HPAU.DE vs. H412.DE
HPAU.DE (HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc) and H412.DE (HSBC USA Sustainable Equity UCITS ETF USD) are both Large Cap Blend Equities funds from HSBC - HPAU.DE tracks the MSCI USA Climate Paris Aligned while H412.DE tracks the FTSE USA ESG Low Carbon Select. Both are passively managed. Over the past 3 years, HPAU.DE returned 17.54%/yr vs 18.35%/yr for H412.DE. Their correlation of 0.95 suggests significant overlap in exposure. Both charge a 0.12% expense ratio.
Performance
HPAU.DE vs. H412.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HPAU.DE achieves a 11.46% return, which is significantly lower than H412.DE's 15.33% return.
HPAU.DE
- 1D
- -0.04%
- 1M
- 7.25%
- YTD
- 11.46%
- 6M
- 10.58%
- 1Y
- 23.55%
- 3Y*
- 17.54%
- 5Y*
- —
- 10Y*
- —
H412.DE
- 1D
- 0.46%
- 1M
- 7.70%
- YTD
- 15.33%
- 6M
- 15.89%
- 1Y
- 32.34%
- 3Y*
- 18.35%
- 5Y*
- 13.98%
- 10Y*
- —
HPAU.DE vs. H412.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAU.DE HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc | 11.46% | 1.05% | 32.02% | 25.22% | -19.66% | 12.01% |
H412.DE HSBC USA Sustainable Equity UCITS ETF USD | 15.33% | 6.12% | 26.73% | 17.60% | -13.13% | 11.39% |
Correlation
The correlation between HPAU.DE and H412.DE is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.95 |
The correlation between HPAU.DE and H412.DE has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.
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Return for Risk
HPAU.DE vs. H412.DE — Risk / Return Rank
HPAU.DE
H412.DE
HPAU.DE vs. H412.DE - 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 (HPAU.DE) and HSBC USA Sustainable Equity UCITS ETF USD (H412.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.
| HPAU.DE | H412.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.08 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.54 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 5.88 | -3.78 |
| Martin ratioReturn relative to average drawdown | 6.17 | 19.52 | -13.35 |
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
| HPAU.DE | H412.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | 2.90 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.94 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 1.06 | -0.39 |
Drawdowns
HPAU.DE vs. H412.DE - Drawdown Comparison
The maximum HPAU.DE drawdown since its inception was -25.26%, roughly equal to the maximum H412.DE drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for HPAU.DE and H412.DE.
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Drawdown Indicators
| HPAU.DE | H412.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.26% | -24.35% | -0.91% |
Max Drawdown (1Y)Largest decline over 1 year | -11.34% | -5.54% | -5.80% |
Max Drawdown (3Y)Largest decline over 3 years | -25.26% | -24.35% | -0.91% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.35% | — |
Current DrawdownCurrent decline from peak | -0.34% | 0.00% | -0.34% |
Average DrawdownAverage peak-to-trough decline | -7.13% | -4.12% | -3.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 1.67% | +2.19% |
Volatility
HPAU.DE vs. H412.DE - Volatility Comparison
HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAU.DE) has a higher volatility of 3.54% compared to HSBC USA Sustainable Equity UCITS ETF USD (H412.DE) at 3.27%. This indicates that HPAU.DE's price experiences larger fluctuations and is considered to be riskier than H412.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPAU.DE | H412.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 3.27% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 8.92% | 7.70% | +1.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.08% | 11.23% | +1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.63% | 14.70% | +1.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.63% | 14.81% | +1.82% |
HPAU.DE vs. H412.DE - Expense Ratio Comparison
Both HPAU.DE and H412.DE have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
HPAU.DE vs. H412.DE - Dividend Comparison
Neither HPAU.DE nor H412.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAU.DE and H412.DE have a correlation of 0.88, 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 0.12% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HPAU.DE and H412.DE have the same expense ratio: 0.12% per year.
HPAU.DE tracks MSCI USA Climate Paris Aligned, while H412.DE tracks FTSE USA ESG Low Carbon Select.
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