HPAW.DE vs. XDEM.DE
HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) and XDEM.DE (Xtrackers MSCI World Momentum Factor UCITS ETF 1C) are both exchange-traded funds - HPAW.DE is a Global Equities fund tracking the MSCI World Climate Paris Aligned, while XDEM.DE is a Momentum fund tracking the MSCI World Momentum Index. Both are passively managed. Over the past 3 years, HPAW.DE returned 15.65%/yr vs 28.45%/yr for XDEM.DE. Their correlation of 0.82 suggests significant overlap in exposure. HPAW.DE charges 0.18%/yr vs 0.25%/yr for XDEM.DE.
Performance
HPAW.DE vs. XDEM.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HPAW.DE achieves a 7.42% return, which is significantly lower than XDEM.DE's 29.03% return.
HPAW.DE
- 1D
- 0.00%
- 1M
- 0.57%
- YTD
- 7.42%
- 6M
- 7.69%
- 1Y
- 19.60%
- 3Y*
- 15.65%
- 5Y*
- —
- 10Y*
- —
XDEM.DE
- 1D
- 1.63%
- 1M
- 6.79%
- YTD
- 29.03%
- 6M
- 28.98%
- 1Y
- 40.31%
- 3Y*
- 28.45%
- 5Y*
- 15.28%
- 10Y*
- 16.73%
HPAW.DE vs. XDEM.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAW.DE HSBC MSCI World Climate Paris Aligned UCITS ETF | 7.42% | 5.30% | 25.33% | 21.56% | -17.48% | 9.53% |
XDEM.DE Xtrackers MSCI World Momentum Factor UCITS ETF 1C | 29.03% | 8.09% | 38.22% | 8.18% | -13.65% | 7.07% |
Correlation
The correlation between HPAW.DE and XDEM.DE is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2021 | 0.82 |
The correlation between HPAW.DE and XDEM.DE has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.
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Return for Risk
HPAW.DE vs. XDEM.DE — Risk / Return Rank
HPAW.DE
XDEM.DE
HPAW.DE vs. XDEM.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 Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HPAW.DE | XDEM.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.40 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.19 | 4.45 | -2.27 |
| Martin ratioReturn relative to average drawdown | 8.01 | 16.95 | -8.94 |
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Drawdowns
HPAW.DE vs. XDEM.DE - Drawdown Comparison
The maximum HPAW.DE drawdown since its inception was -21.61%, smaller than the maximum XDEM.DE drawdown of -30.94%. Use the drawdown chart below to compare losses from any high point for HPAW.DE and XDEM.DE.
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Drawdown Indicators
| HPAW.DE | XDEM.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.61% | -30.94% | +9.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.00% | -9.01% | +0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -21.61% | -23.51% | +1.90% |
Max Drawdown (5Y)Largest decline over 5 years | — | -23.51% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.94% | — |
Current DrawdownCurrent decline from peak | -0.58% | -1.24% | +0.66% |
Average DrawdownAverage peak-to-trough decline | -5.70% | -7.38% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 2.37% | +0.08% |
Volatility
HPAW.DE vs. XDEM.DE - Volatility Comparison
The current volatility for HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) is 3.15%, while Xtrackers MSCI World Momentum Factor UCITS ETF 1C (XDEM.DE) has a volatility of 6.97%. This indicates that HPAW.DE experiences smaller price fluctuations and is considered to be less risky than XDEM.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 | XDEM.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 6.97% | -3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 8.68% | 15.01% | -6.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.10% | 17.90% | -5.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 17.51% | -2.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.72% | 18.14% | -3.42% |
HPAW.DE vs. XDEM.DE - Expense Ratio Comparison
HPAW.DE has a 0.18% expense ratio, which is lower than XDEM.DE's 0.25% expense ratio. Despite the difference, 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. XDEM.DE - Dividend Comparison
Neither HPAW.DE nor XDEM.DE has paid dividends to shareholders.
Frequently Asked Questions
HPAW.DE and XDEM.DE have a correlation of 0.76, 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 0.25% for XDEM.DE.
HPAW.DE is categorized as Global Equities, while XDEM.DE is Momentum. HPAW.DE tracks MSCI World Climate Paris Aligned, while XDEM.DE tracks MSCI World Momentum Index. They also come from different issuers: HSBC and DWS. Their fees differ too: 0.18% for HPAW.DE and 0.25% for XDEM.DE.
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