BTEC.L vs. BTEK.L
BTEC.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)) and BTEK.L (iShares Nasdaq US Biotechnology UCITS ETF) are both Health & Biotech Equities funds from iShares - BTEC.L tracks the NASDAQ Biotechnology NET Index while BTEK.L tracks the NASDAQ Biotechnology TR USD. Both are passively managed. Over the past 5 years, BTEC.L returned 5.87%/yr vs 5.91%/yr for BTEK.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.
Performance
BTEC.L vs. BTEK.L - Performance Comparison
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Different Trading Currencies
BTEC.L is traded in USD, while BTEK.L is traded in GBP. To make them comparable, the BTEK.L values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with BTEC.L having a 15.22% return and BTEK.L slightly lower at 15.09%.
BTEC.L
- 1D
- 0.68%
- 1M
- 9.55%
- 6M
- 13.18%
- YTD
- 15.22%
- 1Y
- 50.31%
- 3Y*
- 16.99%
- 5Y*
- 5.87%
- 10Y*
- —
BTEK.L
- 1D
- 1.00%
- 1M
- 9.60%
- 6M
- 13.21%
- YTD
- 15.09%
- 1Y
- 50.03%
- 3Y*
- 17.58%
- 5Y*
- 5.91%
- 10Y*
- —
BTEC.L vs. BTEK.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
BTEK.L iShares Nasdaq US Biotechnology UCITS ETF | 15.09% | 32.98% | -1.86% | 5.59% | -12.08% | -0.02% | 26.89% | 26.51% | -11.14% | -26.81% |
Correlation
The correlation between BTEC.L and BTEK.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.93 |
The correlation between BTEC.L and BTEK.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
BTEC.L vs. BTEK.L — Risk / Return Rank
BTEC.L
BTEK.L
BTEC.L vs. BTEK.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 Nasdaq US Biotechnology UCITS ETF (BTEK.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.L | BTEK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 6.22 | 6.38 | -0.16 |
| Martin ratioReturn relative to average drawdown | 19.15 | 18.62 | +0.52 |
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Drawdowns
BTEC.L vs. BTEK.L - Drawdown Comparison
The maximum BTEC.L drawdown since its inception was -38.42%, roughly equal to the maximum BTEK.L drawdown of -38.25%. Use the drawdown chart below to compare losses from any high point for BTEC.L and BTEK.L.
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Drawdown Indicators
| BTEC.L | BTEK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.42% | -38.25% | -0.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.94% | -7.81% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -26.74% | -26.89% | +0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -38.42% | -38.25% | -0.17% |
Current DrawdownCurrent decline from peak | -3.87% | -4.00% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -13.22% | -18.08% | +4.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.68% | -0.10% |
Volatility
BTEC.L vs. BTEK.L - Volatility Comparison
iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) and iShares Nasdaq US Biotechnology UCITS ETF (BTEK.L) have volatilities of 5.91% and 5.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BTEC.L | BTEK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.91% | 5.94% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 15.67% | 15.62% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 20.15% | +0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.39% | 24.78% | -3.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 25.60% | -3.23% |
BTEC.L vs. BTEK.L - Expense Ratio Comparison
Both BTEC.L and BTEK.L have an expense ratio of 0.35%.
Dividends
BTEC.L vs. BTEK.L - Dividend Comparison
Neither BTEC.L nor BTEK.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, BTEC.L and BTEK.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
BTEC.L and BTEK.L have the same expense ratio: 0.35% per year.
BTEC.L tracks NASDAQ Biotechnology NET Index, while BTEK.L tracks NASDAQ Biotechnology TR USD.
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