ZPAB.DE vs. H4ZA.DE
ZPAB.DE (Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc) and H4ZA.DE (HSBC EURO STOXX 50 UCITS ETF EUR) are both Europe Equities funds - ZPAB.DE tracks the S&P Eurozone LargeMidCap Paris-Aligned Climate while H4ZA.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 5 years, ZPAB.DE returned 9.80%/yr vs 12.12%/yr for H4ZA.DE. With a 0.97 correlation, they move nearly in lockstep. ZPAB.DE charges 0.20%/yr vs 0.05%/yr for H4ZA.DE.
Performance
ZPAB.DE vs. H4ZA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPAB.DE achieves a 6.68% return, which is significantly lower than H4ZA.DE's 7.24% return.
ZPAB.DE
- 1D
- 0.88%
- 1M
- 6.30%
- YTD
- 6.68%
- 6M
- 8.24%
- 1Y
- 13.99%
- 3Y*
- 16.18%
- 5Y*
- 9.80%
- 10Y*
- —
H4ZA.DE
- 1D
- 0.77%
- 1M
- 4.72%
- YTD
- 7.24%
- 6M
- 8.63%
- 1Y
- 15.73%
- 3Y*
- 16.60%
- 5Y*
- 12.12%
- 10Y*
- 10.80%
ZPAB.DE vs. H4ZA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ZPAB.DE Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc | 6.68% | 22.02% | 13.92% | 22.06% | -17.12% | 24.77% | 7.73% |
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 7.24% | 22.26% | 13.81% | 22.59% | -8.87% | 23.72% | 6.38% |
Correlation
The correlation between ZPAB.DE and H4ZA.DE is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2020 | 0.97 |
The correlation between ZPAB.DE and H4ZA.DE has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
ZPAB.DE vs. H4ZA.DE — Risk / Return Rank
ZPAB.DE
H4ZA.DE
ZPAB.DE vs. H4ZA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc (ZPAB.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.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.
| ZPAB.DE | H4ZA.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.11 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.25 | 1.43 | -0.18 |
| Martin ratioReturn relative to average drawdown | 4.35 | 4.85 | -0.49 |
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
| ZPAB.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.98 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.69 | -0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.59 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.74 | 0.41 | +0.33 |
Drawdowns
ZPAB.DE vs. H4ZA.DE - Drawdown Comparison
The maximum ZPAB.DE drawdown since its inception was -28.68%, smaller than the maximum H4ZA.DE drawdown of -38.41%. Use the drawdown chart below to compare losses from any high point for ZPAB.DE and H4ZA.DE.
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Drawdown Indicators
| ZPAB.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.68% | -38.41% | +9.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.18% | -10.97% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -16.26% | -16.40% | +0.14% |
Max Drawdown (5Y)Largest decline over 5 years | -28.68% | -23.26% | -5.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.41% | — |
Current DrawdownCurrent decline from peak | -0.10% | -0.50% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -7.84% | +2.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.24% | -0.03% |
Volatility
ZPAB.DE vs. H4ZA.DE - Volatility Comparison
Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc (ZPAB.DE) and HSBC EURO STOXX 50 UCITS ETF EUR (H4ZA.DE) have volatilities of 5.16% and 4.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ZPAB.DE | H4ZA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 4.95% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 13.16% | 12.99% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 15.99% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.10% | 17.50% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.97% | 18.17% | -1.20% |
ZPAB.DE vs. H4ZA.DE - Expense Ratio Comparison
ZPAB.DE has a 0.20% expense ratio, which is higher than H4ZA.DE's 0.05% 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
ZPAB.DE vs. H4ZA.DE - Dividend Comparison
ZPAB.DE has not paid dividends to shareholders, while H4ZA.DE's dividend yield for the trailing twelve months is around 2.44%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZA.DE HSBC EURO STOXX 50 UCITS ETF EUR | 2.44% | 2.49% | 5.35% | 2.93% | 2.94% | 1.94% | 2.06% | 2.84% | 3.55% | 2.73% | 2.85% | 2.70% |
ZPAB.DE Amundi S&P Eurozone PAB Net Zero Ambition UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, ZPAB.DE and H4ZA.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, H4ZA.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
H4ZA.DE is cheaper with a 0.05% expense ratio, compared with 0.20% for ZPAB.DE.
ZPAB.DE tracks S&P Eurozone LargeMidCap Paris-Aligned Climate, while H4ZA.DE tracks EURO STOXX® 50. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.20% for ZPAB.DE and 0.05% for H4ZA.DE.
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