JEPQ.L vs. HDLV.L

Last updated Jun 13, 2026

JEPQ.L (JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)) and HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) are both exchange-traded funds - JEPQ.L is a Nasdaq-100 fund actively managed by JPMorgan, while HDLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index. JEPQ.L is actively managed, while HDLV.L is passively managed. Over the past year, JEPQ.L returned 25.64% vs 12.58% for HDLV.L. At a 0.10 correlation, their price movements are largely independent. JEPQ.L charges 0.35%/yr vs 0.30%/yr for HDLV.L.

Performance

JEPQ.L vs. HDLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JEPQ.L achieves a 7.27% return, which is significantly lower than HDLV.L's 8.80% return.

JEPQ.L

• 1D: 2.15%
• 1M: 1.07%
• YTD: 7.27%
• 6M: 9.24%
• 1Y: 25.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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%

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

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

	2026 (YTD)	2025	2024
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	7.27%	14.79%	3.73%
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	8.80%	3.58%	-3.67%

Correlation

The correlation between JEPQ.L and HDLV.L is 0.02, 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	0.02
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.10

JEPQ.L vs. HDLV.L - Sectors Allocation Comparison

Sectors	JEPQ.L	HDLV.L
Technology	54.0%	1.4%
Communication Services	15.4%	8.6%
Consumer Cyclical	12.7%	3.4%
Consumer Defensive	7.1%	17.8%
Healthcare	4.4%	5.1%
Industrials	3.1%	0.0%
Utilities	1.3%	13.7%
Basic Materials	1.0%	-
Energy	0.4%	14.1%
Financial Services	0.4%	15.6%
Real Estate	0.2%	20.1%

Return for Risk

JEPQ.L vs. HDLV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JEPQ.L

JEPQ.L Risk / Return Rank: 76
JEPQ.L Sharpe Ratio Rank: 74
JEPQ.L Sortino Ratio Rank: 78
JEPQ.L Omega Ratio Rank: 78
JEPQ.L Calmar Ratio Rank: 70
JEPQ.L Martin Ratio Rank: 78

HDLV.L

HDLV.L Risk / Return Rank: 35
HDLV.L Sharpe Ratio Rank: 37
HDLV.L Sortino Ratio Rank: 37
HDLV.L Omega Ratio Rank: 33
HDLV.L Calmar Ratio Rank: 39
HDLV.L Martin Ratio Rank: 31

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.

JEPQ.L vs. HDLV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.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.

	JEPQ.L	HDLV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.17	+0.91
Sortino ratio: Return per unit of downside risk	3.03	1.75	+1.28
Omega ratio: Gain probability vs. loss probability	1.40	1.20	+0.20
Calmar ratio: Return relative to maximum drawdown	3.08	1.75	+1.33
Martin ratio: Return relative to average drawdown	13.20	4.02	+9.18

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

The current JEPQ.L Sharpe Ratio is 2.07, which is higher than the HDLV.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of JEPQ.L and HDLV.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

JEPQ.L vs. HDLV.L - Drawdown Comparison

The maximum JEPQ.L drawdown since its inception was -20.08%, smaller than the maximum HDLV.L drawdown of -41.00%. Use the drawdown chart below to compare losses from any high point for JEPQ.L and HDLV.L.

Drawdown Indicators

	JEPQ.L	HDLV.L	Difference
Max Drawdown Largest peak-to-trough decline	-20.08%	-41.00%	+20.92%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-7.16%	-1.15%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.00%	—
Current Drawdown Current decline from peak	-2.19%	-1.15%	-1.04%
Average Drawdown Average peak-to-trough decline	-2.78%	-5.68%	+2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.94%	3.12%	-1.18%

Volatility

JEPQ.L vs. HDLV.L - Volatility Comparison

JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist) (JEPQ.L) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) have volatilities of 3.59% and 3.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JEPQ.L	HDLV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	3.57%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	9.44%	7.83%	+1.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	10.73%	+1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	14.03%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.26%	16.17%	+0.09%

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

JEPQ.L has a 0.35% expense ratio, which is higher than HDLV.L's 0.30% expense ratio.

Dividends

JEPQ.L vs. HDLV.L - Dividend Comparison

JEPQ.L's dividend yield for the trailing twelve months is around 10.01%, more than HDLV.L's 3.56% 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%
JEPQ.L JPMorgan Nasdaq Equity Premium Income Active UCITS ETF USD (Dist)	10.01%	10.06%	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 JEPQ.L and HDLV.L in my portfolio?

JEPQ.L and HDLV.L have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JEPQ.L or HDLV.L?

On fees, HDLV.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

HDLV.L is cheaper with a 0.30% expense ratio, compared with 0.35% for JEPQ.L.

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

JEPQ.L is categorized as Nasdaq-100, while HDLV.L is S&P 500. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.35% for JEPQ.L and 0.30% for HDLV.L.