HEAL.L vs. IBB

Last updated Jun 5, 2026

HEAL.L (iShares Healthcare Innovation UCITS ETF USD (Acc)) and IBB (iShares Nasdaq Biotechnology ETF) are both Health & Biotech Equities funds from iShares - HEAL.L tracks the MSCI World/Health Care NR USD while IBB tracks the NASDAQ Biotechnology Index. Both are passively managed. Over the past 5 years, HEAL.L returned -1.96%/yr vs 2.57%/yr for IBB. A 0.55 correlation means they provide meaningful diversification when combined. HEAL.L charges 0.40%/yr vs 0.47%/yr for IBB.

Performance

HEAL.L vs. IBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Healthcare Innovation UCITS ETF USD (Acc) (HEAL.L) and iShares Nasdaq Biotechnology ETF (IBB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEAL.L achieves a 0.64% return, which is significantly lower than IBB's 1.65% return.

HEAL.L

• 1D: 3.48%
• 1M: 4.82%
• YTD: 0.64%
• 6M: -0.41%
• 1Y: 20.32%
• 3Y*: 6.08%
• 5Y*: -1.96%
• 10Y*: —

IBB

• 1D: 2.35%
• 1M: 0.64%
• YTD: 1.65%
• 6M: -0.21%
• 1Y: 37.34%
• 3Y*: 10.11%
• 5Y*: 2.57%
• 10Y*: 6.32%

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

HEAL.L vs. IBB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HEAL.L iShares Healthcare Innovation UCITS ETF USD (Acc)	0.64%	18.42%	0.96%	3.11%	-24.00%	-6.52%	54.05%	12.43%	-3.45%	35.92%
IBB iShares Nasdaq Biotechnology ETF	1.65%	27.98%	-2.41%	3.76%	-13.69%	0.95%	26.01%	25.42%	-9.53%	21.08%

Correlation

The correlation between HEAL.L and IBB is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 13, 2016	0.55

The correlation between HEAL.L and IBB has been stable across timeframes, ranging from 0.55 to 0.64 - a consistent structural relationship.

HEAL.L vs. IBB - Sectors Allocation Comparison

Sectors	HEAL.L	IBB
Healthcare	98.0%	100.0%
Technology	1.2%	-
Industrials	0.5%	-
Basic Materials	0.4%	-
Financial Services	0.2%	-
Consumer Defensive	0.1%	-
Communication Services	-	-
Consumer Cyclical	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

HEAL.L vs. IBB — Risk / Return Rank

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

HEAL.L

HEAL.L Risk / Return Rank: 32
HEAL.L Sharpe Ratio Rank: 33
HEAL.L Sortino Ratio Rank: 34
HEAL.L Omega Ratio Rank: 31
HEAL.L Calmar Ratio Rank: 33
HEAL.L Martin Ratio Rank: 28

IBB

IBB Risk / Return Rank: 62
IBB Sharpe Ratio Rank: 56
IBB Sortino Ratio Rank: 57
IBB Omega Ratio Rank: 52
IBB Calmar Ratio Rank: 78
IBB Martin Ratio Rank: 68

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.

HEAL.L vs. IBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Healthcare Innovation UCITS ETF USD (Acc) (HEAL.L) and iShares Nasdaq Biotechnology ETF (IBB). 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.

	HEAL.L	IBB	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.88	-0.72
Sortino ratio: Return per unit of downside risk	1.80	2.67	-0.87
Omega ratio: Gain probability vs. loss probability	1.20	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	1.61	3.89	-2.29
Martin ratio: Return relative to average drawdown	3.96	12.34	-8.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEAL.L vs. IBB - Sharpe Ratio Comparison

The current HEAL.L Sharpe Ratio is 1.16, which is lower than the IBB Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of HEAL.L and IBB, 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

	HEAL.L	IBB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	1.88	-0.72
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	0.12	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.26	+0.07

Drawdowns

HEAL.L vs. IBB - Drawdown Comparison

The maximum HEAL.L drawdown since its inception was -46.43%, smaller than the maximum IBB drawdown of -62.85%. Use the drawdown chart below to compare losses from any high point for HEAL.L and IBB.

Drawdown Indicators

	HEAL.L	IBB	Difference
Max Drawdown Largest peak-to-trough decline	-46.43%	-62.85%	+16.42%
Max Drawdown (1Y) Largest decline over 1 year	-12.59%	-9.63%	-2.96%
Max Drawdown (3Y) Largest decline over 3 years	-21.46%	-24.85%	+3.39%
Max Drawdown (5Y) Largest decline over 5 years	-43.70%	-39.82%	-3.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.82%	—
Current Drawdown Current decline from peak	-20.00%	-3.43%	-16.57%
Average Drawdown Average peak-to-trough decline	-18.60%	-21.18%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.12%	3.04%	+2.08%

Volatility

HEAL.L vs. IBB - Volatility Comparison

The current volatility for iShares Healthcare Innovation UCITS ETF USD (Acc) (HEAL.L) is 5.13%, while iShares Nasdaq Biotechnology ETF (IBB) has a volatility of 7.26%. This indicates that HEAL.L experiences smaller price fluctuations and is considered to be less risky than IBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEAL.L	IBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.13%	7.26%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	13.28%	15.55%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	17.48%	19.99%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.87%	22.01%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.91%	23.23%	-3.32%

HEAL.L vs. IBB - Expense Ratio Comparison

HEAL.L has a 0.40% expense ratio, which is lower than IBB's 0.47% expense ratio.

Dividends

HEAL.L vs. IBB - Dividend Comparison

HEAL.L has not paid dividends to shareholders, while IBB's dividend yield for the trailing twelve months is around 0.23%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HEAL.L iShares Healthcare Innovation UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IBB iShares Nasdaq Biotechnology ETF	0.23%	0.23%	0.29%	0.26%	0.31%	0.21%	0.21%	0.33%	0.20%	0.30%	0.19%	0.03%

Frequently Asked Questions

Can I hold both HEAL.L and IBB in my portfolio?

HEAL.L and IBB have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEAL.L or IBB?

On fees, HEAL.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HEAL.L or IBB?

HEAL.L is cheaper with a 0.40% expense ratio, compared with 0.47% for IBB.

What is the main difference between HEAL.L and IBB?

HEAL.L tracks MSCI World/Health Care NR USD, while IBB tracks NASDAQ Biotechnology Index. Their fees differ too: 0.40% for HEAL.L and 0.47% for IBB.