HPAE.DE vs. SC0D.DE
HPAE.DE (HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc) and SC0D.DE (Invesco EURO STOXX 50 UCITS ETF) are both Europe Equities funds - HPAE.DE tracks the MSCI Europe NR EUR while SC0D.DE tracks the EURO STOXX® 50. Both are passively managed. Over the past 3 years, HPAE.DE returned 11.34%/yr vs 15.50%/yr for SC0D.DE. Their correlation of 0.93 suggests significant overlap in exposure. HPAE.DE charges 0.15%/yr vs 0.05%/yr for SC0D.DE.
Performance
HPAE.DE vs. SC0D.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 SC0D.DE's 7.29% return.
HPAE.DE
- 1D
- 0.91%
- 1M
- 0.82%
- YTD
- 6.01%
- 6M
- 8.47%
- 1Y
- 12.19%
- 3Y*
- 11.34%
- 5Y*
- —
- 10Y*
- —
SC0D.DE
- 1D
- 0.74%
- 1M
- 1.96%
- YTD
- 7.29%
- 6M
- 8.66%
- 1Y
- 15.55%
- 3Y*
- 15.50%
- 5Y*
- 11.35%
- 10Y*
- 10.37%
HPAE.DE vs. SC0D.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% |
SC0D.DE Invesco EURO STOXX 50 UCITS ETF | 7.29% | 22.01% | 10.91% | 22.46% | -9.02% | 3.19% |
Correlation
The correlation between HPAE.DE and SC0D.DE is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.93 |
The correlation between HPAE.DE and SC0D.DE has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
HPAE.DE vs. SC0D.DE — Risk / Return Rank
HPAE.DE
SC0D.DE
HPAE.DE vs. SC0D.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 Invesco EURO STOXX 50 UCITS ETF (SC0D.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 | SC0D.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.16 | 1.43 | -0.27 |
| Martin ratioReturn relative to average drawdown | 4.08 | 4.87 | -0.78 |
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 | SC0D.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.98 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.64 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.56 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.46 | +0.03 |
Drawdowns
HPAE.DE vs. SC0D.DE - Drawdown Comparison
The maximum HPAE.DE drawdown since its inception was -22.46%, smaller than the maximum SC0D.DE drawdown of -38.50%. Use the drawdown chart below to compare losses from any high point for HPAE.DE and SC0D.DE.
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Drawdown Indicators
| HPAE.DE | SC0D.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.46% | -38.50% | +16.04% |
Max Drawdown (1Y)Largest decline over 1 year | -10.58% | -10.93% | +0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -15.94% | -16.54% | +0.60% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.38% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.50% | — |
Current DrawdownCurrent decline from peak | -1.71% | -0.53% | -1.18% |
Average DrawdownAverage peak-to-trough decline | -5.04% | -7.22% | +2.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.21% | -0.21% |
Volatility
HPAE.DE vs. SC0D.DE - Volatility Comparison
The current volatility for HSBC MSCI Europe Climate Paris Aligned UCITS ETF EUR Acc (HPAE.DE) is 4.61%, while Invesco EURO STOXX 50 UCITS ETF (SC0D.DE) has a volatility of 4.94%. This indicates that HPAE.DE experiences smaller price fluctuations and is considered to be less risky than SC0D.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 | SC0D.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 4.94% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.29% | 12.94% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.60% | 15.95% | -2.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.74% | 17.53% | -2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.74% | 18.27% | -3.53% |
HPAE.DE vs. SC0D.DE - Expense Ratio Comparison
HPAE.DE has a 0.15% expense ratio, which is higher than SC0D.DE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HPAE.DE vs. SC0D.DE - Dividend Comparison
Neither HPAE.DE nor SC0D.DE has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, HPAE.DE and SC0D.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, SC0D.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SC0D.DE is cheaper with a 0.05% expense ratio, compared with 0.15% for HPAE.DE.
HPAE.DE tracks MSCI Europe NR EUR, while SC0D.DE tracks EURO STOXX® 50. They also come from different issuers: HSBC and Invesco. Their fees differ too: 0.15% for HPAE.DE and 0.05% for SC0D.DE.
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