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XNAQ.L vs. HDLG.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XNAQ.L vs. HDLG.L

Last updated Jun 5, 2026

XNAQ.L (Xtrackers Nasdaq 100 UCITS ETF 1C) and HDLG.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF) are both exchange-traded funds - XNAQ.L is a Nasdaq-100 fund tracking the Russell 1000 Growth TR USD, while HDLG.L is a S&P 500 fund tracking the S&P 500 Low Volatility High Dividend Index. Both are passively managed. Over the past 5 years, XNAQ.L returned 18.96%/yr vs 6.17%/yr for HDLG.L. At a 0.21 correlation, their price movements are largely independent. XNAQ.L charges 0.20%/yr vs 0.30%/yr for HDLG.L.

Performance

XNAQ.L vs. HDLG.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XNAQ.L is traded in GBP, while HDLG.L is traded in GBp. To make them comparable, the HDLG.L values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, XNAQ.L achieves a 19.89% return, which is significantly higher than HDLG.L's 4.61% return.

XNAQ.L

1D
-0.63%
1M
8.16%
YTD
19.89%
6M
17.66%
1Y
41.02%
3Y*
24.81%
5Y*
18.96%
10Y*
—

HDLG.L

1D
0.11%
1M
0.95%
YTD
4.61%
6M
4.86%
1Y
9.65%
3Y*
8.12%
5Y*
6.17%
10Y*
7.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XNAQ.L vs. HDLG.L - Yearly Performance Comparison

2026 (YTD)20252024202320222021
XNAQ.L
Xtrackers Nasdaq 100 UCITS ETF 1C		19.89%11.71%28.62%47.83%-25.44%26.22%
HDLG.L
Invesco S&P 500 High Dividend Low Volatility UCITS ETF		4.61%-3.57%18.46%-4.52%12.44%20.41%

Correlation

The correlation between XNAQ.L and HDLG.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.07

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Jan 29, 2021

0.21

The correlation between XNAQ.L and HDLG.L shifts across timeframes, from -0.12 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.

XNAQ.L vs. HDLG.L - Sectors Allocation Comparison

Sectors
XNAQ.L
HDLG.L

Technology

53.7%
1.5%

Communication Services

15.8%
8.5%

Consumer Cyclical

12.2%
3.5%

Consumer Defensive

7.7%
18.4%

Healthcare

4.2%
5.0%

Industrials

3.1%
0.0%

Utilities

1.4%
13.8%

Basic Materials

1.1%
0.0%

Energy

0.6%
12.0%

Financial Services

0.2%
15.9%

Real Estate

0.1%
21.3%

Technology

XNAQ.L
53.7%
HDLG.L
1.5%

Communication Services

XNAQ.L
15.8%
HDLG.L
8.5%

Consumer Cyclical

XNAQ.L
12.2%
HDLG.L
3.5%

Consumer Defensive

XNAQ.L
7.7%
HDLG.L
18.4%

Healthcare

XNAQ.L
4.2%
HDLG.L
5.0%

Industrials

XNAQ.L
3.1%
HDLG.L
0.0%

Utilities

XNAQ.L
1.4%
HDLG.L
13.8%

Basic Materials

XNAQ.L
1.1%
HDLG.L
0.0%

Energy

XNAQ.L
0.6%
HDLG.L
12.0%

Financial Services

XNAQ.L
0.2%
HDLG.L
15.9%

Real Estate

XNAQ.L
0.1%
HDLG.L
21.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Xtrackers Nasdaq 100 UCITS ETF 1C

Invesco S&P 500 High Dividend Low Volatility UCITS ETF

Often compared with XNAQ.L:
XNAQ.L vs. EQQQ.LXNAQ.L vs. CNX1.LXNAQ.L vs. CNDX.LXNAQ.L vs. XDWT.DEXNAQ.L vs. QQQXNAQ.L vs. EQGB.LXNAQ.L vs. XLKQ.L
Often compared with HDLG.L:
HDLG.L vs. VHYL.ASHDLG.L vs. D5BM.DEHDLG.L vs. USDV.LHDLG.L vs. VUSA.LHDLG.L vs. SCHDHDLG.L vs. SPYHDLG.L vs. LGGE.DE

Return for Risk

XNAQ.L vs. HDLG.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XNAQ.L
XNAQ.L Risk / Return Rank: 7878
Overall Rank
XNAQ.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
XNAQ.L Sortino Ratio Rank: 8383
Sortino Ratio Rank
XNAQ.L Omega Ratio Rank: 8383
Omega Ratio Rank
XNAQ.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
XNAQ.L Martin Ratio Rank: 6262
Martin Ratio Rank
HDLG.L
HDLG.L Risk / Return Rank: 2626
Overall Rank
HDLG.L Sharpe Ratio Rank: 2626
Sharpe Ratio Rank
HDLG.L Sortino Ratio Rank: 2626
Sortino Ratio Rank
HDLG.L Omega Ratio Rank: 2323
Omega Ratio Rank
HDLG.L Calmar Ratio Rank: 2929
Calmar Ratio Rank
HDLG.L Martin Ratio Rank: 2626
Martin Ratio Rank
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.

