ESIH.L vs. HEAW.L
ESIH.L (iShares MSCI Europe Health Care Sector UCITS ETF) 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 iShares and State Street respectively. Both are passively managed. Over the past 3 years, ESIH.L returned 2.83%/yr vs 2.71%/yr for HEAW.L. A 0.74 correlation means they provide meaningful diversification when combined. ESIH.L charges 0.18%/yr vs 0.30%/yr for HEAW.L.
Performance
ESIH.L vs. HEAW.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ESIH.L having a -2.72% return and HEAW.L slightly lower at -2.73%.
ESIH.L
- 1D
- 3.06%
- 1M
- 1.79%
- YTD
- -2.72%
- 6M
- -1.50%
- 1Y
- 8.89%
- 3Y*
- 2.83%
- 5Y*
- 5.89%
- 10Y*
- —
HEAW.L
- 1D
- 3.01%
- 1M
- 4.33%
- YTD
- -2.73%
- 6M
- -2.25%
- 1Y
- 12.68%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
ESIH.L vs. HEAW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ESIH.L iShares MSCI Europe Health Care Sector UCITS ETF | -2.72% | 12.76% | -0.46% | 5.44% | -1.38% |
HEAW.L SPDR MSCI World Health Care UCITS ETF | -2.73% | 7.46% | 2.52% | -2.05% | 5.82% |
Correlation
The correlation between ESIH.L and HEAW.L is 0.76, 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 | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.74 |
The correlation between ESIH.L and HEAW.L has been stable across timeframes, ranging from 0.73 to 0.76 - a consistent structural relationship.
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Return for Risk
ESIH.L vs. HEAW.L — Risk / Return Rank
ESIH.L
HEAW.L
ESIH.L vs. HEAW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Europe Health Care Sector UCITS ETF (ESIH.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.
| ESIH.L | HEAW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.17 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 1.18 | -0.54 |
| Martin ratioReturn relative to average drawdown | 1.54 | 3.10 | -1.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ESIH.L | HEAW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.53 | 0.92 | -0.40 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.20 | +0.20 |
Drawdowns
ESIH.L vs. HEAW.L - Drawdown Comparison
The maximum ESIH.L drawdown since its inception was -24.44%, 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 ESIH.L and HEAW.L.
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Drawdown Indicators
| ESIH.L | HEAW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.44% | -18.85% | -5.59% |
Max Drawdown (1Y)Largest decline over 1 year | -13.81% | -10.71% | -3.10% |
Max Drawdown (3Y)Largest decline over 3 years | -24.44% | -18.85% | -5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -24.44% | — | — |
Current DrawdownCurrent decline from peak | -10.94% | -6.00% | -4.94% |
Average DrawdownAverage peak-to-trough decline | -6.76% | -5.60% | -1.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.77% | 4.08% | +1.69% |
Volatility
ESIH.L vs. HEAW.L - Volatility Comparison
iShares MSCI Europe Health Care Sector UCITS ETF (ESIH.L) has a higher volatility of 5.50% compared to SPDR MSCI World Health Care UCITS ETF (HEAW.L) at 5.19%. This indicates that ESIH.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.
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Volatility by Period
| ESIH.L | HEAW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 5.19% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 12.21% | 9.96% | +2.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.83% | 13.70% | +3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.50% | 13.11% | +2.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.36% | 13.11% | +2.25% |
ESIH.L vs. HEAW.L - Expense Ratio Comparison
ESIH.L has a 0.18% expense ratio, which is lower than HEAW.L's 0.30% expense ratio.
Dividends
ESIH.L vs. HEAW.L - Dividend Comparison
Neither ESIH.L nor HEAW.L has paid dividends to shareholders.
Frequently Asked Questions
ESIH.L and HEAW.L have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ESIH.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ESIH.L is cheaper with a 0.18% expense ratio, compared with 0.30% for HEAW.L.
Both ETFs track MSCI World/Health Care NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.18% for ESIH.L and 0.30% for HEAW.L.
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