HPAE.DE vs. EXXX.DE
HPAE.DE (HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc) and EXXX.DE (iShares ATX UCITS ETF (DE)) are both Europe Equities funds - HPAE.DE tracks the MSCI Europe NR EUR while EXXX.DE tracks the ATX Index. Both are passively managed. Over the past 3 years, HPAE.DE returned 12.55%/yr vs 30.20%/yr for EXXX.DE. A 0.69 correlation means they provide meaningful diversification when combined. HPAE.DE charges 0.15%/yr vs 0.32%/yr for EXXX.DE.
Performance
HPAE.DE vs. EXXX.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HPAE.DE achieves a 9.04% return, which is significantly lower than EXXX.DE's 22.53% return.
HPAE.DE
- 1D
- 0.00%
- 1M
- 0.40%
- 6M
- 5.15%
- YTD
- 9.04%
- 1Y
- 16.76%
- 3Y*
- 12.55%
- 5Y*
- —
- 10Y*
- —
EXXX.DE
- 1D
- -1.55%
- 1M
- -2.82%
- 6M
- 19.05%
- YTD
- 22.53%
- 1Y
- 45.03%
- 3Y*
- 30.20%
- 5Y*
- 17.45%
- 10Y*
- 14.21%
HPAE.DE vs. EXXX.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAE.DE HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc | 9.04% | 16.07% | 6.83% | 17.07% | -13.17% | 5.12% |
EXXX.DE iShares ATX UCITS ETF (DE) | 22.53% | 51.31% | 10.39% | 13.71% | -16.43% | 9.30% |
Correlation
The correlation between HPAE.DE and EXXX.DE is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2021 | 0.69 |
The correlation between HPAE.DE and EXXX.DE has been stable across timeframes, ranging from 0.67 to 0.69 - a consistent structural relationship.
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Return for Risk
HPAE.DE vs. EXXX.DE — Risk / Return Rank
HPAE.DE
EXXX.DE
HPAE.DE vs. EXXX.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 ATX UCITS ETF (DE) (EXXX.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.
| HPAE.DE | EXXX.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.43 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.59 | 4.19 | -2.59 |
| Martin ratioReturn relative to average drawdown | 5.82 | 14.04 | -8.22 |
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Drawdowns
HPAE.DE vs. EXXX.DE - Drawdown Comparison
The maximum HPAE.DE drawdown since its inception was -22.46%, smaller than the maximum EXXX.DE drawdown of -71.43%. Use the drawdown chart below to compare losses from any high point for HPAE.DE and EXXX.DE.
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Drawdown Indicators
| HPAE.DE | EXXX.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -71.43% | +48.97% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -10.71% | +0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -16.11% | +0.17% |
Max Drawdown (5Y)Largest decline over 5 years | — | -32.69% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -52.90% | — |
Current DrawdownCurrent decline from peak | -2.02% | -3.48% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -4.94% | -28.47% | +23.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.89% | 3.20% | -0.31% |
Volatility
HPAE.DE vs. EXXX.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc (HPAE.DE) is 3.28%, while iShares ATX UCITS ETF (DE) (EXXX.DE) has a volatility of 4.88%. This indicates that HPAE.DE experiences smaller price fluctuations and is considered to be less risky than EXXX.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 | EXXX.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.28% | 4.88% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 14.74% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 17.54% | -3.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.68% | 19.15% | -4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.68% | 19.93% | -5.25% |
HPAE.DE vs. EXXX.DE - Expense Ratio Comparison
HPAE.DE has a 0.15% expense ratio, which is lower than EXXX.DE's 0.32% expense ratio.
Dividends
HPAE.DE vs. EXXX.DE - Dividend Comparison
HPAE.DE has not paid dividends to shareholders, while EXXX.DE's dividend yield for the trailing twelve months is around 3.01%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXXX.DE iShares ATX UCITS ETF (DE) | 3.01% | 2.53% | 4.30% | 3.53% | 3.61% | 1.04% | 1.18% | 1.73% | 0.48% | 0.65% | 1.08% | 1.65% |
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 EXXX.DE have a correlation of 0.68, 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 0.32% for EXXX.DE.
HPAE.DE tracks MSCI Europe NR EUR, while EXXX.DE tracks ATX Index. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.15% for HPAE.DE and 0.32% for EXXX.DE.
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