HDLG.L vs. LGGE.DE

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) and L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE).

HDLG.L and LGGE.DE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HDLG.L is a passively managed fund by Invesco that tracks the performance of the S&P 500 Low Volatility High Dividend Index. It was launched on May 11, 2015. LGGE.DE is a passively managed fund by Legal & General that tracks the performance of the FTSE Developed Europe ex UK All Cap ex CW ex TC ex REITS Dividend Growth with Quality. It was launched on Apr 12, 2021. Both HDLG.L and LGGE.DE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HDLG.L vs. LGGE.DE - 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 L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE). The values are adjusted to include any dividend payments, if applicable.

HDLG.L vs. LGGE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HDLG.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF	4.42%	-3.57%	18.46%	-4.52%	12.44%	7.43%
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	6.33%	45.48%	9.10%	14.84%	1.40%	5.28%

Different Trading Currencies

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

Returns By Period

In the year-to-date period, HDLG.L achieves a 4.42% return, which is significantly lower than LGGE.DE's 6.33% return.

HDLG.L

• 1D: -1.04%
• 1M: -4.96%
• YTD: 4.42%
• 6M: 2.65%
• 1Y: -0.70%
• 3Y*: 6.68%
• 5Y*: 7.25%
• 10Y*: 7.28%

LGGE.DE

• 1D: 1.91%
• 1M: -0.80%
• YTD: 6.33%
• 6M: 14.17%
• 1Y: 32.85%
• 3Y*: 23.03%
• 5Y*: —
• 10Y*: —

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

HDLG.L vs. LGGE.DE - Expense Ratio Comparison

HDLG.L has a 0.30% expense ratio, which is higher than LGGE.DE's 0.25% expense ratio.

HDLG.L

Invesco S&P 500 High Dividend Low Volatility UCITS ETF

LGGE.DE

L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF

Return for Risk

HDLG.L vs. LGGE.DE — 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: 10
HDLG.L Sharpe Ratio Rank: 10
HDLG.L Sortino Ratio Rank: 10
HDLG.L Omega Ratio Rank: 10
HDLG.L Calmar Ratio Rank: 11
HDLG.L Martin Ratio Rank: 11

LGGE.DE

LGGE.DE Risk / Return Rank: 85
LGGE.DE Sharpe Ratio Rank: 84
LGGE.DE Sortino Ratio Rank: 82
LGGE.DE Omega Ratio Rank: 85
LGGE.DE Calmar Ratio Rank: 85
LGGE.DE Martin Ratio Rank: 88

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. LGGE.DE - 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 L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE). 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.

	HDLG.L	LGGE.DE	Difference
Sharpe ratio Return per unit of total volatility	-0.05	2.17	-2.23
Sortino ratio Return per unit of downside risk	0.02	2.76	-2.74
Omega ratio Gain probability vs. loss probability	1.00	1.43	-0.43
Calmar ratio Return relative to maximum drawdown	-0.03	3.64	-3.68
Martin ratio Return relative to average drawdown	-0.09	13.91	-14.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDLG.L vs. LGGE.DE - Sharpe Ratio Comparison

The current HDLG.L Sharpe Ratio is -0.05, which is lower than the LGGE.DE Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of HDLG.L and LGGE.DE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HDLG.L	LGGE.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.05	2.17	-2.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	1.11	-0.52

Correlation

The correlation between HDLG.L and LGGE.DE is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HDLG.L vs. LGGE.DE - Dividend Comparison

HDLG.L's dividend yield for the trailing twelve months is around 3.73%, more than LGGE.DE's 3.29% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDLG.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF	3.73%	3.93%	3.46%	4.12%	3.49%	3.30%	4.65%	3.77%	3.67%	3.18%	2.88%	1.86%
LGGE.DE L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF	3.29%	3.47%	4.37%	4.43%	4.18%	1.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HDLG.L vs. LGGE.DE - Drawdown Comparison

The maximum HDLG.L drawdown since its inception was -33.75%, which is greater than LGGE.DE's maximum drawdown of -17.75%. Use the drawdown chart below to compare losses from any high point for HDLG.L and LGGE.DE.

Drawdown Indicators

	HDLG.L	LGGE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-33.75%	-20.11%	-13.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-12.58%	+1.21%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.75%	—	—
Current Drawdown Current decline from peak	-5.07%	-2.44%	-2.63%
Average Drawdown Average peak-to-trough decline	-6.31%	-3.31%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	2.37%	+1.16%

Volatility

HDLG.L vs. LGGE.DE - Volatility Comparison

The current volatility for Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) is 4.04%, while L&G Quality Equity Dividends ESG Exclusions Europe ex-UK UCITS ETF (LGGE.DE) has a volatility of 5.55%. This indicates that HDLG.L experiences smaller price fluctuations and is considered to be less risky than LGGE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDLG.L	LGGE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.04%	5.55%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	7.56%	9.50%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	15.05%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.96%	14.90%	-1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	14.90%	+0.76%