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HDLG.L vs. IESU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HDLG.L vs. IESU.L

Last updated Jul 29, 2026
Documentation

HDLG.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) and IESU.L (iShares S&P 500 Energy Sector UCITS ETF USD (Acc)) are both exchange-traded funds - HDLG.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index, while IESU.L is a Energy Equities fund tracking the S&P 500 Capped 35/20 Energy Index NTR. Both are passively managed. Over the past 10 years, HDLG.L returned 6.72%/yr vs 9.25%/yr for IESU.L. Their 0.55 correlation means they have sometimes moved together and sometimes differently. HDLG.L charges 0.30%/yr vs 0.15%/yr for IESU.L.

Performance

HDLG.L vs. IESU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, HDLG.L achieves a 15.70% return, which is significantly lower than IESU.L's 31.11% return. Over the past 10 years, HDLG.L has underperformed IESU.L with an annualized return of 6.72%, while IESU.L has yielded a comparatively higher 9.25% annualized return.

HDLG.L

1D
1.42%
1M
3.72%
6M
14.46%
YTD
15.70%
1Y
16.25%
3Y*
10.69%
5Y*
8.82%
10Y*
6.72%
ALL TIME*
5.52%

IESU.L

1D
-1.58%
1M
7.21%
6M
22.12%
YTD
31.11%
1Y
36.06%
3Y*
12.37%
5Y*
23.24%
10Y*
9.25%
ALL TIME*
6.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HDLG.L

Invesco S&P 500 High Dividend Low Volatility UCITS ETF
£667.57K£702.70K£1.08M

IESU.L

iShares S&P 500 Energy Sector UCITS ETF USD (Acc)
£2.22M£3.88M£2.87M

HDLG.L vs. IESU.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
HDLG.L
Invesco S&P 500 High Dividend Low Volatility UCITS ETF		15.70%-3.57%18.46%-4.52%12.44%26.47%-13.89%15.07%-1.67%1.42%
IESU.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		31.11%2.26%5.45%-5.96%83.53%53.82%-35.62%5.37%-13.39%-10.01%

Correlation

The correlation between HDLG.L and IESU.L is 0.34, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.34

Correlation (3Y)
Balances recent behavior with more history.

0.40

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.44

Correlation (10Y)
Provides a long-term view across more market conditions.

0.55

Correlation (All Time)
Calculated using the full available price history since Nov 20, 2015

0.55

Over the past year, the correlation between HDLG.L and IESU.L has dropped to 0.34 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

HDLG.L vs. IESU.L - Sectors Allocation Comparison

Sectors
HDLG.L
IESU.L

Real Estate

21.9%

-

Financial Services

17.7%

-

Consumer Defensive

14.9%

-

Utilities

14.3%

-

Energy

12.5%
100.0%

Communication Services

8.0%

-

Healthcare

5.0%

-

Consumer Cyclical

3.9%

-

Technology

1.7%

-

Industrials

0.0%

-

Basic Materials

0.0%

-

Real Estate

HDLG.L
21.9%
IESU.L

-

Financial Services

HDLG.L
17.7%
IESU.L

-

Consumer Defensive

HDLG.L
14.9%
IESU.L

-

Utilities

HDLG.L
14.3%
IESU.L

-

Energy

HDLG.L
12.5%
IESU.L
100.0%

Communication Services

HDLG.L
8.0%
IESU.L

-

Healthcare

HDLG.L
5.0%
IESU.L

-

Consumer Cyclical

HDLG.L
3.9%
IESU.L

-

Technology

HDLG.L
1.7%
IESU.L

-

Industrials

HDLG.L
0.0%
IESU.L

-

Basic Materials

HDLG.L
0.0%
IESU.L

-

Compare stocks, funds, or ETFs

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

Invesco S&P 500 High Dividend Low Volatility UCITS ETF

iShares S&P 500 Energy Sector UCITS ETF USD (Acc)

Often compared with HDLG.L:
HDLG.L vs. VHYL.ASHDLG.L vs. D5BM.DEHDLG.L vs. USDV.LHDLG.L vs. VUSA.LHDLG.L vs. XNAQ.LHDLG.L vs. SCHDHDLG.L vs. SPY
Often compared with IESU.L:
IESU.L vs. MIST.LIESU.L vs. ISPE.LIESU.L vs. R1VL.LIESU.L vs. IWVU.LIESU.L vs. SPXE.LIESU.L vs. G500.LIESU.L vs. FLXK.L

