HEAW.L vs. WHEA.L
HEAW.L (SPDR MSCI World Health Care UCITS ETF) and WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) are both Health & Biotech Equities funds from State Street - HEAW.L tracks the MSCI World/Health Care NR USD while WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF. Both are passively managed. Over the past 10 years, HEAW.L returned 4.94%/yr vs 7.87%/yr for WHEA.L. A 0.74 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
HEAW.L vs. WHEA.L - Performance Comparison
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Different Trading Currencies
HEAW.L is traded in GBP, while WHEA.L is traded in USD. To make them comparable, the WHEA.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 higher than WHEA.L's 0.55% return. Over the past 10 years, HEAW.L has underperformed WHEA.L with an annualized return of 4.94%, while WHEA.L has yielded a comparatively higher 7.87% 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%
WHEA.L
- 1D
- 0.00%
- 1M
- 2.46%
- 6M
- -1.37%
- YTD
- 0.55%
- 1Y
- 16.04%
- 3Y*
- 5.64%
- 5Y*
- 4.69%
- 10Y*
- 7.87%
HEAW.L vs. WHEA.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% |
WHEA.L State Street SPDR MSCI World Health Care UCITS ETF | 0.55% | 7.03% | 2.81% | -1.63% | 5.68% | 21.55% | 9.62% | 18.49% | 7.50% | 9.87% |
Correlation
The correlation between HEAW.L and WHEA.L is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.74 |
The correlation between HEAW.L and WHEA.L shifts across timeframes, from 0.71 (10 years) to 0.92 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
HEAW.L vs. WHEA.L — Risk / Return Rank
HEAW.L
WHEA.L
HEAW.L vs. WHEA.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 State Street SPDR MSCI World Health Care UCITS ETF (WHEA.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 | WHEA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 1.46 | +0.08 |
| Martin ratioReturn relative to average drawdown | 3.95 | 3.75 | +0.21 |
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Drawdowns
HEAW.L vs. WHEA.L - Drawdown Comparison
The maximum HEAW.L drawdown since its inception was -32.15%, which is greater than WHEA.L's maximum drawdown of -19.01%. Use the drawdown chart below to compare losses from any high point for HEAW.L and WHEA.L.
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Drawdown Indicators
| HEAW.L | WHEA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.15% | -19.01% | -13.14% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -10.53% | -0.18% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -19.01% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -32.15% | -19.01% | -13.14% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -19.01% | -13.14% |
Current DrawdownCurrent decline from peak | -14.72% | -4.94% | -9.78% |
Average DrawdownAverage peak-to-trough decline | -8.85% | -4.30% | -4.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 4.12% | +0.06% |
Volatility
HEAW.L vs. WHEA.L - Volatility Comparison
The current volatility for SPDR MSCI World Health Care UCITS ETF (HEAW.L) is 5.29%, while State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) has a volatility of 5.81%. This indicates that HEAW.L experiences smaller price fluctuations and is considered to be less risky than WHEA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEAW.L | WHEA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 5.81% | -0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 10.65% | 11.66% | -1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 15.27% | -1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 14.10% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.99% | 15.16% | +0.83% |
HEAW.L vs. WHEA.L - Expense Ratio Comparison
Both HEAW.L and WHEA.L have an expense ratio of 0.30%.
Dividends
HEAW.L vs. WHEA.L - Dividend Comparison
Neither HEAW.L nor WHEA.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.92, HEAW.L and WHEA.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.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
HEAW.L and WHEA.L have the same expense ratio: 0.30% per year.
HEAW.L tracks MSCI World/Health Care NR USD, while WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF.
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