HDLV.DE vs. VGWE.DE

Last updated Jul 4, 2026

HDLV.DE (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) and VGWE.DE (Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc) are both Dividend funds - HDLV.DE tracks the S&P 500 Low Volatility High Dividend Net Total Return Index while VGWE.DE tracks the FTSE All-World High Dividend Yield Index. Both are passively managed. Over the past 5 years, HDLV.DE returned 7.63%/yr vs 12.13%/yr for VGWE.DE. A 0.70 correlation means they provide meaningful diversification when combined. HDLV.DE charges 0.30%/yr vs 0.29%/yr for VGWE.DE.

Performance

HDLV.DE vs. VGWE.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 (HDLV.DE) and Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc (VGWE.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDLV.DE achieves a 12.89% return, which is significantly lower than VGWE.DE's 16.19% return.

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%

VGWE.DE

• 1D: 0.59%
• 1M: 3.58%
• 6M: 15.25%
• YTD: 16.19%
• 1Y: 27.98%
• 3Y*: 16.67%
• 5Y*: 12.13%
• 10Y*: —

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

HDLV.DE vs. VGWE.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HDLV.DE Invesco S&P 500 High Dividend Low Volatility UCITS ETF	12.89%	-8.06%	23.32%	-2.45%	6.28%	35.97%	2.09%
VGWE.DE Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc	16.19%	12.81%	15.59%	7.89%	0.02%	27.81%	7.83%

Correlation

The correlation between HDLV.DE and VGWE.DE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020	0.70

The correlation between HDLV.DE and VGWE.DE shifts across timeframes, from 0.51 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HDLV.DE vs. VGWE.DE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HDLV.DE

HDLV.DE Risk / Return Rank: 43
HDLV.DE Sharpe Ratio Rank: 42
HDLV.DE Sortino Ratio Rank: 45
HDLV.DE Omega Ratio Rank: 37
HDLV.DE Calmar Ratio Rank: 52
HDLV.DE Martin Ratio Rank: 40

VGWE.DE

VGWE.DE Risk / Return Rank: 93
VGWE.DE Sharpe Ratio Rank: 94
VGWE.DE Sortino Ratio Rank: 94
VGWE.DE Omega Ratio Rank: 93
VGWE.DE Calmar Ratio Rank: 91
VGWE.DE Martin Ratio Rank: 92

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.

HDLV.DE vs. VGWE.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 Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc (VGWE.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	VGWE.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.95	-1.68
Sortino ratio: Return per unit of downside risk	1.92	4.14	-2.21
Omega ratio: Gain probability vs. loss probability	1.21	1.54	-0.32
Calmar ratio: Return relative to maximum drawdown	2.13	4.64	-2.51
Martin ratio: Return relative to average drawdown	5.44	18.29	-12.85

HDLV.DE vs. VGWE.DE - Sharpe Ratio Comparison

The current HDLV.DE Sharpe Ratio is 1.28, which is lower than the VGWE.DE Sharpe Ratio of 2.95. The chart below compares the historical Sharpe Ratios of HDLV.DE and VGWE.DE, 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

HDLV.DE vs. VGWE.DE - Drawdown Comparison

The maximum HDLV.DE drawdown since its inception was -39.21%, which is greater than VGWE.DE's maximum drawdown of -16.43%. Use the drawdown chart below to compare losses from any high point for HDLV.DE and VGWE.DE.

Drawdown Indicators

	HDLV.DE	VGWE.DE	Difference
Max Drawdown Largest peak-to-trough decline	-39.21%	-16.43%	-22.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.56%	-6.00%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-19.09%	-16.43%	-2.66%
Max Drawdown (5Y) Largest decline over 5 years	-19.99%	-16.43%	-3.56%
Max Drawdown (10Y) Largest decline over 10 years	-39.21%	—	—
Current Drawdown Current decline from peak	-2.47%	0.00%	-2.47%
Average Drawdown Average peak-to-trough decline	-8.71%	-2.35%	-6.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	1.53%	+1.05%

Volatility

HDLV.DE vs. VGWE.DE - Volatility Comparison

Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLV.DE) has a higher volatility of 3.52% compared to Vanguard FTSE All-World High Dividend Yield UCITS ETF USD Acc (VGWE.DE) at 2.19%. This indicates that HDLV.DE's price experiences larger fluctuations and is considered to be riskier than VGWE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDLV.DE	VGWE.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	2.19%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	8.46%	7.24%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	10.99%	9.48%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.60%	11.52%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	12.20%	+4.90%

HDLV.DE vs. VGWE.DE - Expense Ratio Comparison

HDLV.DE has a 0.30% expense ratio, which is higher than VGWE.DE's 0.29% expense ratio.

Dividends

HDLV.DE vs. VGWE.DE - Dividend Comparison

HDLV.DE's dividend yield for the trailing twelve months is around 3.47%, while VGWE.DE has not paid dividends to shareholders.

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%
VGWE.DE Vanguard FTSE All-World High Dividend Yield 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

Can I hold both HDLV.DE and VGWE.DE in my portfolio?

HDLV.DE and VGWE.DE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HDLV.DE or VGWE.DE?

On fees, VGWE.DE is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDLV.DE or VGWE.DE?

VGWE.DE is cheaper with a 0.29% expense ratio, compared with 0.30% for HDLV.DE.

What is the main difference between HDLV.DE and VGWE.DE?

HDLV.DE tracks S&P 500 Low Volatility High Dividend Net Total Return Index, while VGWE.DE tracks FTSE All-World High Dividend Yield Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.30% for HDLV.DE and 0.29% for VGWE.DE.