HPAW.L vs. FLXK.L
HPAW.L (HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF) and FLXK.L (Franklin FTSE Korea UCITS ETF) are both Global Equities funds - HPAW.L tracks the HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF while FLXK.L tracks the Franklin FTSE Korea UCITS ETF. Both are passively managed. Over the past 5 years, HPAW.L returned 9.58%/yr vs 15.67%/yr for FLXK.L. A 0.62 correlation means they provide meaningful diversification when combined.
Performance
HPAW.L vs. FLXK.L - Performance Comparison
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Returns By Period
In the year-to-date period, HPAW.L achieves a 6.16% return, which is significantly lower than FLXK.L's 75.46% return.
HPAW.L
- 1D
- 0.24%
- 1M
- 0.03%
- 6M
- 6.34%
- YTD
- 6.16%
- 1Y
- 16.79%
- 3Y*
- 16.39%
- 5Y*
- 9.58%
- 10Y*
- —
FLXK.L
- 1D
- -1.68%
- 1M
- -19.56%
- 6M
- 57.13%
- YTD
- 75.46%
- 1Y
- 141.50%
- 3Y*
- 39.45%
- 5Y*
- 15.67%
- 10Y*
- —
HPAW.L vs. FLXK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HPAW.L HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF | 6.16% | 17.97% | 18.58% | 25.68% | -21.73% | 7.56% |
FLXK.L Franklin FTSE Korea UCITS ETF | 75.46% | 94.79% | -21.63% | 20.77% | -28.01% | -12.55% |
Correlation
The correlation between HPAW.L and FLXK.L is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.62 |
The correlation between HPAW.L and FLXK.L has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.
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Return for Risk
HPAW.L vs. FLXK.L — Risk / Return Rank
HPAW.L
FLXK.L
HPAW.L vs. FLXK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.L) and Franklin FTSE Korea UCITS ETF (FLXK.L). 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.L | FLXK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.47 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 5.86 | -4.21 |
| Martin ratioReturn relative to average drawdown | 6.44 | 18.40 | -11.96 |
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Drawdowns
HPAW.L vs. FLXK.L - Drawdown Comparison
The maximum HPAW.L drawdown since its inception was -29.31%, smaller than the maximum FLXK.L drawdown of -49.43%. Use the drawdown chart below to compare losses from any high point for HPAW.L and FLXK.L.
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Drawdown Indicators
| HPAW.L | FLXK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -49.43% | +20.12% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -24.10% | +14.00% |
Max Drawdown (3Y)Largest decline over 3 years | -17.47% | -28.54% | +11.07% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -47.00% | +17.69% |
Current DrawdownCurrent decline from peak | -1.00% | -24.10% | +23.10% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -20.23% | +13.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 7.70% | -5.10% |
Volatility
HPAW.L vs. FLXK.L - Volatility Comparison
The current volatility for HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.L) is 3.10%, while Franklin FTSE Korea UCITS ETF (FLXK.L) has a volatility of 19.75%. This indicates that HPAW.L experiences smaller price fluctuations and is considered to be less risky than FLXK.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HPAW.L | FLXK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 19.75% | -16.65% |
Volatility (6M)Calculated over the trailing 6-month period | 10.43% | 41.53% | -31.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 45.08% | -32.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 29.63% | -13.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 29.61% | -13.33% |
Dividends
HPAW.L vs. FLXK.L - Dividend Comparison
Neither HPAW.L nor FLXK.L has paid dividends to shareholders.
Frequently Asked Questions
HPAW.L and FLXK.L have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HPAW.L tracks HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF, while FLXK.L tracks Franklin FTSE Korea UCITS ETF. They also come from different issuers: HSBC and Franklin.
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