UDVD.L vs. ESES.L

Last updated Jul 17, 2026

UDVD.L (SPDR S&P US Dividend Aristocrats UCITS ETF Dis) and ESES.L (Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc)) are both exchange-traded funds - UDVD.L is a Large Cap Blend Equities fund tracking the S&P High Yield Dividend Aristocrats Index, while ESES.L is a Emerging Markets Equities fund tracking the MSCI EM Universal Select Business Screens Index. Both are passively managed. Over the past 5 years, UDVD.L returned 7.14%/yr vs 7.17%/yr for ESES.L. At a 0.34 correlation, their price movements are largely independent. UDVD.L charges 0.35%/yr vs 0.19%/yr for ESES.L.

Performance

UDVD.L vs. ESES.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) and Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

UDVD.L is traded in USD, while ESES.L is traded in GBp. To make them comparable, the ESES.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, UDVD.L achieves a 11.98% return, which is significantly lower than ESES.L's 23.76% return.

UDVD.L

• 1D: 1.32%
• 1M: 1.97%
• 6M: 7.08%
• YTD: 11.98%
• 1Y: 16.32%
• 3Y*: 10.36%
• 5Y*: 7.14%
• 10Y*: 8.82%

ESES.L

• 1D: 0.43%
• 1M: -4.19%
• 6M: 16.91%
• YTD: 23.76%
• 1Y: 41.09%
• 3Y*: 20.32%
• 5Y*: 7.17%
• 10Y*: —

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

UDVD.L vs. ESES.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
UDVD.L SPDR S&P US Dividend Aristocrats UCITS ETF Dis	11.98%	8.57%	7.64%	2.06%	-0.33%	7.42%
ESES.L Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc)	23.76%	33.41%	5.75%	8.37%	-20.64%	6,714.49%

Correlation

The correlation between UDVD.L and ESES.L is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jul 7, 2021	0.34

The correlation between UDVD.L and ESES.L shifts across timeframes, from 0.15 (1 year) to 0.34 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

UDVD.L vs. ESES.L — Risk / Return Rank

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

UDVD.L

UDVD.L Risk / Return Rank: 57
UDVD.L Sharpe Ratio Rank: 62
UDVD.L Sortino Ratio Rank: 66
UDVD.L Omega Ratio Rank: 57
UDVD.L Calmar Ratio Rank: 57
UDVD.L Martin Ratio Rank: 44

ESES.L

ESES.L Risk / Return Rank: 80
ESES.L Sharpe Ratio Rank: 81
ESES.L Sortino Ratio Rank: 77
ESES.L Omega Ratio Rank: 81
ESES.L Calmar Ratio Rank: 84
ESES.L Martin Ratio Rank: 77

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.

UDVD.L vs. ESES.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) and Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.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.

	UDVD.L	ESES.L	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.97	-0.33
Sortino ratio: Return per unit of downside risk	2.41	2.66	-0.24
Omega ratio: Gain probability vs. loss probability	1.28	1.36	-0.07
Calmar ratio: Return relative to maximum drawdown	2.30	3.11	-0.81
Martin ratio: Return relative to average drawdown	5.77	10.76	-4.99

UDVD.L vs. ESES.L - Sharpe Ratio Comparison

The current UDVD.L Sharpe Ratio is 1.65, which is comparable to the ESES.L Sharpe Ratio of 1.97. The chart below compares the historical Sharpe Ratios of UDVD.L and ESES.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

UDVD.L vs. ESES.L - Drawdown Comparison

The maximum UDVD.L drawdown since its inception was -36.12%, roughly equal to the maximum ESES.L drawdown of -35.50%. Use the drawdown chart below to compare losses from any high point for UDVD.L and ESES.L.

Drawdown Indicators

	UDVD.L	ESES.L	Difference
Max Drawdown Largest peak-to-trough decline	-36.12%	-35.50%	-0.62%
Max Drawdown (1Y) Largest decline over 1 year	-7.06%	-13.13%	+6.07%
Max Drawdown (3Y) Largest decline over 3 years	-15.26%	-21.98%	+6.72%
Max Drawdown (5Y) Largest decline over 5 years	-15.26%	-35.11%	+19.85%
Max Drawdown (10Y) Largest decline over 10 years	-36.12%	—	—
Current Drawdown Current decline from peak	-0.41%	-5.83%	+5.42%
Average Drawdown Average peak-to-trough decline	-3.42%	-13.87%	+10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	3.81%	-0.99%

Volatility

UDVD.L vs. ESES.L - Volatility Comparison

The current volatility for SPDR S&P US Dividend Aristocrats UCITS ETF Dis (UDVD.L) is 3.47%, while Invesco MSCI Emerging Markets Universal Screened UCITS ETF USD (Acc) (ESES.L) has a volatility of 7.58%. This indicates that UDVD.L experiences smaller price fluctuations and is considered to be less risky than ESES.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UDVD.L	ESES.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	7.58%	-4.11%
Volatility (6M) Calculated over the trailing 6-month period	7.37%	18.72%	-11.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.92%	20.74%	-10.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	23.54%	-9.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	3,192.34%	-3,176.67%

UDVD.L vs. ESES.L - Expense Ratio Comparison

UDVD.L has a 0.35% expense ratio, which is higher than ESES.L's 0.19% expense ratio.

Dividends

UDVD.L vs. ESES.L - Dividend Comparison

UDVD.L's dividend yield for the trailing twelve months is around 2.00%, while ESES.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ESES.L Invesco MSCI Emerging Markets Universal Screened 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%
UDVD.L SPDR S&P US Dividend Aristocrats UCITS ETF Dis	2.00%	2.17%	2.03%	2.24%	2.13%	2.15%	2.36%	2.01%	2.27%	1.78%	1.83%	2.06%

Frequently Asked Questions

Can I hold both UDVD.L and ESES.L in my portfolio?

UDVD.L and ESES.L have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UDVD.L or ESES.L?

On fees, ESES.L is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UDVD.L or ESES.L?

ESES.L is cheaper with a 0.19% expense ratio, compared with 0.35% for UDVD.L.

What is the main difference between UDVD.L and ESES.L?

UDVD.L is categorized as Large Cap Blend Equities, while ESES.L is Emerging Markets Equities. UDVD.L tracks S&P High Yield Dividend Aristocrats Index, while ESES.L tracks MSCI EM Universal Select Business Screens Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for UDVD.L and 0.19% for ESES.L.