HPAU.DE vs. JRUD.DE

Last updated Jun 5, 2026

HPAU.DE (HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc) and JRUD.DE (JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)) are both Large Cap Blend Equities funds - HPAU.DE tracks the MSCI USA Climate Paris Aligned while JRUD.DE tracks the JP Morgan US Research Enhanced Index Equity (ESG). Both are passively managed. Over the past 3 years, HPAU.DE returned 17.54%/yr vs 18.26%/yr for JRUD.DE. With a 0.97 correlation, they move nearly in lockstep. HPAU.DE charges 0.12%/yr vs 0.20%/yr for JRUD.DE.

Performance

HPAU.DE vs. JRUD.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAU.DE) and JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HPAU.DE achieves a 11.46% return, which is significantly higher than JRUD.DE's 10.50% return.

HPAU.DE

• 1D: -0.04%
• 1M: 7.25%
• YTD: 11.46%
• 6M: 10.58%
• 1Y: 23.55%
• 3Y*: 17.54%
• 5Y*: —
• 10Y*: —

JRUD.DE

• 1D: -0.13%
• 1M: 3.79%
• YTD: 10.50%
• 6M: 10.16%
• 1Y: 24.35%
• 3Y*: 18.26%
• 5Y*: 14.63%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HPAU.DE vs. JRUD.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%
JRUD.DE JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	10.50%	3.71%	32.10%	23.94%	-14.78%	13.09%

Correlation

The correlation between HPAU.DE and JRUD.DE is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021	0.97

The correlation between HPAU.DE and JRUD.DE has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

HPAU.DE vs. JRUD.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HPAU.DE

HPAU.DE Risk / Return Rank: 49
HPAU.DE Sharpe Ratio Rank: 54
HPAU.DE Sortino Ratio Rank: 52
HPAU.DE Omega Ratio Rank: 53
HPAU.DE Calmar Ratio Rank: 43
HPAU.DE Martin Ratio Rank: 40

JRUD.DE

JRUD.DE Risk / Return Rank: 68
JRUD.DE Sharpe Ratio Rank: 65
JRUD.DE Sortino Ratio Rank: 64
JRUD.DE Omega Ratio Rank: 68
JRUD.DE Calmar Ratio Rank: 72
JRUD.DE Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HPAU.DE vs. JRUD.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 JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.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	JRUD.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.14	-0.32
Sortino ratio: Return per unit of downside risk	2.48	2.92	-0.44
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	2.09	3.55	-1.45
Martin ratio: Return relative to average drawdown	6.17	13.27	-7.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HPAU.DE vs. JRUD.DE - Sharpe Ratio Comparison

The current HPAU.DE Sharpe Ratio is 1.81, which is comparable to the JRUD.DE Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of HPAU.DE and JRUD.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HPAU.DE	JRUD.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	2.14	-0.32
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	0.83	-0.16

Drawdowns

HPAU.DE vs. JRUD.DE - Drawdown Comparison

The maximum HPAU.DE drawdown since its inception was -25.26%, smaller than the maximum JRUD.DE drawdown of -34.16%. Use the drawdown chart below to compare losses from any high point for HPAU.DE and JRUD.DE.

Drawdown Indicators

	HPAU.DE	JRUD.DE	Difference
Max Drawdown Largest peak-to-trough decline	-25.26%	-34.16%	+8.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.34%	-6.86%	-4.48%
Max Drawdown (3Y) Largest decline over 3 years	-25.26%	-23.42%	-1.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-23.42%	—
Current Drawdown Current decline from peak	-0.34%	-0.48%	+0.14%
Average Drawdown Average peak-to-trough decline	-7.13%	-4.95%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	1.84%	+2.02%

Volatility

HPAU.DE vs. JRUD.DE - Volatility Comparison

HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAU.DE) has a higher volatility of 3.54% compared to JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist) (JRUD.DE) at 2.56%. This indicates that HPAU.DE's price experiences larger fluctuations and is considered to be riskier than JRUD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HPAU.DE	JRUD.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	2.56%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	8.92%	7.41%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	11.40%	+1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	15.31%	+1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	17.76%	-1.13%

HPAU.DE vs. JRUD.DE - Expense Ratio Comparison

HPAU.DE has a 0.12% expense ratio, which is lower than JRUD.DE's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HPAU.DE vs. JRUD.DE - Dividend Comparison

HPAU.DE has not paid dividends to shareholders, while JRUD.DE's dividend yield for the trailing twelve months is around 0.58%.

Position	TTM	2025	2024	2023	2022	2021
HPAU.DE HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JRUD.DE JPMorgan US Research Enhanced Index Equity (ESG) UCITS ETF USD (dist)	0.58%	0.57%	0.44%	0.78%	0.88%	0.65%

Frequently Asked Questions

Can I hold both HPAU.DE and JRUD.DE in my portfolio?

With a correlation of 0.94, HPAU.DE and JRUD.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.

Which ETF is better, HPAU.DE or JRUD.DE?

On fees, HPAU.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HPAU.DE or JRUD.DE?

HPAU.DE is cheaper with a 0.12% expense ratio, compared with 0.20% for JRUD.DE.

What is the main difference between HPAU.DE and JRUD.DE?

HPAU.DE tracks MSCI USA Climate Paris Aligned, while JRUD.DE tracks JP Morgan US Research Enhanced Index Equity (ESG). They also come from different issuers: HSBC and JPMorgan. Their fees differ too: 0.12% for HPAU.DE and 0.20% for JRUD.DE.