IQSE.DE vs. SMLD.DE
IQSE.DE (Invesco Global Active ESG Equity UCITS ETF EUR PfHedged Acc) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - IQSE.DE is a Global Equities fund actively managed by Invesco, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. IQSE.DE is actively managed, while SMLD.DE is passively managed. Over the past 5 years, IQSE.DE returned 13.68%/yr vs 17.25%/yr for SMLD.DE. At a 0.34 correlation, their price movements are largely independent. IQSE.DE charges 0.30%/yr vs 0.50%/yr for SMLD.DE.
Performance
IQSE.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, IQSE.DE achieves a 15.26% return, which is significantly lower than SMLD.DE's 19.81% return.
IQSE.DE
- 1D
- 0.51%
- 1M
- 1.73%
- 6M
- 15.25%
- YTD
- 15.26%
- 1Y
- 28.52%
- 3Y*
- 22.25%
- 5Y*
- 13.68%
- 10Y*
- —
SMLD.DE
- 1D
- 0.81%
- 1M
- -1.44%
- 6M
- 18.91%
- YTD
- 19.81%
- 1Y
- 15.83%
- 3Y*
- 15.35%
- 5Y*
- 17.25%
- 10Y*
- 6.59%
IQSE.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IQSE.DE Invesco Global Active ESG Equity UCITS ETF EUR PfHedged Acc | 15.26% | 19.02% | 24.13% | 22.41% | -14.80% | 26.85% | 6.30% | 6.70% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 19.81% | -8.84% | 28.79% | 15.50% | 39.45% | 46.81% | -37.59% | -10.32% |
Correlation
The correlation between IQSE.DE and SMLD.DE is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.15 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2019 | 0.34 |
The correlation between IQSE.DE and SMLD.DE shifts across timeframes, from -0.07 (1 year) to 0.34 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IQSE.DE vs. SMLD.DE — Risk / Return Rank
IQSE.DE
SMLD.DE
IQSE.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 EUR PfHedged Acc (IQSE.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.
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.
| IQSE.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.25 | ||
| Sortino ratioReturn per unit of downside risk | +1.94 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.17 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 3.50 | 1.63 | +1.87 |
| Martin ratioReturn relative to average drawdown | 14.74 | 3.59 | +11.15 |
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Drawdowns
IQSE.DE vs. SMLD.DE - Drawdown Comparison
The maximum IQSE.DE drawdown since its inception was -33.78%, smaller than the maximum SMLD.DE drawdown of -83.65%. Use the drawdown chart below to compare losses from any high point for IQSE.DE and SMLD.DE.
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Drawdown Indicators
| IQSE.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.78% | -83.65% | +49.87% |
Max Drawdown (1Y)Largest decline over 1 year | -8.11% | -9.68% | +1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -18.04% | -22.99% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -23.46% | -22.99% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -76.32% | — |
Current DrawdownCurrent decline from peak | -0.20% | -4.21% | +4.01% |
Average DrawdownAverage peak-to-trough decline | -5.03% | -34.00% | +28.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 4.40% | -2.47% |
Volatility
IQSE.DE vs. SMLD.DE - Volatility Comparison
The current volatility for Invesco Global Active ESG Equity UCITS ETF EUR PfHedged Acc (IQSE.DE) is 3.87%, while Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a volatility of 4.56%. This indicates that IQSE.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
| IQSE.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 4.56% | -0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 13.00% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.87% | 16.45% | -3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.67% | 20.31% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.58% | 29.07% | -11.49% |
IQSE.DE vs. SMLD.DE - Expense Ratio Comparison
IQSE.DE has a 0.30% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
IQSE.DE vs. SMLD.DE - Dividend Comparison
IQSE.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.76%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IQSE.DE Invesco Global Active ESG Equity UCITS ETF EUR PfHedged 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 | 7.76% | 8.45% | 7.99% | 8.81% | 8.09% | 8.24% | 11.54% | 9.90% | 9.70% | 8.60% | 7.76% | 9.80% |
Frequently Asked Questions
IQSE.DE and SMLD.DE have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IQSE.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IQSE.DE is cheaper with a 0.30% expense ratio, compared with 0.50% for SMLD.DE.
IQSE.DE is categorized as Global Equities, while SMLD.DE is Energy Equities. Their fees differ too: 0.30% for IQSE.DE and 0.50% for SMLD.DE.
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