SXR0.DE vs. HPAW.DE
SXR0.DE (iShares Edge MSCI World Minimum Volatility UCITS ETF EUR Hedged (Acc)) and HPAW.DE (HSBC MSCI World Climate Paris Aligned UCITS ETF) are both Global Equities funds - SXR0.DE tracks the MSCI World Minimum Volatility Index (EUR Hedged) while HPAW.DE tracks the MSCI World Climate Paris Aligned. Both are passively managed. Over the past 3 years, SXR0.DE returned 8.50%/yr vs 15.47%/yr for HPAW.DE. A 0.61 correlation means they provide meaningful diversification when combined. SXR0.DE charges 0.35%/yr vs 0.18%/yr for HPAW.DE.
Performance
SXR0.DE vs. HPAW.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SXR0.DE achieves a 2.62% return, which is significantly lower than HPAW.DE's 8.66% return.
SXR0.DE
- 1D
- 0.70%
- 1M
- 2.14%
- 6M
- 2.74%
- YTD
- 2.62%
- 1Y
- 4.36%
- 3Y*
- 8.50%
- 5Y*
- 4.62%
- 10Y*
- —
HPAW.DE
- 1D
- 0.00%
- 1M
- 1.63%
- 6M
- 7.22%
- YTD
- 8.66%
- 1Y
- 17.60%
- 3Y*
- 15.47%
- 5Y*
- —
- 10Y*
- —
SXR0.DE vs. HPAW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SXR0.DE iShares Edge MSCI World Minimum Volatility UCITS ETF EUR Hedged (Acc) | 2.62% | 7.02% | 13.29% | 5.81% | -9.67% | 4.17% |
HPAW.DE HSBC MSCI World Climate Paris Aligned UCITS ETF | 8.66% | 5.30% | 25.33% | 21.56% | -17.48% | 9.53% |
Correlation
The correlation between SXR0.DE and HPAW.DE is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2021 | 0.61 |
Over the past year, the correlation between SXR0.DE and HPAW.DE has dropped to 0.21 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.
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Return for Risk
SXR0.DE vs. HPAW.DE — Risk / Return Rank
SXR0.DE
HPAW.DE
SXR0.DE vs. HPAW.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI World Minimum Volatility UCITS ETF EUR Hedged (Acc) (SXR0.DE) and HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.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.
| SXR0.DE | HPAW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.27 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 1.96 | -1.14 |
| Martin ratioReturn relative to average drawdown | 1.77 | 7.18 | -5.41 |
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Drawdowns
SXR0.DE vs. HPAW.DE - Drawdown Comparison
The maximum SXR0.DE drawdown since its inception was -27.73%, which is greater than HPAW.DE's maximum drawdown of -21.61%. Use the drawdown chart below to compare losses from any high point for SXR0.DE and HPAW.DE.
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Drawdown Indicators
| SXR0.DE | HPAW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.73% | -21.61% | -6.12% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -9.00% | +3.74% |
Max Drawdown (3Y)Largest decline over 3 years | -9.18% | -21.61% | +12.43% |
Max Drawdown (5Y)Largest decline over 5 years | -15.61% | — | — |
Current DrawdownCurrent decline from peak | -1.49% | -0.27% | -1.22% |
Average DrawdownAverage peak-to-trough decline | -3.95% | -5.63% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.46% | 0.00% |
Volatility
SXR0.DE vs. HPAW.DE - Volatility Comparison
The current volatility for iShares Edge MSCI World Minimum Volatility UCITS ETF EUR Hedged (Acc) (SXR0.DE) is 2.16%, while HSBC MSCI World Climate Paris Aligned UCITS ETF (HPAW.DE) has a volatility of 2.75%. This indicates that SXR0.DE experiences smaller price fluctuations and is considered to be less risky than HPAW.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SXR0.DE | HPAW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 2.75% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 5.96% | 8.73% | -2.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.21% | 12.08% | -3.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.15% | 14.67% | -4.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.60% | 14.67% | -3.07% |
SXR0.DE vs. HPAW.DE - Expense Ratio Comparison
SXR0.DE has a 0.35% expense ratio, which is higher than HPAW.DE's 0.18% expense ratio.
Dividends
SXR0.DE vs. HPAW.DE - Dividend Comparison
Neither SXR0.DE nor HPAW.DE has paid dividends to shareholders.
Frequently Asked Questions
SXR0.DE and HPAW.DE have a correlation of 0.21, 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 0.35% for SXR0.DE.
SXR0.DE tracks MSCI World Minimum Volatility Index (EUR Hedged), while HPAW.DE tracks MSCI World Climate Paris Aligned. They also come from different issuers: iShares and HSBC. Their fees differ too: 0.35% for SXR0.DE and 0.18% for HPAW.DE.
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