MVEA.L vs. HPAS.L
MVEA.L (iShares Edge MSCI USA Minimum Volatility ESG UCITS ETF) and HPAS.L (HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from iShares and HSBC respectively. Both are passively managed. Over the past 3 years, MVEA.L returned 6.81%/yr vs 17.72%/yr for HPAS.L. A 0.72 correlation means they provide meaningful diversification when combined. MVEA.L charges 0.20%/yr vs 0.12%/yr for HPAS.L.
Performance
MVEA.L vs. HPAS.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MVEA.L achieves a 1.73% return, which is significantly lower than HPAS.L's 10.66% return.
MVEA.L
- 1D
- 0.03%
- 1M
- 3.05%
- YTD
- 1.73%
- 6M
- 1.61%
- 1Y
- 3.60%
- 3Y*
- 6.81%
- 5Y*
- 7.01%
- 10Y*
- —
HPAS.L
- 1D
- 0.03%
- 1M
- 8.95%
- YTD
- 10.66%
- 6M
- 10.37%
- 1Y
- 27.35%
- 3Y*
- 17.72%
- 5Y*
- —
- 10Y*
- —
MVEA.L vs. HPAS.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MVEA.L iShares Edge MSCI USA Minimum Volatility ESG UCITS ETF | 1.73% | -2.72% | 14.94% | 6.35% | -1.55% | 10.42% |
HPAS.L HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc | 10.66% | 5.65% | 26.90% | 22.43% | -14.66% | 11.67% |
Correlation
The correlation between MVEA.L and HPAS.L is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021 | 0.72 |
Over the past year, the correlation between MVEA.L and HPAS.L has dropped to 0.42 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MVEA.L vs. HPAS.L — Risk / Return Rank
MVEA.L
HPAS.L
MVEA.L vs. HPAS.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Minimum Volatility ESG UCITS ETF (MVEA.L) and HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAS.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.
| MVEA.L | HPAS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.84 | ||
| Sortino ratioReturn per unit of downside risk | -2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.41 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.17 | -1.51 |
| Martin ratioReturn relative to average drawdown | 1.64 | 6.23 | -4.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MVEA.L | HPAS.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 2.25 | -1.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 0.76 | -0.15 |
Drawdowns
MVEA.L vs. HPAS.L - Drawdown Comparison
The maximum MVEA.L drawdown since its inception was -14.36%, smaller than the maximum HPAS.L drawdown of -23.23%. Use the drawdown chart below to compare losses from any high point for MVEA.L and HPAS.L.
Loading charts...
Drawdown Indicators
| MVEA.L | HPAS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -23.23% | +8.87% |
Max Drawdown (1Y)Largest decline over 1 year | -5.43% | -12.57% | +7.14% |
Max Drawdown (3Y)Largest decline over 3 years | -14.36% | -23.23% | +8.87% |
Max Drawdown (5Y)Largest decline over 5 years | -14.36% | — | — |
Current DrawdownCurrent decline from peak | -6.95% | -0.09% | -6.86% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -5.99% | +1.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 4.38% | -2.19% |
Volatility
MVEA.L vs. HPAS.L - Volatility Comparison
The current volatility for iShares Edge MSCI USA Minimum Volatility ESG UCITS ETF (MVEA.L) is 2.87%, while HSBC MSCI USA Climate Paris Aligned UCITS ETF USD Acc (HPAS.L) has a volatility of 3.26%. This indicates that MVEA.L experiences smaller price fluctuations and is considered to be less risky than HPAS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MVEA.L | HPAS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.26% | -0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 6.11% | 8.55% | -2.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.60% | 12.09% | -3.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.61% | 15.73% | -4.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.94% | 15.73% | -3.79% |
MVEA.L vs. HPAS.L - Expense Ratio Comparison
MVEA.L has a 0.20% expense ratio, which is higher than HPAS.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MVEA.L vs. HPAS.L - Dividend Comparison
Neither MVEA.L nor HPAS.L has paid dividends to shareholders.
Frequently Asked Questions
MVEA.L and HPAS.L have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HPAS.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HPAS.L is cheaper with a 0.12% expense ratio, compared with 0.20% for MVEA.L.
Both ETFs track Russell 1000 TR USD. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.20% for MVEA.L and 0.12% for HPAS.L.
Find the right allocation for MVEA.L and HPAS.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer