HPAW.DE vs. H4Z6.DE
HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) and H4Z6.DE (HSBC MSCI China UCITS ETF USD (Acc)) are both exchange-traded funds - HPAW.DE is a Global Equities fund tracking the MSCI World Climate Paris Aligned, while H4Z6.DE is a China Equities fund tracking the MSCI China. Both are passively managed. Over the past 3 years, HPAW.DE returned 15.22%/yr vs 7.78%/yr for H4Z6.DE. At a 0.30 correlation, their price movements are largely independent. HPAW.DE charges 0.18%/yr vs 0.28%/yr for H4Z6.DE.
Performance
HPAW.DE vs. H4Z6.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HPAW.DE achieves a 7.65% return, which is significantly higher than H4Z6.DE's -6.53% return.
HPAW.DE
- 1D
- 0.23%
- 1M
- 3.57%
- YTD
- 7.65%
- 6M
- 7.42%
- 1Y
- 18.83%
- 3Y*
- 15.22%
- 5Y*
- —
- 10Y*
- —
H4Z6.DE
- 1D
- -0.38%
- 1M
- -3.35%
- YTD
- -6.53%
- 6M
- -9.01%
- 1Y
- 2.78%
- 3Y*
- 7.78%
- 5Y*
- —
- 10Y*
- —
HPAW.DE vs. H4Z6.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HPAW.DE HSBC MSCI World Climate Paris Aligned UCITS ETF | 7.65% | 5.30% | 25.33% | 21.56% | -7.21% |
H4Z6.DE HSBC MSCI China UCITS ETF USD (Acc) | -6.53% | 16.48% | 27.04% | -14.63% | -10.19% |
Correlation
The correlation between HPAW.DE and H4Z6.DE is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jul 26, 2022 | 0.30 |
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Return for Risk
HPAW.DE vs. H4Z6.DE — Risk / Return Rank
HPAW.DE
H4Z6.DE
HPAW.DE vs. H4Z6.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 HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.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 | H4Z6.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.04 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 0.18 | +1.93 |
| Martin ratioReturn relative to average drawdown | 7.76 | 0.38 | +7.38 |
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
| HPAW.DE | H4Z6.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 0.17 | +1.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.06 | +0.59 |
Drawdowns
HPAW.DE vs. H4Z6.DE - Drawdown Comparison
The maximum HPAW.DE drawdown since its inception was -21.61%, smaller than the maximum H4Z6.DE drawdown of -33.47%. Use the drawdown chart below to compare losses from any high point for HPAW.DE and H4Z6.DE.
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Drawdown Indicators
| HPAW.DE | H4Z6.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -33.47% | +11.86% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -16.85% | +7.85% |
Max Drawdown (3Y)Largest decline over 3 years | -21.61% | -24.47% | +2.86% |
Current DrawdownCurrent decline from peak | -0.37% | -14.82% | +14.45% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -13.91% | +8.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 8.17% | -5.72% |
Volatility
HPAW.DE vs. H4Z6.DE - Volatility Comparison
The current volatility for HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) is 3.00%, while HSBC MSCI China UCITS ETF USD (Acc) (H4Z6.DE) has a volatility of 7.23%. This indicates that HPAW.DE experiences smaller price fluctuations and is considered to be less risky than H4Z6.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPAW.DE | H4Z6.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 7.23% | -4.23% |
Volatility (6M)Calculated over the trailing 6-month period | 8.29% | 13.11% | -4.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 18.60% | -6.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 25.28% | -10.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.72% | 25.28% | -10.56% |
HPAW.DE vs. H4Z6.DE - Expense Ratio Comparison
HPAW.DE has a 0.18% expense ratio, which is lower than H4Z6.DE's 0.28% expense ratio.
Dividends
HPAW.DE vs. H4Z6.DE - Dividend Comparison
Neither HPAW.DE nor H4Z6.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAW.DE and H4Z6.DE have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPAW.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPAW.DE is cheaper with a 0.18% expense ratio, compared with 0.28% for H4Z6.DE.
HPAW.DE is categorized as Global Equities, while H4Z6.DE is China Equities. HPAW.DE tracks MSCI World Climate Paris Aligned, while H4Z6.DE tracks MSCI China. Their fees differ too: 0.18% for HPAW.DE and 0.28% for H4Z6.DE.
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