HPAE.DE vs. H4ZJ.DE
HPAE.DE (HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc) and H4ZJ.DE (HSBC MSCI World UCITS ETF USD) are both exchange-traded funds - HPAE.DE is a Europe Equities fund tracking the MSCI Europe NR EUR, while H4ZJ.DE is a Global Equities fund tracking the MSCI World. Both are passively managed. Over the past 3 years, HPAE.DE returned 11.34%/yr vs 18.46%/yr for H4ZJ.DE. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.15% expense ratio.
Performance
HPAE.DE vs. H4ZJ.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HPAE.DE achieves a 6.01% return, which is significantly lower than H4ZJ.DE's 10.86% return.
HPAE.DE
- 1D
- 0.91%
- 1M
- 0.82%
- YTD
- 6.01%
- 6M
- 8.47%
- 1Y
- 12.19%
- 3Y*
- 11.34%
- 5Y*
- —
- 10Y*
- —
H4ZJ.DE
- 1D
- -0.34%
- 1M
- 3.69%
- YTD
- 10.86%
- 6M
- 10.96%
- 1Y
- 23.81%
- 3Y*
- 18.46%
- 5Y*
- 13.87%
- 10Y*
- 14.71%
HPAE.DE vs. H4ZJ.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% |
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 10.86% | 8.00% | 26.94% | 22.28% | -13.11% | 9.44% |
Correlation
The correlation between HPAE.DE and H4ZJ.DE is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.77 |
The correlation between HPAE.DE and H4ZJ.DE has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HPAE.DE vs. H4ZJ.DE — Risk / Return Rank
HPAE.DE
H4ZJ.DE
HPAE.DE vs. H4ZJ.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 HSBC MSCI World UCITS ETF USD (H4ZJ.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 | H4ZJ.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.59 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.40 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 3.61 | -2.46 |
| Martin ratioReturn relative to average drawdown | 4.08 | 14.41 | -10.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HPAE.DE | H4ZJ.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 2.13 | -1.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.97 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.93 | -0.44 |
Drawdowns
HPAE.DE vs. H4ZJ.DE - Drawdown Comparison
The maximum HPAE.DE drawdown since its inception was -22.46%, smaller than the maximum H4ZJ.DE drawdown of -33.60%. Use the drawdown chart below to compare losses from any high point for HPAE.DE and H4ZJ.DE.
Loading charts...
Drawdown Indicators
| HPAE.DE | H4ZJ.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -33.60% | +11.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -6.59% | -3.99% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -21.65% | +5.71% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.60% | — |
Current DrawdownCurrent decline from peak | -1.71% | -0.34% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -4.02% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 1.66% | +1.34% |
Volatility
HPAE.DE vs. H4ZJ.DE - Volatility Comparison
HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc (HPAE.DE) has a higher volatility of 4.61% compared to HSBC MSCI World UCITS ETF USD (H4ZJ.DE) at 2.77%. This indicates that HPAE.DE's price experiences larger fluctuations and is considered to be riskier than H4ZJ.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HPAE.DE | H4ZJ.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 2.77% | +1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 7.73% | +3.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 11.24% | +2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 14.14% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 15.05% | -0.31% |
HPAE.DE vs. H4ZJ.DE - Expense Ratio Comparison
Both HPAE.DE and H4ZJ.DE have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
HPAE.DE vs. H4ZJ.DE - Dividend Comparison
HPAE.DE has not paid dividends to shareholders, while H4ZJ.DE's dividend yield for the trailing twelve months is around 1.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
H4ZJ.DE HSBC MSCI World UCITS ETF USD | 1.16% | 1.28% | 2.06% | 3.02% | 2.65% | 2.73% | 3.30% | 4.02% | 4.71% | 3.58% | 4.02% | 3.46% |
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 H4ZJ.DE have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HPAE.DE and H4ZJ.DE have the same expense ratio: 0.15% per year.
HPAE.DE is categorized as Europe Equities, while H4ZJ.DE is Global Equities. HPAE.DE tracks MSCI Europe NR EUR, while H4ZJ.DE tracks MSCI World.
Find the right allocation for HPAE.DE and H4ZJ.DE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer