IQSA.DE vs. SMLD.DE
IQSA.DE (Invesco Global Active ESG Equity UCITS ETF USD Acc) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - IQSA.DE is a Global Equities fund actively managed by Invesco, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. IQSA.DE is actively managed, while SMLD.DE is passively managed. Over the past 5 years, IQSA.DE returned 15.45%/yr vs 25.24%/yr for SMLD.DE. At a 0.41 correlation, their price movements are largely independent. IQSA.DE charges 0.30%/yr vs 0.50%/yr for SMLD.DE.
Performance
IQSA.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IQSA.DE achieves a 14.81% return, which is significantly lower than SMLD.DE's 20.75% return.
IQSA.DE
- 1D
- -0.11%
- 1M
- 6.18%
- YTD
- 14.81%
- 6M
- 16.74%
- 1Y
- 28.62%
- 3Y*
- 22.03%
- 5Y*
- 15.45%
- 10Y*
- —
SMLD.DE
- 1D
- -0.66%
- 1M
- 0.52%
- YTD
- 20.75%
- 6M
- 14.96%
- 1Y
- 13.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
IQSA.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IQSA.DE Invesco Global Active ESG Equity UCITS ETF USD Acc | 14.81% | 9.64% | 29.92% | 20.24% | -9.32% | 35.68% | 0.13% | 13.13% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 27.59% | 49.18% | 62.11% | -27.45% | -3.41% |
Correlation
The correlation between IQSA.DE and SMLD.DE is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Aug 6, 2019 | 0.41 |
Over the past year, the correlation between IQSA.DE and SMLD.DE has dropped to 0.11 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
IQSA.DE vs. SMLD.DE — Risk / Return Rank
IQSA.DE
SMLD.DE
IQSA.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| IQSA.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.15 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 0.92 | +3.67 |
| Martin ratioReturn relative to average drawdown | 18.23 | 1.91 | +16.32 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IQSA.DE | SMLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.34 | 0.51 | +1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.04 | 1.10 | -0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.29 | +0.65 |
Drawdowns
IQSA.DE vs. SMLD.DE - Drawdown Comparison
The maximum IQSA.DE drawdown since its inception was -34.11%, smaller than the maximum SMLD.DE drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for IQSA.DE and SMLD.DE.
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Drawdown Indicators
| IQSA.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.11% | -73.78% | +39.67% |
Max Drawdown (1Y)Largest decline over 1 year | -6.20% | -14.77% | +8.57% |
Max Drawdown (3Y)Largest decline over 3 years | -21.35% | -22.99% | +1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -21.35% | -22.99% | +1.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.79% | — |
Current DrawdownCurrent decline from peak | -0.33% | -3.47% | +3.14% |
Average DrawdownAverage peak-to-trough decline | -4.38% | -17.76% | +13.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.57% | 7.16% | -5.59% |
Volatility
IQSA.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.DE) is 3.32%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 5.38%. This indicates that IQSA.DE experiences smaller price fluctuations and is considered to be less risky than SMLD.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IQSA.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 5.38% | -2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 8.85% | 12.79% | -3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.17% | 26.64% | -14.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.71% | 22.60% | -7.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.74% | 34.70% | -17.96% |
IQSA.DE vs. SMLD.DE - Expense Ratio Comparison
IQSA.DE has a 0.30% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
IQSA.DE vs. SMLD.DE - Dividend Comparison
IQSA.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQSA.DE Invesco Global Active ESG Equity 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% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
Frequently Asked Questions
IQSA.DE and SMLD.DE have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IQSA.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IQSA.DE is cheaper with a 0.30% expense ratio, compared with 0.50% for SMLD.DE.
IQSA.DE is categorized as Global Equities, while SMLD.DE is Energy Equities. Their fees differ too: 0.30% for IQSA.DE and 0.50% for SMLD.DE.
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