SMLD.DE vs. IQSA.DE
SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) and IQSA.DE (Invesco Global Active ESG Equity UCITS ETF USD Acc) are both exchange-traded funds - SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite, while IQSA.DE is a Global Equities fund actively managed by Invesco. SMLD.DE is passively managed, while IQSA.DE is actively managed. Over the past 5 years, SMLD.DE returned 25.24%/yr vs 15.45%/yr for IQSA.DE. At a 0.41 correlation, their price movements are largely independent. SMLD.DE charges 0.50%/yr vs 0.30%/yr for IQSA.DE.
Performance
SMLD.DE vs. IQSA.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SMLD.DE achieves a 20.75% return, which is significantly higher than IQSA.DE's 14.81% return.
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
- 1D
- -0.11%
- 1M
- 6.18%
- YTD
- 14.81%
- 6M
- 16.74%
- 1Y
- 28.62%
- 3Y*
- 22.03%
- 5Y*
- 15.45%
- 10Y*
- —
SMLD.DE vs. IQSA.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
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% |
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% |
Correlation
The correlation between SMLD.DE and IQSA.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 SMLD.DE and IQSA.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
SMLD.DE vs. IQSA.DE — Risk / Return Rank
SMLD.DE
IQSA.DE
SMLD.DE vs. IQSA.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) and Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.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.
| SMLD.DE | IQSA.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 | 1.15 | 1.43 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 4.60 | -3.67 |
| Martin ratioReturn relative to average drawdown | 1.91 | 18.23 | -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
| SMLD.DE | IQSA.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.51 | 2.34 | -1.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 1.04 | +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 | 0.29 | 0.94 | -0.65 |
Drawdowns
SMLD.DE vs. IQSA.DE - Drawdown Comparison
The maximum SMLD.DE drawdown since its inception was -73.78%, which is greater than IQSA.DE's maximum drawdown of -34.11%. Use the drawdown chart below to compare losses from any high point for SMLD.DE and IQSA.DE.
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Drawdown Indicators
| SMLD.DE | IQSA.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.78% | -34.11% | -39.67% |
Max Drawdown (1Y)Largest decline over 1 year | -14.77% | -6.20% | -8.57% |
Max Drawdown (3Y)Largest decline over 3 years | -22.99% | -21.35% | -1.64% |
Max Drawdown (5Y)Largest decline over 5 years | -22.99% | -21.35% | -1.64% |
Max Drawdown (10Y)Largest decline over 10 years | -70.79% | — | — |
Current DrawdownCurrent decline from peak | -3.47% | -0.33% | -3.14% |
Average DrawdownAverage peak-to-trough decline | -17.76% | -4.38% | -13.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.16% | 1.57% | +5.59% |
Volatility
SMLD.DE vs. IQSA.DE - Volatility Comparison
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) has a higher volatility of 5.38% compared to Invesco Global Active ESG Equity UCITS ETF USD Acc (IQSA.DE) at 3.32%. This indicates that SMLD.DE's price experiences larger fluctuations and is considered to be riskier than IQSA.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMLD.DE | IQSA.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 3.32% | +2.06% |
Volatility (6M)Calculated over the trailing 6-month period | 12.79% | 8.85% | +3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.64% | 12.17% | +14.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 14.71% | +7.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.70% | 16.74% | +17.96% |
SMLD.DE vs. IQSA.DE - Expense Ratio Comparison
SMLD.DE has a 0.50% expense ratio, which is higher than IQSA.DE's 0.30% expense ratio.
Dividends
SMLD.DE vs. IQSA.DE - Dividend Comparison
SMLD.DE's dividend yield for the trailing twelve months is around 7.55%, while IQSA.DE has not paid dividends to shareholders.
| 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
SMLD.DE and IQSA.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.
SMLD.DE is categorized as Energy Equities, while IQSA.DE is Global Equities. Their fees differ too: 0.50% for SMLD.DE and 0.30% for IQSA.DE.
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