# FTSE EM High Div. Low Vol. (HDEM)

**Page:** https://fundology.uk/fund/hdem · ISIN IE00BYYXBF44

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, HDEM (FTSE EM High Div. Low Vol., ISIN IE00BYYXBF44) closed at £21.70 on the London Stock Exchange. Its ongoing charge is 0.49% a year (about £49 on £10,000). Over the five years to 13/11/2026 its total return was +35.4%, or +5.7% after UK CPIH inflation.

## Summary

Invesco Markets III Plc - FTSE EM High Div. Low Vol. is an exchange-traded fund (ETF) from Invesco, launched in 2016. It tracks the FTSE Emerging High Dividend Low Volatility Index — companies in emerging economies such as China, India, Taiwan and Brazil. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.49% a year — about £49 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is paid out to holders as cash, usually a few times a year.

Latest close: **£21.70** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | HDEM |
| ISIN | IE00BYYXBF44 |
| Also listed as | EMHD (London Stock Exchange, US dollars), EHDL (Xetra, euros) |
| Category | Dividend & income |
| Type | ETF |
| Provider | Invesco |
| Tracks | FTSE Emerging High Dividend Low Volatility Index |
| Income | Distributing |
| Ongoing charge | 0.49% a year (£49 per £10,000) |
| Fund size | £223m |
| Launched | 2016 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 27/05/2016 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +7.31% | +3.51% | income reinvested |
| 3 years | +42.14% | +28.42% | income reinvested |
| 5 years | +35.37% | +5.67% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of Invesco Markets III Plc - FTSE EM High Div. Low Vol. in pounds (price only, income paid out not included): 2022 −14.2%, 2023 −2.5%, 2024 −2.0%, 2025 +12.5%; 2026 to 13/11/2026 +6.4%. Returns of Invesco Markets III Plc - FTSE EM High Div. Low Vol. in pounds (price only, income paid out not included) over the 12 months to 30/09/2026: +14.6%; to 30/09/2025: +4.8%; to 30/09/2024: +1.6%; to 30/09/2023: −1.1%; to 30/09/2022: −15.8%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2022 | -14.2% | -21.5% | Price |
| 2023 | -2.5% | -6.4% | Price |
| 2024 | -2.0% | -5.4% | Price |
| 2025 | +12.5% | +8.7% | Price |
| 2026 to 13/11/2026 | +6.4% | +3.0% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 11.64% | -7.03% |
| 3 years | 11.25% | -11.15% |
| 5 years | 13.89% | -23.81% |

## Largest fall

Volatility of Invesco Markets III Plc - FTSE EM High Div. Low Vol. in pounds, annualised from weekly returns to 13/11/2026: 11.6% over 1 year, 11.3% over 3 years, 13.9% over 5 years. Largest fall in the price of Invesco Markets III Plc - FTSE EM High Div. Low Vol. since November 2021, in pounds: −23.8% from 11/02/2022 to 11/04/2025. The lowest 12-month return of Invesco Markets III Plc - FTSE EM High Div. Low Vol. in pounds (price only, income paid out not included) since January 2021 was −16.3% (12 months to 16/12/2022); the highest was +31.1% (12 months to 10/04/2026). On 13/11/2026 the price of Invesco Markets III Plc - FTSE EM High Div. Low Vol. was 5.4% below its highest weekly close since November 2021 (09/10/2026), in pounds.

## Charges compared with similar funds

Ongoing charge of Invesco Markets III Plc - FTSE EM High Div. Low Vol. 0.49% a year. Compared on 14/11/2026, 22 of the 109 other dividend and income funds charge more, 1 the same and 86 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.49%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 12/11/2026, HDEM holds 192 positions, according to its published holdings. The largest is Fibra Uno Administracion SA de CV Series -11- at 2.05% of the fund; the ten largest make up 16.5%.

