HDLG.L vs. SPEP.L

Last updated Jun 27, 2026

HDLG.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) and SPEP.L (Invesco S&P 500 Scored & Screened ETF Acc) are both S&P 500 funds from Invesco - HDLG.L tracks the S&P 500 Low Volatility High Dividend Index while SPEP.L tracks the S&P 500 ESG Index. Both are passively managed. Over the past 5 years, HDLG.L returned 7.85%/yr vs 15.12%/yr for SPEP.L. At a 0.49 correlation, their price movements are largely independent. HDLG.L charges 0.30%/yr vs 0.09%/yr for SPEP.L.

Performance

HDLG.L vs. SPEP.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 Invesco S&P 500 Scored & Screened ETF Acc (SPEP.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDLG.L achieves a 11.55% return, which is significantly higher than SPEP.L's 10.70% return.

HDLG.L

• 1D: 1.19%
• 1M: 4.52%
• YTD: 11.55%
• 6M: 12.92%
• 1Y: 18.62%
• 3Y*: 10.68%
• 5Y*: 7.85%
• 10Y*: 7.31%

SPEP.L

• 1D: 0.04%
• 1M: 1.60%
• YTD: 10.70%
• 6M: 11.09%
• 1Y: 30.83%
• 3Y*: 19.49%
• 5Y*: 15.12%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HDLG.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF	11.55%	-3.57%	18.46%	-4.52%	12.44%	26.47%	4.20%
SPEP.L Invesco S&P 500 Scored & Screened ETF Acc	10.70%	9.94%	26.61%	21.47%	-8.35%	34.02%	21.63%

Correlation

The correlation between HDLG.L and SPEP.L is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since Mar 10, 2020	0.49

Over the past year, the correlation between HDLG.L and SPEP.L has dropped to 0.09 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.

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

Sectors	HDLG.L	SPEP.L
Real Estate	21.2%	2.2%
Consumer Defensive	18.3%	5.1%
Financial Services	16.8%	12.3%
Utilities	14.0%	1.4%
Energy	11.7%	2.7%
Communication Services	7.9%	12.6%
Healthcare	4.9%	10.6%
Consumer Cyclical	3.7%	5.0%
Technology	1.5%	38.0%
Industrials	0.0%	8.2%
Basic Materials	0.0%	2.0%

Return for Risk

HDLG.L vs. SPEP.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: 57
HDLG.L Sharpe Ratio Rank: 59
HDLG.L Sortino Ratio Rank: 63
HDLG.L Omega Ratio Rank: 53
HDLG.L Calmar Ratio Rank: 63
HDLG.L Martin Ratio Rank: 46

SPEP.L

SPEP.L Risk / Return Rank: 91
SPEP.L Sharpe Ratio Rank: 93
SPEP.L Sortino Ratio Rank: 92
SPEP.L Omega Ratio Rank: 92
SPEP.L Calmar Ratio Rank: 88
SPEP.L Martin Ratio Rank: 89

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. SPEP.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 Invesco S&P 500 Scored & Screened ETF Acc (SPEP.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.L	SPEP.L	Difference
Sharpe ratio: Return per unit of total volatility	1.73	2.82	-1.09
Sortino ratio: Return per unit of downside risk	2.55	3.88	-1.32
Omega ratio: Gain probability vs. loss probability	1.29	1.52	-0.23
Calmar ratio: Return relative to maximum drawdown	2.68	4.43	-1.75
Martin ratio: Return relative to average drawdown	6.82	17.07	-10.24

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

The current HDLG.L Sharpe Ratio is 1.73, which is lower than the SPEP.L Sharpe Ratio of 2.82. The chart below compares the historical Sharpe Ratios of HDLG.L and SPEP.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

HDLG.L vs. SPEP.L - Drawdown Comparison

The maximum HDLG.L drawdown since its inception was -38.91%, which is greater than SPEP.L's maximum drawdown of -21.07%. Use the drawdown chart below to compare losses from any high point for HDLG.L and SPEP.L.

Drawdown Indicators

	HDLG.L	SPEP.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.91%	-21.07%	-17.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.92%	-6.93%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-21.07%	+5.46%
Max Drawdown (5Y) Largest decline over 5 years	-17.84%	-21.07%	+3.23%
Max Drawdown (10Y) Largest decline over 10 years	-33.75%	—	—
Current Drawdown Current decline from peak	0.00%	-0.92%	+0.92%
Average Drawdown Average peak-to-trough decline	-9.18%	-4.48%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	1.80%	+0.92%

Volatility

HDLG.L vs. SPEP.L - Volatility Comparison

Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) and Invesco S&P 500 Scored & Screened ETF Acc (SPEP.L) have volatilities of 3.53% and 3.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDLG.L	SPEP.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.54%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	8.49%	7.60%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	10.90%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.00%	20.10%	-7.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.54%	20.79%	-5.25%

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

HDLG.L has a 0.30% expense ratio, which is higher than SPEP.L's 0.09% expense ratio.

Dividends

HDLG.L vs. SPEP.L - Dividend Comparison

HDLG.L's dividend yield for the trailing twelve months is around 3.49%, while SPEP.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDLG.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF	3.49%	3.94%	3.46%	4.11%	3.49%	3.30%	4.65%	3.77%	3.67%	3.17%	2.88%	1.86%
SPEP.L Invesco S&P 500 Scored & Screened ETF 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

Can I hold both HDLG.L and SPEP.L in my portfolio?

HDLG.L and SPEP.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDLG.L or SPEP.L?

On fees, SPEP.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDLG.L or SPEP.L?

SPEP.L is cheaper with a 0.09% expense ratio, compared with 0.30% for HDLG.L.

What is the main difference between HDLG.L and SPEP.L?

HDLG.L tracks S&P 500 Low Volatility High Dividend Index, while SPEP.L tracks S&P 500 ESG Index. Their fees differ too: 0.30% for HDLG.L and 0.09% for SPEP.L.