FGEQ.DE vs. HDLV.L

Last updated Jun 13, 2026

FGEQ.DE (Fidelity Global Quality Income UCITS ETF Inc) and HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) are both exchange-traded funds - FGEQ.DE is a Global Equities fund tracking the Fidelity Global Quality Income index, while HDLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 5 years, FGEQ.DE returned 11.56%/yr vs 6.82%/yr for HDLV.L. A 0.64 correlation means they provide meaningful diversification when combined. FGEQ.DE charges 0.40%/yr vs 0.30%/yr for HDLV.L.

Performance

FGEQ.DE vs. HDLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in Fidelity Global Quality Income UCITS ETF Inc (FGEQ.DE) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FGEQ.DE is traded in EUR, while HDLV.L is traded in USD. To make them comparable, the HDLV.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with FGEQ.DE having a 10.75% return and HDLV.L slightly lower at 10.47%.

FGEQ.DE

• 1D: 1.13%
• 1M: 3.34%
• YTD: 10.75%
• 6M: 11.50%
• 1Y: 23.95%
• 3Y*: 14.29%
• 5Y*: 11.56%
• 10Y*: —

HDLV.L

• 1D: 0.87%
• 1M: 6.25%
• YTD: 10.47%
• 6M: 10.62%
• 1Y: 12.78%
• 3Y*: 8.99%
• 5Y*: 6.82%
• 10Y*: 6.68%

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

FGEQ.DE vs. HDLV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGEQ.DE Fidelity Global Quality Income UCITS ETF Inc	10.75%	7.19%	17.91%	14.09%	-6.13%	33.16%	0.16%	31.75%	-3.42%	-2.69%
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	10.47%	-8.72%	24.07%	-1.83%	6.67%	34.14%	-18.26%	21.49%	-2.76%	-3.24%

Correlation

The correlation between FGEQ.DE and HDLV.L is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 27, 2017	0.64

Over the past year, the correlation between FGEQ.DE and HDLV.L has dropped to 0.32 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

FGEQ.DE vs. HDLV.L — Risk / Return Rank

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

FGEQ.DE

FGEQ.DE Risk / Return Rank: 84
FGEQ.DE Sharpe Ratio Rank: 82
FGEQ.DE Sortino Ratio Rank: 83
FGEQ.DE Omega Ratio Rank: 82
FGEQ.DE Calmar Ratio Rank: 85
FGEQ.DE Martin Ratio Rank: 88

HDLV.L

HDLV.L Risk / Return Rank: 35
HDLV.L Sharpe Ratio Rank: 37
HDLV.L Sortino Ratio Rank: 37
HDLV.L Omega Ratio Rank: 33
HDLV.L Calmar Ratio Rank: 39
HDLV.L Martin Ratio Rank: 31

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.

FGEQ.DE vs. HDLV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Global Quality Income UCITS ETF Inc (FGEQ.DE) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.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.

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.

	FGEQ.DE	HDLV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.10	+1.20
Sortino ratio: Return per unit of downside risk	3.23	1.62	+1.62
Omega ratio: Gain probability vs. loss probability	1.43	1.19	+0.24
Calmar ratio: Return relative to maximum drawdown	4.07	1.98	+2.09
Martin ratio: Return relative to average drawdown	16.99	4.99	+12.00

FGEQ.DE vs. HDLV.L - Sharpe Ratio Comparison

The current FGEQ.DE Sharpe Ratio is 2.31, which is higher than the HDLV.L Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of FGEQ.DE and HDLV.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.

Drawdowns

FGEQ.DE vs. HDLV.L - Drawdown Comparison

The maximum FGEQ.DE drawdown since its inception was -34.37%, smaller than the maximum HDLV.L drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for FGEQ.DE and HDLV.L.

Drawdown Indicators

	FGEQ.DE	HDLV.L	Difference
Max Drawdown Largest peak-to-trough decline	-34.37%	-39.32%	+4.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.86%	-6.42%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	-18.44%	-1.45%
Max Drawdown (5Y) Largest decline over 5 years	-19.89%	-20.29%	+0.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.32%	—
Current Drawdown Current decline from peak	0.00%	-4.20%	+4.20%
Average Drawdown Average peak-to-trough decline	-4.79%	-7.71%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	2.55%	-1.15%

Volatility

FGEQ.DE vs. HDLV.L - Volatility Comparison

The current volatility for Fidelity Global Quality Income UCITS ETF Inc (FGEQ.DE) is 2.22%, while Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) has a volatility of 4.03%. This indicates that FGEQ.DE experiences smaller price fluctuations and is considered to be less risky than HDLV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGEQ.DE	HDLV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.22%	4.03%	-1.81%
Volatility (6M) Calculated over the trailing 6-month period	7.54%	8.70%	-1.16%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	11.59%	-1.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	14.20%	-1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.35%	16.61%	+1.74%

FGEQ.DE vs. HDLV.L - Expense Ratio Comparison

FGEQ.DE has a 0.40% expense ratio, which is higher than HDLV.L's 0.30% expense ratio.

Dividends

FGEQ.DE vs. HDLV.L - Dividend Comparison

FGEQ.DE's dividend yield for the trailing twelve months is around 1.80%, less than HDLV.L's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGEQ.DE Fidelity Global Quality Income UCITS ETF Inc	1.80%	1.90%	2.26%	2.77%	2.81%	2.39%	2.65%	2.34%	2.75%	1.57%	0.00%	0.00%
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	3.56%	3.91%	3.54%	4.04%	3.56%	3.37%	4.35%	3.69%	3.79%	3.07%	3.07%	1.89%

Frequently Asked Questions

Can I hold both FGEQ.DE and HDLV.L in my portfolio?

FGEQ.DE and HDLV.L have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FGEQ.DE or HDLV.L?

On fees, HDLV.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FGEQ.DE or HDLV.L?

HDLV.L is cheaper with a 0.30% expense ratio, compared with 0.40% for FGEQ.DE.

What is the main difference between FGEQ.DE and HDLV.L?

FGEQ.DE is categorized as Global Equities, while HDLV.L is S&P 500. FGEQ.DE tracks Fidelity Global Quality Income index, while HDLV.L tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.40% for FGEQ.DE and 0.30% for HDLV.L.