SPYD.DE vs. HDLV.DE
SPYD.DE (State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF (Dist)) and HDLV.DE (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) are both Dividend funds - SPYD.DE tracks the S&P High Yield Dividend Aristocrats Index while HDLV.DE tracks the S&P 500 Low Volatility High Dividend Net Total Return Index. Both are passively managed. Over the past 10 years, SPYD.DE returned 8.71%/yr vs 6.48%/yr for HDLV.DE. Their correlation of 0.90 suggests significant overlap in exposure. SPYD.DE charges 0.35%/yr vs 0.30%/yr for HDLV.DE.
Performance
SPYD.DE vs. HDLV.DE - Performance Comparison
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Returns By Period
In the year-to-date period, SPYD.DE achieves a 14.85% return, which is significantly higher than HDLV.DE's 12.89% return. Over the past 10 years, SPYD.DE has outperformed HDLV.DE with an annualized return of 8.71%, while HDLV.DE has yielded a comparatively lower 6.48% annualized return.
SPYD.DE
- 1D
- 0.40%
- 1M
- 6.10%
- 6M
- 14.61%
- YTD
- 14.85%
- 1Y
- 17.32%
- 3Y*
- 8.66%
- 5Y*
- 7.85%
- 10Y*
- 8.71%
HDLV.DE
- 1D
- 0.44%
- 1M
- 6.78%
- 6M
- 13.04%
- YTD
- 12.89%
- 1Y
- 14.06%
- 3Y*
- 9.63%
- 5Y*
- 7.63%
- 10Y*
- 6.48%
SPYD.DE vs. HDLV.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYD.DE State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF (Dist) | 14.85% | -3.53% | 14.02% | -1.46% | 5.40% | 36.24% | -8.60% | 25.98% | 0.02% | 1.45% |
HDLV.DE Invesco S&P 500 High Dividend Low Volatility UCITS ETF | 12.89% | -8.06% | 23.32% | -2.45% | 6.28% | 35.97% | -19.13% | 21.77% | -2.56% | -2.34% |
Correlation
The correlation between SPYD.DE and HDLV.DE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 11, 2015 | 0.90 |
The correlation between SPYD.DE and HDLV.DE has been stable across timeframes, ranging from 0.87 to 0.91 - a consistent structural relationship.
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Return for Risk
SPYD.DE vs. HDLV.DE — Risk / Return Rank
SPYD.DE
HDLV.DE
SPYD.DE vs. HDLV.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF (Dist) (SPYD.DE) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLV.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.
| SPYD.DE | HDLV.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.21 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.13 | +0.67 |
| Martin ratioReturn relative to average drawdown | 7.19 | 5.44 | +1.75 |
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Drawdowns
SPYD.DE vs. HDLV.DE - Drawdown Comparison
The maximum SPYD.DE drawdown since its inception was -35.89%, smaller than the maximum HDLV.DE drawdown of -39.21%. Use the drawdown chart below to compare losses from any high point for SPYD.DE and HDLV.DE.
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Drawdown Indicators
| SPYD.DE | HDLV.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.89% | -39.21% | +3.32% |
Max Drawdown (1Y)Largest decline over 1 year | -6.16% | -6.56% | +0.40% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -19.09% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -19.35% | -19.99% | +0.64% |
Max Drawdown (10Y)Largest decline over 10 years | -35.89% | -39.21% | +3.32% |
Current DrawdownCurrent decline from peak | 0.00% | -2.47% | +2.47% |
Average DrawdownAverage peak-to-trough decline | -6.57% | -8.71% | +2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.40% | 2.58% | -0.18% |
Volatility
SPYD.DE vs. HDLV.DE - Volatility Comparison
The current volatility for State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF (Dist) (SPYD.DE) is 2.58%, while Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLV.DE) has a volatility of 3.52%. This indicates that SPYD.DE experiences smaller price fluctuations and is considered to be less risky than HDLV.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYD.DE | HDLV.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.58% | 3.52% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | 8.46% | -1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 10.99% | -0.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.48% | 13.60% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.83% | 17.10% | -1.27% |
SPYD.DE vs. HDLV.DE - Expense Ratio Comparison
SPYD.DE has a 0.35% expense ratio, which is higher than HDLV.DE's 0.30% expense ratio.
Dividends
SPYD.DE vs. HDLV.DE - Dividend Comparison
SPYD.DE's dividend yield for the trailing twelve months is around 1.97%, less than HDLV.DE's 3.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HDLV.DE Invesco S&P 500 High Dividend Low Volatility UCITS ETF | 3.47% | 4.01% | 3.43% | 4.14% | 3.60% | 3.24% | 4.64% | 3.68% | 3.70% | 3.22% | 2.93% | 1.86% |
SPYD.DE State Street SPDR S&P U.S. Dividend Aristocrats UCITS ETF (Dist) | 1.97% | 2.23% | 1.97% | 2.30% | 2.16% | 2.07% | 2.52% | 2.01% | 1.66% | 1.87% | 1.74% | 2.02% |
Frequently Asked Questions
SPYD.DE and HDLV.DE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HDLV.DE is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HDLV.DE is cheaper with a 0.30% expense ratio, compared with 0.35% for SPYD.DE.
SPYD.DE tracks S&P High Yield Dividend Aristocrats Index, while HDLV.DE tracks S&P 500 Low Volatility High Dividend Net Total Return Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for SPYD.DE and 0.30% for HDLV.DE.
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