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HDEM.L vs. IAPD.AS
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDEM.L vs. IAPD.AS

Last updated Jun 5, 2026

HDEM.L (Invesco FTSE EM High Dividend Low Volatility UCITS ETF) and IAPD.AS (iShares Asia Pacific Dividend UCITS ETF) are both exchange-traded funds - HDEM.L is a Emerging Markets Equities fund tracking the MSCI EM NR USD, while IAPD.AS is a Asia Pacific Equities fund tracking the MSCI AC Asia Pacific NR USD. Both are passively managed. A 0.59 correlation means they provide meaningful diversification when combined. HDEM.L charges 0.49%/yr vs 0.59%/yr for IAPD.AS.

Performance

HDEM.L vs. IAPD.AS - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

HDEM.L is traded in GBp, while IAPD.AS is traded in EUR. To make them comparable, the IAPD.AS values have been converted to GBp using the latest available exchange rates.

Returns By Period

HDEM.L

1D
-0.50%
1M
-2.19%
YTD
8.36%
6M
6.78%
1Y
25.44%
3Y*
12.01%
5Y*
6.83%
10Y*
8.19%

IAPD.AS

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HDEM.L vs. IAPD.AS - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDEM.L
Invesco FTSE EM High Dividend Low Volatility UCITS ETF		8.36%18.32%3.92%3.74%-6.39%15.10%-10.00%11.46%-1.01%16.23%
IAPD.AS
iShares Asia Pacific Dividend UCITS ETF		0.00%18.58%8.32%7.50%9.90%6.43%-12.07%10.18%-8.83%7.65%

Correlation

The correlation between HDEM.L and IAPD.AS is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.16

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

0.51

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

0.53

Correlation (10Y)
Calculated over the trailing 10-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Jun 1, 2016

0.59

Over the past year, the correlation between HDEM.L and IAPD.AS has dropped to 0.16 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

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

Invesco FTSE EM High Dividend Low Volatility UCITS ETF

iShares Asia Pacific Dividend UCITS ETF

Often compared with HDEM.L:
HDEM.L vs. EUHD.LHDEM.L vs. WTEI.DEHDEM.L vs. EUNY.DEHDEM.L vs. JEPG.LHDEM.L vs. SCHDHDEM.L vs. JGPI.DEHDEM.L vs. JEPQ
Often compared with IAPD.AS:
IAPD.AS vs. IUSA.LIAPD.AS vs. VPLIAPD.AS vs. EXSH.DEIAPD.AS vs. SPYGIAPD.AS vs. SPYDIAPD.AS vs. CPXJ.ASIAPD.AS vs. GBDV.L

Return for Risk

HDEM.L vs. IAPD.AS — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDEM.L
HDEM.L Risk / Return Rank: 7979
Overall Rank
HDEM.L Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
HDEM.L Sortino Ratio Rank: 8181
Sortino Ratio Rank
HDEM.L Omega Ratio Rank: 7474
Omega Ratio Rank
HDEM.L Calmar Ratio Rank: 8686
Calmar Ratio Rank
HDEM.L Martin Ratio Rank: 7474
Martin Ratio Rank
IAPD.AS
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.

HDEM.L vs. IAPD.AS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L) and iShares Asia Pacific Dividend UCITS ETF (IAPD.AS). 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.

HDEM.LIAPD.ASDifference
Sharpe ratioReturn per unit of total volatility
2.49

—

—

Sortino ratioReturn per unit of downside risk
3.58

—

—

Omega ratioGain probability vs. loss probability

1.43

—

—

Calmar ratioReturn relative to maximum drawdown

4.80

—

—

Martin ratioReturn relative to average drawdown

13.83

—

—

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

HDEM.L vs. IAPD.AS - Sharpe Ratio Comparison

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Sharpe Ratios by Period

HDEM.LIAPD.ASDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.49

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.52

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

—

—

Drawdowns

HDEM.L vs. IAPD.AS - Drawdown Comparison

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Drawdown Indicators

HDEM.LIAPD.ASDifference

Max Drawdown

Largest peak-to-trough decline

-32.18%

—

—

Max Drawdown (1Y)

Largest decline over 1 year

-5.28%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-12.22%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-18.05%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-32.18%

—

—

Current Drawdown

Current decline from peak

-3.70%

—

—

Average Drawdown

Average peak-to-trough decline

-6.84%

—

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.83%

—

—

Volatility

HDEM.L vs. IAPD.AS - Volatility Comparison

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Volatility by Period

HDEM.LIAPD.ASDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.93%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

7.52%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

10.18%

—

—

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.51%

—

—

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.82%

—

—

HDEM.L vs. IAPD.AS - Expense Ratio Comparison

HDEM.L has a 0.49% expense ratio, which is lower than IAPD.AS's 0.59% expense ratio.

Dividends

HDEM.L vs. IAPD.AS - Dividend Comparison

HDEM.L's dividend yield for the trailing twelve months is around 4.86%, which matches IAPD.AS's 4.85% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
IAPD.AS
iShares Asia Pacific Dividend UCITS ETF		4.85%5.02%5.58%6.33%7.38%6.33%4.28%6.18%6.90%5.48%4.80%5.95%

Frequently Asked Questions

HDEM.L and IAPD.AS have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, HDEM.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

HDEM.L is cheaper with a 0.49% expense ratio, compared with 0.59% for IAPD.AS.

HDEM.L is categorized as Emerging Markets Equities, while IAPD.AS is Asia Pacific Equities. HDEM.L tracks MSCI EM NR USD, while IAPD.AS tracks MSCI AC Asia Pacific NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.49% for HDEM.L and 0.59% for IAPD.AS.

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