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EMID.L vs. HDEU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMID.L vs. HDEU.L

Last updated Jun 5, 2026

EMID.L (iShares MSCI Europe Mid Cap UCITS ETF) and HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) are both Europe Equities funds - EMID.L tracks the MSCI Europe SMID NR EUR while HDEU.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, EMID.L returned 7.51%/yr vs 12.72%/yr for HDEU.L. Their correlation of 0.81 suggests significant overlap in exposure. EMID.L charges 0.15%/yr vs 0.30%/yr for HDEU.L.

Performance

EMID.L vs. HDEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares MSCI Europe Mid Cap UCITS ETF (EMID.L) and PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EMID.L achieves a 7.96% return, which is significantly lower than HDEU.L's 10.26% return.

EMID.L

1D
0.28%
1M
1.54%
YTD
7.96%
6M
10.75%
1Y
15.92%
3Y*
15.26%
5Y*
7.51%
10Y*
—

HDEU.L

1D
-0.29%
1M
0.67%
YTD
10.26%
6M
12.11%
1Y
21.06%
3Y*
20.15%
5Y*
12.72%
10Y*
8.16%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EMID.L vs. HDEU.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EMID.L
iShares MSCI Europe Mid Cap UCITS ETF		7.96%22.78%9.31%14.05%-18.34%21.37%4.10%29.56%-12.91%2.91%
HDEU.L
PowerShares EURO STOXX High Dividend Low Volatility UCITS		10.26%35.87%10.18%13.58%-8.23%21.08%-17.97%17.34%-8.18%0.30%

Correlation

The correlation between EMID.L and HDEU.L is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.73

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Jun 7, 2017

0.81

The correlation between EMID.L and HDEU.L has been stable across timeframes, ranging from 0.73 to 0.81 - a consistent structural relationship.

EMID.L vs. HDEU.L - Sectors Allocation Comparison

Sectors
EMID.L
HDEU.L

Industrials

26.4%
3.7%

Financial Services

21.4%
35.6%

Healthcare

8.0%
0.0%

Consumer Defensive

7.3%
3.7%

Consumer Cyclical

7.2%
10.2%

Communication Services

6.7%
6.3%

Basic Materials

6.2%
9.9%

Utilities

6.0%
12.1%

Real Estate

3.9%
11.5%

Energy

3.7%
6.9%

Technology

3.1%

-

Industrials

EMID.L
26.4%
HDEU.L
3.7%

Financial Services

EMID.L
21.4%
HDEU.L
35.6%

Healthcare

EMID.L
8.0%
HDEU.L
0.0%

Consumer Defensive

EMID.L
7.3%
HDEU.L
3.7%

Consumer Cyclical

EMID.L
7.2%
HDEU.L
10.2%

Communication Services

EMID.L
6.7%
HDEU.L
6.3%

Basic Materials

EMID.L
6.2%
HDEU.L
9.9%

Utilities

EMID.L
6.0%
HDEU.L
12.1%

Real Estate

EMID.L
3.9%
HDEU.L
11.5%

Energy

EMID.L
3.7%
HDEU.L
6.9%

Technology

EMID.L
3.1%
HDEU.L

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI Europe Mid Cap UCITS ETF

PowerShares EURO STOXX High Dividend Low Volatility UCITS

Often compared with EMID.L:
EMID.L vs. ZPDX.DEEMID.L vs. IMV.LEMID.L vs. LCPE.LEMID.L vs. EEIP.LEMID.L vs. EQDS.LEMID.L vs. EEI.LEMID.L vs. ISAC.L
Often compared with HDEU.L:
HDEU.L vs. EUN0.DEHDEU.L vs. GLDHDEU.L vs. VDIV.DEHDEU.L vs. WINC.ASHDEU.L vs. ISPA.DEHDEU.L vs. H50E.LHDEU.L vs. EUNK.DE

Return for Risk

EMID.L vs. HDEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMID.L
EMID.L Risk / Return Rank: 4040
Overall Rank
EMID.L Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
EMID.L Sortino Ratio Rank: 3737
Sortino Ratio Rank
EMID.L Omega Ratio Rank: 3939
Omega Ratio Rank
EMID.L Calmar Ratio Rank: 3939
Calmar Ratio Rank
EMID.L Martin Ratio Rank: 4444
Martin Ratio Rank
HDEU.L
HDEU.L Risk / Return Rank: 6464
Overall Rank
HDEU.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HDEU.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
HDEU.L Omega Ratio Rank: 6464
Omega Ratio Rank
HDEU.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
HDEU.L Martin Ratio Rank: 6464
Martin Ratio Rank
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.

