HPAE.DE vs. EXS2.DE
HPAE.DE (HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc) and EXS2.DE (iShares TecDAX UCITS ETF (DE)) are both Europe Equities funds - HPAE.DE tracks the MSCI Europe NR EUR while EXS2.DE tracks the TecDAX®. Both are passively managed. Over the past 3 years, HPAE.DE returned 11.34%/yr vs 8.54%/yr for EXS2.DE. Their correlation of 0.80 suggests significant overlap in exposure. HPAE.DE charges 0.15%/yr vs 0.51%/yr for EXS2.DE.
Performance
HPAE.DE vs. EXS2.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HPAE.DE achieves a 6.01% return, which is significantly lower than EXS2.DE's 15.70% return.
HPAE.DE
- 1D
- 0.91%
- 1M
- 0.82%
- YTD
- 6.01%
- 6M
- 8.47%
- 1Y
- 12.19%
- 3Y*
- 11.34%
- 5Y*
- —
- 10Y*
- —
EXS2.DE
- 1D
- 0.52%
- 1M
- 10.24%
- YTD
- 15.70%
- 6M
- 16.12%
- 1Y
- 5.55%
- 3Y*
- 8.54%
- 5Y*
- 3.72%
- 10Y*
- 9.01%
HPAE.DE vs. EXS2.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAE.DE HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc | 6.01% | 16.07% | 6.83% | 17.07% | -13.17% | 5.18% |
EXS2.DE iShares TecDAX UCITS ETF (DE) | 15.70% | 5.33% | 1.63% | 13.54% | -26.00% | 1.95% |
Correlation
The correlation between HPAE.DE and EXS2.DE is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.80 |
The correlation between HPAE.DE and EXS2.DE has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.
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Return for Risk
HPAE.DE vs. EXS2.DE — Risk / Return Rank
HPAE.DE
EXS2.DE
HPAE.DE vs. EXS2.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc (HPAE.DE) and iShares TecDAX UCITS ETF (DE) (EXS2.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.
| HPAE.DE | EXS2.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.07 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 0.40 | +0.76 |
| Martin ratioReturn relative to average drawdown | 4.08 | 0.80 | +3.28 |
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
| HPAE.DE | EXS2.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.36 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.20 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.14 | +0.36 |
Drawdowns
HPAE.DE vs. EXS2.DE - Drawdown Comparison
The maximum HPAE.DE drawdown since its inception was -22.46%, smaller than the maximum EXS2.DE drawdown of -84.49%. Use the drawdown chart below to compare losses from any high point for HPAE.DE and EXS2.DE.
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Drawdown Indicators
| HPAE.DE | EXS2.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -84.49% | +62.03% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -16.12% | +5.54% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -17.93% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.97% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.97% | — |
Current DrawdownCurrent decline from peak | -1.71% | -0.81% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -39.46% | +34.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 8.07% | -5.07% |
Volatility
HPAE.DE vs. EXS2.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc (HPAE.DE) is 4.61%, while iShares TecDAX UCITS ETF (DE) (EXS2.DE) has a volatility of 5.29%. This indicates that HPAE.DE experiences smaller price fluctuations and is considered to be less risky than EXS2.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPAE.DE | EXS2.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 5.29% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 14.25% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 17.83% | -4.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 18.80% | -4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 19.47% | -4.73% |
HPAE.DE vs. EXS2.DE - Expense Ratio Comparison
HPAE.DE has a 0.15% expense ratio, which is lower than EXS2.DE's 0.51% expense ratio.
Dividends
HPAE.DE vs. EXS2.DE - Dividend Comparison
Neither HPAE.DE nor EXS2.DE has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXS2.DE iShares TecDAX UCITS ETF (DE) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.04% | 0.15% | 0.25% | 0.36% |
HPAE.DE HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR 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
HPAE.DE and EXS2.DE have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPAE.DE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPAE.DE is cheaper with a 0.15% expense ratio, compared with 0.51% for EXS2.DE.
HPAE.DE tracks MSCI Europe NR EUR, while EXS2.DE tracks TecDAX®. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for HPAE.DE and 0.51% for EXS2.DE.
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