HEAL.L vs. WHCE.L
HEAL.L (iShares Healthcare Innovation UCITS ETF USD (Acc)) and WHCE.L (Invesco S&P World Health Care ESG UCITS ETF Acc) are both Health & Biotech Equities funds - HEAL.L tracks the MSCI World/Health Care NR USD while WHCE.L tracks the S&P World ESG Enhanced Health Care Index. Both are passively managed. Over the past 3 years, HEAL.L returned 6.08%/yr vs 5.96%/yr for WHCE.L. A 0.70 correlation means they provide meaningful diversification when combined. HEAL.L charges 0.40%/yr vs 0.18%/yr for WHCE.L.
Performance
HEAL.L vs. WHCE.L - Performance Comparison
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Returns By Period
In the year-to-date period, HEAL.L achieves a 0.64% return, which is significantly higher than WHCE.L's -4.23% 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*
- —
WHCE.L
- 1D
- 2.89%
- 1M
- 3.76%
- YTD
- -4.23%
- 6M
- -2.86%
- 1Y
- 11.99%
- 3Y*
- 5.96%
- 5Y*
- —
- 10Y*
- —
HEAL.L vs. WHCE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HEAL.L iShares Healthcare Innovation UCITS ETF USD (Acc) | 0.64% | 18.42% | 0.96% | -0.56% |
WHCE.L Invesco S&P World Health Care ESG UCITS ETF Acc | -4.23% | 15.94% | 1.55% | 2.96% |
Correlation
The correlation between HEAL.L and WHCE.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 | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023 | 0.70 |
The correlation between HEAL.L and WHCE.L has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.
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Return for Risk
HEAL.L vs. WHCE.L — Risk / Return Rank
HEAL.L
WHCE.L
HEAL.L vs. WHCE.L - 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 Invesco S&P World Health Care ESG UCITS ETF Acc (WHCE.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.
| HEAL.L | WHCE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.14 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.61 | 0.96 | +0.65 |
| Martin ratioReturn relative to average drawdown | 3.96 | 2.51 | +1.45 |
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
| HEAL.L | WHCE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.16 | 0.76 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.35 | -0.02 |
Drawdowns
HEAL.L vs. WHCE.L - Drawdown Comparison
The maximum HEAL.L drawdown since its inception was -46.43%, which is greater than WHCE.L's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for HEAL.L and WHCE.L.
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Drawdown Indicators
| HEAL.L | WHCE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.43% | -20.11% | -26.32% |
Max Drawdown (1Y)Largest decline over 1 year | -12.59% | -12.46% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -21.46% | -20.11% | -1.35% |
Max Drawdown (5Y)Largest decline over 5 years | -43.70% | — | — |
Current DrawdownCurrent decline from peak | -20.00% | -7.25% | -12.75% |
Average DrawdownAverage peak-to-trough decline | -18.60% | -6.13% | -12.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.12% | 4.76% | +0.36% |
Volatility
HEAL.L vs. WHCE.L - Volatility Comparison
iShares Healthcare Innovation UCITS ETF USD (Acc) (HEAL.L) and Invesco S&P World Health Care ESG UCITS ETF Acc (WHCE.L) have volatilities of 5.13% and 5.21%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEAL.L | WHCE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 5.21% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.28% | 11.59% | +1.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.48% | 15.65% | +1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.87% | 13.98% | +5.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.91% | 13.98% | +5.93% |
HEAL.L vs. WHCE.L - Expense Ratio Comparison
HEAL.L has a 0.40% expense ratio, which is higher than WHCE.L's 0.18% expense ratio.
Dividends
HEAL.L vs. WHCE.L - Dividend Comparison
Neither HEAL.L nor WHCE.L has paid dividends to shareholders.
Frequently Asked Questions
HEAL.L and WHCE.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, WHCE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WHCE.L is cheaper with a 0.18% expense ratio, compared with 0.40% for HEAL.L.
HEAL.L tracks MSCI World/Health Care NR USD, while WHCE.L tracks S&P World ESG Enhanced Health Care Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.40% for HEAL.L and 0.18% for WHCE.L.
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