XZEM.DE vs. H4Z3.DE
XZEM.DE (Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C) and H4Z3.DE (HSBC MSCI Emerging Markets UCITS ETF USD (Acc)) are both Emerging Markets Equities funds - XZEM.DE tracks the MSCI Emerging Markets Low Carbon SRI Leaders while H4Z3.DE tracks the MSCI Emerging Markets. Both are passively managed. Over the past 3 years, XZEM.DE returned 14.21%/yr vs 20.42%/yr for H4Z3.DE. Their correlation of 0.94 suggests significant overlap in exposure. XZEM.DE charges 0.25%/yr vs 0.15%/yr for H4Z3.DE.
Performance
XZEM.DE vs. H4Z3.DE - Performance Comparison
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Returns By Period
In the year-to-date period, XZEM.DE achieves a 11.70% return, which is significantly lower than H4Z3.DE's 27.75% return.
XZEM.DE
- 1D
- -1.27%
- 1M
- 1.22%
- YTD
- 11.70%
- 6M
- 11.70%
- 1Y
- 27.23%
- 3Y*
- 14.21%
- 5Y*
- 3.14%
- 10Y*
- —
H4Z3.DE
- 1D
- -1.67%
- 1M
- 6.24%
- YTD
- 27.75%
- 6M
- 29.51%
- 1Y
- 50.16%
- 3Y*
- 20.42%
- 5Y*
- —
- 10Y*
- —
XZEM.DE vs. H4Z3.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
XZEM.DE Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C | 11.70% | 16.53% | 16.91% | 0.19% | -7.84% |
H4Z3.DE HSBC MSCI Emerging Markets UCITS ETF USD (Acc) | 27.75% | 18.60% | 13.73% | 4.66% | -6.26% |
Correlation
The correlation between XZEM.DE and H4Z3.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.94 |
The correlation between XZEM.DE and H4Z3.DE has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
XZEM.DE vs. H4Z3.DE — Risk / Return Rank
XZEM.DE
H4Z3.DE
XZEM.DE vs. H4Z3.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XZEM.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.
| XZEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.52 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 4.77 | -2.20 |
| Martin ratioReturn relative to average drawdown | 8.36 | 17.12 | -8.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XZEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.60 | 2.85 | -1.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.91 | -0.63 |
Drawdowns
XZEM.DE vs. H4Z3.DE - Drawdown Comparison
The maximum XZEM.DE drawdown since its inception was -37.16%, 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 XZEM.DE and H4Z3.DE.
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Drawdown Indicators
| XZEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.16% | -18.86% | -18.30% |
Max Drawdown (1Y)Largest decline over 1 year | -10.55% | -10.47% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -20.90% | -18.86% | -2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -32.73% | — | — |
Current DrawdownCurrent decline from peak | -3.21% | -2.73% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -16.68% | -4.95% | -11.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 2.92% | +0.33% |
Volatility
XZEM.DE vs. H4Z3.DE - Volatility Comparison
The current volatility for Xtrackers MSCI Emerging Markets ESG UCITS ETF 1C (XZEM.DE) is 5.92%, while HSBC MSCI Emerging Markets UCITS ETF USD (Acc) (H4Z3.DE) has a volatility of 7.35%. This indicates that XZEM.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
| XZEM.DE | H4Z3.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.92% | 7.35% | -1.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.59% | 14.91% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 17.54% | -0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.53% | 15.77% | +2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.72% | 15.77% | +4.95% |
XZEM.DE vs. H4Z3.DE - Expense Ratio Comparison
XZEM.DE has a 0.25% expense ratio, which is higher than H4Z3.DE's 0.15% 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
XZEM.DE vs. H4Z3.DE - Dividend Comparison
Neither XZEM.DE nor H4Z3.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, XZEM.DE and H4Z3.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
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 0.25% for XZEM.DE.
XZEM.DE tracks MSCI Emerging Markets Low Carbon SRI Leaders, while H4Z3.DE tracks MSCI Emerging Markets. They also come from different issuers: Xtrackers and HSBC. Their fees differ too: 0.25% for XZEM.DE and 0.15% for H4Z3.DE.
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