HPAW.DE vs. VDIV.DE

Last updated Jun 5, 2026

HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) and VDIV.DE (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) are both Global Equities funds - HPAW.DE tracks the MSCI World Climate Paris Aligned while VDIV.DE tracks the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. Both are passively managed. Over the past 3 years, HPAW.DE returned 15.22%/yr vs 19.95%/yr for VDIV.DE. A 0.59 correlation means they provide meaningful diversification when combined. HPAW.DE charges 0.18%/yr vs 0.38%/yr for VDIV.DE.

Performance

HPAW.DE vs. VDIV.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) and VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HPAW.DE achieves a 7.65% return, which is significantly lower than VDIV.DE's 9.79% return.

HPAW.DE

• 1D: 0.23%
• 1M: 3.57%
• YTD: 7.65%
• 6M: 7.42%
• 1Y: 18.83%
• 3Y*: 15.22%
• 5Y*: —
• 10Y*: —

VDIV.DE

• 1D: 0.23%
• 1M: -0.18%
• YTD: 9.79%
• 6M: 12.68%
• 1Y: 25.52%
• 3Y*: 19.95%
• 5Y*: 17.51%
• 10Y*: —

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

HPAW.DE vs. VDIV.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%
VDIV.DE VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	9.79%	24.55%	15.67%	11.47%	15.47%	7.37%

Correlation

The correlation between HPAW.DE and VDIV.DE is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (All Time) Calculated using the full available price history since Aug 11, 2021	0.59

The correlation between HPAW.DE and VDIV.DE shifts across timeframes, from 0.41 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HPAW.DE vs. VDIV.DE — Risk / Return Rank

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

HPAW.DE

HPAW.DE Risk / Return Rank: 47
HPAW.DE Sharpe Ratio Rank: 47
HPAW.DE Sortino Ratio Rank: 48
HPAW.DE Omega Ratio Rank: 47
HPAW.DE Calmar Ratio Rank: 44
HPAW.DE Martin Ratio Rank: 48

VDIV.DE

VDIV.DE Risk / Return Rank: 88
VDIV.DE Sharpe Ratio Rank: 84
VDIV.DE Sortino Ratio Rank: 86
VDIV.DE Omega Ratio Rank: 85
VDIV.DE Calmar Ratio Rank: 94
VDIV.DE Martin Ratio Rank: 90

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.

HPAW.DE vs. VDIV.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 VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.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	VDIV.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.73	-1.11
Sortino ratio: Return per unit of downside risk	2.30	3.85	-1.55
Omega ratio: Gain probability vs. loss probability	1.30	1.51	-0.21
Calmar ratio: Return relative to maximum drawdown	2.11	6.94	-4.82
Martin ratio: Return relative to average drawdown	7.76	20.46	-12.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HPAW.DE vs. VDIV.DE - Sharpe Ratio Comparison

The current HPAW.DE Sharpe Ratio is 1.62, which is lower than the VDIV.DE Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of HPAW.DE and VDIV.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

	HPAW.DE	VDIV.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	2.73	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.94	-0.29

Drawdowns

HPAW.DE vs. VDIV.DE - Drawdown Comparison

The maximum HPAW.DE drawdown since its inception was -21.61%, smaller than the maximum VDIV.DE drawdown of -36.12%. Use the drawdown chart below to compare losses from any high point for HPAW.DE and VDIV.DE.

Drawdown Indicators

	HPAW.DE	VDIV.DE	Difference
Max Drawdown Largest peak-to-trough decline	-21.61%	-36.12%	+14.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.00%	-3.68%	-5.32%
Max Drawdown (3Y) Largest decline over 3 years	-21.61%	-15.12%	-6.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.12%	—
Current Drawdown Current decline from peak	-0.37%	-2.39%	+2.02%
Average Drawdown Average peak-to-trough decline	-5.75%	-4.22%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.25%	+1.20%

Volatility

HPAW.DE vs. VDIV.DE - Volatility Comparison

HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) has a higher volatility of 3.00% compared to VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (VDIV.DE) at 2.82%. This indicates that HPAW.DE's price experiences larger fluctuations and is considered to be riskier than VDIV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HPAW.DE	VDIV.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	2.82%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	8.29%	6.79%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.75%	9.36%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.72%	11.92%	+2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.72%	15.36%	-0.64%

HPAW.DE vs. VDIV.DE - Expense Ratio Comparison

HPAW.DE has a 0.18% expense ratio, which is lower than VDIV.DE's 0.38% expense ratio.

Dividends

HPAW.DE vs. VDIV.DE - Dividend Comparison

HPAW.DE has not paid dividends to shareholders, while VDIV.DE's dividend yield for the trailing twelve months is around 3.19%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
HPAW.DE HSBC MSCI World Climate Paris Aligned UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDIV.DE VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.19%	3.58%	4.19%	4.97%	4.56%	3.97%	4.11%	4.35%	0.91%

Frequently Asked Questions

Can I hold both HPAW.DE and VDIV.DE in my portfolio?

HPAW.DE and VDIV.DE have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HPAW.DE or VDIV.DE?

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.

Which ETF is cheaper, HPAW.DE or VDIV.DE?

HPAW.DE is cheaper with a 0.18% expense ratio, compared with 0.38% for VDIV.DE.

What is the main difference between HPAW.DE and VDIV.DE?

HPAW.DE tracks MSCI World Climate Paris Aligned, while VDIV.DE tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index. They also come from different issuers: HSBC and VanEck. Their fees differ too: 0.18% for HPAW.DE and 0.38% for VDIV.DE.