AMEC.DE vs. HPAW.DE
AMEC.DE (Amundi Index Smart City UCITS ETF) and HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) are both Global Equities funds - AMEC.DE tracks the Solactive Smart City while HPAW.DE tracks the MSCI World Climate Paris Aligned. Both are passively managed. Over the past 3 years, AMEC.DE returned 18.43%/yr vs 15.65%/yr for HPAW.DE. A 0.78 correlation means they provide meaningful diversification when combined. AMEC.DE charges 0.35%/yr vs 0.18%/yr for HPAW.DE.
Performance
AMEC.DE vs. HPAW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, AMEC.DE achieves a 31.64% return, which is significantly higher than HPAW.DE's 7.42% return.
AMEC.DE
- 1D
- 0.50%
- 1M
- 2.11%
- YTD
- 31.64%
- 6M
- 32.29%
- 1Y
- 46.86%
- 3Y*
- 18.43%
- 5Y*
- 6.21%
- 10Y*
- —
HPAW.DE
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 7.42%
- 6M
- 7.69%
- 1Y
- 19.60%
- 3Y*
- 15.65%
- 5Y*
- —
- 10Y*
- —
AMEC.DE vs. HPAW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
AMEC.DE Amundi Index Smart City UCITS ETF | 31.64% | 9.65% | 16.27% | 1.43% | -18.74% | 0.90% |
HPAW.DE HSBC MSCI World Climate Paris Aligned UCITS ETF | 7.42% | 5.30% | 25.33% | 21.56% | -17.48% | 9.53% |
Correlation
The correlation between AMEC.DE and HPAW.DE is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2021 | 0.78 |
The correlation between AMEC.DE and HPAW.DE has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.
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Return for Risk
AMEC.DE vs. HPAW.DE — Risk / Return Rank
AMEC.DE
HPAW.DE
AMEC.DE vs. HPAW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Amundi Index Smart City UCITS ETF (AMEC.DE) and HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.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.
| AMEC.DE | HPAW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.30 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 5.17 | 2.19 | +2.98 |
| Martin ratioReturn relative to average drawdown | 15.69 | 8.01 | +7.69 |
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Drawdowns
AMEC.DE vs. HPAW.DE - Drawdown Comparison
The maximum AMEC.DE drawdown since its inception was -35.49%, which is greater than HPAW.DE's maximum drawdown of -21.61%. Use the drawdown chart below to compare losses from any high point for AMEC.DE and HPAW.DE.
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Drawdown Indicators
| AMEC.DE | HPAW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -21.61% | -13.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.02% | -9.00% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -24.98% | -21.61% | -3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | — | — |
Current DrawdownCurrent decline from peak | -2.45% | -0.58% | -1.87% |
Average DrawdownAverage peak-to-trough decline | -11.42% | -5.70% | -5.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.98% | 2.45% | +0.53% |
Volatility
AMEC.DE vs. HPAW.DE - Volatility Comparison
Amundi Index Smart City UCITS ETF (AMEC.DE) has a higher volatility of 7.13% compared to HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) at 3.15%. This indicates that AMEC.DE's price experiences larger fluctuations and is considered to be riskier than HPAW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMEC.DE | HPAW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.13% | 3.15% | +3.98% |
Volatility (6M)Calculated over the trailing 6-month period | 14.34% | 8.68% | +5.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.26% | 12.10% | +6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.71% | 14.72% | +2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.29% | 14.72% | +4.57% |
AMEC.DE vs. HPAW.DE - Expense Ratio Comparison
AMEC.DE has a 0.35% expense ratio, which is higher than HPAW.DE's 0.18% expense ratio.
Dividends
AMEC.DE vs. HPAW.DE - Dividend Comparison
Neither AMEC.DE nor HPAW.DE has paid dividends to shareholders.
Frequently Asked Questions
AMEC.DE and HPAW.DE have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPAW.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPAW.DE is cheaper with a 0.18% expense ratio, compared with 0.35% for AMEC.DE.
AMEC.DE tracks Solactive Smart City, while HPAW.DE tracks MSCI World Climate Paris Aligned. They also come from different issuers: Amundi and HSBC. Their fees differ too: 0.35% for AMEC.DE and 0.18% for HPAW.DE.
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