GNOG.L vs. WHEA.L
GNOG.L (Global X Genomics & Biotechnology UCITS ETF) and WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) are both Health & Biotech Equities funds - GNOG.L tracks the MSCI World/Health Care NR USD while WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF. Both are passively managed. Over the past 3 years, GNOG.L returned 3.96%/yr vs 5.64%/yr for WHEA.L. At a 0.46 correlation, their price movements are largely independent. GNOG.L charges 0.50%/yr vs 0.30%/yr for WHEA.L.
Performance
GNOG.L vs. WHEA.L - Performance Comparison
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Different Trading Currencies
GNOG.L is traded in GBP, while WHEA.L is traded in USD. To make them comparable, the WHEA.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, GNOG.L achieves a 21.62% return, which is significantly higher than WHEA.L's 0.55% return.
GNOG.L
- 1D
- -0.67%
- 1M
- 11.16%
- 6M
- 15.16%
- YTD
- 21.62%
- 1Y
- 61.62%
- 3Y*
- 3.96%
- 5Y*
- —
- 10Y*
- —
WHEA.L
- 1D
- 0.00%
- 1M
- 2.46%
- 6M
- -1.37%
- YTD
- 0.55%
- 1Y
- 16.04%
- 3Y*
- 5.64%
- 5Y*
- 4.69%
- 10Y*
- 7.87%
GNOG.L vs. WHEA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
GNOG.L Global X Genomics & Biotechnology UCITS ETF | 21.62% | 12.01% | -17.02% | -11.28% | -29.74% | -32.17% |
WHEA.L State Street SPDR MSCI World Health Care UCITS ETF | 0.55% | 7.03% | 2.81% | -1.63% | 5.68% | 4.19% |
Correlation
The correlation between GNOG.L and WHEA.L is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.46 |
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Return for Risk
GNOG.L vs. WHEA.L — Risk / Return Rank
GNOG.L
WHEA.L
GNOG.L vs. WHEA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Genomics & Biotechnology UCITS ETF (GNOG.L) and State Street SPDR MSCI World Health Care UCITS ETF (WHEA.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.
| GNOG.L | WHEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.18 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.58 | 1.46 | +2.12 |
| Martin ratioReturn relative to average drawdown | 9.03 | 3.75 | +5.28 |
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Drawdowns
GNOG.L vs. WHEA.L - Drawdown Comparison
The maximum GNOG.L drawdown since its inception was -75.79%, which is greater than WHEA.L's maximum drawdown of -19.01%. Use the drawdown chart below to compare losses from any high point for GNOG.L and WHEA.L.
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Drawdown Indicators
| GNOG.L | WHEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.79% | -19.01% | -56.78% |
Max Drawdown (1Y)Largest decline over 1 year | -17.11% | -10.53% | -6.58% |
Max Drawdown (3Y)Largest decline over 3 years | -45.79% | -19.01% | -26.78% |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.01% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.01% | — |
Current DrawdownCurrent decline from peak | -53.05% | -4.94% | -48.11% |
Average DrawdownAverage peak-to-trough decline | -58.21% | -4.30% | -53.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.81% | 4.12% | +2.69% |
Volatility
GNOG.L vs. WHEA.L - Volatility Comparison
Global X Genomics & Biotechnology UCITS ETF (GNOG.L) has a higher volatility of 8.33% compared to State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) at 5.81%. This indicates that GNOG.L's price experiences larger fluctuations and is considered to be riskier than WHEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GNOG.L | WHEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.33% | 5.81% | +2.52% |
Volatility (6M)Calculated over the trailing 6-month period | 20.29% | 11.66% | +8.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.06% | 15.27% | +12.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.66% | 14.10% | +21.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.66% | 15.16% | +20.50% |
GNOG.L vs. WHEA.L - Expense Ratio Comparison
GNOG.L has a 0.50% expense ratio, which is higher than WHEA.L's 0.30% expense ratio.
Dividends
GNOG.L vs. WHEA.L - Dividend Comparison
Neither GNOG.L nor WHEA.L has paid dividends to shareholders.
Frequently Asked Questions
GNOG.L and WHEA.L have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WHEA.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WHEA.L is cheaper with a 0.30% expense ratio, compared with 0.50% for GNOG.L.
GNOG.L tracks MSCI World/Health Care NR USD, while WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF. They also come from different issuers: Global X and State Street. Their fees differ too: 0.50% for GNOG.L and 0.30% for WHEA.L.
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