EDOG.L vs. HEAW.L

Last updated Jun 5, 2026

EDOG.L (Global X Telemedicine & Digital Health UCITS ETF Dist GBP) and HEAW.L (SPDR MSCI World Health Care UCITS ETF) are both Health & Biotech Equities funds tracking the MSCI World/Health Care NR USD, from Global X and State Street respectively. Both are passively managed. Over the past 3 years, EDOG.L returned -4.96%/yr vs 2.71%/yr for HEAW.L. At a 0.44 correlation, their price movements are largely independent. EDOG.L charges 0.68%/yr vs 0.30%/yr for HEAW.L.

Performance

EDOG.L vs. HEAW.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Global X Telemedicine & Digital Health UCITS ETF Dist GBP (EDOG.L) and SPDR MSCI World Health Care UCITS ETF (HEAW.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EDOG.L achieves a -1.61% return, which is significantly higher than HEAW.L's -2.73% return.

EDOG.L

• 1D: 4.86%
• 1M: 9.25%
• YTD: -1.61%
• 6M: -6.38%
• 1Y: 3.43%
• 3Y*: -4.96%
• 5Y*: -6.67%
• 10Y*: —

HEAW.L

• 1D: 3.01%
• 1M: 4.33%
• YTD: -2.73%
• 6M: -2.25%
• 1Y: 12.68%
• 3Y*: 2.71%
• 5Y*: —
• 10Y*: —

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

EDOG.L vs. HEAW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
EDOG.L Global X Telemedicine & Digital Health UCITS ETF Dist GBP	-1.61%	1.72%	-1.82%	-15.83%	-1.93%
HEAW.L SPDR MSCI World Health Care UCITS ETF	-2.73%	7.46%	2.52%	-2.05%	5.82%

Correlation

The correlation between EDOG.L and HEAW.L is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022	0.44

Return for Risk

EDOG.L vs. HEAW.L — Risk / Return Rank

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

EDOG.L

EDOG.L Risk / Return Rank: 11
EDOG.L Sharpe Ratio Rank: 12
EDOG.L Sortino Ratio Rank: 12
EDOG.L Omega Ratio Rank: 11
EDOG.L Calmar Ratio Rank: 11
EDOG.L Martin Ratio Rank: 11

HEAW.L

HEAW.L Risk / Return Rank: 25
HEAW.L Sharpe Ratio Rank: 27
HEAW.L Sortino Ratio Rank: 27
HEAW.L Omega Ratio Rank: 25
HEAW.L Calmar Ratio Rank: 25
HEAW.L Martin Ratio Rank: 24

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.

EDOG.L vs. HEAW.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Telemedicine & Digital Health UCITS ETF Dist GBP (EDOG.L) and SPDR MSCI World Health Care UCITS ETF (HEAW.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.

	EDOG.L	HEAW.L	Difference
Sharpe ratio: Return per unit of total volatility	0.17	0.92	-0.75
Sortino ratio: Return per unit of downside risk	0.39	1.45	-1.07
Omega ratio: Gain probability vs. loss probability	1.04	1.17	-0.12
Calmar ratio: Return relative to maximum drawdown	0.15	1.18	-1.03
Martin ratio: Return relative to average drawdown	0.31	3.10	-2.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDOG.L vs. HEAW.L - Sharpe Ratio Comparison

The current EDOG.L Sharpe Ratio is 0.17, which is lower than the HEAW.L Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of EDOG.L and HEAW.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

	EDOG.L	HEAW.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.17	0.92	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.30	0.20	-0.50

Drawdowns

EDOG.L vs. HEAW.L - Drawdown Comparison

The maximum EDOG.L drawdown since its inception was -53.28%, which is greater than HEAW.L's maximum drawdown of -18.85%. Use the drawdown chart below to compare losses from any high point for EDOG.L and HEAW.L.

Drawdown Indicators

	EDOG.L	HEAW.L	Difference
Max Drawdown Largest peak-to-trough decline	-53.28%	-18.85%	-34.43%
Max Drawdown (1Y) Largest decline over 1 year	-22.26%	-10.71%	-11.55%
Max Drawdown (3Y) Largest decline over 3 years	-29.76%	-18.85%	-10.91%
Max Drawdown (5Y) Largest decline over 5 years	-45.68%	—	—
Current Drawdown Current decline from peak	-43.82%	-6.00%	-37.82%
Average Drawdown Average peak-to-trough decline	-37.00%	-5.60%	-31.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.90%	4.08%	+6.82%

Volatility

EDOG.L vs. HEAW.L - Volatility Comparison

Global X Telemedicine & Digital Health UCITS ETF Dist GBP (EDOG.L) has a higher volatility of 6.44% compared to SPDR MSCI World Health Care UCITS ETF (HEAW.L) at 5.19%. This indicates that EDOG.L's price experiences larger fluctuations and is considered to be riskier than HEAW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EDOG.L	HEAW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	5.19%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	14.33%	9.96%	+4.37%
Volatility (1Y) Calculated over the trailing 1-year period	20.28%	13.70%	+6.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.14%	13.11%	+12.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.25%	13.11%	+12.14%

EDOG.L vs. HEAW.L - Expense Ratio Comparison

EDOG.L has a 0.68% expense ratio, which is higher than HEAW.L's 0.30% expense ratio.

Dividends

EDOG.L vs. HEAW.L - Dividend Comparison

Neither EDOG.L nor HEAW.L has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
EDOG.L Global X Telemedicine & Digital Health UCITS ETF Dist GBP	0.00%	4.09%	0.00%	0.00%	13.81%
HEAW.L SPDR MSCI World Health Care UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EDOG.L and HEAW.L in my portfolio?

EDOG.L and HEAW.L have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EDOG.L or HEAW.L?

On fees, HEAW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EDOG.L or HEAW.L?

HEAW.L is cheaper with a 0.30% expense ratio, compared with 0.68% for EDOG.L.

What is the main difference between EDOG.L and HEAW.L?

Both ETFs track MSCI World/Health Care NR USD. They also come from different issuers: Global X and State Street. Their fees differ too: 0.68% for EDOG.L and 0.30% for HEAW.L.