XBAK.DE vs. H4Z3.DE
XBAK.DE (Xtrackers MSCI Pakistan Swap UCITS ETF (Acc)) and H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - XBAK.DE tracks the MSCI Pakistan Investable Market Index while H4Z3.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 3 years, XBAK.DE returned 41.08%/yr vs 19.25%/yr for H4Z3.DE. At a 0.20 correlation, their price movements are largely independent. XBAK.DE charges 0.85%/yr vs 0.15%/yr for H4Z3.DE.
Performance
XBAK.DE vs. H4Z3.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 H4Z3.DE's 25.10% 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%
H4Z3.DE
- 1D
- 0.00%
- 1M
- -3.70%
- 6M
- 22.51%
- YTD
- 25.10%
- 1Y
- 42.87%
- 3Y*
- 19.25%
- 5Y*
- —
- 10Y*
- —
XBAK.DE vs. H4Z3.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% | -15.11% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 25.10% | 18.60% | 13.73% | 4.66% | -5.78% |
Correlation
The correlation between XBAK.DE and H4Z3.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022 | 0.20 |
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Return for Risk
XBAK.DE vs. H4Z3.DE — Risk / Return Rank
XBAK.DE
H4Z3.DE
XBAK.DE vs. H4Z3.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 UCITS ETF USD (Acc) (H4Z3.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 | H4Z3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.08 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.40 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.47 | 4.11 | -2.64 |
| Martin ratioReturn relative to average drawdown | 3.81 | 13.45 | -9.65 |
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Drawdowns
XBAK.DE vs. H4Z3.DE - Drawdown Comparison
The maximum XBAK.DE drawdown since its inception was -79.30%, which is greater than H4Z3.DE's maximum drawdown of -18.86%. Use the drawdown chart below to compare losses from any high point for XBAK.DE and H4Z3.DE.
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Drawdown Indicators
| XBAK.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.30% | -18.86% | -60.44% |
Max Drawdown (1Y)Largest decline over 1 year | -23.67% | -10.47% | -13.20% |
Max Drawdown (3Y)Largest decline over 3 years | -23.67% | -18.86% | -4.81% |
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% | -7.16% | -25.34% |
Average DrawdownAverage peak-to-trough decline | -37.83% | -4.93% | -32.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.17% | 3.20% | +5.97% |
Volatility
XBAK.DE vs. H4Z3.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Pakistan Swap UCITS ETF (Acc) (XBAK.DE) is 5.51%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a volatility of 9.16%. This indicates that XBAK.DE experiences smaller price fluctuations and is considered to be less risky than H4Z3.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 | H4Z3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.51% | 9.16% | -3.65% |
Volatility (6M)Calculated over the trailing 6-month period | 24.19% | 17.05% | +7.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.00% | 19.45% | +8.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.55% | 16.24% | +8.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.55% | 16.24% | +8.31% |
XBAK.DE vs. H4Z3.DE - Expense Ratio Comparison
XBAK.DE has a 0.85% expense ratio, which is higher than H4Z3.DE's 0.15% expense ratio.
Dividends
XBAK.DE vs. H4Z3.DE - Dividend Comparison
Neither XBAK.DE nor H4Z3.DE has paid dividends to shareholders.
Frequently Asked Questions
XBAK.DE and H4Z3.DE have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4Z3.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4Z3.DE is cheaper with a 0.15% expense ratio, compared with 0.85% for XBAK.DE.
XBAK.DE tracks MSCI Pakistan Investable Market Index, while H4Z3.DE tracks MSCI Emerging Markets. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.85% for XBAK.DE and 0.15% for H4Z3.DE.
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