HDLV.L vs. SPXE.L

Last updated Jul 18, 2026

HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) and SPXE.L (Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc)) are both S&P 500 funds from Invesco - HDLV.L tracks the S&P 500 Low Volatility High Dividend Index while SPXE.L tracks the S&P 500 Scored & Screened Index. Both are passively managed. Over the past 5 years, HDLV.L returned 7.64%/yr vs 13.46%/yr for SPXE.L. A 0.53 correlation means they provide meaningful diversification when combined. HDLV.L charges 0.30%/yr vs 0.09%/yr for SPXE.L.

Performance

HDLV.L vs. SPXE.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 Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc) (SPXE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HDLV.L achieves a 13.01% return, which is significantly higher than SPXE.L's 8.48% return.

HDLV.L

• 1D: 0.58%
• 1M: 5.47%
• 6M: 10.68%
• YTD: 13.01%
• 1Y: 15.42%
• 3Y*: 12.28%
• 5Y*: 7.64%
• 10Y*: 6.77%

SPXE.L

• 1D: -1.23%
• 1M: -1.46%
• 6M: 7.68%
• YTD: 8.48%
• 1Y: 22.18%
• 3Y*: 19.17%
• 5Y*: 13.46%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	13.01%	3.58%	16.39%	1.20%	0.44%	24.81%	8.46%
SPXE.L Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc)	8.48%	17.97%	24.55%	28.40%	-18.00%	32.29%	28.38%

Correlation

The correlation between HDLV.L and SPXE.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since Mar 10, 2020	0.53

Over the past year, the correlation between HDLV.L and SPXE.L has dropped to 0.13 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

HDLV.L vs. SPXE.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: 49
HDLV.L Sharpe Ratio Rank: 52
HDLV.L Sortino Ratio Rank: 54
HDLV.L Omega Ratio Rank: 46
HDLV.L Calmar Ratio Rank: 54
HDLV.L Martin Ratio Rank: 39

SPXE.L

SPXE.L Risk / Return Rank: 76
SPXE.L Sharpe Ratio Rank: 77
SPXE.L Sortino Ratio Rank: 82
SPXE.L Omega Ratio Rank: 77
SPXE.L Calmar Ratio Rank: 67
SPXE.L Martin Ratio Rank: 77

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. SPXE.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 Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc) (SPXE.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	SPXE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.39	1.85	-0.47
Sortino ratio: Return per unit of downside risk	2.06	2.81	-0.75
Omega ratio: Gain probability vs. loss probability	1.24	1.34	-0.10
Calmar ratio: Return relative to maximum drawdown	2.14	2.51	-0.37
Martin ratio: Return relative to average drawdown	4.85	10.68	-5.83

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

The current HDLV.L Sharpe Ratio is 1.39, which is comparable to the SPXE.L Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of HDLV.L and SPXE.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. SPXE.L - Drawdown Comparison

The maximum HDLV.L drawdown since its inception was -41.00%, which is greater than SPXE.L's maximum drawdown of -24.15%. Use the drawdown chart below to compare losses from any high point for HDLV.L and SPXE.L.

Drawdown Indicators

	HDLV.L	SPXE.L	Difference
Max Drawdown Largest peak-to-trough decline	-41.00%	-24.15%	-16.85%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-8.79%	+1.63%
Max Drawdown (3Y) Largest decline over 3 years	-14.56%	-19.14%	+4.58%
Max Drawdown (5Y) Largest decline over 5 years	-20.04%	-23.93%	+3.89%
Max Drawdown (10Y) Largest decline over 10 years	-41.00%	—	—
Current Drawdown Current decline from peak	0.00%	-2.05%	+2.05%
Average Drawdown Average peak-to-trough decline	-5.65%	-4.70%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	2.07%	+1.10%

Volatility

HDLV.L vs. SPXE.L - Volatility Comparison

Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) has a higher volatility of 3.90% compared to Invesco S&P 500 Scored & Screened UCITS ETF USD (Acc) (SPXE.L) at 3.04%. This indicates that HDLV.L's price experiences larger fluctuations and is considered to be riskier than SPXE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HDLV.L	SPXE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	3.04%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	8.53%	9.31%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	11.92%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.04%	16.20%	-2.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.13%	19.18%	-3.05%

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

HDLV.L has a 0.30% expense ratio, which is higher than SPXE.L's 0.09% expense ratio.

Dividends

HDLV.L vs. SPXE.L - Dividend Comparison

HDLV.L's dividend yield for the trailing twelve months is around 3.42%, while SPXE.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	3.42%	3.91%	3.54%	4.04%	3.56%	3.37%	4.35%	3.69%	3.79%	3.07%	3.07%	1.89%
SPXE.L Invesco S&P 500 Scored & Screened 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 SPXE.L in my portfolio?

HDLV.L and SPXE.L have a correlation of 0.13, 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 SPXE.L?

On fees, SPXE.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

SPXE.L is cheaper with a 0.09% expense ratio, compared with 0.30% for HDLV.L.

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

HDLV.L tracks S&P 500 Low Volatility High Dividend Index, while SPXE.L tracks S&P 500 Scored & Screened Index. Their fees differ too: 0.30% for HDLV.L and 0.09% for SPXE.L.