HDLV.L vs. SPYW.DE
HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) and SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) are both exchange-traded funds - HDLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index, while SPYW.DE is a Europe Equities fund tracking the S&P Euro High Yield Dividend Aristocrats. Both are passively managed. Over the past 10 years, HDLV.L returned 7.02%/yr vs 8.01%/yr for SPYW.DE. A 0.55 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
HDLV.L vs. SPYW.DE - Performance Comparison
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Different Trading Currencies
HDLV.L is traded in USD, while SPYW.DE is traded in EUR. To make them comparable, the SPYW.DE 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 8.80% return, which is significantly higher than SPYW.DE's 5.91% return. Over the past 10 years, HDLV.L has underperformed SPYW.DE with an annualized return of 7.02%, while SPYW.DE has yielded a comparatively higher 8.01% annualized return.
HDLV.L
- 1D
- 0.79%
- 1M
- 4.92%
- YTD
- 8.80%
- 6M
- 9.01%
- 1Y
- 12.58%
- 3Y*
- 11.55%
- 5Y*
- 5.85%
- 10Y*
- 7.02%
SPYW.DE
- 1D
- 0.89%
- 1M
- 1.30%
- YTD
- 5.91%
- 6M
- 8.51%
- 1Y
- 10.14%
- 3Y*
- 16.69%
- 5Y*
- 7.32%
- 10Y*
- 8.01%
HDLV.L vs. SPYW.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist | 8.80% | 3.58% | 16.39% | 1.20% | 0.44% | 24.81% | -10.91% | 18.81% | -7.12% | 11.37% |
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 5.91% | 35.71% | 2.12% | 21.64% | -16.11% | 5.36% | -3.27% | 20.73% | -12.86% | 26.96% |
Correlation
The correlation between HDLV.L and SPYW.DE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since May 11, 2015 | 0.55 |
The correlation between HDLV.L and SPYW.DE shifts across timeframes, from 0.43 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HDLV.L vs. SPYW.DE — Risk / Return Rank
HDLV.L
SPYW.DE
HDLV.L vs. SPYW.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 Dist (HDLV.L) and SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.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.L | SPYW.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.15 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.02 | +0.73 |
| Martin ratioReturn relative to average drawdown | 4.02 | 3.11 | +0.91 |
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Drawdowns
HDLV.L vs. SPYW.DE - Drawdown Comparison
The maximum HDLV.L drawdown since its inception was -41.00%, which is greater than SPYW.DE's maximum drawdown of -38.79%. Use the drawdown chart below to compare losses from any high point for HDLV.L and SPYW.DE.
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Drawdown Indicators
| HDLV.L | SPYW.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.00% | -38.79% | -2.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.16% | -9.91% | +2.75% |
Max Drawdown (3Y)Largest decline over 3 years | -14.56% | -13.94% | -0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.04% | -37.73% | +17.69% |
Max Drawdown (10Y)Largest decline over 10 years | -41.00% | -38.79% | -2.21% |
Current DrawdownCurrent decline from peak | -1.15% | -2.63% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -5.68% | -8.74% | +3.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 3.26% | -0.14% |
Volatility
HDLV.L vs. SPYW.DE - Volatility Comparison
Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) has a higher volatility of 3.57% compared to SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) at 3.18%. This indicates that HDLV.L's price experiences larger fluctuations and is considered to be riskier than SPYW.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.L | SPYW.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 3.18% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 10.39% | -2.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.73% | 12.94% | -2.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.03% | 17.03% | -3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 17.39% | -1.22% |
HDLV.L vs. SPYW.DE - Expense Ratio Comparison
Both HDLV.L and SPYW.DE have an expense ratio of 0.30%.
Dividends
HDLV.L vs. SPYW.DE - Dividend Comparison
HDLV.L's dividend yield for the trailing twelve months is around 3.56%, more than SPYW.DE's 3.52% yield.
| 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 | 3.56% | 3.91% | 3.54% | 4.04% | 3.56% | 3.37% | 4.35% | 3.69% | 3.79% | 3.07% | 3.07% | 1.89% |
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 3.52% | 4.07% | 3.67% | 3.31% | 3.62% | 2.78% | 3.05% | 3.10% | 3.74% | 3.15% | 2.97% | 2.99% |
Frequently Asked Questions
HDLV.L and SPYW.DE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HDLV.L and SPYW.DE have the same expense ratio: 0.30% per year.
HDLV.L is categorized as S&P 500, while SPYW.DE is Europe Equities. HDLV.L tracks S&P 500 Low Volatility High Dividend Index, while SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats. They also come from different issuers: Invesco and State Street.
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