HDLV.L vs. S5EE.L

Last updated Jun 5, 2026

HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) and S5EE.L (UBS S&P 500 ESG Elite UCITS ETF USD acc) are both S&P 500 funds - HDLV.L tracks the S&P 500 Low Volatility High Dividend Index while S5EE.L tracks the S&P 500 Elite ESG Index USD. Both are passively managed. Over the past 5 years, HDLV.L returned 5.04%/yr vs 14.73%/yr for S5EE.L. A 0.51 correlation means they provide meaningful diversification when combined. HDLV.L charges 0.30%/yr vs 0.15%/yr for S5EE.L.

Performance

HDLV.L vs. S5EE.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 UBS S&P 500 ESG Elite UCITS ETF USD acc (S5EE.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HDLV.L is traded in USD, while S5EE.L is traded in GBp. To make them comparable, the S5EE.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, HDLV.L achieves a 4.40% return, which is significantly lower than S5EE.L's 19.95% return.

HDLV.L

• 1D: 0.05%
• 1M: -0.07%
• YTD: 4.40%
• 6M: 5.51%
• 1Y: 8.68%
• 3Y*: 10.98%
• 5Y*: 5.04%
• 10Y*: 6.48%

S5EE.L

• 1D: -0.05%
• 1M: 10.68%
• YTD: 19.95%
• 6M: 23.16%
• 1Y: 41.93%
• 3Y*: 24.45%
• 5Y*: 14.73%
• 10Y*: —

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

HDLV.L vs. S5EE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	4.40%	3.58%	16.39%	1.20%	0.46%	8.97%
S5EE.L UBS S&P 500 ESG Elite UCITS ETF USD acc	19.95%	20.10%	18.01%	28.57%	-19.18%	24.25%

Correlation

The correlation between HDLV.L and S5EE.L is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 15, 2021	0.51

Over the past year, the correlation between HDLV.L and S5EE.L has dropped to 0.16 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

HDLV.L vs. S5EE.L - Sectors Allocation Comparison

Sectors	HDLV.L	S5EE.L
Real Estate	20.1%	2.7%
Consumer Defensive	17.8%	3.1%
Financial Services	15.6%	16.0%
Energy	14.1%	-
Utilities	13.7%	-
Communication Services	8.6%	2.7%
Healthcare	5.1%	11.3%
Consumer Cyclical	3.4%	4.5%
Technology	1.4%	48.5%
Industrials	0.0%	9.0%
Basic Materials	-	2.3%

Return for Risk

HDLV.L vs. S5EE.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: 23
HDLV.L Sharpe Ratio Rank: 23
HDLV.L Sortino Ratio Rank: 24
HDLV.L Omega Ratio Rank: 22
HDLV.L Calmar Ratio Rank: 26
HDLV.L Martin Ratio Rank: 23

S5EE.L

S5EE.L Risk / Return Rank: 92
S5EE.L Sharpe Ratio Rank: 94
S5EE.L Sortino Ratio Rank: 94
S5EE.L Omega Ratio Rank: 94
S5EE.L Calmar Ratio Rank: 88
S5EE.L Martin Ratio Rank: 88

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. S5EE.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 UBS S&P 500 ESG Elite UCITS ETF USD acc (S5EE.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.

	HDLV.L	S5EE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.82	3.32	-2.50
Sortino ratio: Return per unit of downside risk	1.25	4.81	-3.56
Omega ratio: Gain probability vs. loss probability	1.14	1.58	-0.44
Calmar ratio: Return relative to maximum drawdown	1.21	3.89	-2.68
Martin ratio: Return relative to average drawdown	2.80	16.41	-13.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HDLV.L vs. S5EE.L - Sharpe Ratio Comparison

The current HDLV.L Sharpe Ratio is 0.82, which is lower than the S5EE.L Sharpe Ratio of 3.32. The chart below compares the historical Sharpe Ratios of HDLV.L and S5EE.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.

Sharpe Ratios by Period

	HDLV.L	S5EE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	3.32	-2.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.91	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	1.02	-0.55

Drawdowns

HDLV.L vs. S5EE.L - Drawdown Comparison

The maximum HDLV.L drawdown since its inception was -41.02%, which is greater than S5EE.L's maximum drawdown of -27.69%. Use the drawdown chart below to compare losses from any high point for HDLV.L and S5EE.L.

Drawdown Indicators

	HDLV.L	S5EE.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.02%	-27.69%	-13.33%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-10.73%	+3.57%
Max Drawdown (3Y) Largest decline over 3 years	-14.59%	-18.29%	+3.70%
Max Drawdown (5Y) Largest decline over 5 years	-20.04%	-27.69%	+7.65%
Max Drawdown (10Y) Largest decline over 10 years	-41.02%	—	—
Current Drawdown Current decline from peak	-5.15%	-0.05%	-5.10%
Average Drawdown Average peak-to-trough decline	-5.70%	-5.74%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	2.55%	+0.55%

Volatility

HDLV.L vs. S5EE.L - Volatility Comparison

The current volatility for Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) is 3.06%, while UBS S&P 500 ESG Elite UCITS ETF USD acc (S5EE.L) has a volatility of 3.84%. This indicates that HDLV.L experiences smaller price fluctuations and is considered to be less risky than S5EE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDLV.L	S5EE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	3.84%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	9.68%	-2.08%
Volatility (1Y) Calculated over the trailing 1-year period	10.52%	12.56%	-2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.99%	16.15%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	16.00%	+0.16%

HDLV.L vs. S5EE.L - Expense Ratio Comparison

HDLV.L has a 0.30% expense ratio, which is higher than S5EE.L's 0.15% expense ratio.

Dividends

HDLV.L vs. S5EE.L - Dividend Comparison

HDLV.L's dividend yield for the trailing twelve months is around 3.74%, while S5EE.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	3.74%	3.91%	3.54%	4.04%	3.56%	3.37%	4.35%	3.69%	3.79%	3.07%	3.07%	1.89%
S5EE.L UBS S&P 500 ESG Elite 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.L and S5EE.L in my portfolio?

HDLV.L and S5EE.L have a correlation of 0.16, 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 S5EE.L?

On fees, S5EE.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HDLV.L or S5EE.L?

S5EE.L is cheaper with a 0.15% expense ratio, compared with 0.30% for HDLV.L.

What is the main difference between HDLV.L and S5EE.L?

HDLV.L tracks S&P 500 Low Volatility High Dividend Index, while S5EE.L tracks S&P 500 Elite ESG Index USD. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.30% for HDLV.L and 0.15% for S5EE.L.