HPAW.DE vs. CBUG.DE
HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) and CBUG.DE (iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist)) are both Global Equities funds - HPAW.DE tracks the MSCI World Climate Paris Aligned while CBUG.DE tracks the MSCI ACWI SMID NR USD. Both are passively managed. Over the past 3 years, HPAW.DE returned 15.22%/yr vs 13.75%/yr for CBUG.DE. Their correlation of 0.84 suggests significant overlap in exposure. HPAW.DE charges 0.18%/yr vs 0.10%/yr for CBUG.DE.
Performance
HPAW.DE vs. CBUG.DE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HPAW.DE achieves a 7.65% return, which is significantly lower than CBUG.DE's 14.43% return.
HPAW.DE
- 1D
- 0.23%
- 1M
- 3.57%
- YTD
- 7.65%
- 6M
- 7.42%
- 1Y
- 18.83%
- 3Y*
- 15.22%
- 5Y*
- —
- 10Y*
- —
CBUG.DE
- 1D
- 0.52%
- 1M
- 2.87%
- YTD
- 14.43%
- 6M
- 15.29%
- 1Y
- 28.47%
- 3Y*
- 13.75%
- 5Y*
- —
- 10Y*
- —
HPAW.DE vs. CBUG.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAW.DE HSBC MSCI World Climate Paris Aligned UCITS ETF | 7.65% | 5.30% | 25.33% | 21.56% | -17.48% | 3.45% |
CBUG.DE iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) | 14.43% | 6.47% | 13.17% | 11.34% | -14.17% | 2.96% |
Correlation
The correlation between HPAW.DE and CBUG.DE is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2021 | 0.84 |
The correlation between HPAW.DE and CBUG.DE has been stable across timeframes, ranging from 0.78 to 0.84 - 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
HPAW.DE vs. CBUG.DE — Risk / Return Rank
HPAW.DE
CBUG.DE
HPAW.DE vs. CBUG.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) and iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.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.
| HPAW.DE | CBUG.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 3.94 | -1.83 |
| Martin ratioReturn relative to average drawdown | 7.76 | 14.66 | -6.90 |
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
| HPAW.DE | CBUG.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 2.04 | -0.42 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.42 | +0.23 |
Drawdowns
HPAW.DE vs. CBUG.DE - Drawdown Comparison
The maximum HPAW.DE drawdown since its inception was -21.61%, smaller than the maximum CBUG.DE drawdown of -24.59%. Use the drawdown chart below to compare losses from any high point for HPAW.DE and CBUG.DE.
Loading charts...
Drawdown Indicators
| HPAW.DE | CBUG.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -24.59% | +2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -7.21% | -1.79% |
Max Drawdown (3Y)Largest decline over 3 years | -21.61% | -24.59% | +2.98% |
Current DrawdownCurrent decline from peak | -0.37% | 0.00% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -7.48% | +1.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 1.94% | +0.51% |
Volatility
HPAW.DE vs. CBUG.DE - Volatility Comparison
The current volatility for HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) is 3.00%, while iShares USD Treasury Bond 3-7yr UCITS ETF GBP hedged (Dist) (CBUG.DE) has a volatility of 3.41%. This indicates that HPAW.DE experiences smaller price fluctuations and is considered to be less risky than CBUG.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HPAW.DE | CBUG.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 3.41% | -0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 8.29% | 9.78% | -1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 13.90% | -2.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 16.71% | -1.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.72% | 16.71% | -1.99% |
HPAW.DE vs. CBUG.DE - Expense Ratio Comparison
HPAW.DE has a 0.18% expense ratio, which is higher than CBUG.DE's 0.10% 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
HPAW.DE vs. CBUG.DE - Dividend Comparison
Neither HPAW.DE nor CBUG.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAW.DE and CBUG.DE have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBUG.DE is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBUG.DE is cheaper with a 0.10% expense ratio, compared with 0.18% for HPAW.DE.
HPAW.DE tracks MSCI World Climate Paris Aligned, while CBUG.DE tracks MSCI ACWI SMID NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.18% for HPAW.DE and 0.10% for CBUG.DE.
Find the right allocation for HPAW.DE and CBUG.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