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BTEC.L vs. AGED.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BTEC.L vs. AGED.L

Last updated Jul 16, 2026
Documentation

BTEC.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)) and AGED.L (iShares Ageing Population UCITS ETF USD (Acc)) are both exchange-traded funds - BTEC.L is a Health & Biotech Equities fund tracking the NASDAQ Biotechnology NET Index, while AGED.L is a Global Equities fund tracking the Stoxx Global Ageing Population Net USD Index. Both are passively managed. Over the past 5 years, BTEC.L returned 5.87%/yr vs 6.71%/yr for AGED.L. A 0.69 correlation means they provide meaningful diversification when combined. BTEC.L charges 0.35%/yr vs 0.40%/yr for AGED.L.

Performance

BTEC.L vs. AGED.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) and iShares Ageing Population UCITS ETF USD (Acc) (AGED.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BTEC.L achieves a 15.22% return, which is significantly higher than AGED.L's 11.02% return.

BTEC.L

1D
0.68%
1M
9.55%
6M
13.18%
YTD
15.22%
1Y
50.31%
3Y*
16.99%
5Y*
5.87%
10Y*
—

AGED.L

1D
-0.14%
1M
5.51%
6M
9.54%
YTD
11.02%
1Y
25.89%
3Y*
15.70%
5Y*
6.71%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BTEC.L vs. AGED.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BTEC.L
iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)		15.22%32.96%-2.04%6.22%-11.92%-0.49%27.40%25.57%-11.22%-3.31%
AGED.L
iShares Ageing Population UCITS ETF USD (Acc)		11.02%26.75%7.86%9.03%-14.29%4.61%13.29%19.47%-13.28%3.39%

Correlation

The correlation between BTEC.L and AGED.L is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.64

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

0.66

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

0.70

Correlation (All Time)
Calculated using the full available price history since Oct 19, 2017

0.69

The correlation between BTEC.L and AGED.L has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

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iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)

iShares Ageing Population UCITS ETF USD (Acc)

Return for Risk

BTEC.L vs. AGED.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BTEC.L
BTEC.L Risk / Return Rank: 9090
Overall Rank
BTEC.L Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
BTEC.L Sortino Ratio Rank: 8989
Sortino Ratio Rank
BTEC.L Omega Ratio Rank: 8282
Omega Ratio Rank
BTEC.L Calmar Ratio Rank: 9595
Calmar Ratio Rank
BTEC.L Martin Ratio Rank: 9393
Martin Ratio Rank
AGED.L
AGED.L Risk / Return Rank: 7070
Overall Rank
AGED.L Sharpe Ratio Rank: 6565
Sharpe Ratio Rank
AGED.L Sortino Ratio Rank: 6969
Sortino Ratio Rank
AGED.L Omega Ratio Rank: 6464
Omega Ratio Rank
AGED.L Calmar Ratio Rank: 7676
Calmar Ratio Rank
AGED.L Martin Ratio Rank: 7777
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.

BTEC.L vs. AGED.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) and iShares Ageing Population UCITS ETF USD (Acc) (AGED.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.

BTEC.LAGED.LDifference
Sharpe ratioReturn per unit of total volatility
2.42
1.71

+0.71

Sortino ratioReturn per unit of downside risk
3.35
2.51

+0.84

Omega ratioGain probability vs. loss probability

1.39

1.31

+0.08

Calmar ratioReturn relative to maximum drawdown

6.22

3.12

+3.10

Martin ratioReturn relative to average drawdown

19.15

11.36

+7.79

BTEC.L vs. AGED.L - Sharpe Ratio Comparison

The current BTEC.L Sharpe Ratio is 2.42, which is higher than the AGED.L Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of BTEC.L and AGED.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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Drawdowns

BTEC.L vs. AGED.L - Drawdown Comparison

The maximum BTEC.L drawdown since its inception was -38.42%, roughly equal to the maximum AGED.L drawdown of -40.12%. Use the drawdown chart below to compare losses from any high point for BTEC.L and AGED.L.

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Drawdown Indicators

BTEC.LAGED.LDifference

Max Drawdown

Largest peak-to-trough decline

-38.42%

-40.12%

+1.70%

Max Drawdown (1Y)

Largest decline over 1 year

-7.94%

-8.40%

+0.46%

Max Drawdown (3Y)

Largest decline over 3 years

-26.74%

-16.38%

-10.36%

Max Drawdown (5Y)

Largest decline over 5 years

-38.42%

-27.68%

-10.74%

Current Drawdown

Current decline from peak

-3.87%

-1.16%

-2.71%

Average Drawdown

Average peak-to-trough decline

-13.22%

-8.54%

-4.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.58%

2.31%

+0.27%

Volatility

BTEC.L vs. AGED.L - Volatility Comparison

iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) has a higher volatility of 5.91% compared to iShares Ageing Population UCITS ETF USD (Acc) (AGED.L) at 3.77%. This indicates that BTEC.L's price experiences larger fluctuations and is considered to be riskier than AGED.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BTEC.LAGED.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.91%

3.77%

+2.14%

Volatility (6M)

Calculated over the trailing 6-month period

15.67%

12.23%

+3.44%

Volatility (1Y)

Calculated over the trailing 1-year period

20.42%

15.33%

+5.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.39%

17.78%

+3.61%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.37%

17.74%

+4.63%

BTEC.L vs. AGED.L - Expense Ratio Comparison

BTEC.L has a 0.35% expense ratio, which is lower than AGED.L's 0.40% expense ratio.

Dividends

BTEC.L vs. AGED.L - Dividend Comparison

Neither BTEC.L nor AGED.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

BTEC.L and AGED.L have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, BTEC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

BTEC.L is cheaper with a 0.35% expense ratio, compared with 0.40% for AGED.L.

BTEC.L is categorized as Health & Biotech Equities, while AGED.L is Global Equities. BTEC.L tracks NASDAQ Biotechnology NET Index, while AGED.L tracks Stoxx Global Ageing Population Net USD Index. Their fees differ too: 0.35% for BTEC.L and 0.40% for AGED.L.

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