HDEU.L vs. FRXD.L

Last updated Jul 16, 2026

HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) and FRXD.L (Franklin European Quality Dividend UCITS ETF) are both Europe Equities funds - HDEU.L tracks the MSCI EMU NR EUR while FRXD.L tracks the Franklin European Quality Dividend UCITS ETF. Both are passively managed. Over the past 5 years, HDEU.L returned 13.60%/yr vs 12.20%/yr for FRXD.L. A 0.77 correlation means they provide meaningful diversification when combined. HDEU.L charges 0.30%/yr vs 0.25%/yr for FRXD.L.

Performance

HDEU.L vs. FRXD.L - Performance Comparison

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

Returns By Period

In the year-to-date period, HDEU.L achieves a 14.95% return, which is significantly higher than FRXD.L's 11.06% return.

HDEU.L

• 1D: 0.20%
• 1M: 2.60%
• 6M: 12.56%
• YTD: 14.95%
• 1Y: 25.62%
• 3Y*: 21.84%
• 5Y*: 13.60%
• 10Y*: 8.95%

FRXD.L

• 1D: -0.85%
• 1M: -1.52%
• 6M: 10.24%
• YTD: 11.06%
• 1Y: 19.06%
• 3Y*: 19.64%
• 5Y*: 12.20%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS	14.95%	35.86%	10.17%	13.59%	-8.21%	21.05%	-17.96%	17.35%	-8.19%	3.22%
FRXD.L Franklin European Quality Dividend UCITS ETF	11.06%	24.01%	12.76%	10.32%	-0.01%	17.27%	-4.30%	24.47%	-9.31%	-0.60%

Correlation

The correlation between HDEU.L and FRXD.L is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 8, 2017	0.77

The correlation between HDEU.L and FRXD.L shifts across timeframes, from 0.62 (3 years) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

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

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

HDEU.L

HDEU.L Risk / Return Rank: 89
HDEU.L Sharpe Ratio Rank: 91
HDEU.L Sortino Ratio Rank: 88
HDEU.L Omega Ratio Rank: 89
HDEU.L Calmar Ratio Rank: 90
HDEU.L Martin Ratio Rank: 85

FRXD.L

FRXD.L Risk / Return Rank: 86
FRXD.L Sharpe Ratio Rank: 85
FRXD.L Sortino Ratio Rank: 86
FRXD.L Omega Ratio Rank: 82
FRXD.L Calmar Ratio Rank: 94
FRXD.L Martin Ratio Rank: 85

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.

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

This table presents a comparison of risk-adjusted performance metrics for PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) and Franklin European Quality Dividend UCITS ETF (FRXD.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.

	HDEU.L	FRXD.L	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.16	+0.31
Sortino ratio: Return per unit of downside risk	3.23	3.10	+0.12
Omega ratio: Gain probability vs. loss probability	1.45	1.39	+0.06
Calmar ratio: Return relative to maximum drawdown	4.33	5.71	-1.38
Martin ratio: Return relative to average drawdown	13.85	13.52	+0.33

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

The current HDEU.L Sharpe Ratio is 2.47, which is comparable to the FRXD.L Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of HDEU.L and FRXD.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

HDEU.L vs. FRXD.L - Drawdown Comparison

The maximum HDEU.L drawdown since its inception was -40.22%, which is greater than FRXD.L's maximum drawdown of -35.42%. Use the drawdown chart below to compare losses from any high point for HDEU.L and FRXD.L.

Drawdown Indicators

	HDEU.L	FRXD.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.22%	-35.42%	-4.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.89%	-3.30%	-2.59%
Max Drawdown (3Y) Largest decline over 3 years	-12.88%	-10.26%	-2.62%
Max Drawdown (5Y) Largest decline over 5 years	-22.43%	-14.39%	-8.04%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	—	—
Current Drawdown Current decline from peak	0.00%	-2.31%	+2.31%
Average Drawdown Average peak-to-trough decline	-5.74%	-3.86%	-1.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.39%	+0.46%

Volatility

HDEU.L vs. FRXD.L - Volatility Comparison

PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) has a higher volatility of 2.83% compared to Franklin European Quality Dividend UCITS ETF (FRXD.L) at 2.57%. This indicates that HDEU.L's price experiences larger fluctuations and is considered to be riskier than FRXD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDEU.L	FRXD.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	2.57%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	8.20%	6.82%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	8.72%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	11.25%	+2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	13.50%	+2.05%

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

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

Dividends

HDEU.L vs. FRXD.L - Dividend Comparison

HDEU.L's dividend yield for the trailing twelve months is around 3.66%, less than FRXD.L's 3.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FRXD.L Franklin European Quality Dividend UCITS ETF	3.98%	4.28%	4.30%	5.00%	5.20%	4.63%	3.53%	4.42%	5.53%	0.00%	0.00%
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS	3.66%	4.71%	5.78%	5.56%	5.60%	4.21%	3.04%	4.50%	4.38%	3.44%	3.59%

Frequently Asked Questions

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

HDEU.L and FRXD.L have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, FRXD.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, HDEU.L or FRXD.L?

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

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

HDEU.L tracks MSCI EMU NR EUR, while FRXD.L tracks Franklin European Quality Dividend UCITS ETF. They also come from different issuers: Invesco and Franklin. Their fees differ too: 0.30% for HDEU.L and 0.25% for FRXD.L.