SPYW.DE vs. HDLV.L
SPYW.DE (SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist)) and HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) are both exchange-traded funds - SPYW.DE is a Europe Equities fund tracking the S&P Euro High Yield Dividend Aristocrats, while HDLV.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 10 years, SPYW.DE returned 7.66%/yr vs 6.68%/yr for HDLV.L. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
SPYW.DE vs. HDLV.L - Performance Comparison
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Different Trading Currencies
SPYW.DE is traded in EUR, while HDLV.L is traded in USD. To make them comparable, the HDLV.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPYW.DE achieves a 7.56% return, which is significantly lower than HDLV.L's 10.47% return. Over the past 10 years, SPYW.DE has outperformed HDLV.L with an annualized return of 7.66%, while HDLV.L has yielded a comparatively lower 6.68% annualized return.
SPYW.DE
- 1D
- 1.00%
- 1M
- 2.59%
- YTD
- 7.56%
- 6M
- 10.13%
- 1Y
- 10.27%
- 3Y*
- 14.02%
- 5Y*
- 8.30%
- 10Y*
- 7.66%
HDLV.L
- 1D
- 0.87%
- 1M
- 6.25%
- YTD
- 10.47%
- 6M
- 10.62%
- 1Y
- 12.78%
- 3Y*
- 8.99%
- 5Y*
- 6.82%
- 10Y*
- 6.68%
SPYW.DE vs. HDLV.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 7.56% | 20.21% | 8.31% | 17.92% | -11.22% | 14.38% | -11.88% | 23.33% | -8.56% | 11.23% |
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist | 10.47% | -8.72% | 24.07% | -1.83% | 6.67% | 34.14% | -18.26% | 21.49% | -2.76% | -2.31% |
Correlation
The correlation between SPYW.DE and HDLV.L is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.39 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since May 11, 2015 | 0.51 |
The correlation between SPYW.DE and HDLV.L shifts across timeframes, from 0.37 (1 year) to 0.51 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPYW.DE vs. HDLV.L — Risk / Return Rank
SPYW.DE
HDLV.L
SPYW.DE vs. HDLV.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) 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.
| SPYW.DE | HDLV.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.26 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.19 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.28 | 1.98 | -0.70 |
| Martin ratioReturn relative to average drawdown | 4.24 | 4.99 | -0.75 |
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Drawdowns
SPYW.DE vs. HDLV.L - Drawdown Comparison
The maximum SPYW.DE drawdown since its inception was -38.67%, roughly equal to the maximum HDLV.L drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for SPYW.DE and HDLV.L.
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Drawdown Indicators
| SPYW.DE | HDLV.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.67% | -39.32% | +0.65% |
Max Drawdown (1Y)Largest decline over 1 year | -7.99% | -6.42% | -1.57% |
Max Drawdown (3Y)Largest decline over 3 years | -11.64% | -18.44% | +6.80% |
Max Drawdown (5Y)Largest decline over 5 years | -23.99% | -20.29% | -3.70% |
Max Drawdown (10Y)Largest decline over 10 years | -38.67% | -39.32% | +0.65% |
Current DrawdownCurrent decline from peak | -0.52% | -4.20% | +3.68% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -7.71% | +2.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 2.55% | -0.13% |
Volatility
SPYW.DE vs. HDLV.L - Volatility Comparison
The current volatility for SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) (SPYW.DE) is 2.61%, while Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) has a volatility of 4.03%. This indicates that SPYW.DE experiences smaller price fluctuations and is considered to be less risky than HDLV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPYW.DE | HDLV.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 4.03% | -1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 8.80% | 8.70% | +0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.72% | 11.59% | -0.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.29% | 14.20% | -0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.84% | 16.61% | -1.77% |
SPYW.DE vs. HDLV.L - Expense Ratio Comparison
Both SPYW.DE and HDLV.L have an expense ratio of 0.30%.
Dividends
SPYW.DE vs. HDLV.L - Dividend Comparison
SPYW.DE's dividend yield for the trailing twelve months is around 3.52%, less 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% |
SPYW.DE SPDR S&P Euro Dividend Aristocrats UCITS ETF (Dist) | 3.52% | 4.07% | 3.67% | 3.31% | 3.62% | 2.78% | 3.05% | 3.10% | 3.74% | 3.15% | 2.97% | 2.99% |
Frequently Asked Questions
SPYW.DE and HDLV.L have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SPYW.DE and HDLV.L have the same expense ratio: 0.30% per year.
SPYW.DE is categorized as Europe Equities, while HDLV.L is S&P 500. SPYW.DE tracks S&P Euro High Yield Dividend Aristocrats, while HDLV.L tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: State Street and Invesco.
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