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IAEX.L vs. HDEU.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAEX.L vs. HDEU.L

Last updated Jun 5, 2026

IAEX.L (iShares AEX UCITS ETF EUR (Dist)) and HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) are both Europe Equities funds - IAEX.L tracks the Euronext AEX All Share TR EUR while HDEU.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, IAEX.L returned 12.93%/yr vs 9.21%/yr for HDEU.L. A 0.70 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

IAEX.L vs. HDEU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IAEX.L is traded in GBp, while HDEU.L is traded in EUR. To make them comparable, the HDEU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, IAEX.L achieves a 10.82% return, which is significantly higher than HDEU.L's 9.45% return. Over the past 10 years, IAEX.L has outperformed HDEU.L with an annualized return of 12.93%, while HDEU.L has yielded a comparatively lower 9.21% annualized return.

IAEX.L

1D
0.41%
1M
4.18%
YTD
10.82%
6M
10.84%
1Y
19.37%
3Y*
14.11%
5Y*
10.66%
10Y*
12.93%

HDEU.L

1D
-0.17%
1M
0.90%
YTD
9.45%
6M
11.03%
1Y
24.34%
3Y*
20.33%
5Y*
12.89%
10Y*
9.21%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IAEX.L vs. HDEU.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		10.82%16.56%9.02%14.52%-5.93%21.34%11.18%22.17%-7.39%21.31%
HDEU.L
PowerShares EURO STOXX High Dividend Low Volatility UCITS		9.45%43.14%5.17%11.31%-3.49%13.90%-13.33%10.68%-7.27%14.71%

Correlation

The correlation between IAEX.L and HDEU.L is 0.53, 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

0.53

Correlation (3Y)
Calculated over the trailing 3-year period

0.59

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (10Y)
Calculated over the trailing 10-year period

0.69

Correlation (All Time)
Calculated using the full available price history since Jan 11, 2016

0.70

The correlation between IAEX.L and HDEU.L shifts across timeframes, from 0.53 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

IAEX.L vs. HDEU.L - Sectors Allocation Comparison

Sectors
IAEX.L
HDEU.L

Technology

27.1%

-

Consumer Defensive

18.4%
3.7%

Financial Services

15.3%
35.6%

Energy

13.5%
6.9%

Industrials

8.3%
3.7%

Basic Materials

5.9%
9.9%

Consumer Cyclical

5.0%
10.2%

Communication Services

4.2%
6.3%

Healthcare

1.9%
0.0%

Real Estate

0.5%
11.5%

Utilities

-

12.1%

Technology

IAEX.L
27.1%
HDEU.L

-

Consumer Defensive

IAEX.L
18.4%
HDEU.L
3.7%

Financial Services

IAEX.L
15.3%
HDEU.L
35.6%

Energy

IAEX.L
13.5%
HDEU.L
6.9%

Industrials

IAEX.L
8.3%
HDEU.L
3.7%

Basic Materials

IAEX.L
5.9%
HDEU.L
9.9%

Consumer Cyclical

IAEX.L
5.0%
HDEU.L
10.2%

Communication Services

IAEX.L
4.2%
HDEU.L
6.3%

Healthcare

IAEX.L
1.9%
HDEU.L
0.0%

Real Estate

IAEX.L
0.5%
HDEU.L
11.5%

Utilities

IAEX.L

-

HDEU.L
12.1%

Compare stocks, funds, or ETFs

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iShares AEX UCITS ETF EUR (Dist)

PowerShares EURO STOXX High Dividend Low Volatility UCITS

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IAEX.L vs. CSPX.LIAEX.L vs. CNDX.LIAEX.L vs. ^GSPCIAEX.L vs. VOOIAEX.L vs. VGTIAEX.L vs. VUSA.LIAEX.L vs. IUSA.L
Often compared with HDEU.L:
HDEU.L vs. EUN0.DEHDEU.L vs. GLDHDEU.L vs. VDIV.DEHDEU.L vs. WINC.ASHDEU.L vs. H50E.LHDEU.L vs. ISPA.DEHDEU.L vs. EUNK.DE

