XYLU.L vs. HDLV.L

Last updated Jun 13, 2026

XYLU.L (Global X S&P 500 Covered Call UCITS ETF USD) and HDLV.L (Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist) are both exchange-traded funds - XYLU.L is a Derivative Income fund tracking the Cboe S&P 500 BuyWrite 15% WHT 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 year, XYLU.L returned 15.69% vs 12.58% for HDLV.L. At a 0.23 correlation, their price movements are largely independent. XYLU.L charges 0.45%/yr vs 0.30%/yr for HDLV.L.

Performance

XYLU.L vs. HDLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X S&P 500 Covered Call UCITS ETF USD (XYLU.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

In the year-to-date period, XYLU.L achieves a 3.69% return, which is significantly lower than HDLV.L's 8.80% return.

XYLU.L

• 1D: 0.00%
• 1M: -0.89%
• YTD: 3.69%
• 6M: 5.21%
• 1Y: 15.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HDLV.L

• 1D: 0.79%
• 1M: 4.92%
• YTD: 8.80%
• 6M: 9.01%
• 1Y: 12.58%
• 3Y*: 11.55%
• 5Y*: 5.85%
• 10Y*: 7.02%

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

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

	2026 (YTD)	2025	2024	2023
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD	3.69%	7.85%	18.11%	1.33%
HDLV.L Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist	8.80%	3.58%	16.39%	5.78%

Correlation

The correlation between XYLU.L and HDLV.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Jul 11, 2023	0.23

The correlation between XYLU.L and HDLV.L shifts across timeframes, from 0.10 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

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

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

XYLU.L

XYLU.L Risk / Return Rank: 79
XYLU.L Sharpe Ratio Rank: 76
XYLU.L Sortino Ratio Rank: 83
XYLU.L Omega Ratio Rank: 83
XYLU.L Calmar Ratio Rank: 68
XYLU.L Martin Ratio Rank: 84

HDLV.L

HDLV.L Risk / Return Rank: 35
HDLV.L Sharpe Ratio Rank: 37
HDLV.L Sortino Ratio Rank: 37
HDLV.L Omega Ratio Rank: 33
HDLV.L Calmar Ratio Rank: 39
HDLV.L Martin Ratio Rank: 31

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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X S&P 500 Covered Call UCITS ETF USD (XYLU.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.

	XYLU.L	HDLV.L	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.17	+0.99
Sortino ratio: Return per unit of downside risk	3.30	1.75	+1.54
Omega ratio: Gain probability vs. loss probability	1.44	1.20	+0.24
Calmar ratio: Return relative to maximum drawdown	3.03	1.75	+1.28
Martin ratio: Return relative to average drawdown	15.24	4.02	+11.22

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

The current XYLU.L Sharpe Ratio is 2.16, which is higher than the HDLV.L Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of XYLU.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

XYLU.L vs. HDLV.L - Drawdown Comparison

The maximum XYLU.L drawdown since its inception was -17.20%, smaller than the maximum HDLV.L drawdown of -41.00%. Use the drawdown chart below to compare losses from any high point for XYLU.L and HDLV.L.

Drawdown Indicators

	XYLU.L	HDLV.L	Difference
Max Drawdown Largest peak-to-trough decline	-17.20%	-41.00%	+23.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.17%	-7.16%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.04%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.00%	—
Current Drawdown Current decline from peak	-2.31%	-1.15%	-1.16%
Average Drawdown Average peak-to-trough decline	-2.02%	-5.68%	+3.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	3.12%	-2.09%

Volatility

XYLU.L vs. HDLV.L - Volatility Comparison

The current volatility for Global X S&P 500 Covered Call UCITS ETF USD (XYLU.L) is 2.21%, while Invesco S&P 500 High Dividend Low Volatility UCITS ETF Dist (HDLV.L) has a volatility of 3.57%. This indicates that XYLU.L 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.

Volatility by Period

	XYLU.L	HDLV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	3.57%	-1.36%
Volatility (6M) Calculated over the trailing 6-month period	5.94%	7.83%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	7.27%	10.73%	-3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.39%	14.03%	-3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.39%	16.17%	-5.78%

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

XYLU.L has a 0.45% expense ratio, which is higher than HDLV.L's 0.30% expense ratio.

Dividends

XYLU.L vs. HDLV.L - Dividend Comparison

XYLU.L's dividend yield for the trailing twelve months is around 11.37%, more 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%
XYLU.L Global X S&P 500 Covered Call UCITS ETF USD	11.37%	10.48%	7.24%	3.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

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

XYLU.L and HDLV.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

On fees, HDLV.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

HDLV.L is cheaper with a 0.30% expense ratio, compared with 0.45% for XYLU.L.

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

XYLU.L is categorized as Derivative Income, while HDLV.L is S&P 500. XYLU.L tracks Cboe S&P 500 BuyWrite 15% WHT Index, while HDLV.L tracks S&P 500 Low Volatility High Dividend Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.45% for XYLU.L and 0.30% for HDLV.L.