HPAW.L vs. LGUS.L
HPAW.L (HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF) and LGUS.L (L&G US Equity UCITS ETF) are both Global Equities funds - HPAW.L tracks the HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF while LGUS.L tracks the L&G US Equity UCITS ETF. Both are passively managed. Over the past 5 years, HPAW.L returned 9.58%/yr vs 12.82%/yr for LGUS.L. Their correlation of 0.95 suggests significant overlap in exposure.
Performance
HPAW.L vs. LGUS.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 LGUS.L's 10.34% 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*
- —
LGUS.L
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 9.90%
- YTD
- 10.34%
- 1Y
- 21.64%
- 3Y*
- 20.40%
- 5Y*
- 12.82%
- 10Y*
- —
HPAW.L vs. LGUS.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% |
LGUS.L L&G US Equity UCITS ETF | 10.34% | 17.98% | 25.09% | 28.66% | -20.46% | 9.86% |
Correlation
The correlation between HPAW.L and LGUS.L is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021 | 0.95 |
The correlation between HPAW.L and LGUS.L has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
HPAW.L vs. LGUS.L — Risk / Return Rank
HPAW.L
LGUS.L
HPAW.L vs. LGUS.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 L&G US Equity UCITS ETF (LGUS.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 | LGUS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.32 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.65 | 2.59 | -0.94 |
| Martin ratioReturn relative to average drawdown | 6.44 | 9.99 | -3.54 |
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Drawdowns
HPAW.L vs. LGUS.L - Drawdown Comparison
The maximum HPAW.L drawdown since its inception was -29.31%, smaller than the maximum LGUS.L drawdown of -34.26%. Use the drawdown chart below to compare losses from any high point for HPAW.L and LGUS.L.
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Drawdown Indicators
| HPAW.L | LGUS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.31% | -34.26% | +4.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.10% | -8.58% | -1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -17.47% | -19.46% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -29.31% | -25.64% | -3.67% |
Current DrawdownCurrent decline from peak | -1.00% | -0.49% | -0.51% |
Average DrawdownAverage peak-to-trough decline | -7.12% | -5.30% | -1.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.23% | +0.37% |
Volatility
HPAW.L vs. LGUS.L - Volatility Comparison
HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.L) has a higher volatility of 3.10% compared to L&G US Equity UCITS ETF (LGUS.L) at 2.86%. This indicates that HPAW.L's price experiences larger fluctuations and is considered to be riskier than LGUS.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 | LGUS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.10% | 2.86% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 10.43% | 9.41% | +1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.01% | 12.47% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.30% | 16.51% | -0.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 18.10% | -1.82% |
Dividends
HPAW.L vs. LGUS.L - Dividend Comparison
Neither HPAW.L nor LGUS.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, HPAW.L and LGUS.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
HPAW.L tracks HSBC ETFs PLC - HSBC MSCI World Climate Paris Aligned UCITS ETF, while LGUS.L tracks L&G US Equity UCITS ETF. They also come from different issuers: HSBC and L&G.
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