2B78.DE vs. NBTK.DE
2B78.DE (iShares Healthcare Innovation UCITS ETF) and NBTK.DE (Invesco Nasdaq Biotech UCITS ETF) are both Health & Biotech Equities funds - 2B78.DE tracks the iSTOXX® FactSet Breakthrough Healthcare while NBTK.DE tracks the Nasdaq Biotechnology. Both are passively managed. Over the past 5 years, 2B78.DE returned -1.74%/yr vs 5.63%/yr for NBTK.DE. Their correlation of 0.86 suggests significant overlap in exposure. Both charge a 0.40% expense ratio.
Performance
2B78.DE vs. NBTK.DE - Performance Comparison
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Returns By Period
In the year-to-date period, 2B78.DE achieves a -2.07% return, which is significantly lower than NBTK.DE's 4.27% return.
2B78.DE
- 1D
- 0.41%
- 1M
- 1.41%
- YTD
- -2.07%
- 6M
- -3.15%
- 1Y
- 14.42%
- 3Y*
- 2.27%
- 5Y*
- -1.74%
- 10Y*
- —
NBTK.DE
- 1D
- 2.92%
- 1M
- 0.38%
- YTD
- 4.27%
- 6M
- 3.76%
- 1Y
- 39.20%
- 3Y*
- 9.94%
- 5Y*
- 5.63%
- 10Y*
- —
2B78.DE vs. NBTK.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
2B78.DE iShares Healthcare Innovation UCITS ETF | -2.07% | 5.50% | 7.24% | -0.29% | -19.03% | 1.15% | 38.75% | 13.38% |
NBTK.DE Invesco Nasdaq Biotech UCITS ETF | 4.27% | 18.60% | 4.57% | 2.51% | -6.11% | 7.46% | 14.59% | 17.24% |
Correlation
The correlation between 2B78.DE and NBTK.DE is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2019 | 0.86 |
The correlation between 2B78.DE and NBTK.DE has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
2B78.DE vs. NBTK.DE — Risk / Return Rank
2B78.DE
NBTK.DE
2B78.DE vs. NBTK.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Healthcare Innovation UCITS ETF (2B78.DE) and Invesco Nasdaq Biotech UCITS ETF (NBTK.DE). 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.
| 2B78.DE | NBTK.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.34 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 6.16 | -4.92 |
| Martin ratioReturn relative to average drawdown | 3.07 | 17.06 | -13.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| 2B78.DE | NBTK.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.95 | 2.03 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.27 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.42 | -0.11 |
Drawdowns
2B78.DE vs. NBTK.DE - Drawdown Comparison
The maximum 2B78.DE drawdown since its inception was -38.58%, which is greater than NBTK.DE's maximum drawdown of -30.99%. Use the drawdown chart below to compare losses from any high point for 2B78.DE and NBTK.DE.
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Drawdown Indicators
| 2B78.DE | NBTK.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.58% | -30.99% | -7.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.05% | -6.24% | -5.81% |
Max Drawdown (3Y)Largest decline over 3 years | -25.32% | -29.35% | +4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -36.99% | -30.99% | -6.00% |
Current DrawdownCurrent decline from peak | -19.03% | -1.44% | -17.59% |
Average DrawdownAverage peak-to-trough decline | -14.36% | -10.62% | -3.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 2.26% | +2.60% |
Volatility
2B78.DE vs. NBTK.DE - Volatility Comparison
The current volatility for iShares Healthcare Innovation UCITS ETF (2B78.DE) is 3.74%, while Invesco Nasdaq Biotech UCITS ETF (NBTK.DE) has a volatility of 6.41%. This indicates that 2B78.DE experiences smaller price fluctuations and is considered to be less risky than NBTK.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| 2B78.DE | NBTK.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 6.41% | -2.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.97% | 14.11% | -3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.67% | 19.00% | -3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.91% | 20.30% | -2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.79% | 22.05% | -3.26% |
2B78.DE vs. NBTK.DE - Expense Ratio Comparison
Both 2B78.DE and NBTK.DE have an expense ratio of 0.40%.
Dividends
2B78.DE vs. NBTK.DE - Dividend Comparison
Neither 2B78.DE nor NBTK.DE has paid dividends to shareholders.
Frequently Asked Questions
2B78.DE and NBTK.DE have a correlation of 0.82, 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 0.40% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
2B78.DE and NBTK.DE have the same expense ratio: 0.40% per year.
2B78.DE tracks iSTOXX® FactSet Breakthrough Healthcare, while NBTK.DE tracks Nasdaq Biotechnology. They also come from different issuers: iShares and Invesco.
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