EQSG.L vs. HDEM.L

Last updated Jun 5, 2026

EQSG.L (Invesco Nasdaq-100 Swap UCITS ETF Acc) and HDEM.L (Invesco FTSE EM High Dividend Low Volatility UCITS ETF) are both exchange-traded funds - EQSG.L is a Nasdaq-100 fund tracking the Russell 1000 Growth TR USD, while HDEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD. Both are passively managed. Over the past 5 years, EQSG.L returned 19.08%/yr vs 6.83%/yr for HDEM.L. At a 0.35 correlation, their price movements are largely independent. EQSG.L charges 0.20%/yr vs 0.49%/yr for HDEM.L.

Performance

EQSG.L vs. HDEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco Nasdaq-100 Swap UCITS ETF Acc (EQSG.L) and Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQSG.L achieves a 19.91% return, which is significantly higher than HDEM.L's 8.36% return.

EQSG.L

• 1D: -0.75%
• 1M: 8.13%
• YTD: 19.91%
• 6M: 17.66%
• 1Y: 41.07%
• 3Y*: 24.92%
• 5Y*: 19.08%
• 10Y*: —

HDEM.L

• 1D: -0.50%
• 1M: -2.51%
• YTD: 8.36%
• 6M: 7.58%
• 1Y: 25.73%
• 3Y*: 12.01%
• 5Y*: 6.83%
• 10Y*: 8.19%

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

EQSG.L vs. HDEM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
EQSG.L Invesco Nasdaq-100 Swap UCITS ETF Acc	19.91%	11.73%	28.75%	48.14%	-25.92%	32.20%
HDEM.L Invesco FTSE EM High Dividend Low Volatility UCITS ETF	8.36%	18.32%	3.92%	3.74%	-6.39%	10.10%

Correlation

The correlation between EQSG.L and HDEM.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Mar 26, 2021	0.35

EQSG.L vs. HDEM.L - Sectors Allocation Comparison

Sectors	EQSG.L	HDEM.L
Technology	53.7%	4.3%
Communication Services	15.8%	6.0%
Consumer Cyclical	12.2%	7.6%
Consumer Defensive	7.7%	6.9%
Healthcare	4.2%	1.6%
Industrials	3.1%	10.6%
Utilities	1.4%	9.9%
Basic Materials	1.1%	5.8%
Energy	0.6%	18.3%
Financial Services	0.2%	24.3%
Real Estate	0.1%	4.6%

Return for Risk

EQSG.L vs. HDEM.L — Risk / Return Rank

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

EQSG.L

EQSG.L Risk / Return Rank: 37
EQSG.L Sharpe Ratio Rank: 27
EQSG.L Sortino Ratio Rank: 33
EQSG.L Omega Ratio Rank: 79
EQSG.L Calmar Ratio Rank: 28
EQSG.L Martin Ratio Rank: 20

HDEM.L

HDEM.L Risk / Return Rank: 79
HDEM.L Sharpe Ratio Rank: 78
HDEM.L Sortino Ratio Rank: 81
HDEM.L Omega Ratio Rank: 74
HDEM.L Calmar Ratio Rank: 86
HDEM.L Martin Ratio Rank: 74

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.

EQSG.L vs. HDEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq-100 Swap UCITS ETF Acc (EQSG.L) and Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.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.

	EQSG.L	HDEM.L	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.49	-1.55
Sortino ratio: Return per unit of downside risk	1.73	3.58	-1.85
Omega ratio: Gain probability vs. loss probability	1.47	1.43	+0.04
Calmar ratio: Return relative to maximum drawdown	1.36	4.80	-3.44
Martin ratio: Return relative to average drawdown	2.21	13.83	-11.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQSG.L vs. HDEM.L - Sharpe Ratio Comparison

The current EQSG.L Sharpe Ratio is 0.94, which is lower than the HDEM.L Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of EQSG.L and HDEM.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.

Sharpe Ratios by Period

	EQSG.L	HDEM.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	2.49	-1.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.51	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.54	+0.01

Drawdowns

EQSG.L vs. HDEM.L - Drawdown Comparison

The maximum EQSG.L drawdown since its inception was -31.87%, roughly equal to the maximum HDEM.L drawdown of -32.18%. Use the drawdown chart below to compare losses from any high point for EQSG.L and HDEM.L.

Drawdown Indicators

	EQSG.L	HDEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.87%	-32.18%	+0.31%
Max Drawdown (1Y) Largest decline over 1 year	-30.73%	-5.28%	-25.45%
Max Drawdown (3Y) Largest decline over 3 years	-31.87%	-12.22%	-19.65%
Max Drawdown (5Y) Largest decline over 5 years	-31.87%	-18.05%	-13.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.18%	—
Current Drawdown Current decline from peak	-10.55%	-3.70%	-6.85%
Average Drawdown Average peak-to-trough decline	-13.16%	-6.84%	-6.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	18.86%	1.83%	+17.03%

Volatility

EQSG.L vs. HDEM.L - Volatility Comparison

Invesco Nasdaq-100 Swap UCITS ETF Acc (EQSG.L) has a higher volatility of 4.19% compared to Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L) at 2.93%. This indicates that EQSG.L's price experiences larger fluctuations and is considered to be riskier than HDEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EQSG.L	HDEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	2.93%	+1.26%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	7.52%	+2.75%
Volatility (1Y) Calculated over the trailing 1-year period	44.57%	10.18%	+34.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.45%	13.51%	+21.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.99%	15.82%	+19.17%

EQSG.L vs. HDEM.L - Expense Ratio Comparison

EQSG.L has a 0.20% expense ratio, which is lower than HDEM.L's 0.49% expense ratio.

Dividends

EQSG.L vs. HDEM.L - Dividend Comparison

EQSG.L has not paid dividends to shareholders, while HDEM.L's dividend yield for the trailing twelve months is around 4.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EQSG.L Invesco Nasdaq-100 Swap 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%
HDEM.L Invesco FTSE EM High Dividend Low Volatility UCITS ETF	4.86%	5.17%	5.62%	6.08%	8.93%	5.96%	4.31%	5.23%	5.37%	6.81%	2.78%

Frequently Asked Questions

Can I hold both EQSG.L and HDEM.L in my portfolio?

EQSG.L and HDEM.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EQSG.L or HDEM.L?

On fees, EQSG.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EQSG.L or HDEM.L?

EQSG.L is cheaper with a 0.20% expense ratio, compared with 0.49% for HDEM.L.

What is the main difference between EQSG.L and HDEM.L?

EQSG.L is categorized as Nasdaq-100, while HDEM.L is Emerging Markets Equities. EQSG.L tracks Russell 1000 Growth TR USD, while HDEM.L tracks MSCI EM NR USD. Their fees differ too: 0.20% for EQSG.L and 0.49% for HDEM.L.