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HDEU.L vs. FSEU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDEU.L vs. FSEU.L

Last updated Jun 5, 2026

HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) and FSEU.L (iShares Edge MSCI Europe Multifactor UCITS) are both Europe Equities funds - HDEU.L tracks the MSCI EMU NR EUR while FSEU.L tracks the MSCI Europe NR EUR. Both are passively managed. Over the past 10 years, HDEU.L returned 8.16%/yr vs 9.77%/yr for FSEU.L. A 0.76 correlation means they provide meaningful diversification when combined. HDEU.L charges 0.30%/yr vs 0.45%/yr for FSEU.L.

Performance

HDEU.L vs. FSEU.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 iShares Edge MSCI Europe Multifactor UCITS (FSEU.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with HDEU.L having a 10.26% return and FSEU.L slightly higher at 10.28%. Over the past 10 years, HDEU.L has underperformed FSEU.L with an annualized return of 8.16%, while FSEU.L has yielded a comparatively higher 9.77% annualized return.

HDEU.L

1D
-0.29%
1M
-0.74%
YTD
10.26%
6M
12.26%
1Y
20.78%
3Y*
20.15%
5Y*
12.72%
10Y*
8.16%

FSEU.L

1D
0.45%
1M
0.05%
YTD
10.28%
6M
13.35%
1Y
19.88%
3Y*
18.16%
5Y*
10.59%
10Y*
9.77%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
HDEU.L
PowerShares EURO STOXX High Dividend Low Volatility UCITS		10.26%35.87%10.18%13.58%-8.23%21.08%-17.97%17.34%-8.18%10.01%
FSEU.L
iShares Edge MSCI Europe Multifactor UCITS		10.28%20.48%14.51%19.16%-15.14%26.12%-0.67%25.82%-11.25%12.07%

Correlation

The correlation between HDEU.L and FSEU.L is 0.71, 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

0.71

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

0.74

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

0.76

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

0.76

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2016

0.76

The correlation between HDEU.L and FSEU.L has been stable across timeframes, ranging from 0.71 to 0.76 - a consistent structural relationship.

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

Sectors
HDEU.L
FSEU.L

Financial Services

35.6%
28.0%

Utilities

12.1%
5.4%

Real Estate

11.5%
1.3%

Consumer Cyclical

10.2%
6.2%

Basic Materials

9.9%
2.1%

Energy

6.9%
5.8%

Communication Services

6.3%
5.4%

Industrials

3.7%
17.7%

Consumer Defensive

3.7%
8.2%

Healthcare

0.0%
11.5%

Technology

-

8.4%

Financial Services

HDEU.L
35.6%
FSEU.L
28.0%

Utilities

HDEU.L
12.1%
FSEU.L
5.4%

Real Estate

HDEU.L
11.5%
FSEU.L
1.3%

Consumer Cyclical

HDEU.L
10.2%
FSEU.L
6.2%

Basic Materials

HDEU.L
9.9%
FSEU.L
2.1%

Energy

HDEU.L
6.9%
FSEU.L
5.8%

Communication Services

HDEU.L
6.3%
FSEU.L
5.4%

Industrials

HDEU.L
3.7%
FSEU.L
17.7%

Consumer Defensive

HDEU.L
3.7%
FSEU.L
8.2%

Healthcare

HDEU.L
0.0%
FSEU.L
11.5%

Technology

HDEU.L

-

FSEU.L
8.4%

Compare stocks, funds, or ETFs

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

PowerShares EURO STOXX High Dividend Low Volatility UCITS

iShares Edge MSCI Europe Multifactor UCITS

Often compared with HDEU.L:
HDEU.L vs. EUN0.DEHDEU.L vs. GLDHDEU.L vs. VDIV.DEHDEU.L vs. WINC.ASHDEU.L vs. ISPA.DEHDEU.L vs. H50E.LHDEU.L vs. TDIV.AS
Often compared with FSEU.L:
FSEU.L vs. BIAHXFSEU.L vs. SMEA.LFSEU.L vs. VHYL.ASFSEU.L vs. GOOGFSEU.L vs. XDEQ.LFSEU.L vs. CS1.LFSEU.L vs. CNDX.L

