HDLG.L vs. XYLU.L
HDLG.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) and XYLU.L (Global X S&P 500 Covered Call UCITS ETF USD) are both exchange-traded funds - HDLG.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index, while XYLU.L is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite 15% WHT Index. Both are passively managed. Over the past 3 years, HDLG.L returned 10.69%/yr vs 10.07%/yr for XYLU.L. Their 0.27 correlation means their historical movements had little consistent relationship. HDLG.L charges 0.30%/yr vs 0.45%/yr for XYLU.L.
Performance
HDLG.L vs. XYLU.L - Performance Comparison
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Different Trading Currencies
HDLG.L is traded in GBp, while XYLU.L is traded in USD. To make them comparable, the XYLU.L 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 15.70% return, which is significantly higher than XYLU.L's 9.98% 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%
XYLU.L
- 1D
- 0.00%
- 1M
- 2.25%
- 6M
- 11.46%
- YTD
- 9.98%
- 1Y
- 18.52%
- 3Y*
- 10.07%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| £667.57K | £702.70K | £1.08M | |
| £146.38K | £175.58K | £195.71K |
HDLG.L vs. XYLU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HDLG.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF | 15.70% | -3.57% | 18.46% | 6.27% |
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD | 9.98% | 0.17% | 20.18% | 2.91% |
Correlation
The correlation between HDLG.L and XYLU.L is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.08 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023 | 0.27 |
The correlation between HDLG.L and XYLU.L shifts across timeframes, from 0.08 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HDLG.L vs. XYLU.L — Risk / Return Rank
HDLG.L
XYLU.L
HDLG.L vs. XYLU.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 Global X S&P 500 Covered Call UCITS ETF USD (XYLU.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 | XYLU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.61 | ||
| Sortino ratioReturn per unit of downside risk | -0.74 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.39 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 5.00 | -2.66 |
| Martin ratioReturn relative to average drawdown | 5.91 | 15.93 | -10.01 |
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Drawdowns
HDLG.L vs. XYLU.L - Drawdown Comparison
The maximum HDLG.L drawdown since its inception was -38.91%, which is greater than XYLU.L's maximum drawdown of -19.99%. Use the drawdown chart below to compare losses from any high point for HDLG.L and XYLU.L.
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Drawdown Indicators
| HDLG.L | XYLU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.91% | -19.99% | -18.92% |
Max Drawdown (1Y)Largest decline over 1 year | -6.92% | -3.71% | -3.21% |
Max Drawdown (3Y)Largest decline over 3 years | -15.61% | -19.99% | +4.38% |
Max Drawdown (5Y)Largest decline over 5 years | -17.84% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.75% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.13% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -9.11% | -4.28% | -4.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.74% | 1.16% | +1.58% |
Volatility
HDLG.L vs. XYLU.L - Volatility Comparison
Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) has a higher volatility of 3.91% compared to Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) at 2.51%. This indicates that HDLG.L's price experiences larger fluctuations and is considered to be riskier than XYLU.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.L | XYLU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 2.51% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.83% | 7.23% | +1.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.06% | 8.97% | +2.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.02% | 11.29% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.54% | 11.29% | +4.25% |
HDLG.L vs. XYLU.L - Expense Ratio Comparison
HDLG.L has a 0.30% expense ratio, which is lower than XYLU.L's 0.45% expense ratio.
Dividends
HDLG.L vs. XYLU.L - Dividend Comparison
HDLG.L's dividend yield for the trailing twelve months is around 3.36%, less than XYLU.L's 11.75% yield.
| 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 | 3.36% | 3.94% | 3.46% | 4.11% | 3.49% | 3.30% | 4.65% | 3.77% | 3.67% | 3.17% | 2.88% | 1.86% |
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD | 11.75% | 10.48% | 7.24% | 3.88% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HDLG.L and XYLU.L have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HDLG.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDLG.L is cheaper with a 0.30% expense ratio, compared with 0.45% for XYLU.L.
HDLG.L is categorized as S&P 500, while XYLU.L is Derivative Income. HDLG.L tracks S&P 500 Low Volatility High Dividend Index, while XYLU.L tracks Cboe S&P 500 BuyWrite 15% WHT Index. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.30% for HDLG.L and 0.45% for XYLU.L.
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