FLXD.L vs. HDEU.L

Last updated Jun 5, 2026

FLXD.L (Franklin European Quality Dividend UCITS ETF) and HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) are both Europe Equities funds - FLXD.L tracks the MSCI Europe High Div Yld NR EUR while HDEU.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 5 years, FLXD.L returned 13.18%/yr vs 12.89%/yr for HDEU.L. A 0.76 correlation means they provide meaningful diversification when combined. FLXD.L charges 0.25%/yr vs 0.30%/yr for HDEU.L.

Performance

FLXD.L vs. HDEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Franklin European Quality Dividend UCITS ETF (FLXD.L) and PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FLXD.L is traded in GBP, while HDEU.L is traded in EUR. To make them comparable, the HDEU.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with FLXD.L having a 9.29% return and HDEU.L slightly higher at 9.45%.

FLXD.L

• 1D: 0.49%
• 1M: -0.03%
• YTD: 9.29%
• 6M: 12.43%
• 1Y: 20.53%
• 3Y*: 19.08%
• 5Y*: 13.18%
• 10Y*: —

HDEU.L

• 1D: -0.17%
• 1M: 0.90%
• YTD: 9.45%
• 6M: 11.03%
• 1Y: 24.34%
• 3Y*: 20.33%
• 5Y*: 12.89%
• 10Y*: 9.21%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLXD.L Franklin European Quality Dividend UCITS ETF	9.29%	31.50%	8.51%	9.23%	6.26%	10.54%	1.48%	13.79%	-11.21%	-3.30%
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS	9.45%	43.14%	5.17%	11.31%	-3.49%	13.90%	-13.33%	10.68%	-7.27%	0.45%

Correlation

The correlation between FLXD.L and HDEU.L is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 11, 2017	0.76

The correlation between FLXD.L and HDEU.L shifts across timeframes, from 0.64 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

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

Sectors	FLXD.L	HDEU.L
Financial Services	35.8%	35.6%
Communication Services	16.3%	6.3%
Energy	11.6%	6.9%
Healthcare	10.3%	0.0%
Industrials	7.9%	3.7%
Basic Materials	5.2%	9.9%
Consumer Defensive	4.6%	3.7%
Real Estate	3.5%	11.5%
Utilities	3.1%	12.1%
Consumer Cyclical	1.0%	10.2%
Technology	0.7%	-

Return for Risk

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

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

FLXD.L

FLXD.L Risk / Return Rank: 80
FLXD.L Sharpe Ratio Rank: 75
FLXD.L Sortino Ratio Rank: 79
FLXD.L Omega Ratio Rank: 74
FLXD.L Calmar Ratio Rank: 91
FLXD.L Martin Ratio Rank: 81

HDEU.L

HDEU.L Risk / Return Rank: 64
HDEU.L Sharpe Ratio Rank: 63
HDEU.L Sortino Ratio Rank: 58
HDEU.L Omega Ratio Rank: 64
HDEU.L Calmar Ratio Rank: 72
HDEU.L Martin Ratio Rank: 64

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.

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

This table presents a comparison of risk-adjusted performance metrics for Franklin European Quality Dividend UCITS ETF (FLXD.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.

	FLXD.L	HDEU.L	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.30	+0.10
Sortino ratio: Return per unit of downside risk	3.51	3.07	+0.43
Omega ratio: Gain probability vs. loss probability	1.43	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	5.64	3.38	+2.26
Martin ratio: Return relative to average drawdown	15.75	11.58	+4.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FLXD.L Sharpe Ratio is 2.40, which is comparable to the HDEU.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FLXD.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.

Sharpe Ratios by Period

	FLXD.L	HDEU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.30	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.21	0.92	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.60	+0.04

Drawdowns

FLXD.L vs. HDEU.L - Drawdown Comparison

The maximum FLXD.L drawdown since its inception was -29.71%, smaller than the maximum HDEU.L drawdown of -35.89%. Use the drawdown chart below to compare losses from any high point for FLXD.L and HDEU.L.

Drawdown Indicators

	FLXD.L	HDEU.L	Difference
Max Drawdown Largest peak-to-trough decline	-29.71%	-35.89%	+6.18%
Max Drawdown (1Y) Largest decline over 1 year	-3.62%	-7.16%	+3.54%
Max Drawdown (3Y) Largest decline over 3 years	-7.78%	-11.63%	+3.85%
Max Drawdown (5Y) Largest decline over 5 years	-11.76%	-19.85%	+8.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.89%	—
Current Drawdown Current decline from peak	-2.77%	-2.02%	-0.75%
Average Drawdown Average peak-to-trough decline	-4.13%	-5.39%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	2.10%	-0.80%

Volatility

FLXD.L vs. HDEU.L - Volatility Comparison

The current volatility for Franklin European Quality Dividend UCITS ETF (FLXD.L) is 2.67%, while PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) has a volatility of 3.24%. This indicates that FLXD.L experiences smaller price fluctuations and is considered to be less risky than HDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLXD.L	HDEU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	3.24%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	6.95%	8.18%	-1.23%
Volatility (1Y) Calculated over the trailing 1-year period	8.52%	10.52%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.85%	13.95%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.91%	16.05%	-3.14%

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

FLXD.L has a 0.25% expense ratio, which is lower than HDEU.L's 0.30% expense ratio.

Dividends

FLXD.L vs. HDEU.L - Dividend Comparison

FLXD.L's dividend yield for the trailing twelve months is around 4.37%, more than HDEU.L's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLXD.L Franklin European Quality Dividend UCITS ETF	4.37%	4.90%	5.18%	5.75%	5.87%	5.51%	3.90%	1.53%	1.09%	0.00%	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

Can I hold both FLXD.L and HDEU.L in my portfolio?

FLXD.L and HDEU.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLXD.L or HDEU.L?

On fees, FLXD.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLXD.L or HDEU.L?

FLXD.L is cheaper with a 0.25% expense ratio, compared with 0.30% for HDEU.L.

What is the main difference between FLXD.L and HDEU.L?

FLXD.L tracks MSCI Europe High Div Yld NR EUR, while HDEU.L tracks MSCI EMU NR EUR. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.25% for FLXD.L and 0.30% for HDEU.L.