HEAE.L vs. ISX5.L
HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) and ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) are both exchange-traded funds - HEAE.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR. Both are passively managed. Over the past 10 years, HEAE.L returned 5.38%/yr vs 13.63%/yr for ISX5.L. A 0.55 correlation means they provide meaningful diversification when combined. HEAE.L charges 0.18%/yr vs 0.00%/yr for ISX5.L.
Performance
HEAE.L vs. ISX5.L - Performance Comparison
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Different Trading Currencies
HEAE.L is traded in GBP, while ISX5.L is traded in USD. To make them comparable, the ISX5.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HEAE.L achieves a -1.49% return, which is significantly lower than ISX5.L's 7.79% return. Over the past 10 years, HEAE.L has underperformed ISX5.L with an annualized return of 5.38%, while ISX5.L has yielded a comparatively higher 13.63% annualized return.
HEAE.L
- 1D
- 0.00%
- 1M
- 1.12%
- YTD
- -1.49%
- 6M
- -0.50%
- 1Y
- 7.43%
- 3Y*
- 3.82%
- 5Y*
- 2.06%
- 10Y*
- 5.38%
ISX5.L
- 1D
- 2.55%
- 1M
- 3.57%
- YTD
- 7.79%
- 6M
- 8.29%
- 1Y
- 21.33%
- 3Y*
- 15.93%
- 5Y*
- 11.77%
- 10Y*
- 13.63%
HEAE.L vs. ISX5.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEAE.L SPDR MSCI Europe Health Care UCITS ETF | -1.49% | 12.67% | -0.58% | 5.53% | -14.69% | 25.32% | -2.05% | 31.62% | -0.70% | 2.75% |
ISX5.L iShares Core EURO STOXX 50 UCITS ETF | 7.79% | 27.56% | 6.42% | 20.56% | -3.36% | 15.02% | 3.68% | 20.83% | 7.60% | 0.22% |
Correlation
The correlation between HEAE.L and ISX5.L is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.55 |
The correlation between HEAE.L and ISX5.L shifts across timeframes, from 0.41 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
HEAE.L vs. ISX5.L — Risk / Return Rank
HEAE.L
ISX5.L
HEAE.L vs. ISX5.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) and iShares Core EURO STOXX 50 UCITS ETF (ISX5.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.
| HEAE.L | ISX5.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.22 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.47 | 1.74 | -1.28 |
| Martin ratioReturn relative to average drawdown | 1.09 | 5.85 | -4.76 |
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Drawdowns
HEAE.L vs. ISX5.L - Drawdown Comparison
The maximum HEAE.L drawdown since its inception was -25.54%, smaller than the maximum ISX5.L drawdown of -32.96%. Use the drawdown chart below to compare losses from any high point for HEAE.L and ISX5.L.
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Drawdown Indicators
| HEAE.L | ISX5.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.54% | -32.96% | +7.42% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -11.40% | -2.33% |
Max Drawdown (3Y)Largest decline over 3 years | -24.51% | -14.17% | -10.34% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -21.77% | -2.74% |
Max Drawdown (10Y)Largest decline over 10 years | -24.51% | -31.41% | +6.90% |
Current DrawdownCurrent decline from peak | -10.03% | 0.00% | -10.03% |
Average DrawdownAverage peak-to-trough decline | -8.54% | -6.89% | -1.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.97% | 3.40% | +2.57% |
Volatility
HEAE.L vs. ISX5.L - Volatility Comparison
SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) has a higher volatility of 5.19% compared to iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) at 4.92%. This indicates that HEAE.L's price experiences larger fluctuations and is considered to be riskier than ISX5.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEAE.L | ISX5.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 4.92% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 12.20% | 14.15% | -1.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.80% | 16.91% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.66% | 19.38% | -2.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.08% | 20.45% | -4.37% |
HEAE.L vs. ISX5.L - Expense Ratio Comparison
HEAE.L has a 0.18% expense ratio, which is higher than ISX5.L's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HEAE.L vs. ISX5.L - Dividend Comparison
Neither HEAE.L nor ISX5.L has paid dividends to shareholders.
Frequently Asked Questions
HEAE.L and ISX5.L have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISX5.L is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISX5.L is cheaper with a 0.00% expense ratio, compared with 0.18% for HEAE.L.
HEAE.L is categorized as Health & Biotech Equities, while ISX5.L is Europe Equities. HEAE.L tracks MSCI World/Health Care NR USD, while ISX5.L tracks MSCI EMU NR EUR. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for HEAE.L and 0.00% for ISX5.L.
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