Return for Risk

HDLG.L vs. IESU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HDLG.L
HDLG.L Risk / Return Rank: 6060
Overall Rank
HDLG.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HDLG.L Sortino Ratio Rank: 6666
Sortino Ratio Rank
HDLG.L Omega Ratio Rank: 5656
Omega Ratio Rank
HDLG.L Calmar Ratio Rank: 6767
Calmar Ratio Rank
HDLG.L Martin Ratio Rank: 5151
Martin Ratio Rank
IESU.L
IESU.L Risk / Return Rank: 5656
Overall Rank
IESU.L Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
IESU.L Sortino Ratio Rank: 5454
Sortino Ratio Rank
IESU.L Omega Ratio Rank: 6060
Omega Ratio Rank
IESU.L Calmar Ratio Rank: 5959
Calmar Ratio Rank
IESU.L Martin Ratio Rank: 4444
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.

HDLG.L vs. IESU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) and iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.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.

HDLG.LIESU.LDifference
Sharpe ratioReturn per unit of total volatility
1.46
1.45

+0.01

Sortino ratioReturn per unit of downside risk
2.18
1.91

+0.28

Omega ratioGain probability vs. loss probability

1.25

1.26

-0.01

Calmar ratioReturn relative to maximum drawdown

2.34

2.07

+0.27

Martin ratioReturn relative to average drawdown

5.91

4.94

+0.97

HDLG.L vs. IESU.L - Sharpe Ratio Comparison

The current HDLG.L Sharpe Ratio is 1.46, which is comparable to the IESU.L Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of HDLG.L and IESU.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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Drawdowns

HDLG.L vs. IESU.L - Drawdown Comparison

The maximum HDLG.L drawdown since its inception was -38.91%, smaller than the maximum IESU.L drawdown of -63.88%. Use the drawdown chart below to compare losses from any high point for HDLG.L and IESU.L.

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Drawdown Indicators

HDLG.LIESU.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.91%

-63.88%

+24.97%

Max Drawdown (1Y)

Largest decline over 1 year

-6.92%

-17.34%

+10.42%

Max Drawdown (3Y)

Largest decline over 3 years

-15.61%

-26.36%

+10.75%

Max Drawdown (5Y)

Largest decline over 5 years

-17.84%

-26.36%

+8.52%

Max Drawdown (10Y)

Largest decline over 10 years

-33.75%

-62.16%

+28.41%

Current Drawdown

Current decline from peak

0.00%

-8.91%

+8.91%

Average Drawdown

Average peak-to-trough decline

-9.11%

-20.47%

+11.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.74%

7.28%

-4.54%

Volatility

HDLG.L vs. IESU.L - Volatility Comparison

The current volatility for Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) is 3.91%, while iShares S&P 500 Energy Sector UCITS ETF USD (Acc) (IESU.L) has a volatility of 7.84%. This indicates that HDLG.L experiences smaller price fluctuations and is considered to be less risky than IESU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

HDLG.LIESU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.91%

7.84%

-3.93%

Volatility (6M)

Calculated over the trailing 6-month period

8.83%

21.89%

-13.06%

Volatility (1Y)

Calculated over the trailing 1-year period

11.06%

24.77%

-13.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.02%

28.98%

-15.96%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.54%

29.19%

-13.65%

HDLG.L vs. IESU.L - Expense Ratio Comparison

HDLG.L has a 0.30% expense ratio, which is higher than IESU.L's 0.15% expense ratio.

Dividends

HDLG.L vs. IESU.L - Dividend Comparison

HDLG.L's dividend yield for the trailing twelve months is around 3.36%, while IESU.L has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
HDLG.L
Invesco S&P 500 High Dividend Low Volatility UCITS ETF		3.36%3.94%3.46%4.11%3.49%3.30%4.65%3.77%3.67%3.17%2.88%1.86%
IESU.L
iShares S&P 500 Energy Sector UCITS ETF USD (Acc)		0.00%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

HDLG.L and IESU.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IESU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IESU.L is cheaper with a 0.15% expense ratio, compared with 0.30% for HDLG.L.

HDLG.L is categorized as S&P 500, while IESU.L is Energy Equities. HDLG.L tracks S&P 500 Low Volatility High Dividend Index, while IESU.L tracks S&P 500 Capped 35/20 Energy Index NTR. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.30% for HDLG.L and 0.15% for IESU.L.

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