ZPRE.DE vs. H4ZZ.DE
ZPRE.DE (SPDR MSCI EMU UCITS ETF) and H4ZZ.DE (HSBC Euro Stoxx 50 UCITS ETF EUR (Acc)) are both Europe Equities funds - ZPRE.DE tracks the MSCI EMU while H4ZZ.DE tracks the EURO STOXX 50. Both are passively managed. Over the past 3 years, ZPRE.DE returned 15.98%/yr vs 15.64%/yr for H4ZZ.DE. With a 0.99 correlation, they move nearly in lockstep. ZPRE.DE charges 0.18%/yr vs 0.05%/yr for H4ZZ.DE.
Performance
ZPRE.DE vs. H4ZZ.DE - Performance Comparison
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Returns By Period
In the year-to-date period, ZPRE.DE achieves a 9.05% return, which is significantly higher than H4ZZ.DE's 7.20% return.
ZPRE.DE
- 1D
- 0.59%
- 1M
- 4.67%
- YTD
- 9.05%
- 6M
- 10.89%
- 1Y
- 18.16%
- 3Y*
- 15.98%
- 5Y*
- 10.50%
- 10Y*
- 9.98%
H4ZZ.DE
- 1D
- 0.77%
- 1M
- 4.70%
- YTD
- 7.20%
- 6M
- 8.61%
- 1Y
- 15.73%
- 3Y*
- 15.64%
- 5Y*
- —
- 10Y*
- —
ZPRE.DE vs. H4ZZ.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ZPRE.DE SPDR MSCI EMU UCITS ETF | 9.05% | 24.37% | 9.48% | 18.70% | 6.69% |
H4ZZ.DE HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) | 7.20% | 22.35% | 10.99% | 22.53% | 9.82% |
Correlation
The correlation between ZPRE.DE and H4ZZ.DE is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2022 | 0.99 |
The correlation between ZPRE.DE and H4ZZ.DE has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
ZPRE.DE vs. H4ZZ.DE — Risk / Return Rank
ZPRE.DE
H4ZZ.DE
ZPRE.DE vs. H4ZZ.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI EMU UCITS ETF (ZPRE.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.
| ZPRE.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.18 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.76 | 1.43 | +0.33 |
| Martin ratioReturn relative to average drawdown | 6.43 | 4.86 | +1.57 |
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
| ZPRE.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.25 | 0.98 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 1.18 | -0.64 |
Drawdowns
ZPRE.DE vs. H4ZZ.DE - Drawdown Comparison
The maximum ZPRE.DE drawdown since its inception was -38.16%, 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 ZPRE.DE and H4ZZ.DE.
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Drawdown Indicators
| ZPRE.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.16% | -16.46% | -21.70% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -10.94% | +0.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.13% | -16.46% | +1.33% |
Max Drawdown (5Y)Largest decline over 5 years | -24.48% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.16% | — | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.53% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -5.83% | -2.68% | -3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 3.23% | -0.41% |
Volatility
ZPRE.DE vs. H4ZZ.DE - Volatility Comparison
The current volatility for SPDR MSCI EMU UCITS ETF (ZPRE.DE) is 4.62%, while HSBC Euro Stoxx 50 UCITS ETF EUR (Acc) (H4ZZ.DE) has a volatility of 4.93%. This indicates that ZPRE.DE experiences smaller price fluctuations and is considered to be less risky 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
| ZPRE.DE | H4ZZ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 4.93% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 12.97% | -1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.52% | 15.97% | -1.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.13% | 15.85% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.12% | 15.85% | +1.27% |
ZPRE.DE vs. H4ZZ.DE - Expense Ratio Comparison
ZPRE.DE has a 0.18% expense ratio, which is higher than H4ZZ.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
ZPRE.DE vs. H4ZZ.DE - Dividend Comparison
Neither ZPRE.DE nor H4ZZ.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, ZPRE.DE and H4ZZ.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, 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 0.18% for ZPRE.DE.
ZPRE.DE tracks MSCI EMU, while H4ZZ.DE tracks EURO STOXX 50. They also come from different issuers: State Street and HSBC. Their fees differ too: 0.18% for ZPRE.DE and 0.05% for H4ZZ.DE.
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