Return for Risk

IAEX.L vs. HDEU.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IAEX.L
IAEX.L Risk / Return Rank: 4646
Overall Rank
IAEX.L Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
IAEX.L Sortino Ratio Rank: 4343
Sortino Ratio Rank
IAEX.L Omega Ratio Rank: 4444
Omega Ratio Rank
IAEX.L Calmar Ratio Rank: 5353
Calmar Ratio Rank
IAEX.L Martin Ratio Rank: 4545
Martin Ratio Rank
HDEU.L
HDEU.L Risk / Return Rank: 6464
Overall Rank
HDEU.L Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
HDEU.L Sortino Ratio Rank: 5858
Sortino Ratio Rank
HDEU.L Omega Ratio Rank: 6464
Omega Ratio Rank
HDEU.L Calmar Ratio Rank: 7272
Calmar Ratio Rank
HDEU.L Martin Ratio Rank: 6464
Martin Ratio Rank
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.

IAEX.L vs. HDEU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares AEX UCITS ETF EUR (Dist) (IAEX.L) and PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.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.

IAEX.LHDEU.LDifference
Sharpe ratioReturn per unit of total volatility
1.53
2.30

-0.77

Sortino ratioReturn per unit of downside risk
2.16
3.07

-0.91

Omega ratioGain probability vs. loss probability

1.28

1.43

-0.15

Calmar ratioReturn relative to maximum drawdown

2.57

3.38

-0.81

Martin ratioReturn relative to average drawdown

7.46

11.58

-4.12

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IAEX.L vs. HDEU.L - Sharpe Ratio Comparison

The current IAEX.L Sharpe Ratio is 1.53, which is lower than the HDEU.L Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of IAEX.L and HDEU.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.

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Sharpe Ratios by Period

IAEX.LHDEU.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.53

2.30

-0.77

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.92

-0.22

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.75

0.58

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.25

0.60

-0.35

Drawdowns

IAEX.L vs. HDEU.L - Drawdown Comparison

The maximum IAEX.L drawdown since its inception was -63.69%, which is greater than HDEU.L's maximum drawdown of -35.89%. Use the drawdown chart below to compare losses from any high point for IAEX.L and HDEU.L.

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Drawdown Indicators

IAEX.LHDEU.LDifference

Max Drawdown

Largest peak-to-trough decline

-63.69%

-35.89%

-27.80%

Max Drawdown (1Y)

Largest decline over 1 year

-7.50%

-7.16%

-0.34%

Max Drawdown (3Y)

Largest decline over 3 years

-12.75%

-11.63%

-1.12%

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

-19.85%

-2.05%

Max Drawdown (10Y)

Largest decline over 10 years

-28.83%

-35.89%

+7.06%

Current Drawdown

Current decline from peak

0.00%

-2.02%

+2.02%

Average Drawdown

Average peak-to-trough decline

-16.55%

-5.39%

-11.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.59%

2.10%

+0.49%

Volatility

IAEX.L vs. HDEU.L - Volatility Comparison

iShares AEX UCITS ETF EUR (Dist) (IAEX.L) has a higher volatility of 3.47% compared to PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) at 3.24%. This indicates that IAEX.L's price experiences larger fluctuations and is considered to be riskier than HDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAEX.LHDEU.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.47%

3.24%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

10.12%

8.18%

+1.94%

Volatility (1Y)

Calculated over the trailing 1-year period

12.63%

10.52%

+2.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.16%

13.95%

+1.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.22%

16.05%

+1.17%

IAEX.L vs. HDEU.L - Expense Ratio Comparison

Both IAEX.L and HDEU.L have an expense ratio of 0.30%.

Dividends

IAEX.L vs. HDEU.L - Dividend Comparison

IAEX.L's dividend yield for the trailing twelve months is around 2.12%, less than HDEU.L's 3.98% yield.

PositionTTM20252024202320222021202020192018201720162015
HDEU.L
PowerShares EURO STOXX High Dividend Low Volatility UCITS		3.98%4.71%5.77%5.56%5.60%4.21%3.04%4.50%4.38%3.44%3.59%0.00%
IAEX.L
iShares AEX UCITS ETF EUR (Dist)		2.12%2.37%2.57%2.43%2.56%1.84%1.57%3.29%3.54%3.09%3.34%3.94%

Frequently Asked Questions

IAEX.L and HDEU.L have a correlation of 0.53, 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.

IAEX.L and HDEU.L have the same expense ratio: 0.30% per year.

IAEX.L tracks Euronext AEX All Share TR EUR, while HDEU.L tracks MSCI EMU NR EUR. They also come from different issuers: iShares and Invesco.

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