They both have a peak around the 9-10KHz area, but the AD has more of an additional peak around the 5.5-6KHz area in the mid-treble. So, the HE-500 is smoother up top, though its treble does start to elevate around 6 or 7KHz, but to a lesser extent and it's not so much of a separate peak like with the AD. The AD I have on hand requires more equalization to reach a smoother, less bright sound than the HE-500 does. Keep in mind Dan's QC standards could produce some AD's that are smoother and some that are not, but I can't speak for any specific unit (for all I know, the one I have on hand could be a smoother unit).
I want to stress that it's really not a big deal. I generally EQ the treble area on any T50RP-based headphone, and you can see I have to EQ the HE-500 as well. But, yes, the AD I have on hand hear is definitely brighter and harsher than the HE-500 overall.
I also want to re-emphasize that after EQ, I was really enjoying the AD. It was a noticeable step up from the MD, and they respond well to EQ.