### Top holdings

Largest positions (as of 12/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Fibra Uno Administracion SA de CV Series -11- | [FUNO/11](https://fundology.uk/stock/FUNO%2F11) | 2.05% |
| 2 | Novatek Microelectronics | [3034](https://fundology.uk/stock/3034) | 1.81% |
| 3 | Petrobras - Petroleo Bras-Pr Brl Npv Pfd | — | 1.81% |
| 4 | MOBILE TELECOMMUNICATIONS CO KWd100 | — | 1.77% |
| 5 | Petroleo Brasileiro | [PETR3](https://fundology.uk/stock/PETR3) | 1.75% |
| 6 | PT Astra International | [ASII](https://fundology.uk/stock/ASII) | 1.74% |
| 7 | China Shenhua Energy | [601088](https://fundology.uk/stock/601088) | 1.49% |
| 8 | Cia Energetica Minas Ger-Prf Brl 5.0000 Pfd | — | 1.41% |
| 9 | China Shenhua Energy | [601088](https://fundology.uk/stock/601088) | 1.35% |
| 10 | Tim | [TIMS3](https://fundology.uk/stock/TIMS3) | 1.33% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By sector

As published for the fund, as of 05/11/2026.

| Sector | Weight |
|---|---|
| Financials | 26.7% |
| Energy | 18.4% |
| Industrials | 10.3% |
| Utilities | 10.0% |
| Consumer Staples | 6.8% |
| Consumer Discretionary | 6.4% |
| Communication Services | 5.9% |
| Information Technology | 4.8% |
| Other sectors | 10.8% |

### By country

As published for the fund, as of 05/11/2026.

| Country | Weight |
|---|---|
| China | 35.9% |
| Brazil | 21.5% |
| Taiwan | 7.8% |
| Saudi Arabia | 5.8% |
| Mexico | 5.4% |
| South Africa | 5.0% |
| Thailand | 4.1% |
| Indonesia | 3.2% |
| Other countries | 11.3% |

The 191 holdings on record (of 192 reported): https://fundology.uk/fund/hdem/holdings

## Questions people ask

**What is the ongoing charge of HDEM?**

The ongoing charge of HDEM is 0.49% a year — about £49 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of Invesco Markets III Plc - FTSE EM High Div. Low Vol. 0.49% a year. Compared on 14/11/2026, 22 of the 109 other dividend and income funds charge more, 1 the same and 86 less (share classes counted once).

**What does HDEM track?**

HDEM tracks the FTSE Emerging High Dividend Low Volatility Index — companies in emerging economies such as China, India, Taiwan and Brazil.

**Is HDEM accumulating or distributing?**

HDEM is distributing: income is paid out to holders as cash, usually a few times a year. It pays out quarterly.

**What is the ISIN of HDEM?**

The ISIN of HDEM is IE00BYYXBF44. An ISIN identifies one exact share class of a fund; HDEM is its ticker on the London Stock Exchange. The same share class is also listed as EMHD (London Stock Exchange, US dollars) and EHDL (Xetra, euros).

**What does HDEM hold?**

As of 12/11/2026, HDEM holds 192 positions, according to its published holdings. The largest is Fibra Uno Administracion SA de CV Series -11- at 2.05% of the fund; the ten largest make up 16.5%. Its ten largest holdings are Fibra Uno Administracion SA de CV Series -11- (2.05%), Novatek Microelectronics (1.81%), Petrobras - Petroleo Bras-Pr Brl Npv Pfd (1.81%), MOBILE TELECOMMUNICATIONS CO KWd100 (1.77%), Petroleo Brasileiro (1.75%), PT Astra International (1.74%), China Shenhua Energy (1.49%), Cia Energetica Minas Ger-Prf Brl 5.0000 Pfd (1.41%), China Shenhua Energy (1.35%) and Tim (1.33%).

**What were HDEM’s returns in each of the last five years?**

Calendar-year returns of HDEM in pounds (price only, income paid out not included): 2022 −14.2%, 2023 −2.5%, 2024 −2.0%, 2025 +12.5%; 2026 to 13/11/2026 +6.4%. Past performance is not a guide to future returns.

**How has HDEM done after inflation?**

Over the five years to 13/11/2026 HDEM’s total return was +35.4%, or +5.7% after UK CPIH inflation. Past performance is not a guide to future returns.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.