HPAS.L vs. BBUS.L
HPAS.L (HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc) and BBUS.L (BetaBuilders US Equity UCITS USD Acc) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from HSBC and JPMorgan respectively. Both are passively managed. Over the past 3 years, HPAS.L returned 17.97%/yr vs 19.30%/yr for BBUS.L. Their correlation of 0.91 suggests significant overlap in exposure. HPAS.L charges 0.12%/yr vs 0.04%/yr for BBUS.L.
Performance
HPAS.L vs. BBUS.L - Performance Comparison
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Different Trading Currencies
HPAS.L is traded in GBP, while BBUS.L is traded in USD. To make them comparable, the BBUS.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with HPAS.L having a 10.62% return and BBUS.L slightly lower at 10.46%.
HPAS.L
- 1D
- -0.13%
- 1M
- 9.13%
- YTD
- 10.62%
- 6M
- 10.58%
- 1Y
- 27.36%
- 3Y*
- 17.97%
- 5Y*
- —
- 10Y*
- —
BBUS.L
- 1D
- -0.27%
- 1M
- 5.64%
- YTD
- 10.46%
- 6M
- 10.30%
- 1Y
- 28.62%
- 3Y*
- 19.30%
- 5Y*
- 14.49%
- 10Y*
- —
HPAS.L vs. BBUS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAS.L HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc | 10.62% | 5.65% | 26.90% | 22.43% | -14.66% | 11.67% |
BBUS.L BetaBuilders US Equity UCITS USD Acc | 10.46% | 9.16% | 27.18% | 21.25% | -10.45% | 10.62% |
Correlation
The correlation between HPAS.L and BBUS.L is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021 | 0.91 |
The correlation between HPAS.L and BBUS.L has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.
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Return for Risk
HPAS.L vs. BBUS.L — Risk / Return Rank
HPAS.L
BBUS.L
HPAS.L vs. BBUS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAS.L) and BetaBuilders US Equity UCITS USD Acc (BBUS.L). 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.
| HPAS.L | BBUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.44 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 3.70 | -1.53 |
| Martin ratioReturn relative to average drawdown | 6.24 | 12.18 | -5.94 |
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
| HPAS.L | BBUS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.25 | 2.39 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.93 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.90 | -0.13 |
Drawdowns
HPAS.L vs. BBUS.L - Drawdown Comparison
The maximum HPAS.L drawdown since its inception was -23.23%, smaller than the maximum BBUS.L drawdown of -26.39%. Use the drawdown chart below to compare losses from any high point for HPAS.L and BBUS.L.
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Drawdown Indicators
| HPAS.L | BBUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.23% | -26.39% | +3.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.57% | -7.71% | -4.86% |
Max Drawdown (3Y)Largest decline over 3 years | -23.23% | -21.39% | -1.84% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.39% | — |
Current DrawdownCurrent decline from peak | -0.13% | -0.27% | +0.14% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -3.81% | -2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.38% | 2.34% | +2.04% |
Volatility
HPAS.L vs. BBUS.L - Volatility Comparison
The current volatility for HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAS.L) is 3.25%, while BetaBuilders US Equity UCITS USD Acc (BBUS.L) has a volatility of 3.61%. This indicates that HPAS.L experiences smaller price fluctuations and is considered to be less risky than BBUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPAS.L | BBUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 3.61% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 8.55% | 8.70% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 11.98% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.73% | 15.58% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.73% | 17.27% | -1.54% |
HPAS.L vs. BBUS.L - Expense Ratio Comparison
HPAS.L has a 0.12% expense ratio, which is higher than BBUS.L's 0.04% 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
HPAS.L vs. BBUS.L - Dividend Comparison
Neither HPAS.L nor BBUS.L has paid dividends to shareholders.
Frequently Asked Questions
HPAS.L and BBUS.L have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BBUS.L is cheaper at 0.04% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BBUS.L is cheaper with a 0.04% expense ratio, compared with 0.12% for HPAS.L.
Both ETFs track Russell 1000 TR USD. They also come from different issuers: HSBC and JPMorgan. Their fees differ too: 0.12% for HPAS.L and 0.04% for BBUS.L.
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