HDEU.L vs. MMS.L

Last updated Jun 5, 2026

HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) and MMS.L (Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist) are both Europe Equities funds - HDEU.L tracks the MSCI EMU NR EUR while MMS.L tracks the MSCI EMU Small Cap NR EUR. Both are passively managed. At a 0.05 correlation, their price movements are largely independent. HDEU.L charges 0.30%/yr vs 0.40%/yr for MMS.L.

Performance

HDEU.L vs. MMS.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 Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist (MMS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

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%

MMS.L

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS	10.26%	35.87%	9.21%
MMS.L Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist	0.01%	-5.22%	3.31%

Correlation

The correlation between HDEU.L and MMS.L is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (All Time) Calculated using the full available price history since Feb 23, 2024	0.05

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

Sectors	HDEU.L	MMS.L
Financial Services	35.6%	16.9%
Utilities	12.1%	3.4%
Real Estate	11.5%	12.8%
Consumer Cyclical	10.2%	10.9%
Basic Materials	9.9%	5.9%
Energy	6.9%	5.6%
Communication Services	6.3%	3.0%
Industrials	3.7%	21.8%
Consumer Defensive	3.7%	1.7%
Healthcare	0.0%	7.7%
Technology	-	10.3%

Return for Risk

HDEU.L vs. MMS.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: 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.

HDEU.L vs. MMS.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 Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist (MMS.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.L	MMS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.07	—	—
Sortino ratio: Return per unit of downside risk	2.74	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.57	—	—
Martin ratio: Return relative to average drawdown	11.36	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HDEU.L	MMS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	—	—

Drawdowns

Drawdown Indicators

	HDEU.L	MMS.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.22%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-12.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.45%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	—	—
Current Drawdown Current decline from peak	-1.97%	—	—
Average Drawdown Average peak-to-trough decline	-5.72%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	—	—

Volatility

Volatility by Period

	HDEU.L	MMS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.14%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	—	—

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

HDEU.L has a 0.30% expense ratio, which is lower than MMS.L's 0.40% expense ratio.

Dividends

HDEU.L vs. MMS.L - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
MMS.L Lyxor MSCI EMU Small Cap (DR) UCITS ETF - Dist	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

HDEU.L and MMS.L have a correlation of 0.07, 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 MMS.L?

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.

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

HDEU.L is cheaper with a 0.30% expense ratio, compared with 0.40% for MMS.L.

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

HDEU.L tracks MSCI EMU NR EUR, while MMS.L tracks MSCI EMU Small Cap NR EUR. They also come from different issuers: Invesco and Amundi. Their fees differ too: 0.30% for HDEU.L and 0.40% for MMS.L.