HO.PA vs. ASWC.DE
HO.PA (Thales S.A.) is a stock, while ASWC.DE (HANetf Future of Defence UCITS ETF Acc EUR) is Aerospace & Defense fund tracking the EQM Future of Defence Index. Over the past year, HO.PA returned -10.46% vs 16.04% for ASWC.DE. At a 0.50 correlation, their price movements are largely independent.
Performance
HO.PA vs. ASWC.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HO.PA achieves a 1.45% return, which is significantly lower than ASWC.DE's 13.04% return.
HO.PA
- 1D
- 2.27%
- 1M
- 2.30%
- YTD
- 1.45%
- 6M
- 2.70%
- 1Y
- -10.46%
- 3Y*
- 22.61%
- 5Y*
- 24.73%
- 10Y*
- 13.72%
ASWC.DE
- 1D
- -0.80%
- 1M
- 8.64%
- YTD
- 13.04%
- 6M
- 15.13%
- 1Y
- 16.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HO.PA vs. ASWC.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HO.PA Thales S.A. | 1.45% | 68.36% | 5.76% | 0.14% |
ASWC.DE HANetf Future of Defence UCITS ETF Acc EUR | 13.04% | 38.30% | 39.36% | 14.35% |
Correlation
The correlation between HO.PA and ASWC.DE is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023 | 0.50 |
The correlation between HO.PA and ASWC.DE has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
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Return for Risk
HO.PA vs. ASWC.DE — Risk / Return Rank
HO.PA
ASWC.DE
HO.PA vs. ASWC.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Thales S.A. (HO.PA) and HANetf Future of Defence UCITS ETF Acc EUR (ASWC.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.
| HO.PA | ASWC.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.68 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.16 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.64 | 1.36 | -1.99 |
| Martin ratioReturn relative to average drawdown | -1.10 | 3.10 | -4.20 |
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
| HO.PA | ASWC.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.40 | 0.84 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.86 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 1.91 | -1.61 |
Drawdowns
HO.PA vs. ASWC.DE - Drawdown Comparison
The maximum HO.PA drawdown since its inception was -66.14%, which is greater than ASWC.DE's maximum drawdown of -12.58%. Use the drawdown chart below to compare losses from any high point for HO.PA and ASWC.DE.
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Drawdown Indicators
| HO.PA | ASWC.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.14% | -12.58% | -53.56% |
Max Drawdown (1Y)Largest decline over 1 year | -19.60% | -12.58% | -7.02% |
Max Drawdown (3Y)Largest decline over 3 years | -20.55% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.97% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.77% | — | — |
Current DrawdownCurrent decline from peak | -14.23% | -2.83% | -11.40% |
Average DrawdownAverage peak-to-trough decline | -21.20% | -2.47% | -18.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.14% | 5.51% | +4.63% |
Volatility
HO.PA vs. ASWC.DE - Volatility Comparison
Thales S.A. (HO.PA) has a higher volatility of 8.71% compared to HANetf Future of Defence UCITS ETF Acc EUR (ASWC.DE) at 5.89%. This indicates that HO.PA's price experiences larger fluctuations and is considered to be riskier than ASWC.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HO.PA | ASWC.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.71% | 5.89% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 23.36% | 15.89% | +7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.26% | 20.35% | +10.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.14% | 19.12% | +9.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.56% | 19.12% | +8.44% |
Dividends
HO.PA vs. ASWC.DE - Dividend Comparison
HO.PA's dividend yield for the trailing twelve months is around 1.70%, while ASWC.DE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASWC.DE HANetf Future of Defence UCITS ETF Acc EUR | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
HO.PA Thales S.A. | 1.70% | 1.65% | 2.49% | 2.27% | 2.23% | 2.62% | 0.53% | 2.36% | 1.76% | 1.84% | 1.53% | 1.64% |
Frequently Asked Questions
HO.PA and ASWC.DE have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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