XYP1.DE vs. H4ZK.DE
XYP1.DE (Xtrackers Eurozone Government Bond Yield Plus 1-3 UCITS ETF) and H4ZK.DE (HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR) are both European Government Bonds funds - XYP1.DE tracks the iBoxx® EUR Sovereigns Eurozone Yield Plus 1-3 while H4ZK.DE tracks the Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. Both are passively managed. Over the past year, XYP1.DE returned 0.74% vs 0.79% for H4ZK.DE. A 0.51 correlation means they provide meaningful diversification when combined. XYP1.DE charges 0.15%/yr vs 0.14%/yr for H4ZK.DE.
Performance
XYP1.DE vs. H4ZK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XYP1.DE achieves a 0.13% return, which is significantly lower than H4ZK.DE's 0.20% return.
XYP1.DE
- 1D
- 0.00%
- 1M
- -0.16%
- 6M
- -0.06%
- YTD
- 0.13%
- 1Y
- 0.74%
- 3Y*
- 2.87%
- 5Y*
- 0.88%
- 10Y*
- 0.56%
H4ZK.DE
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 0.10%
- YTD
- 0.20%
- 1Y
- 0.79%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XYP1.DE vs. H4ZK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XYP1.DE Xtrackers Eurozone Government Bond Yield Plus 1-3 UCITS ETF | 0.13% | 2.43% |
H4ZK.DE HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR | 0.20% | 2.30% |
Correlation
The correlation between XYP1.DE and H4ZK.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2025 | 0.51 |
The correlation between XYP1.DE and H4ZK.DE has been stable across timeframes, ranging from 0.43 to 0.51 - a consistent structural relationship.
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Return for Risk
XYP1.DE vs. H4ZK.DE — Risk / Return Rank
XYP1.DE
H4ZK.DE
XYP1.DE vs. H4ZK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers Eurozone Government Bond Yield Plus 1-3 UCITS ETF (XYP1.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.
| XYP1.DE | H4ZK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.13 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | 0.62 | -0.09 |
| Martin ratioReturn relative to average drawdown | 1.60 | 2.06 | -0.46 |
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Drawdowns
XYP1.DE vs. H4ZK.DE - Drawdown Comparison
The maximum XYP1.DE drawdown since its inception was -5.77%, 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 XYP1.DE and H4ZK.DE.
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Drawdown Indicators
| XYP1.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.77% | -1.26% | -4.51% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -1.26% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -1.39% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.53% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.77% | — | — |
Current DrawdownCurrent decline from peak | -0.52% | -0.29% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -0.92% | -0.19% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.46% | 0.38% | +0.08% |
Volatility
XYP1.DE vs. H4ZK.DE - Volatility Comparison
Xtrackers Eurozone Government Bond Yield Plus 1-3 UCITS ETF (XYP1.DE) has a higher volatility of 0.43% compared to HSBC Euro Lower Carbon Government 1-3 Year Bond UCITS ETF C EUR (H4ZK.DE) at 0.40%. This indicates that XYP1.DE's price experiences larger fluctuations and is considered to be riskier than H4ZK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XYP1.DE | H4ZK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.43% | 0.40% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.31% | 1.23% | +0.08% |
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 | 1.76% | 1.39% | +0.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.02% | 1.39% | +0.63% |
XYP1.DE vs. H4ZK.DE - Expense Ratio Comparison
XYP1.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
XYP1.DE vs. H4ZK.DE - Dividend Comparison
Neither XYP1.DE nor H4ZK.DE has paid dividends to shareholders.
Frequently Asked Questions
XYP1.DE and H4ZK.DE have a correlation of 0.43, 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 XYP1.DE.
XYP1.DE tracks iBoxx® EUR Sovereigns Eurozone Yield Plus 1-3, while H4ZK.DE tracks Bloomberg Euro Treasury 1-3 Year Carbon Tilted Index. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.15% for XYP1.DE and 0.14% for H4ZK.DE.
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