Return for Risk

HDEU.L vs. FSEU.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: 6464
Overall Rank
HDEU.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HDEU.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
HDEU.L Omega Ratio Rank: 6464
Omega Ratio Rank
HDEU.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
HDEU.L Martin Ratio Rank: 6464
Martin Ratio Rank
FSEU.L
FSEU.L Risk / Return Rank: 6060
Overall Rank
FSEU.L Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
FSEU.L Sortino Ratio Rank: 6060
Sortino Ratio Rank
FSEU.L Omega Ratio Rank: 6363
Omega Ratio Rank
FSEU.L Calmar Ratio Rank: 5555
Calmar Ratio Rank
FSEU.L Martin Ratio Rank: 5858
Martin Ratio Rank
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. FSEU.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 iShares Edge MSCI Europe Multifactor UCITS (FSEU.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.

HDEU.LFSEU.LDifference
Sharpe ratioReturn per unit of total volatility
2.07
1.67

+0.40

Sortino ratioReturn per unit of downside risk
2.74
2.41

+0.33

Omega ratioGain probability vs. loss probability

1.38

1.31

+0.07

Calmar ratioReturn relative to maximum drawdown

3.57

2.68

+0.89

Martin ratioReturn relative to average drawdown

11.36

9.55

+1.81

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

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

The current HDEU.L Sharpe Ratio is 2.07, which is comparable to the FSEU.L Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of HDEU.L and FSEU.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.

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Sharpe Ratios by Period

HDEU.LFSEU.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.07

1.67

+0.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.94

0.76

+0.19

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.63

-0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.58

-0.07

Drawdowns

HDEU.L vs. FSEU.L - Drawdown Comparison

The maximum HDEU.L drawdown since its inception was -40.22%, which is greater than FSEU.L's maximum drawdown of -36.73%. Use the drawdown chart below to compare losses from any high point for HDEU.L and FSEU.L.

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Drawdown Indicators

HDEU.LFSEU.LDifference

Max Drawdown

Largest peak-to-trough decline

-40.22%

-36.73%

-3.49%

Max Drawdown (1Y)

Largest decline over 1 year

-5.88%

-7.47%

+1.59%

Max Drawdown (3Y)

Largest decline over 3 years

-12.86%

-15.03%

+2.17%

Max Drawdown (5Y)

Largest decline over 5 years

-22.45%

-24.46%

+2.01%

Max Drawdown (10Y)

Largest decline over 10 years

-40.22%

-36.73%

-3.49%

Current Drawdown

Current decline from peak

-1.97%

-0.49%

-1.48%

Average Drawdown

Average peak-to-trough decline

-5.72%

-5.86%

+0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.85%

2.10%

-0.25%

Volatility

HDEU.L vs. FSEU.L - Volatility Comparison

The current volatility for PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) is 3.12%, while iShares Edge MSCI Europe Multifactor UCITS (FSEU.L) has a volatility of 3.46%. This indicates that HDEU.L experiences smaller price fluctuations and is considered to be less risky than FSEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDEU.LFSEU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.12%

3.46%

-0.34%

Volatility (6M)

Calculated over the trailing 6-month period

7.85%

9.49%

-1.64%

Volatility (1Y)

Calculated over the trailing 1-year period

10.14%

11.94%

-1.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.50%

13.99%

-0.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.95%

15.60%

+0.35%

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

HDEU.L has a 0.30% expense ratio, which is lower than FSEU.L's 0.45% expense ratio.

Dividends

HDEU.L vs. FSEU.L - Dividend Comparison

HDEU.L's dividend yield for the trailing twelve months is around 3.98%, while FSEU.L has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019201820172016
FSEU.L
iShares Edge MSCI Europe Multifactor UCITS		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%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

HDEU.L and FSEU.L have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

HDEU.L is cheaper with a 0.30% expense ratio, compared with 0.45% for FSEU.L.

HDEU.L tracks MSCI EMU NR EUR, while FSEU.L tracks MSCI Europe NR EUR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for HDEU.L and 0.45% for FSEU.L.

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