HPAW.DE vs. IS3S.DE
HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) and IS3S.DE (iShares Edge MSCI World Value Factor UCITS ETF) are both Global Equities funds - HPAW.DE tracks the MSCI World Climate Paris Aligned while IS3S.DE tracks the MSCI World Enhanced Value. Both are passively managed. Over the past 3 years, HPAW.DE returned 15.22%/yr vs 26.82%/yr for IS3S.DE. A 0.78 correlation means they provide meaningful diversification when combined. HPAW.DE charges 0.18%/yr vs 0.30%/yr for IS3S.DE.
Performance
HPAW.DE vs. IS3S.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 lower than IS3S.DE's 35.27% return.
HPAW.DE
- 1D
- 0.23%
- 1M
- 3.57%
- YTD
- 7.65%
- 6M
- 7.42%
- 1Y
- 18.83%
- 3Y*
- 15.22%
- 5Y*
- —
- 10Y*
- —
IS3S.DE
- 1D
- -0.83%
- 1M
- 11.04%
- YTD
- 35.27%
- 6M
- 38.20%
- 1Y
- 63.38%
- 3Y*
- 26.82%
- 5Y*
- 17.35%
- 10Y*
- 12.60%
HPAW.DE vs. IS3S.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% | 9.48% |
IS3S.DE iShares Edge MSCI World Value Factor UCITS ETF | 35.27% | 25.13% | 11.36% | 15.62% | -4.81% | 6.23% |
Correlation
The correlation between HPAW.DE and IS3S.DE is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.78 |
The correlation between HPAW.DE and IS3S.DE has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.
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Return for Risk
HPAW.DE vs. IS3S.DE — Risk / Return Rank
HPAW.DE
IS3S.DE
HPAW.DE vs. IS3S.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 Edge MSCI World Value Factor UCITS ETF (IS3S.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 | IS3S.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.92 | ||
| Sortino ratioReturn per unit of downside risk | -3.83 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.83 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 10.36 | -8.24 |
| Martin ratioReturn relative to average drawdown | 7.76 | 39.01 | -31.25 |
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 | IS3S.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 4.53 | -2.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.24 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.68 | -0.03 |
Drawdowns
HPAW.DE vs. IS3S.DE - Drawdown Comparison
The maximum HPAW.DE drawdown since its inception was -21.61%, smaller than the maximum IS3S.DE drawdown of -35.18%. Use the drawdown chart below to compare losses from any high point for HPAW.DE and IS3S.DE.
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Drawdown Indicators
| HPAW.DE | IS3S.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -35.18% | +13.57% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -6.09% | -2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -21.61% | -17.80% | -3.81% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.18% | — |
Current DrawdownCurrent decline from peak | -0.37% | -0.83% | +0.46% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -5.82% | +0.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 1.62% | +0.83% |
Volatility
HPAW.DE vs. IS3S.DE - Volatility Comparison
The current volatility for HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) is 3.00%, while iShares Edge MSCI World Value Factor UCITS ETF (IS3S.DE) has a volatility of 5.62%. This indicates that HPAW.DE experiences smaller price fluctuations and is considered to be less risky than IS3S.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 | IS3S.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 5.62% | -2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 8.29% | 11.32% | -3.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 13.93% | -2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 13.85% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.72% | 15.76% | -1.04% |
HPAW.DE vs. IS3S.DE - Expense Ratio Comparison
HPAW.DE has a 0.18% expense ratio, which is lower than IS3S.DE's 0.30% expense ratio.
Dividends
HPAW.DE vs. IS3S.DE - Dividend Comparison
Neither HPAW.DE nor IS3S.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAW.DE and IS3S.DE have a correlation of 0.73, 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 0.30% for IS3S.DE.
HPAW.DE tracks MSCI World Climate Paris Aligned, while IS3S.DE tracks MSCI World Enhanced Value. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.18% for HPAW.DE and 0.30% for IS3S.DE.
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