HDLV.L vs. FEUI.L

Last updated Jun 16, 2026

HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) and FEUI.L (Fidelity Europe Quality Income UCITS ETF) are both exchange-traded funds - HDLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index, while FEUI.L is a Europe Equities fund tracking the MSCI Europe High Div Yld NR EUR. Both are passively managed. Over the past 5 years, HDLV.L returned 5.80%/yr vs 6.81%/yr for FEUI.L. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

HDLV.L vs. FEUI.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 Dist (HDLV.L) and Fidelity Europe Quality Income UCITS ETF (FEUI.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HDLV.L is traded in USD, while FEUI.L is traded in GBP. To make them comparable, the FEUI.L values have been converted to USD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with HDLV.L having a 8.12% return and FEUI.L slightly lower at 7.76%.

HDLV.L

• 1D: -0.62%
• 1M: 4.80%
• YTD: 8.12%
• 6M: 8.21%
• 1Y: 11.72%
• 3Y*: 11.03%
• 5Y*: 5.80%
• 10Y*: 6.87%

FEUI.L

• 1D: 0.15%
• 1M: 3.69%
• YTD: 7.76%
• 6M: 8.99%
• 1Y: 18.03%
• 3Y*: 15.22%
• 5Y*: 6.81%
• 10Y*: —

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

HDLV.L vs. FEUI.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	8.12%	3.58%	16.39%	1.20%	0.44%	24.81%	-10.91%	6.98%
FEUI.L Fidelity Europe Quality Income UCITS ETF	7.76%	33.17%	-0.45%	21.58%	-20.54%	16.11%	5.96%	-0.55%

Correlation

The correlation between HDLV.L and FEUI.L is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Sep 9, 2019	0.51

Over the past year, the correlation between HDLV.L and FEUI.L has dropped to 0.31 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

HDLV.L vs. FEUI.L - Sectors Allocation Comparison

Sectors	HDLV.L	FEUI.L
Real Estate	20.1%	1.0%
Consumer Defensive	17.8%	6.6%
Financial Services	15.6%	24.0%
Energy	14.1%	5.6%
Utilities	13.7%	4.8%
Communication Services	8.6%	3.4%
Healthcare	5.1%	12.7%
Consumer Cyclical	3.4%	7.9%
Technology	1.4%	9.4%
Industrials	0.0%	19.9%
Basic Materials	-	4.8%

Return for Risk

HDLV.L vs. FEUI.L — Risk / Return Rank

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

HDLV.L

HDLV.L Risk / Return Rank: 31
HDLV.L Sharpe Ratio Rank: 31
HDLV.L Sortino Ratio Rank: 32
HDLV.L Omega Ratio Rank: 28
HDLV.L Calmar Ratio Rank: 34
HDLV.L Martin Ratio Rank: 28

FEUI.L

FEUI.L Risk / Return Rank: 46
FEUI.L Sharpe Ratio Rank: 49
FEUI.L Sortino Ratio Rank: 47
FEUI.L Omega Ratio Rank: 47
FEUI.L Calmar Ratio Rank: 43
FEUI.L Martin Ratio Rank: 43

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.L vs. FEUI.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 Dist (HDLV.L) and Fidelity Europe Quality Income UCITS ETF (FEUI.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.

	HDLV.L	FEUI.L	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.24	-0.16
Sortino ratio: Return per unit of downside risk	1.64	1.78	-0.15
Omega ratio: Gain probability vs. loss probability	1.19	1.22	-0.04
Calmar ratio: Return relative to maximum drawdown	1.63	1.69	-0.06
Martin ratio: Return relative to average drawdown	3.75	5.40	-1.66

HDLV.L vs. FEUI.L - Sharpe Ratio Comparison

The current HDLV.L Sharpe Ratio is 1.09, which is comparable to the FEUI.L Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of HDLV.L and FEUI.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

HDLV.L vs. FEUI.L - Drawdown Comparison

The maximum HDLV.L drawdown since its inception was -41.00%, which is greater than FEUI.L's maximum drawdown of -37.84%. Use the drawdown chart below to compare losses from any high point for HDLV.L and FEUI.L.

Drawdown Indicators

	HDLV.L	FEUI.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.00%	-37.84%	-3.16%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-10.65%	+3.49%
Max Drawdown (3Y) Largest decline over 3 years	-14.56%	-14.09%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-20.04%	-37.84%	+17.80%
Max Drawdown (10Y) Largest decline over 10 years	-41.00%	—	—
Current Drawdown Current decline from peak	-1.77%	-1.41%	-0.36%
Average Drawdown Average peak-to-trough decline	-5.68%	-8.64%	+2.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.32%	-0.20%

Volatility

HDLV.L vs. FEUI.L - Volatility Comparison

Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) and Fidelity Europe Quality Income UCITS ETF (FEUI.L) have volatilities of 3.62% and 3.52%, 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

	HDLV.L	FEUI.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	3.52%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	11.67%	-3.80%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	14.49%	-3.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.04%	17.65%	-3.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.17%	19.31%	-3.14%

HDLV.L vs. FEUI.L - Expense Ratio Comparison

Both HDLV.L and FEUI.L have an expense ratio of 0.30%.

Dividends

HDLV.L vs. FEUI.L - Dividend Comparison

HDLV.L's dividend yield for the trailing twelve months is around 3.58%, more than FEUI.L's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEUI.L Fidelity Europe Quality Income UCITS ETF	3.48%	3.02%	3.63%	3.66%	3.71%	2.93%	2.53%	0.27%	0.00%	0.00%	0.00%	0.00%
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	3.58%	3.91%	3.54%	4.04%	3.56%	3.37%	4.35%	3.69%	3.79%	3.07%	3.07%	1.89%

Frequently Asked Questions

Can I hold both HDLV.L and FEUI.L in my portfolio?

HDLV.L and FEUI.L have a correlation of 0.31, 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.L or FEUI.L?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDLV.L or FEUI.L?

HDLV.L and FEUI.L have the same expense ratio: 0.30% per year.

What is the main difference between HDLV.L and FEUI.L?

HDLV.L is categorized as S&P 500, while FEUI.L is Europe Equities. HDLV.L tracks S&P 500 Low Volatility High Dividend Index, while FEUI.L tracks MSCI Europe High Div Yld NR EUR. They also come from different issuers: Invesco and Fidelity.