TRET.L vs. HDLV.L

Last updated Jun 16, 2026

TRET.L (VanEck Global Real Estate UCITS ETF) and HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) are both exchange-traded funds - TRET.L is a REIT fund tracking the GPR Global 100 Index, 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, TRET.L returned 5.65%/yr vs 6.87%/yr for HDLV.L. A 0.64 correlation means they provide meaningful diversification when combined. TRET.L charges 0.25%/yr vs 0.30%/yr for HDLV.L.

Performance

TRET.L vs. HDLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Global Real Estate UCITS ETF (TRET.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

The year-to-date returns for both stocks are quite close, with TRET.L having a 8.17% return and HDLV.L slightly lower at 8.12%. Over the past 10 years, TRET.L has underperformed HDLV.L with an annualized return of 5.65%, while HDLV.L has yielded a comparatively higher 6.87% annualized return.

TRET.L

• 1D: -0.25%
• 1M: 2.98%
• YTD: 8.17%
• 6M: 8.79%
• 1Y: 14.84%
• 3Y*: 11.42%
• 5Y*: 2.69%
• 10Y*: 5.65%

HDLV.L

• 1D: -0.62%
• 1M: 4.80%
• YTD: 8.12%
• 6M: 8.21%
• 1Y: 11.72%
• 3Y*: 11.03%
• 5Y*: 5.80%
• 10Y*: 6.87%

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRET.L VanEck Global Real Estate UCITS ETF	8.17%	14.41%	1.07%	13.92%	-25.67%	29.73%	-6.91%	36.63%	0.98%	-3.31%
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	8.12%	3.58%	16.39%	1.20%	0.44%	24.81%	-10.91%	18.81%	-7.12%	11.37%

Correlation

The correlation between TRET.L and HDLV.L is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since May 11, 2015	0.64

The correlation between TRET.L and HDLV.L has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.

Return for Risk

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

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

TRET.L

TRET.L Risk / Return Rank: 32
TRET.L Sharpe Ratio Rank: 34
TRET.L Sortino Ratio Rank: 34
TRET.L Omega Ratio Rank: 32
TRET.L Calmar Ratio Rank: 29
TRET.L Martin Ratio Rank: 33

HDLV.L

HDLV.L Risk / Return Rank: 31
HDLV.L Sharpe Ratio Rank: 31
HDLV.L Sortino Ratio Rank: 32
HDLV.L Omega Ratio Rank: 28
HDLV.L Calmar Ratio Rank: 34
HDLV.L Martin Ratio Rank: 28

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.

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

This table presents a comparison of risk-adjusted performance metrics for VanEck Global Real Estate UCITS ETF (TRET.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.

	TRET.L	HDLV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.18	1.09	+0.09
Sortino ratio: Return per unit of downside risk	1.76	1.64	+0.12
Omega ratio: Gain probability vs. loss probability	1.21	1.19	+0.02
Calmar ratio: Return relative to maximum drawdown	1.41	1.63	-0.22
Martin ratio: Return relative to average drawdown	4.82	3.75	+1.08

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

The current TRET.L Sharpe Ratio is 1.18, which is comparable to the HDLV.L Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of TRET.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

TRET.L vs. HDLV.L - Drawdown Comparison

The maximum TRET.L drawdown since its inception was -42.25%, roughly equal to the maximum HDLV.L drawdown of -41.00%. Use the drawdown chart below to compare losses from any high point for TRET.L and HDLV.L.

Drawdown Indicators

	TRET.L	HDLV.L	Difference
Max Drawdown Largest peak-to-trough decline	-42.25%	-41.00%	-1.25%
Max Drawdown (1Y) Largest decline over 1 year	-10.49%	-7.16%	-3.33%
Max Drawdown (3Y) Largest decline over 3 years	-16.92%	-14.56%	-2.36%
Max Drawdown (5Y) Largest decline over 5 years	-33.35%	-20.04%	-13.31%
Max Drawdown (10Y) Largest decline over 10 years	-42.25%	-41.00%	-1.25%
Current Drawdown Current decline from peak	-2.14%	-1.77%	-0.37%
Average Drawdown Average peak-to-trough decline	-10.61%	-5.68%	-4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	3.12%	-0.05%

Volatility

TRET.L vs. HDLV.L - Volatility Comparison

VanEck Global Real Estate UCITS ETF (TRET.L) has a higher volatility of 4.41% compared to Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) at 3.62%. This indicates that TRET.L's price experiences larger fluctuations and is considered to be riskier than HDLV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRET.L	HDLV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	3.62%	+0.79%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	7.87%	+2.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	10.77%	+1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	14.04%	+2.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.98%	16.17%	+1.81%

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

TRET.L has a 0.25% expense ratio, which is lower than HDLV.L's 0.30% expense ratio.

Dividends

TRET.L vs. HDLV.L - Dividend Comparison

TRET.L's dividend yield for the trailing twelve months is around 3.36%, less than HDLV.L's 3.58% 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	3.58%	3.91%	3.54%	4.04%	3.56%	3.37%	4.35%	3.69%	3.79%	3.07%	3.07%	1.89%
TRET.L VanEck Global Real Estate UCITS ETF	3.36%	3.54%	3.56%	3.54%	4.55%	1.86%	4.18%	3.32%	5.03%	3.63%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TRET.L and HDLV.L in my portfolio?

TRET.L and HDLV.L have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, TRET.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

TRET.L is cheaper with a 0.25% expense ratio, compared with 0.30% for HDLV.L.

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

TRET.L is categorized as REIT, while HDLV.L is S&P 500. TRET.L tracks GPR Global 100 Index, while HDLV.L tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.25% for TRET.L and 0.30% for HDLV.L.