EMID.L vs. HDEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Mid Cap UCITS ETF (EMID.L) and PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.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.

EMID.LHDEU.LDifference
Sharpe ratioReturn per unit of total volatility
1.35
2.07

-0.72

Sortino ratioReturn per unit of downside risk
1.90
2.74

-0.83

Omega ratioGain probability vs. loss probability

1.25

1.38

-0.13

Calmar ratioReturn relative to maximum drawdown

1.89

3.57

-1.68

Martin ratioReturn relative to average drawdown

7.07

11.36

-4.28

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMID.L vs. HDEU.L - Sharpe Ratio Comparison

The current EMID.L Sharpe Ratio is 1.35, which is lower than the HDEU.L Sharpe Ratio of 2.07. The chart below compares the historical Sharpe Ratios of EMID.L and HDEU.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EMID.LHDEU.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.35

2.07

-0.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.49

0.94

-0.45

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.51

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.49

0.51

-0.02

Drawdowns

EMID.L vs. HDEU.L - Drawdown Comparison

The maximum EMID.L drawdown since its inception was -37.57%, smaller than the maximum HDEU.L drawdown of -40.22%. Use the drawdown chart below to compare losses from any high point for EMID.L and HDEU.L.

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Drawdown Indicators

EMID.LHDEU.LDifference

Max Drawdown

Largest peak-to-trough decline

-37.57%

-40.22%

+2.65%

Max Drawdown (1Y)

Largest decline over 1 year

-8.39%

-5.88%

-2.51%

Max Drawdown (3Y)

Largest decline over 3 years

-14.04%

-12.86%

-1.18%

Max Drawdown (5Y)

Largest decline over 5 years

-29.12%

-22.45%

-6.67%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.22%

—

Current Drawdown

Current decline from peak

-1.22%

-1.97%

+0.75%

Average Drawdown

Average peak-to-trough decline

-6.84%

-5.72%

-1.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

1.85%

+0.40%

Volatility

EMID.L vs. HDEU.L - Volatility Comparison

iShares MSCI Europe Mid Cap UCITS ETF (EMID.L) has a higher volatility of 3.95% compared to PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) at 3.12%. This indicates that EMID.L's price experiences larger fluctuations and is considered to be riskier than HDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMID.LHDEU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

3.12%

+0.83%

Volatility (6M)

Calculated over the trailing 6-month period

9.53%

7.85%

+1.68%

Volatility (1Y)

Calculated over the trailing 1-year period

11.77%

10.14%

+1.63%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.21%

13.50%

+1.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.28%

15.95%

+0.33%

EMID.L vs. HDEU.L - Expense Ratio Comparison

EMID.L has a 0.15% expense ratio, which is lower than HDEU.L's 0.30% expense ratio.

Dividends

EMID.L vs. HDEU.L - Dividend Comparison

EMID.L's dividend yield for the trailing twelve months is around 2.57%, less than HDEU.L's 3.98% yield.

PositionTTM2025202420232022202120202019201820172016
EMID.L
iShares MSCI Europe Mid Cap UCITS ETF		2.57%2.78%2.75%2.42%2.61%1.78%1.39%2.33%2.84%0.48%0.00%
HDEU.L
PowerShares EURO STOXX High Dividend Low Volatility UCITS		3.98%4.71%5.77%5.56%5.60%4.21%3.04%4.50%4.38%3.44%3.59%

Frequently Asked Questions

EMID.L and HDEU.L have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, EMID.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

EMID.L is cheaper with a 0.15% expense ratio, compared with 0.30% for HDEU.L.

EMID.L tracks MSCI Europe SMID NR EUR, while HDEU.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.15% for EMID.L and 0.30% for HDEU.L.

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