XNAQ.L vs. HDLG.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) and Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.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.

XNAQ.LHDLG.LDifference
Sharpe ratioReturn per unit of total volatility
2.83
0.91

+1.91

Sortino ratioReturn per unit of downside risk
3.70
1.37

+2.33

Omega ratioGain probability vs. loss probability

1.50

1.15

+0.35

Calmar ratioReturn relative to maximum drawdown

3.79

1.39

+2.40

Martin ratioReturn relative to average drawdown

11.13

3.55

+7.58

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XNAQ.L vs. HDLG.L - Sharpe Ratio Comparison

The current XNAQ.L Sharpe Ratio is 2.83, which is higher than the HDLG.L Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of XNAQ.L and HDLG.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.

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Sharpe Ratios by Period

XNAQ.LHDLG.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.83

0.91

+1.91

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.00

0.48

+0.52

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.46

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.93

0.58

+0.35

Drawdowns

XNAQ.L vs. HDLG.L - Drawdown Comparison

The maximum XNAQ.L drawdown since its inception was -27.52%, smaller than the maximum HDLG.L drawdown of -33.75%. Use the drawdown chart below to compare losses from any high point for XNAQ.L and HDLG.L.

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Drawdown Indicators

XNAQ.LHDLG.LDifference

Max Drawdown

Largest peak-to-trough decline

-27.52%

-33.75%

+6.23%

Max Drawdown (1Y)

Largest decline over 1 year

-10.99%

-6.92%

-4.07%

Max Drawdown (3Y)

Largest decline over 3 years

-24.56%

-15.61%

-8.95%

Max Drawdown (5Y)

Largest decline over 5 years

-27.52%

-17.84%

-9.68%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.75%

—

Current Drawdown

Current decline from peak

-0.63%

-4.90%

+4.27%

Average Drawdown

Average peak-to-trough decline

-7.01%

-6.30%

-0.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.75%

2.71%

+1.04%

Volatility

XNAQ.L vs. HDLG.L - Volatility Comparison

Xtrackers Nasdaq 100 UCITS ETF 1C (XNAQ.L) has a higher volatility of 4.18% compared to Invesco S&P 500 High Dividend Low Volatility UCITS ETF (HDLG.L) at 2.93%. This indicates that XNAQ.L's price experiences larger fluctuations and is considered to be riskier than HDLG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XNAQ.LHDLG.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.18%

2.93%

+1.25%

Volatility (6M)

Calculated over the trailing 6-month period

10.38%

8.26%

+2.12%

Volatility (1Y)

Calculated over the trailing 1-year period

14.73%

10.53%

+4.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.04%

12.96%

+6.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.13%

15.66%

+3.47%

XNAQ.L vs. HDLG.L - Expense Ratio Comparison

XNAQ.L has a 0.20% expense ratio, which is lower than HDLG.L's 0.30% expense ratio.

Dividends

XNAQ.L vs. HDLG.L - Dividend Comparison

XNAQ.L has not paid dividends to shareholders, while HDLG.L's dividend yield for the trailing twelve months is around 3.73%.

PositionTTM20252024202320222021202020192018201720162015
HDLG.L
Invesco S&P 500 High Dividend Low Volatility UCITS ETF		3.73%3.93%3.46%4.12%3.49%3.30%4.65%3.77%3.67%3.18%2.88%1.86%
XNAQ.L
Xtrackers Nasdaq 100 UCITS ETF 1C		0.00%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

XNAQ.L and HDLG.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XNAQ.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XNAQ.L is cheaper with a 0.20% expense ratio, compared with 0.30% for HDLG.L.

XNAQ.L is categorized as Nasdaq-100, while HDLG.L is S&P 500. XNAQ.L tracks Russell 1000 Growth TR USD, while HDLG.L tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.20% for XNAQ.L and 0.30% for HDLG.L.

Portfolio Optimizer

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