HPAW.DE vs. MVEW.DE
HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) and MVEW.DE (iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc)) are both Global Equities funds - HPAW.DE tracks the MSCI World Climate Paris Aligned while MVEW.DE tracks the MSCI ACWI NR USD. Both are passively managed. Over the past 3 years, HPAW.DE returned 15.22%/yr vs 6.53%/yr for MVEW.DE. A 0.70 correlation means they provide meaningful diversification when combined. HPAW.DE charges 0.18%/yr vs 0.30%/yr for MVEW.DE.
Performance
HPAW.DE vs. MVEW.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 MVEW.DE's 1.17% return.
HPAW.DE
- 1D
- 0.23%
- 1M
- 3.57%
- YTD
- 7.65%
- 6M
- 7.42%
- 1Y
- 18.83%
- 3Y*
- 15.22%
- 5Y*
- —
- 10Y*
- —
MVEW.DE
- 1D
- 0.07%
- 1M
- 2.04%
- YTD
- 1.17%
- 6M
- 1.03%
- 1Y
- 0.94%
- 3Y*
- 6.53%
- 5Y*
- 6.47%
- 10Y*
- —
HPAW.DE vs. MVEW.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% |
MVEW.DE iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) | 1.17% | -0.99% | 17.25% | 6.27% | -5.98% | 8.29% |
Correlation
The correlation between HPAW.DE and MVEW.DE is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021 | 0.70 |
Over the past year, the correlation between HPAW.DE and MVEW.DE has dropped to 0.42 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
HPAW.DE vs. MVEW.DE — Risk / Return Rank
HPAW.DE
MVEW.DE
HPAW.DE vs. MVEW.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 Minimum Volatility ESG UCITS ETF (Acc) (MVEW.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 | MVEW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.56 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.02 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 0.10 | +2.01 |
| Martin ratioReturn relative to average drawdown | 7.76 | 0.20 | +7.56 |
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 | MVEW.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.62 | 0.06 | +1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | 0.63 | +0.02 |
Drawdowns
HPAW.DE vs. MVEW.DE - Drawdown Comparison
The maximum HPAW.DE drawdown since its inception was -21.61%, which is greater than MVEW.DE's maximum drawdown of -13.19%. Use the drawdown chart below to compare losses from any high point for HPAW.DE and MVEW.DE.
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Drawdown Indicators
| HPAW.DE | MVEW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -13.19% | -8.42% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -4.68% | -4.32% |
Max Drawdown (3Y)Largest decline over 3 years | -21.61% | -13.19% | -8.42% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.19% | — |
Current DrawdownCurrent decline from peak | -0.37% | -5.75% | +5.38% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -3.83% | -1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 2.27% | +0.18% |
Volatility
HPAW.DE vs. MVEW.DE - Volatility Comparison
HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) has a higher volatility of 3.00% compared to iShares Edge MSCI World Minimum Volatility ESG UCITS ETF (Acc) (MVEW.DE) at 2.58%. This indicates that HPAW.DE's price experiences larger fluctuations and is considered to be riskier than MVEW.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 | MVEW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 2.58% | +0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 8.29% | 5.42% | +2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.75% | 7.97% | +3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 10.25% | +4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.72% | 10.82% | +3.90% |
HPAW.DE vs. MVEW.DE - Expense Ratio Comparison
HPAW.DE has a 0.18% expense ratio, which is lower than MVEW.DE's 0.30% expense ratio.
Dividends
HPAW.DE vs. MVEW.DE - Dividend Comparison
Neither HPAW.DE nor MVEW.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAW.DE and MVEW.DE have a correlation of 0.42, 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 MVEW.DE.
HPAW.DE tracks MSCI World Climate Paris Aligned, while MVEW.DE tracks MSCI ACWI NR USD. They also come from different issuers: HSBC and iShares. Their fees differ too: 0.18% for HPAW.DE and 0.30% for MVEW.DE.
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