HDLV.DE vs. SMLD.DE
HDLV.DE (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - HDLV.DE is a Dividend fund tracking the S&P 500 Low Volatility High Dividend Net Total Return Index, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 10 years, HDLV.DE returned 6.48%/yr vs 6.59%/yr for SMLD.DE. A 0.54 correlation means they provide meaningful diversification when combined. HDLV.DE charges 0.30%/yr vs 0.50%/yr for SMLD.DE.
Performance
HDLV.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, HDLV.DE achieves a 12.89% return, which is significantly lower than SMLD.DE's 19.81% return. Both investments have delivered pretty close results over the past 10 years, with HDLV.DE having a 6.48% annualized return and SMLD.DE not far ahead at 6.59%.
HDLV.DE
- 1D
- 0.44%
- 1M
- 6.78%
- 6M
- 13.04%
- YTD
- 12.89%
- 1Y
- 14.06%
- 3Y*
- 9.63%
- 5Y*
- 7.63%
- 10Y*
- 6.48%
SMLD.DE
- 1D
- 0.81%
- 1M
- -1.44%
- 6M
- 18.91%
- YTD
- 19.81%
- 1Y
- 15.83%
- 3Y*
- 15.35%
- 5Y*
- 17.25%
- 10Y*
- 6.59%
HDLV.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDLV.DE Invesco S&P 500 High Dividend Low Volatility UCITS ETF | 12.89% | -8.06% | 23.32% | -2.45% | 6.28% | 35.97% | -19.13% | 21.77% | -2.56% | -2.34% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 19.81% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | -37.59% | 12.61% | -11.81% | -19.80% |
Correlation
The correlation between HDLV.DE and SMLD.DE is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.45 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 11, 2015 | 0.54 |
The correlation between HDLV.DE and SMLD.DE shifts across timeframes, from 0.45 (3 years) to 0.55 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
HDLV.DE vs. SMLD.DE — Risk / Return Rank
HDLV.DE
SMLD.DE
HDLV.DE vs. SMLD.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 (HDLV.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
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.
| HDLV.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.17 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 1.63 | +0.51 |
| Martin ratioReturn relative to average drawdown | 5.44 | 3.59 | +1.85 |
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Drawdowns
HDLV.DE vs. SMLD.DE - Drawdown Comparison
The maximum HDLV.DE drawdown since its inception was -39.21%, smaller than the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for HDLV.DE and SMLD.DE.
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Drawdown Indicators
| HDLV.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.21% | -83.65% | +44.44% |
Max Drawdown (1Y)Largest decline over 1 year | -6.56% | -9.68% | +3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -19.09% | -22.99% | +3.90% |
Max Drawdown (5Y)Largest decline over 5 years | -19.99% | -22.99% | +3.00% |
Max Drawdown (10Y)Largest decline over 10 years | -39.21% | -76.32% | +37.11% |
Current DrawdownCurrent decline from peak | -2.47% | -4.21% | +1.74% |
Average DrawdownAverage peak-to-trough decline | -8.71% | -34.00% | +25.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 4.40% | -1.82% |
Volatility
HDLV.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLV.DE) is 3.52%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 4.56%. This indicates that HDLV.DE experiences smaller price fluctuations and is considered to be less risky than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HDLV.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.52% | 4.56% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 8.46% | 13.00% | -4.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.99% | 16.45% | -5.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.60% | 20.31% | -6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.10% | 29.07% | -11.97% |
HDLV.DE vs. SMLD.DE - Expense Ratio Comparison
HDLV.DE has a 0.30% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
HDLV.DE vs. SMLD.DE - Dividend Comparison
HDLV.DE's dividend yield for the trailing twelve months is around 3.47%, less than SMLD.DE's 7.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDLV.DE Invesco S&P 500 High Dividend Low Volatility UCITS ETF | 3.47% | 4.01% | 3.43% | 4.14% | 3.60% | 3.24% | 4.64% | 3.68% | 3.70% | 3.22% | 2.93% | 1.86% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.76% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
Frequently Asked Questions
HDLV.DE and SMLD.DE have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HDLV.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDLV.DE is cheaper with a 0.30% expense ratio, compared with 0.50% for SMLD.DE.
HDLV.DE is categorized as Dividend, while SMLD.DE is Energy Equities. HDLV.DE tracks S&P 500 Low Volatility High Dividend Net Total Return Index, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.30% for HDLV.DE and 0.50% for SMLD.DE.
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