HEAW.L vs. IHCU.L
HEAW.L (SPDR MSCI World Health Care UCITS ETF) and IHCU.L (iShares S&P 500 Health Care Sector UCITS ETF USD (Acc)) are both Health & Biotech Equities funds - HEAW.L tracks the MSCI World/Health Care NR USD while IHCU.L tracks the iShares S&P 500 Health Care Sector UCITS ETF USD (Acc). Both are passively managed. Over the past 10 years, HEAW.L returned 4.94%/yr vs 9.36%/yr for IHCU.L. A 0.71 correlation means they provide meaningful diversification when combined. HEAW.L charges 0.30%/yr vs 0.15%/yr for IHCU.L.
Performance
HEAW.L vs. IHCU.L - Performance Comparison
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Different Trading Currencies
HEAW.L is traded in GBP, while IHCU.L is traded in GBp. To make them comparable, the IHCU.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HEAW.L achieves a 0.93% return, which is significantly lower than IHCU.L's 3.10% return. Over the past 10 years, HEAW.L has underperformed IHCU.L with an annualized return of 4.94%, while IHCU.L has yielded a comparatively higher 9.36% annualized return.
HEAW.L
- 1D
- 0.00%
- 1M
- 3.13%
- 6M
- -0.89%
- YTD
- 0.93%
- 1Y
- 16.50%
- 3Y*
- 5.92%
- 5Y*
- -1.69%
- 10Y*
- 4.94%
IHCU.L
- 1D
- 0.45%
- 1M
- 4.09%
- 6M
- 1.95%
- YTD
- 3.10%
- 1Y
- 20.87%
- 3Y*
- 7.15%
- 5Y*
- 6.27%
- 10Y*
- 9.36%
HEAW.L vs. IHCU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEAW.L SPDR MSCI World Health Care UCITS ETF | 0.93% | 7.46% | 2.52% | -2.05% | -21.48% | 19.59% | 13.26% | 23.34% | 2.48% | 19.69% |
IHCU.L iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) | 3.10% | 6.77% | 3.96% | -3.89% | 8.99% | 29.15% | 8.09% | 16.89% | 10.43% | 11.31% |
Correlation
The correlation between HEAW.L and IHCU.L is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.71 |
Over the past year, HEAW.L and IHCU.L have become more correlated (0.95) than their long-term average of 0.71, meaning their price movements have been converging.
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Return for Risk
HEAW.L vs. IHCU.L — Risk / Return Rank
HEAW.L
IHCU.L
HEAW.L vs. IHCU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Health Care UCITS ETF (HEAW.L) and iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IHCU.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.
| HEAW.L | IHCU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.79 | -0.24 |
| Martin ratioReturn relative to average drawdown | 3.95 | 4.47 | -0.52 |
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Drawdowns
HEAW.L vs. IHCU.L - Drawdown Comparison
The maximum HEAW.L drawdown since its inception was -32.15%, smaller than the maximum IHCU.L drawdown of -38.44%. Use the drawdown chart below to compare losses from any high point for HEAW.L and IHCU.L.
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Drawdown Indicators
| HEAW.L | IHCU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.15% | -38.44% | +6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -11.54% | +0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -23.98% | +5.13% |
Max Drawdown (5Y)Largest decline over 5 years | -32.15% | -23.98% | -8.17% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -23.98% | -8.17% |
Current DrawdownCurrent decline from peak | -14.72% | -4.34% | -10.38% |
Average DrawdownAverage peak-to-trough decline | -8.85% | -9.78% | +0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 4.63% | -0.45% |
Volatility
HEAW.L vs. IHCU.L - Volatility Comparison
SPDR MSCI World Health Care UCITS ETF (HEAW.L) and iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IHCU.L) have volatilities of 5.29% and 5.45%, 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
| HEAW.L | IHCU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 5.45% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 10.65% | 11.14% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 15.18% | -0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 20.31% | -3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.99% | 18.55% | -2.56% |
HEAW.L vs. IHCU.L - Expense Ratio Comparison
HEAW.L has a 0.30% expense ratio, which is higher than IHCU.L's 0.15% expense ratio.
Dividends
HEAW.L vs. IHCU.L - Dividend Comparison
Neither HEAW.L nor IHCU.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, HEAW.L and IHCU.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, IHCU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHCU.L is cheaper with a 0.15% expense ratio, compared with 0.30% for HEAW.L.
HEAW.L tracks MSCI World/Health Care NR USD, while IHCU.L tracks iShares S&P 500 Health Care Sector UCITS ETF USD (Acc). They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for HEAW.L and 0.15% for IHCU.L.
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