ETLI.DE vs. SPYH.DE

Last updated Jun 5, 2026

ETLI.DE (L&G Pharma Breakthrough UCITS ETF) and SPYH.DE (SPDR MSCI Europe Health Care UCITS ETF) are both Health & Biotech Equities funds - ETLI.DE tracks the Solactive Pharma Breakthrough Value while SPYH.DE tracks the MSCI Europe Health Care 20/35 Capped. Both are passively managed. Over the past 5 years, ETLI.DE returned 2.31%/yr vs 5.81%/yr for SPYH.DE. A 0.59 correlation means they provide meaningful diversification when combined. ETLI.DE charges 0.49%/yr vs 0.18%/yr for SPYH.DE.

Performance

ETLI.DE vs. SPYH.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in L&G Pharma Breakthrough UCITS ETF (ETLI.DE) and SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ETLI.DE achieves a -0.74% return, which is significantly higher than SPYH.DE's -1.97% return.

ETLI.DE

• 1D: 2.62%
• 1M: -3.54%
• YTD: -0.74%
• 6M: -2.98%
• 1Y: 21.87%
• 3Y*: 2.83%
• 5Y*: 2.31%
• 10Y*: —

SPYH.DE

• 1D: 3.34%
• 1M: 1.68%
• YTD: -1.97%
• 6M: -0.27%
• 1Y: 6.32%
• 3Y*: 2.85%
• 5Y*: 5.81%
• 10Y*: 6.16%

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

ETLI.DE vs. SPYH.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ETLI.DE L&G Pharma Breakthrough UCITS ETF	-0.74%	22.23%	0.42%	-12.64%	-2.91%	4.98%	15.37%	17.53%	-4.78%
SPYH.DE SPDR MSCI Europe Health Care UCITS ETF	-1.97%	7.82%	3.98%	7.88%	-4.55%	25.71%	-2.51%	33.07%	3.51%

Correlation

The correlation between ETLI.DE and SPYH.DE is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Feb 26, 2018	0.59

The correlation between ETLI.DE and SPYH.DE has been stable across timeframes, ranging from 0.53 to 0.59 - a consistent structural relationship.

Return for Risk

ETLI.DE vs. SPYH.DE — Risk / Return Rank

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

ETLI.DE

ETLI.DE Risk / Return Rank: 38
ETLI.DE Sharpe Ratio Rank: 33
ETLI.DE Sortino Ratio Rank: 34
ETLI.DE Omega Ratio Rank: 30
ETLI.DE Calmar Ratio Rank: 49
ETLI.DE Martin Ratio Rank: 44

SPYH.DE

SPYH.DE Risk / Return Rank: 15
SPYH.DE Sharpe Ratio Rank: 15
SPYH.DE Sortino Ratio Rank: 15
SPYH.DE Omega Ratio Rank: 15
SPYH.DE Calmar Ratio Rank: 15
SPYH.DE Martin Ratio Rank: 15

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.

ETLI.DE vs. SPYH.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L&G Pharma Breakthrough UCITS ETF (ETLI.DE) and SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE). 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.

	ETLI.DE	SPYH.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.37	+0.79
Sortino ratio: Return per unit of downside risk	1.76	0.67	+1.10
Omega ratio: Gain probability vs. loss probability	1.20	1.08	+0.12
Calmar ratio: Return relative to maximum drawdown	2.40	0.50	+1.90
Martin ratio: Return relative to average drawdown	6.79	1.10	+5.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ETLI.DE vs. SPYH.DE - Sharpe Ratio Comparison

The current ETLI.DE Sharpe Ratio is 1.16, which is higher than the SPYH.DE Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of ETLI.DE and SPYH.DE, 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

	ETLI.DE	SPYH.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	0.37	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.13	0.36	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.43	-0.20

Drawdowns

ETLI.DE vs. SPYH.DE - Drawdown Comparison

The maximum ETLI.DE drawdown since its inception was -30.83%, which is greater than SPYH.DE's maximum drawdown of -26.62%. Use the drawdown chart below to compare losses from any high point for ETLI.DE and SPYH.DE.

Drawdown Indicators

	ETLI.DE	SPYH.DE	Difference
Max Drawdown Largest peak-to-trough decline	-30.83%	-26.62%	-4.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-12.58%	+3.52%
Max Drawdown (3Y) Largest decline over 3 years	-24.43%	-26.62%	+2.19%
Max Drawdown (5Y) Largest decline over 5 years	-30.83%	-26.62%	-4.21%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.62%	—
Current Drawdown Current decline from peak	-4.86%	-10.72%	+5.86%
Average Drawdown Average peak-to-trough decline	-10.22%	-8.61%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	5.73%	-2.52%

Volatility

ETLI.DE vs. SPYH.DE - Volatility Comparison

L&G Pharma Breakthrough UCITS ETF (ETLI.DE) has a higher volatility of 6.89% compared to SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE) at 6.01%. This indicates that ETLI.DE's price experiences larger fluctuations and is considered to be riskier than SPYH.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ETLI.DE	SPYH.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.89%	6.01%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	14.09%	12.04%	+2.05%
Volatility (1Y) Calculated over the trailing 1-year period	18.72%	17.05%	+1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.22%	15.76%	+1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.91%	15.82%	+3.09%

ETLI.DE vs. SPYH.DE - Expense Ratio Comparison

ETLI.DE has a 0.49% expense ratio, which is higher than SPYH.DE's 0.18% expense ratio.

Dividends

ETLI.DE vs. SPYH.DE - Dividend Comparison

Neither ETLI.DE nor SPYH.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ETLI.DE and SPYH.DE in my portfolio?

ETLI.DE and SPYH.DE have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ETLI.DE or SPYH.DE?

On fees, SPYH.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ETLI.DE or SPYH.DE?

SPYH.DE is cheaper with a 0.18% expense ratio, compared with 0.49% for ETLI.DE.

What is the main difference between ETLI.DE and SPYH.DE?

ETLI.DE tracks Solactive Pharma Breakthrough Value, while SPYH.DE tracks MSCI Europe Health Care 20/35 Capped. They also come from different issuers: Legal & General and State Street. Their fees differ too: 0.49% for ETLI.DE and 0.18% for SPYH.DE.