# HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD (HPNS) **Page:** https://fundology.uk/fund/hpns · ISIN IE00096S6AV7 ## At a glance > Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise. As of 13/11/2026, HPNS (HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD, ISIN IE00096S6AV7) closed at £9.78 on the London Stock Exchange. Its ongoing charge is 0.35% a year (about £35 on £10,000). Over the year to 13/11/2026 its total return was +7.5%, or +3.6% after UK CPIH inflation. ## Summary HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD is an exchange-traded fund (ETF) from HSBC, launched in 2024. It tracks the FTSE EPRA Nareit Developed Green EU PAB Index - Benchmark TR Net. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.35% a year — about £35 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. Latest close: **£9.78** (13/11/2026). ## Key facts | Fact | Value | |---|---| | Ticker (LSE) | HPNS | | ISIN | IE00096S6AV7 | | Also listed as | HPNA (London Stock Exchange, US dollars) | | Category | Property & infrastructure | | Type | ETF | | Provider | HSBC | | Tracks | FTSE EPRA Nareit Developed Green EU PAB Index - Benchmark TR Net | | Income | Accumulating | | Ongoing charge | 0.35% a year (£35 per £10,000) | | Fund size | £47.0m | | Launched | 2024 | | Domicile | Ireland | | UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 13/03/2024 | ## Past returns (periods to 13/11/2026) After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation. | Window | Return | After CPIH inflation | Measured as | |---|---|---|---| | 1 year | +7.45% | +3.65% | income reinvested | Returns: as reported (delayed data). Inflation: UK CPIH, latest month published. ## Calendar-year returns Calendar-year returns of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund): 2025 −2.1%; 2026 to 13/11/2026 +11.5%. Returns of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +2.6%; to 30/09/2025: −4.7%. | Year | Return | After CPIH inflation | Measured as | |---|---|---|---| | 2025 | -2.1% | -5.5% | Price | | 2026 to 13/11/2026 | +11.5% | +7.9% | Price | ## Risk metrics | Window | Volatility | Max drawdown | |---|---|---| | 1 year | 13.72% | -11.67% | ## Largest fall Volatility of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD in pounds, annualised from weekly returns to 13/11/2026: 13.7% over 1 year. Largest fall in the price of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD since March 2024, in pounds: −15.5% from 13/09/2024 to 11/04/2025. The lowest 12-month return of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD in pounds (price, with income reinvested in the fund) since March 2024 was −7.2% (12 months to 12/09/2025); the highest was +15.7% (12 months to 31/07/2026). On 13/11/2026 the price of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD was 3.8% below its highest weekly close since March 2024 (24/07/2026), in pounds. ## Charges compared with similar funds Ongoing charge of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD 0.35% a year. Compared on 14/11/2026, 35 of the 45 other property and infrastructure funds charge more, 2 the same and 8 less (share classes counted once). ## Funds tracking the same index 2 funds track FTSE EPRA Nareit Developed Green EU PAB Index - Benchmark TR Net, this one included and share classes counted once; their ongoing charges range from 0.35% to 0.35% a year (13/11/2026). | Fund | Ongoing charge | 1 year | 3 years | 5 years | |---|---|---|---|---| | HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF Accum- USD | 0.35% | +7.4% | — | — | | HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD (this fund) | 0.35% | +7.5% | — | — | Returns are as reported, in pounds, income reinvested unless marked "(price)". ## Charges & eligibility - Ongoing charges figure (OCF): **0.35%** per year - Stocks and shares ISA eligible: usually (check with your platform) - SIPP eligible: usually (check with your provider) - ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify. ## What it holds As of 06/11/2026, HPNS holds 247 positions, according to its published holdings. The largest is Welltower at 10.18% of the fund; the ten largest make up 43.9%. ### Top holdings Largest positions (as of 06/11/2026), as a percentage of the whole fund: | # | Holding | Ticker | Weight | |---|---|---|---| | 1 | Welltower | [WELL](https://fundology.uk/stock/WELL) | 10.18% | | 2 | Public Storage | [PSA](https://fundology.uk/stock/PSA) | 5.97% | | 3 | Swiss Prime Site | [SPSN](https://fundology.uk/stock/SPSN) | 3.96% | | 4 | Vivmark Residential | [VMRK](https://fundology.uk/stock/VMRK) | 3.92% | | 5 | Realty Income | [O](https://fundology.uk/stock/O) | 3.80% | | 6 | Host Hotels & Resorts | [HST](https://fundology.uk/stock/HST) | 3.59% | | 7 | Invitation Homes | [INVH](https://fundology.uk/stock/INVH) | 3.51% | | 8 | Extra Space Storage | [EXR](https://fundology.uk/stock/EXR) | 3.43% | | 9 | Vonovia | [VNA](https://fundology.uk/stock/VNA) | 2.84% | | 10 | Iron Mountain Incorporated (Delaware) | [IRM](https://fundology.uk/stock/IRM) | 2.67% | ## Where it invests Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed. ### By country Added up from the fund’s published holdings, as of 03/11/2026. | Country | Weight | |---|---| | United States | 59.3% | | Switzerland | 7.1% | | United Kingdom | 6.3% | | France | 5.9% | | Sweden | 4.5% | | Singapore | 3.5% | | Germany | 3.4% | | Japan | 3.1% | | Other countries | 5.9% | | Not classified | 0.9% | The 233 holdings on record (of 247 reported): https://fundology.uk/fund/hpns/holdings ## Questions people ask **What is the ongoing charge of HPNS?** The ongoing charge of HPNS is 0.35% a year — about £35 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of HSBC FTSE EPRA NAREIT Developed Climate Paris Aligned UCITS ETF AccumUSD 0.35% a year. Compared on 14/11/2026, 35 of the 45 other property and infrastructure funds charge more, 2 the same and 8 less (share classes counted once). **What does HPNS track?** HPNS tracks the FTSE EPRA Nareit Developed Green EU PAB Index - Benchmark TR Net. **Is HPNS accumulating or distributing?** HPNS is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you. **What is the ISIN of HPNS?** The ISIN of HPNS is IE00096S6AV7. An ISIN identifies one exact share class of a fund; HPNS is its ticker on the London Stock Exchange. The same share class is also listed as HPNA (London Stock Exchange, US dollars). **What does HPNS hold?** As of 06/11/2026, HPNS holds 247 positions, according to its published holdings. The largest is Welltower at 10.18% of the fund; the ten largest make up 43.9%. Its ten largest holdings are Welltower (10.18%), Public Storage (5.97%), Swiss Prime Site (3.96%), Vivmark Residential (3.92%), Realty Income (3.80%), Host Hotels & Resorts (3.59%), Invitation Homes (3.51%), Extra Space Storage (3.43%), Vonovia (2.84%) and Iron Mountain Incorporated (Delaware) (2.67%). **What were HPNS’s returns in each of the last five years?** Calendar-year returns of HPNS in pounds (price, with income reinvested in the fund): 2025 −2.1%; 2026 to 13/11/2026 +11.5%. Past performance is not a guide to future returns. **How has HPNS done after inflation?** Over the year to 13/11/2026 HPNS’s total return was +7.5%, or +3.6% after UK CPIH inflation. Past performance is not a guide to future returns. ## Fund documents - [Fund page at HSBC Asset Management](https://www.assetmanagement.hsbc.co.uk/en/individual-investor/funds/ie00096s6av7) - [Key investor information document (KIID)](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00096s6av7/gb/en/kiid) - [Factsheet](https://www.assetmanagement.hsbc.co.uk/api/v1/download/document/ie00096s6av7/gb/en/factsheet) - Links checked 12/10/2026. --- We show information. We are not financial advisers, not authorised by the FCA, and never recommend specific investments. Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.