HPAW.L vs. G500.L
HPAW.L (HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF) and G500.L (Invesco S&P 500 UCITS ETF (GBP Hdg)) are both Global Equities funds - HPAW.L tracks the HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF while G500.L tracks the Invesco S&P 500 UCITS ETF (GBP Hdg). Both are passively managed. Over the past 5 years, HPAW.L returned 9.58%/yr vs 11.80%/yr for G500.L. Their correlation of 0.90 suggests significant overlap in exposure.
Performance
HPAW.L vs. G500.L - Performance Comparison
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Different Trading Currencies
HPAW.L is traded in USD, while G500.L is traded in GBp. To make them comparable, the G500.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, HPAW.L achieves a 6.16% return, which is significantly lower than G500.L's 10.60% 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*
- —
G500.L
- 1D
- 0.00%
- 1M
- 0.92%
- 6M
- 10.32%
- YTD
- 10.60%
- 1Y
- 22.54%
- 3Y*
- 21.04%
- 5Y*
- 11.80%
- 10Y*
- —
HPAW.L vs. G500.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% |
G500.L Invesco S&P 500 UCITS ETF (GBP Hdg) | 10.60% | 26.32% | 22.89% | 31.47% | -28.53% | 8.52% |
Correlation
The correlation between HPAW.L and G500.L is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.90 |
The correlation between HPAW.L and G500.L has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.
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Return for Risk
HPAW.L vs. G500.L — Risk / Return Rank
HPAW.L
G500.L
HPAW.L vs. G500.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 Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.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 | G500.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.27 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 1.82 | -0.17 |
| Martin ratioReturn relative to average drawdown | 6.44 | 6.85 | -0.40 |
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Drawdowns
HPAW.L vs. G500.L - Drawdown Comparison
The maximum HPAW.L drawdown since its inception was -29.31%, smaller than the maximum G500.L drawdown of -39.54%. Use the drawdown chart below to compare losses from any high point for HPAW.L and G500.L.
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Drawdown Indicators
| HPAW.L | G500.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -39.54% | +10.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -12.56% | +2.46% |
Max Drawdown (3Y)Largest decline over 3 years | -17.47% | -17.75% | +0.28% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -39.54% | +10.23% |
Current DrawdownCurrent decline from peak | -1.00% | -0.10% | -0.90% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -8.08% | +0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 3.34% | -0.74% |
Volatility
HPAW.L vs. G500.L - Volatility Comparison
The current volatility for HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.L) is 3.10%, while Invesco S&P 500 UCITS ETF (GBP Hdg) (G500.L) has a volatility of 3.57%. This indicates that HPAW.L experiences smaller price fluctuations and is considered to be less risky than G500.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 | G500.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 3.57% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.43% | 11.66% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 14.98% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 20.37% | -4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 20.09% | -3.81% |
Dividends
HPAW.L vs. G500.L - Dividend Comparison
Neither HPAW.L nor G500.L has paid dividends to shareholders.
Frequently Asked Questions
HPAW.L and G500.L have a correlation of 0.90, 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 G500.L tracks Invesco S&P 500 UCITS ETF (GBP Hdg). They also come from different issuers: HSBC and Invesco.
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