EHDL.DE vs. P500.DE

Last updated Jul 4, 2026

EHDL.DE (Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF) and P500.DE (Invesco S&P 500 UCITS ETF) are both exchange-traded funds - EHDL.DE is a Emerging Markets Equities fund tracking the FTSE Emerging High Dividend Low Volatility Index, while P500.DE is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, EHDL.DE returned 6.47%/yr vs 15.07%/yr for P500.DE. At a 0.47 correlation, their price movements are largely independent. EHDL.DE charges 0.49%/yr vs 0.05%/yr for P500.DE.

Performance

EHDL.DE vs. P500.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF (EHDL.DE) and Invesco S&P 500 UCITS ETF (P500.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EHDL.DE achieves a 9.26% return, which is significantly lower than P500.DE's 12.30% return. Over the past 10 years, EHDL.DE has underperformed P500.DE with an annualized return of 6.47%, while P500.DE has yielded a comparatively higher 15.07% annualized return.

EHDL.DE

• 1D: 1.22%
• 1M: -0.90%
• 6M: 8.37%
• YTD: 9.26%
• 1Y: 19.74%
• 3Y*: 11.75%
• 5Y*: 6.50%
• 10Y*: 6.47%

P500.DE

• 1D: 0.23%
• 1M: 0.61%
• 6M: 13.07%
• YTD: 12.30%
• 1Y: 24.17%
• 3Y*: 18.56%
• 5Y*: 13.90%
• 10Y*: 15.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EHDL.DE vs. P500.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EHDL.DE Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF	9.26%	12.82%	8.32%	6.17%	-10.93%	22.11%	-15.54%	19.11%	-2.44%	9.35%
P500.DE Invesco S&P 500 UCITS ETF	12.30%	4.83%	32.66%	22.56%	-14.02%	41.17%	6.99%	34.95%	-1.01%	6.74%

Correlation

The correlation between EHDL.DE and P500.DE is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 27, 2016	0.47

Return for Risk

EHDL.DE vs. P500.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EHDL.DE

EHDL.DE Risk / Return Rank: 69
EHDL.DE Sharpe Ratio Rank: 65
EHDL.DE Sortino Ratio Rank: 64
EHDL.DE Omega Ratio Rank: 63
EHDL.DE Calmar Ratio Rank: 84
EHDL.DE Martin Ratio Rank: 68

P500.DE

P500.DE Risk / Return Rank: 77
P500.DE Sharpe Ratio Rank: 77
P500.DE Sortino Ratio Rank: 75
P500.DE Omega Ratio Rank: 76
P500.DE Calmar Ratio Rank: 79
P500.DE Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EHDL.DE vs. P500.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF (EHDL.DE) and Invesco S&P 500 UCITS ETF (P500.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.

	EHDL.DE	P500.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.74	2.01	-0.28
Sortino ratio: Return per unit of downside risk	2.44	2.76	-0.32
Omega ratio: Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	3.73	3.39	+0.34
Martin ratio: Return relative to average drawdown	10.05	12.01	-1.96

EHDL.DE vs. P500.DE - Sharpe Ratio Comparison

The current EHDL.DE Sharpe Ratio is 1.74, which is comparable to the P500.DE Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of EHDL.DE and P500.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EHDL.DE vs. P500.DE - Drawdown Comparison

The maximum EHDL.DE drawdown since its inception was -36.13%, which is greater than P500.DE's maximum drawdown of -33.85%. Use the drawdown chart below to compare losses from any high point for EHDL.DE and P500.DE.

Drawdown Indicators

	EHDL.DE	P500.DE	Difference
Max Drawdown Largest peak-to-trough decline	-36.13%	-33.85%	-2.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.26%	-7.10%	+1.84%
Max Drawdown (3Y) Largest decline over 3 years	-14.85%	-23.39%	+8.54%
Max Drawdown (5Y) Largest decline over 5 years	-18.80%	-23.39%	+4.59%
Max Drawdown (10Y) Largest decline over 10 years	-36.13%	-33.85%	-2.28%
Current Drawdown Current decline from peak	-3.59%	-0.60%	-2.99%
Average Drawdown Average peak-to-trough decline	-9.11%	-3.84%	-5.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	2.01%	-0.05%

Volatility

EHDL.DE vs. P500.DE - Volatility Comparison

Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF (EHDL.DE) has a higher volatility of 3.89% compared to Invesco S&P 500 UCITS ETF (P500.DE) at 3.66%. This indicates that EHDL.DE's price experiences larger fluctuations and is considered to be riskier than P500.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EHDL.DE	P500.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.66%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	8.13%	8.08%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	11.32%	12.00%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.61%	15.22%	-1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	16.07%	+1.95%

EHDL.DE vs. P500.DE - Expense Ratio Comparison

EHDL.DE has a 0.49% expense ratio, which is higher than P500.DE's 0.05% expense ratio.

Dividends

EHDL.DE vs. P500.DE - Dividend Comparison

EHDL.DE's dividend yield for the trailing twelve months is around 4.87%, while P500.DE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EHDL.DE Invesco FTSE Emerging Markets High Dividend Low Volatility UCITS ETF	4.87%	5.27%	5.58%	6.15%	9.20%	5.91%	4.28%	5.04%	5.45%	5.14%	2.24%
P500.DE Invesco S&P 500 UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EHDL.DE and P500.DE in my portfolio?

EHDL.DE and P500.DE have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EHDL.DE or P500.DE?

On fees, P500.DE is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EHDL.DE or P500.DE?

P500.DE is cheaper with a 0.05% expense ratio, compared with 0.49% for EHDL.DE.

What is the main difference between EHDL.DE and P500.DE?

EHDL.DE is categorized as Emerging Markets Equities, while P500.DE is S&P 500. EHDL.DE tracks FTSE Emerging High Dividend Low Volatility Index, while P500.DE tracks S&P 500 Index. Their fees differ too: 0.49% for EHDL.DE and 0.05% for P500.DE.