XMKA.DE vs. H4Z3.DE
XMKA.DE (Xtrackers MSCI Africa Top 50 Swap UCITS ETF (Acc)) and H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - XMKA.DE tracks the MSCI EFM Africa Top 50 Capped Index while H4Z3.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 3 years, XMKA.DE returned 15.85%/yr vs 19.25%/yr for H4Z3.DE. At a 0.46 correlation, their price movements are largely independent. XMKA.DE charges 0.65%/yr vs 0.15%/yr for H4Z3.DE.
Performance
XMKA.DE vs. H4Z3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XMKA.DE achieves a 0.44% return, which is significantly lower than H4Z3.DE's 25.10% return.
XMKA.DE
- 1D
- 0.77%
- 1M
- 2.33%
- 6M
- -1.39%
- YTD
- 0.44%
- 1Y
- 18.36%
- 3Y*
- 15.85%
- 5Y*
- 6.25%
- 10Y*
- 3.73%
H4Z3.DE
- 1D
- 0.00%
- 1M
- -3.70%
- 6M
- 22.51%
- YTD
- 25.10%
- 1Y
- 42.87%
- 3Y*
- 19.25%
- 5Y*
- —
- 10Y*
- —
XMKA.DE vs. H4Z3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XMKA.DE Xtrackers MSCI Africa Top 50 Swap UCITS ETF (Acc) | 0.44% | 36.20% | 10.13% | -6.42% | 2.19% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 25.10% | 18.60% | 13.73% | 4.66% | -5.78% |
Correlation
The correlation between XMKA.DE and H4Z3.DE is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2022 | 0.46 |
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Return for Risk
XMKA.DE vs. H4Z3.DE — Risk / Return Rank
XMKA.DE
H4Z3.DE
XMKA.DE vs. H4Z3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Africa Top 50 Swap UCITS ETF (Acc) (XMKA.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.
| XMKA.DE | H4Z3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.30 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.13 | 4.11 | -2.99 |
| Martin ratioReturn relative to average drawdown | 2.77 | 13.45 | -10.69 |
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Drawdowns
XMKA.DE vs. H4Z3.DE - Drawdown Comparison
The maximum XMKA.DE drawdown since its inception was -51.47%, 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 XMKA.DE and H4Z3.DE.
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Drawdown Indicators
| XMKA.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.47% | -18.86% | -32.61% |
Max Drawdown (1Y)Largest decline over 1 year | -16.24% | -10.47% | -5.77% |
Max Drawdown (3Y)Largest decline over 3 years | -16.24% | -18.86% | +2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.21% | — | — |
Current DrawdownCurrent decline from peak | -9.25% | -7.16% | -2.09% |
Average DrawdownAverage peak-to-trough decline | -22.03% | -4.93% | -17.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.62% | 3.20% | +3.42% |
Volatility
XMKA.DE vs. H4Z3.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Africa Top 50 Swap UCITS ETF (Acc) (XMKA.DE) is 6.54%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a volatility of 9.16%. This indicates that XMKA.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
| XMKA.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 9.16% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 17.08% | 17.05% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.98% | 19.45% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.07% | 16.24% | +3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 16.24% | +5.47% |
XMKA.DE vs. H4Z3.DE - Expense Ratio Comparison
XMKA.DE has a 0.65% expense ratio, which is higher than H4Z3.DE's 0.15% expense ratio.
Dividends
XMKA.DE vs. H4Z3.DE - Dividend Comparison
Neither XMKA.DE nor H4Z3.DE has paid dividends to shareholders.
Frequently Asked Questions
XMKA.DE and H4Z3.DE have a correlation of 0.49, 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 0.65% for XMKA.DE.
XMKA.DE tracks MSCI EFM Africa Top 50 Capped Index, while H4Z3.DE tracks MSCI Emerging Markets. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.65% for XMKA.DE and 0.15% for H4Z3.DE.
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