HPAE.DE vs. FTGE.DE
HPAE.DE (HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc) and FTGE.DE (First Trust Eurozone AlphaDEX UCITS ETF Acc) are both Europe Equities funds - HPAE.DE tracks the MSCI Europe NR EUR while FTGE.DE tracks the Nasdaq AlphaDEX® Eurozone. Both are passively managed. Over the past 3 years, HPAE.DE returned 11.34%/yr vs 22.56%/yr for FTGE.DE. Their correlation of 0.82 suggests significant overlap in exposure. HPAE.DE charges 0.15%/yr vs 0.65%/yr for FTGE.DE.
Performance
HPAE.DE vs. FTGE.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 FTGE.DE's 13.73% return.
HPAE.DE
- 1D
- 0.91%
- 1M
- 0.82%
- YTD
- 6.01%
- 6M
- 8.47%
- 1Y
- 12.19%
- 3Y*
- 11.34%
- 5Y*
- —
- 10Y*
- —
FTGE.DE
- 1D
- 0.51%
- 1M
- 0.87%
- YTD
- 13.73%
- 6M
- 16.65%
- 1Y
- 29.62%
- 3Y*
- 22.56%
- 5Y*
- 11.59%
- 10Y*
- —
HPAE.DE vs. FTGE.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% |
FTGE.DE First Trust Eurozone AlphaDEX UCITS ETF Acc | 13.73% | 39.79% | 9.52% | 12.43% | -14.37% | 0.88% |
Correlation
The correlation between HPAE.DE and FTGE.DE is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.82 |
The correlation between HPAE.DE and FTGE.DE has been stable across timeframes, ranging from 0.77 to 0.82 - a consistent structural relationship.
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Return for Risk
HPAE.DE vs. FTGE.DE — Risk / Return Rank
HPAE.DE
FTGE.DE
HPAE.DE vs. FTGE.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 First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.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 | FTGE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -1.58 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 3.27 | -2.12 |
| Martin ratioReturn relative to average drawdown | 4.08 | 12.30 | -8.22 |
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 | FTGE.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 2.16 | -1.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.88 | -0.39 |
Drawdowns
HPAE.DE vs. FTGE.DE - Drawdown Comparison
The maximum HPAE.DE drawdown since its inception was -22.46%, smaller than the maximum FTGE.DE drawdown of -26.63%. Use the drawdown chart below to compare losses from any high point for HPAE.DE and FTGE.DE.
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Drawdown Indicators
| HPAE.DE | FTGE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -26.63% | +4.17% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -9.38% | -1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -16.12% | +0.18% |
Max Drawdown (5Y)Largest decline over 5 years | — | -26.63% | — |
Current DrawdownCurrent decline from peak | -1.71% | 0.00% | -1.71% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -5.40% | +0.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 2.50% | +0.50% |
Volatility
HPAE.DE vs. FTGE.DE - Volatility Comparison
HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc (HPAE.DE) has a higher volatility of 4.61% compared to First Trust Eurozone AlphaDEX UCITS ETF Acc (FTGE.DE) at 3.83%. This indicates that HPAE.DE's price experiences larger fluctuations and is considered to be riskier than FTGE.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 | FTGE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 3.83% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 11.63% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 14.23% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 17.58% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 18.41% | -3.67% |
HPAE.DE vs. FTGE.DE - Expense Ratio Comparison
HPAE.DE has a 0.15% expense ratio, which is lower than FTGE.DE's 0.65% expense ratio.
Dividends
HPAE.DE vs. FTGE.DE - Dividend Comparison
Neither HPAE.DE nor FTGE.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAE.DE and FTGE.DE have a correlation of 0.82, 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 0.65% for FTGE.DE.
HPAE.DE tracks MSCI Europe NR EUR, while FTGE.DE tracks Nasdaq AlphaDEX® Eurozone. They also come from different issuers: HSBC and First Trust. Their fees differ too: 0.15% for HPAE.DE and 0.65% for FTGE.DE.
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