EHBA.DE vs. SMLD.DE
EHBA.DE (Invesco Euro Corporate Hybrid Bond UCITS ETF Acc) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - EHBA.DE is a European Corporate Bonds fund tracking the Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 5 years, EHBA.DE returned 1.96%/yr vs 17.25%/yr for SMLD.DE. At a 0.12 correlation, their price movements are largely independent. EHBA.DE charges 0.39%/yr vs 0.50%/yr for SMLD.DE.
Performance
EHBA.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, EHBA.DE achieves a 1.67% return, which is significantly lower than SMLD.DE's 19.81% return.
EHBA.DE
- 1D
- 0.09%
- 1M
- 0.76%
- 6M
- 1.90%
- YTD
- 1.67%
- 1Y
- 3.82%
- 3Y*
- 8.32%
- 5Y*
- 1.96%
- 10Y*
- —
SMLD.DE
- 1D
- 0.81%
- 1M
- -1.44%
- 6M
- 18.91%
- YTD
- 19.81%
- 1Y
- 15.83%
- 3Y*
- 15.35%
- 5Y*
- 17.25%
- 10Y*
- 6.59%
EHBA.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 1.67% | 5.24% | 10.78% | 9.40% | -14.85% | 1.16% | 3.63% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 19.81% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | 15.19% |
Correlation
The correlation between EHBA.DE and SMLD.DE is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 17, 2020 | 0.12 |
The correlation between EHBA.DE and SMLD.DE shifts across timeframes, from -0.11 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EHBA.DE vs. SMLD.DE — Risk / Return Rank
EHBA.DE
SMLD.DE
EHBA.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| EHBA.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.17 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.63 | -0.61 |
| Martin ratioReturn relative to average drawdown | 3.64 | 3.59 | +0.05 |
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Drawdowns
EHBA.DE vs. SMLD.DE - Drawdown Comparison
The maximum EHBA.DE drawdown since its inception was -20.61%, smaller than the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for EHBA.DE and SMLD.DE.
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Drawdown Indicators
| EHBA.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.61% | -83.65% | +63.04% |
Max Drawdown (1Y)Largest decline over 1 year | -3.72% | -9.68% | +5.96% |
Max Drawdown (3Y)Largest decline over 3 years | -3.72% | -22.99% | +19.27% |
Max Drawdown (5Y)Largest decline over 5 years | -20.61% | -22.99% | +2.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.32% | — |
Current DrawdownCurrent decline from peak | -0.28% | -4.21% | +3.93% |
Average DrawdownAverage peak-to-trough decline | -5.52% | -34.00% | +28.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 4.40% | -3.35% |
Volatility
EHBA.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco Euro Corporate Hybrid Bond UCITS ETF Acc (EHBA.DE) is 1.12%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 4.56%. This indicates that EHBA.DE experiences smaller price fluctuations and is considered to be less risky than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EHBA.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 4.56% | -3.44% |
Volatility (6M)Calculated over the trailing 6-month period | 3.66% | 13.00% | -9.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 16.45% | -12.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.03% | 20.31% | -15.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 29.07% | -24.24% |
EHBA.DE vs. SMLD.DE - Expense Ratio Comparison
EHBA.DE has a 0.39% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
EHBA.DE vs. SMLD.DE - Dividend Comparison
EHBA.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EHBA.DE Invesco Euro Corporate Hybrid Bond UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.76% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
Frequently Asked Questions
EHBA.DE and SMLD.DE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EHBA.DE is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EHBA.DE is cheaper with a 0.39% expense ratio, compared with 0.50% for SMLD.DE.
EHBA.DE is categorized as European Corporate Bonds, while SMLD.DE is Energy Equities. EHBA.DE tracks Bloomberg Euro Universal Corporate ex Financials Hybrid Capital Securities 8% Capped Bond Index, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.39% for EHBA.DE and 0.50% for SMLD.DE.
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