LDME.L vs. HDEM.L

Last updated Jul 16, 2026

LDME.L (L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis) and HDEM.L (Invesco FTSE EM High Dividend Low Volatility UCITS ETF) are both Emerging Markets Equities funds - LDME.L tracks the L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis while HDEM.L tracks the MSCI EM NR USD. Both are passively managed. Over the past 5 years, LDME.L returned 9.82%/yr vs 6.99%/yr for HDEM.L. A 0.75 correlation means they provide meaningful diversification when combined. LDME.L charges 0.45%/yr vs 0.49%/yr for HDEM.L.

Performance

LDME.L vs. HDEM.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis (LDME.L) and Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LDME.L achieves a 11.94% return, which is significantly higher than HDEM.L's 8.94% return.

LDME.L

• 1D: -0.95%
• 1M: -4.00%
• 6M: 8.40%
• YTD: 11.94%
• 1Y: 21.67%
• 3Y*: 16.11%
• 5Y*: 9.82%
• 10Y*: —

HDEM.L

• 1D: -0.16%
• 1M: -0.26%
• 6M: 6.24%
• YTD: 8.94%
• 1Y: 21.15%
• 3Y*: 13.29%
• 5Y*: 6.99%
• 10Y*: 6.27%

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

LDME.L vs. HDEM.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
LDME.L L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis	11.94%	16.54%	11.33%	10.64%	-2.34%	7,358.59%
HDEM.L Invesco FTSE EM High Dividend Low Volatility UCITS ETF	8.94%	18.32%	3.91%	3.74%	-6.40%	9.08%

Correlation

The correlation between LDME.L and HDEM.L is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jul 13, 2021	0.75

The correlation between LDME.L and HDEM.L has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.

Return for Risk

LDME.L vs. HDEM.L — Risk / Return Rank

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

LDME.L

LDME.L Risk / Return Rank: 73
LDME.L Sharpe Ratio Rank: 74
LDME.L Sortino Ratio Rank: 71
LDME.L Omega Ratio Rank: 71
LDME.L Calmar Ratio Rank: 83
LDME.L Martin Ratio Rank: 65

HDEM.L

HDEM.L Risk / Return Rank: 74
HDEM.L Sharpe Ratio Rank: 79
HDEM.L Sortino Ratio Rank: 81
HDEM.L Omega Ratio Rank: 72
HDEM.L Calmar Ratio Rank: 78
HDEM.L Martin Ratio Rank: 61

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.

LDME.L vs. HDEM.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis (LDME.L) and Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.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.

	LDME.L	HDEM.L	Difference
Sharpe ratio: Return per unit of total volatility	1.88	2.02	-0.14
Sortino ratio: Return per unit of downside risk	2.59	2.90	-0.32
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	3.53	3.27	+0.26
Martin ratio: Return relative to average drawdown	9.38	8.71	+0.67

LDME.L vs. HDEM.L - Sharpe Ratio Comparison

The current LDME.L Sharpe Ratio is 1.88, which is comparable to the HDEM.L Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of LDME.L and HDEM.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

LDME.L vs. HDEM.L - Drawdown Comparison

The maximum LDME.L drawdown since its inception was -14.82%, smaller than the maximum HDEM.L drawdown of -32.18%. Use the drawdown chart below to compare losses from any high point for LDME.L and HDEM.L.

Drawdown Indicators

	LDME.L	HDEM.L	Difference
Max Drawdown Largest peak-to-trough decline	-14.82%	-32.18%	+17.36%
Max Drawdown (1Y) Largest decline over 1 year	-6.44%	-6.44%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-14.82%	-12.22%	-2.60%
Max Drawdown (5Y) Largest decline over 5 years	-14.82%	-18.05%	+3.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.18%	—
Current Drawdown Current decline from peak	-5.29%	-3.18%	-2.11%
Average Drawdown Average peak-to-trough decline	-3.24%	-7.66%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.42%	0.00%

Volatility

LDME.L vs. HDEM.L - Volatility Comparison

L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis (LDME.L) has a higher volatility of 3.97% compared to Invesco FTSE EM High Dividend Low Volatility UCITS ETF (HDEM.L) at 3.15%. This indicates that LDME.L's price experiences larger fluctuations and is considered to be riskier than HDEM.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LDME.L	HDEM.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.97%	3.15%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	9.77%	7.58%	+2.19%
Volatility (1Y) Calculated over the trailing 1-year period	12.12%	10.41%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	13.57%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3,216.41%	15.69%	+3,200.72%

LDME.L vs. HDEM.L - Expense Ratio Comparison

LDME.L has a 0.45% expense ratio, which is lower than HDEM.L's 0.49% expense ratio.

Dividends

LDME.L vs. HDEM.L - Dividend Comparison

LDME.L's dividend yield for the trailing twelve months is around 2.85%, less than HDEM.L's 4.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HDEM.L Invesco FTSE EM High Dividend Low Volatility UCITS ETF	4.83%	5.18%	5.61%	6.08%	8.92%	5.96%	4.31%	5.23%	5.37%	5.06%	2.27%
LDME.L L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis	2.85%	3.04%	3.67%	3.56%	4.57%	1.55%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LDME.L and HDEM.L in my portfolio?

LDME.L and HDEM.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LDME.L or HDEM.L?

On fees, LDME.L is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LDME.L or HDEM.L?

LDME.L is cheaper with a 0.45% expense ratio, compared with 0.49% for HDEM.L.

What is the main difference between LDME.L and HDEM.L?

LDME.L tracks L&G Emerging Markets Quality Dividends Equal Weight ETF USD Dis, while HDEM.L tracks MSCI EM NR USD. They also come from different issuers: L&G and Invesco. Their fees differ too: 0.45% for LDME.L and 0.49% for HDEM.L.