X7PS.L vs. HDEU.L
X7PS.L (Invesco STOXX Europe 600 Optimised Banks UCITS ETF) and HDEU.L (PowerShares EURO STOXX High Dividend Low Volatility UCITS) are both Europe Equities funds from Invesco - X7PS.L tracks the Invesco STOXX Europe 600 Optimised Banks UCITS ETF while HDEU.L tracks the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, X7PS.L returned 16.30%/yr vs 8.95%/yr for HDEU.L. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
X7PS.L vs. HDEU.L - Performance Comparison
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Returns By Period
In the year-to-date period, X7PS.L achieves a 17.93% return, which is significantly higher than HDEU.L's 14.95% return. Over the past 10 years, X7PS.L has outperformed HDEU.L with an annualized return of 16.30%, while HDEU.L has yielded a comparatively lower 8.95% annualized return.
X7PS.L
- 1D
- 0.13%
- 1M
- 6.39%
- 6M
- 14.44%
- YTD
- 17.93%
- 1Y
- 53.36%
- 3Y*
- 44.72%
- 5Y*
- 32.08%
- 10Y*
- 16.30%
HDEU.L
- 1D
- 0.20%
- 1M
- 2.60%
- 6M
- 12.56%
- YTD
- 14.95%
- 1Y
- 25.62%
- 3Y*
- 21.84%
- 5Y*
- 13.60%
- 10Y*
- 8.95%
X7PS.L vs. HDEU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF | 17.93% | 78.30% | 33.17% | 25.70% | 0.44% | 38.22% | -22.81% | 13.99% | -26.23% | 11.67% |
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS | 14.95% | 35.86% | 10.17% | 13.59% | -8.21% | 21.05% | -17.96% | 17.35% | -8.19% | 10.05% |
Correlation
The correlation between X7PS.L and HDEU.L is 0.66, 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 | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2016 | 0.74 |
The correlation between X7PS.L and HDEU.L has been stable across timeframes, ranging from 0.66 to 0.75 - a consistent structural relationship.
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Return for Risk
X7PS.L vs. HDEU.L — Risk / Return Rank
X7PS.L
HDEU.L
X7PS.L vs. HDEU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.L) and PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.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.
| X7PS.L | HDEU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.45 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.24 | 4.33 | -1.09 |
| Martin ratioReturn relative to average drawdown | 10.66 | 13.85 | -3.19 |
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Drawdowns
X7PS.L vs. HDEU.L - Drawdown Comparison
The maximum X7PS.L drawdown since its inception was -60.64%, which is greater than HDEU.L's maximum drawdown of -40.22%. Use the drawdown chart below to compare losses from any high point for X7PS.L and HDEU.L.
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Drawdown Indicators
| X7PS.L | HDEU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.64% | -40.22% | -20.42% |
Max Drawdown (1Y)Largest decline over 1 year | -16.49% | -5.89% | -10.60% |
Max Drawdown (3Y)Largest decline over 3 years | -20.14% | -12.88% | -7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -29.70% | -22.43% | -7.27% |
Max Drawdown (10Y)Largest decline over 10 years | -56.51% | -40.22% | -16.29% |
Current DrawdownCurrent decline from peak | -0.94% | 0.00% | -0.94% |
Average DrawdownAverage peak-to-trough decline | -17.85% | -5.74% | -12.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.02% | 1.85% | +3.17% |
Volatility
X7PS.L vs. HDEU.L - Volatility Comparison
Invesco STOXX Europe 600 Optimised Banks UCITS ETF (X7PS.L) has a higher volatility of 5.45% compared to PowerShares EURO STOXX High Dividend Low Volatility UCITS (HDEU.L) at 2.83%. This indicates that X7PS.L's price experiences larger fluctuations and is considered to be riskier than HDEU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| X7PS.L | HDEU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 2.83% | +2.62% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 8.20% | +10.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.39% | 10.33% | +12.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 13.49% | +10.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.86% | 15.55% | +9.31% |
X7PS.L vs. HDEU.L - Expense Ratio Comparison
Both X7PS.L and HDEU.L have an expense ratio of 0.30%.
Dividends
X7PS.L vs. HDEU.L - Dividend Comparison
X7PS.L has not paid dividends to shareholders, while HDEU.L's dividend yield for the trailing twelve months is around 3.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HDEU.L PowerShares EURO STOXX High Dividend Low Volatility UCITS | 3.66% | 4.71% | 5.78% | 5.56% | 5.60% | 4.21% | 3.04% | 4.50% | 4.38% | 3.44% | 3.59% |
X7PS.L Invesco STOXX Europe 600 Optimised Banks UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
X7PS.L and HDEU.L have a correlation of 0.66, 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.
X7PS.L and HDEU.L have the same expense ratio: 0.30% per year.
X7PS.L tracks Invesco STOXX Europe 600 Optimised Banks UCITS ETF, while HDEU.L tracks MSCI EMU NR EUR.
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