BTEE.L vs. BTEK.L

Last updated Jun 5, 2026

BTEE.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Dist)) and BTEK.L (iShares Nasdaq US Biotechnology UCITS ETF) are both Health & Biotech Equities funds from iShares tracking the NASDAQ Biotechnology TR USD. Both are passively managed. Over the past 5 years, BTEE.L returned 4.70%/yr vs 4.74%/yr for BTEK.L. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.35% expense ratio.

Performance

BTEE.L vs. BTEK.L - Performance Comparison

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

Different Trading Currencies

BTEE.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 investments are quite close, with BTEE.L having a 4.58% return and BTEK.L slightly higher at 4.60%.

BTEE.L

• 1D: 3.30%
• 1M: 1.17%
• YTD: 4.58%
• 6M: 3.18%
• 1Y: 41.45%
• 3Y*: 13.12%
• 5Y*: 4.70%
• 10Y*: —

BTEK.L

• 1D: 3.61%
• 1M: 1.38%
• YTD: 4.60%
• 6M: 3.46%
• 1Y: 41.79%
• 3Y*: 13.03%
• 5Y*: 4.74%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BTEE.L vs. BTEK.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BTEE.L iShares Nasdaq US Biotechnology UCITS ETF USD (Dist)	4.58%	32.82%	-1.69%	5.84%	-11.88%	-0.57%	27.55%	25.56%	-14.84%
BTEK.L iShares Nasdaq US Biotechnology UCITS ETF	4.60%	33.15%	-1.98%	5.62%	-12.08%	-0.02%	26.88%	26.51%	-14.85%

Correlation

The correlation between BTEE.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	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Mar 9, 2018	0.96

The correlation between BTEE.L and BTEK.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

BTEE.L vs. BTEK.L - Sectors Allocation Comparison

Sectors	BTEE.L	BTEK.L
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BTEE.L vs. BTEK.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BTEE.L

BTEE.L Risk / Return Rank: 72
BTEE.L Sharpe Ratio Rank: 64
BTEE.L Sortino Ratio Rank: 66
BTEE.L Omega Ratio Rank: 57
BTEE.L Calmar Ratio Rank: 89
BTEE.L Martin Ratio Rank: 83

BTEK.L

BTEK.L Risk / Return Rank: 76
BTEK.L Sharpe Ratio Rank: 70
BTEK.L Sortino Ratio Rank: 70
BTEK.L Omega Ratio Rank: 63
BTEK.L Calmar Ratio Rank: 92
BTEK.L Martin Ratio Rank: 85

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.

BTEE.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 (Dist) (BTEE.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.

	BTEE.L	BTEK.L	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.12	-0.01
Sortino ratio: Return per unit of downside risk	3.01	3.03	-0.02
Omega ratio: Gain probability vs. loss probability	1.35	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	5.41	5.25	+0.15
Martin ratio: Return relative to average drawdown	16.70	16.15	+0.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BTEE.L vs. BTEK.L - Sharpe Ratio Comparison

The current BTEE.L Sharpe Ratio is 2.10, which is comparable to the BTEK.L Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of BTEE.L and BTEK.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.

Sharpe Ratios by Period

	BTEE.L	BTEK.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.12	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.22	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.31	-0.01

Drawdowns

BTEE.L vs. BTEK.L - Drawdown Comparison

The maximum BTEE.L drawdown since its inception was -38.29%, roughly equal to the maximum BTEK.L drawdown of -38.25%. Use the drawdown chart below to compare losses from any high point for BTEE.L and BTEK.L.

Drawdown Indicators

	BTEE.L	BTEK.L	Difference
Max Drawdown Largest peak-to-trough decline	-38.29%	-38.25%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.63%	-7.92%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-26.82%	-26.90%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-38.29%	-38.25%	-0.04%
Current Drawdown Current decline from peak	-2.58%	-2.66%	+0.08%
Average Drawdown Average peak-to-trough decline	-13.56%	-13.38%	-0.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.47%	2.58%	-0.11%

Volatility

BTEE.L vs. BTEK.L - Volatility Comparison

iShares Nasdaq US Biotechnology UCITS ETF USD (Dist) (BTEE.L) and iShares Nasdaq US Biotechnology UCITS ETF (BTEK.L) have volatilities of 6.84% and 6.88%, 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.

Volatility by Period

	BTEE.L	BTEK.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.84%	6.88%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	15.33%	15.45%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	19.67%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.14%	21.09%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.50%	22.34%	+0.16%

BTEE.L vs. BTEK.L - Expense Ratio Comparison

Both BTEE.L and BTEK.L have an expense ratio of 0.35%.

Dividends

BTEE.L vs. BTEK.L - Dividend Comparison

BTEE.L's dividend yield for the trailing twelve months is around 0.36%, while BTEK.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BTEE.L iShares Nasdaq US Biotechnology UCITS ETF USD (Dist)	0.36%	0.37%	0.46%	0.39%	0.44%	0.25%	0.17%	0.14%	0.07%
BTEK.L iShares Nasdaq US Biotechnology UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BTEE.L and BTEK.L in my portfolio?

With a correlation of 0.97, BTEE.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.

Which ETF is better, BTEE.L or BTEK.L?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BTEE.L or BTEK.L?

BTEE.L and BTEK.L have the same expense ratio: 0.35% per year.

What is the main difference between BTEE.L and BTEK.L?

Both ETFs track NASDAQ Biotechnology TR USD.