XESP.DE vs. H4ZZ.DE
XESP.DE (Xtrackers Spanish Equity UCITS ETF) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - XESP.DE tracks the Solactive Spain 40 while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past year, XESP.DE returned 48.43% vs 22.41% for H4ZZ.DE. A 0.79 correlation means they provide meaningful diversification when combined. XESP.DE charges 0.30%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
XESP.DE vs. H4ZZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XESP.DE achieves a 14.86% return, which is significantly higher than H4ZZ.DE's 10.19% return.
XESP.DE
- 1D
- 0.87%
- 1M
- 6.89%
- YTD
- 14.86%
- 6M
- 15.90%
- 1Y
- 48.43%
- 3Y*
- 32.37%
- 5Y*
- 20.37%
- 10Y*
- 14.03%
H4ZZ.DE
- 1D
- 0.79%
- 1M
- 3.49%
- YTD
- 10.19%
- 6M
- 11.16%
- 1Y
- 22.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XESP.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
XESP.DE Xtrackers Spanish Equity UCITS ETF | 14.86% | 58.64% | 0.17% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 10.19% | 22.35% | -2.42% |
Correlation
The correlation between XESP.DE and H4ZZ.DE is 0.82, 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 | 0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2024 | 0.79 |
The correlation between XESP.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.
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Return for Risk
XESP.DE vs. H4ZZ.DE — Risk / Return Rank
XESP.DE
H4ZZ.DE
XESP.DE vs. H4ZZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Spanish Equity UCITS ETF (XESP.DE) and HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.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.
| XESP.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.71 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.26 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 4.74 | 2.04 | +2.70 |
| Martin ratioReturn relative to average drawdown | 16.84 | 7.07 | +9.77 |
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Drawdowns
XESP.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum XESP.DE drawdown since its inception was -40.70%, which is greater than H4ZZ.DE's maximum drawdown of -16.46%. Use the drawdown chart below to compare losses from any high point for XESP.DE and H4ZZ.DE.
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Drawdown Indicators
| XESP.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.70% | -16.46% | -24.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.17% | -10.94% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -12.92% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.56% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.03% | — | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.83% | +0.73% |
Average DrawdownAverage peak-to-trough decline | -10.06% | -2.66% | -7.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 3.16% | -0.29% |
Volatility
XESP.DE vs. H4ZZ.DE - Volatility Comparison
Xtrackers Spanish Equity UCITS ETF (XESP.DE) has a higher volatility of 4.20% compared to HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) at 3.53%. This indicates that XESP.DE's price experiences larger fluctuations and is considered to be riskier than H4ZZ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XESP.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 3.53% | +0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 14.44% | 13.18% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.00% | 15.98% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.73% | 16.81% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.44% | 16.81% | +1.63% |
XESP.DE vs. H4ZZ.DE - Expense Ratio Comparison
XESP.DE has a 0.30% expense ratio, which is higher than H4ZZ.DE's 0.05% expense ratio.
Dividends
XESP.DE vs. H4ZZ.DE - Dividend Comparison
Neither XESP.DE nor H4ZZ.DE has paid dividends to shareholders.
Frequently Asked Questions
XESP.DE and H4ZZ.DE have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, H4ZZ.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZZ.DE is cheaper with a 0.05% expense ratio, compared with 0.30% for XESP.DE.
XESP.DE tracks Solactive Spain 40, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.30% for XESP.DE and 0.05% for H4ZZ.DE.
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