% | -34.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.17% | 3.13% | +6.04% |
Volatility
XBAK.DE vs. H41E.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) is 5.51%, while HSBC MSCI Emerging Markets Value ESG UCITS ETF USD (Acc) (H41E.DE) has a volatility of 9.36%. This indicates that XBAK.DE experiences smaller price fluctuations and is considered to be less risky than H41E.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBAK.DE | H41E.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 9.36% | -3.85% |
Volatility (6M)Calculated over the trailing 6-month period | 24.19% | 16.87% | +7.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 19.74% | +8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.55% | 16.62% | +7.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.55% | 16.62% | +7.93% |
XBAK.DE vs. H41E.DE - Expense Ratio Comparison
XBAK.DE has a 0.85% expense ratio, which is higher than H41E.DE's 0.35% expense ratio.
Dividends
XBAK.DE vs. H41E.DE - Dividend Comparison
Neither XBAK.DE nor H41E.DE has paid dividends to shareholders.
Frequently Asked Questions
XBAK.DE and H41E.DE have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H41E.DE is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H41E.DE is cheaper with a 0.35% expense ratio, compared with 0.85% for XBAK.DE.
XBAK.DE tracks MSCI Pakistan Investable Market Index, while H41E.DE tracks MSCI Emerging Markets Value SRI ESG Target Select. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.85% for XBAK.DE and 0.35% for H41E.DE.
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