BTEK.L vs. BTEC.L
BTEK.L (iShares Nasdaq US Biotechnology UCITS ETF) and BTEC.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)) are both Health & Biotech Equities funds from iShares - BTEK.L tracks the NASDAQ Biotechnology TR USD while BTEC.L tracks the NASDAQ Biotechnology NET Index. Both are passively managed. Over the past 5 years, BTEK.L returned 6.26%/yr vs 6.09%/yr for BTEC.L. Their correlation of 0.93 suggests significant overlap in exposure. Both charge a 0.35% expense ratio.
Performance
BTEK.L vs. BTEC.L - Performance Comparison
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Different Trading Currencies
BTEK.L is traded in GBP, while BTEC.L is traded in USD. To make them comparable, the BTEC.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with BTEK.L having a 14.42% return and BTEC.L slightly lower at 13.97%.
BTEK.L
- 1D
- -0.14%
- 1M
- 8.62%
- 6M
- 12.42%
- YTD
- 14.42%
- 1Y
- 48.32%
- 3Y*
- 16.28%
- 5Y*
- 6.26%
- 10Y*
- —
BTEC.L
- 1D
- 0.00%
- 1M
- 7.86%
- 6M
- 11.73%
- YTD
- 13.97%
- 1Y
- 47.71%
- 3Y*
- 15.40%
- 5Y*
- 6.09%
- 10Y*
- —
BTEK.L vs. BTEC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BTEK.L iShares Nasdaq US Biotechnology UCITS ETF | 14.42% | 23.65% | -0.20% | 0.30% | -1.56% | 0.90% | 23.11% | 21.63% | -5.80% | -28.70% |
BTEC.L iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) | 13.97% | 23.49% | -0.33% | 0.91% | -1.44% | 0.45% | 23.66% | 20.79% | -5.96% | -5.88% |
Correlation
The correlation between BTEK.L and BTEC.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 BTEK.L and BTEC.L has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
BTEK.L vs. BTEC.L — Risk / Return Rank
BTEK.L
BTEC.L
BTEK.L vs. BTEC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq US Biotechnology UCITS ETF (BTEK.L) and iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.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.
| BTEK.L | BTEC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 6.98 | 6.45 | +0.53 |
| Martin ratioReturn relative to average drawdown | 19.25 | 18.57 | +0.68 |
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Drawdowns
BTEK.L vs. BTEC.L - Drawdown Comparison
The maximum BTEK.L drawdown since its inception was -36.03%, which is greater than BTEC.L's maximum drawdown of -31.02%. Use the drawdown chart below to compare losses from any high point for BTEK.L and BTEC.L.
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Drawdown Indicators
| BTEK.L | BTEC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.03% | -31.02% | -5.01% |
Max Drawdown (1Y)Largest decline over 1 year | -6.89% | -7.31% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -26.39% | -26.37% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -30.86% | -31.02% | +0.16% |
Current DrawdownCurrent decline from peak | -5.23% | -5.72% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -14.66% | -9.99% | -4.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 2.54% | -0.04% |
Volatility
BTEK.L vs. BTEC.L - Volatility Comparison
iShares Nasdaq US Biotechnology UCITS ETF (BTEK.L) and iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) have volatilities of 6.15% and 5.91%, 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
| BTEK.L | BTEC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 5.91% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 14.68% | 15.31% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.59% | 20.42% | -0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.99% | 20.98% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.97% | 22.30% | +2.67% |
BTEK.L vs. BTEC.L - Expense Ratio Comparison
Both BTEK.L and BTEC.L have an expense ratio of 0.35%.
Dividends
BTEK.L vs. BTEC.L - Dividend Comparison
Neither BTEK.L nor BTEC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, BTEK.L and BTEC.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.
BTEK.L and BTEC.L have the same expense ratio: 0.35% per year.
BTEK.L tracks NASDAQ Biotechnology TR USD, while BTEC.L tracks NASDAQ Biotechnology NET Index.
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