HEAW.L vs. WHCA.AS
HEAW.L (SPDR MSCI World Health Care UCITS ETF) and WHCA.AS (iShares MSCI World Health Care Sector Advanced UCITS ETF USD Accumulating) are both Health & Biotech Equities funds - HEAW.L tracks the MSCI World/Health Care NR USD while WHCA.AS tracks the MSCI World Health Care Advanced Select 20 35 Capped. Both are passively managed. Over the past 3 years, HEAW.L returned 2.71%/yr vs 0.87%/yr for WHCA.AS. Their correlation of 0.85 suggests significant overlap in exposure. HEAW.L charges 0.30%/yr vs 0.18%/yr for WHCA.AS.
Performance
HEAW.L vs. WHCA.AS - Performance Comparison
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Different Trading Currencies
HEAW.L is traded in GBP, while WHCA.AS is traded in EUR. To make them comparable, the WHCA.AS values have been converted to GBP using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with HEAW.L having a -2.73% return and WHCA.AS slightly lower at -2.83%.
HEAW.L
- 1D
- 3.01%
- 1M
- 3.62%
- YTD
- -2.73%
- 6M
- -2.29%
- 1Y
- 12.89%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
WHCA.AS
- 1D
- 2.90%
- 1M
- 3.77%
- YTD
- -2.83%
- 6M
- -2.42%
- 1Y
- 10.47%
- 3Y*
- 0.87%
- 5Y*
- —
- 10Y*
- —
HEAW.L vs. WHCA.AS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HEAW.L SPDR MSCI World Health Care UCITS ETF | -2.73% | 7.46% | 2.52% | -2.05% | 5.82% |
WHCA.AS iShares MSCI World Health Care Sector Advanced UCITS ETF USD Accumulating | -2.83% | 7.92% | -3.63% | -1.09% | 7.68% |
Correlation
The correlation between HEAW.L and WHCA.AS is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.85 |
The correlation between HEAW.L and WHCA.AS has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.
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Return for Risk
HEAW.L vs. WHCA.AS — Risk / Return Rank
HEAW.L
WHCA.AS
HEAW.L vs. WHCA.AS - 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 MSCI World Health Care Sector Advanced UCITS ETF USD Accumulating (WHCA.AS). 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.
| HEAW.L | WHCA.AS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.13 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 0.91 | +0.27 |
| Martin ratioReturn relative to average drawdown | 3.10 | 2.30 | +0.80 |
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
| HEAW.L | WHCA.AS | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.73 | +0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.18 | +0.02 |
Drawdowns
HEAW.L vs. WHCA.AS - Drawdown Comparison
The maximum HEAW.L drawdown since its inception was -18.85%, roughly equal to the maximum WHCA.AS drawdown of -19.82%. Use the drawdown chart below to compare losses from any high point for HEAW.L and WHCA.AS.
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Drawdown Indicators
| HEAW.L | WHCA.AS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.85% | -19.82% | +0.97% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -11.15% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -19.82% | +0.97% |
Current DrawdownCurrent decline from peak | -6.00% | -7.18% | +1.18% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -6.38% | +0.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 4.44% | -0.36% |
Volatility
HEAW.L vs. WHCA.AS - Volatility Comparison
SPDR MSCI World Health Care UCITS ETF (HEAW.L) and iShares MSCI World Health Care Sector Advanced UCITS ETF USD Accumulating (WHCA.AS) have volatilities of 5.19% and 5.19%, 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 | WHCA.AS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 5.19% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 10.04% | -0.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 13.91% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 14.66% | -1.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 14.66% | -1.55% |
HEAW.L vs. WHCA.AS - Expense Ratio Comparison
HEAW.L has a 0.30% expense ratio, which is higher than WHCA.AS's 0.18% expense ratio.
Dividends
HEAW.L vs. WHCA.AS - Dividend Comparison
Neither HEAW.L nor WHCA.AS has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.94, HEAW.L and WHCA.AS 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, WHCA.AS is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WHCA.AS is cheaper with a 0.18% expense ratio, compared with 0.30% for HEAW.L.
HEAW.L tracks MSCI World/Health Care NR USD, while WHCA.AS tracks MSCI World Health Care Advanced Select 20 35 Capped. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for HEAW.L and 0.18% for WHCA.AS.
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