HEDG.L vs. WDEP.L
HEDG.L (WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF) and WDEP.L (WisdomTree Europe Defence UCITS ETF EUR Accumulating) are both Europe Equities funds from WisdomTree - HEDG.L tracks the MSCI Europe NR EUR while WDEP.L tracks the WisdomTree Europe Defence Index. Both are passively managed. Over the past year, HEDG.L returned 16.38% vs -2.61% for WDEP.L. At a 0.26 correlation, their price movements are largely independent. HEDG.L charges 0.32%/yr vs 0.45%/yr for WDEP.L.
Performance
HEDG.L vs. WDEP.L - Performance Comparison
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Returns By Period
In the year-to-date period, HEDG.L achieves a 4.93% return, which is significantly higher than WDEP.L's 1.13% return.
HEDG.L
- 1D
- 0.40%
- 1M
- 1.20%
- YTD
- 4.93%
- 6M
- 5.56%
- 1Y
- 16.38%
- 3Y*
- 13.51%
- 5Y*
- 9.12%
- 10Y*
- —
WDEP.L
- 1D
- 1.35%
- 1M
- -6.27%
- YTD
- 1.13%
- 6M
- 4.45%
- 1Y
- -2.61%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HEDG.L vs. WDEP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
HEDG.L WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF | 4.93% | 14.45% |
WDEP.L WisdomTree Europe Defence UCITS ETF EUR Accumulating | 1.13% | 20.67% |
Correlation
The correlation between HEDG.L and WDEP.L is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Mar 13, 2025 | 0.26 |
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Return for Risk
HEDG.L vs. WDEP.L — Risk / Return Rank
HEDG.L
WDEP.L
HEDG.L vs. WDEP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) and WisdomTree Europe Defence UCITS ETF EUR Accumulating (WDEP.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.
| HEDG.L | WDEP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.19 | ||
| Sortino ratioReturn per unit of downside risk | +1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.02 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.04 | +1.39 |
| Martin ratioReturn relative to average drawdown | 4.66 | -0.08 | +4.75 |
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
| HEDG.L | WDEP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.17 | -0.02 | +1.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.90 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.04 | 0.59 | +0.46 |
Drawdowns
HEDG.L vs. WDEP.L - Drawdown Comparison
The maximum HEDG.L drawdown since its inception was -28.32%, which is greater than WDEP.L's maximum drawdown of -19.56%. Use the drawdown chart below to compare losses from any high point for HEDG.L and WDEP.L.
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Drawdown Indicators
| HEDG.L | WDEP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.32% | -19.56% | -8.76% |
Max Drawdown (1Y)Largest decline over 1 year | -12.22% | -19.56% | +7.34% |
Max Drawdown (3Y)Largest decline over 3 years | -13.02% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.10% | — | — |
Current DrawdownCurrent decline from peak | -1.89% | -14.70% | +12.81% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -6.15% | +1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.56% | 8.32% | -4.76% |
Volatility
HEDG.L vs. WDEP.L - Volatility Comparison
The current volatility for WisdomTree Issuer ICAV - WisdomTree Europe Equity UCITS ETF (HEDG.L) is 4.41%, while WisdomTree Europe Defence UCITS ETF EUR Accumulating (WDEP.L) has a volatility of 10.28%. This indicates that HEDG.L experiences smaller price fluctuations and is considered to be less risky than WDEP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEDG.L | WDEP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.41% | 10.28% | -5.87% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 22.06% | -10.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.23% | 28.59% | -14.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.92% | 30.09% | -11.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.82% | 30.09% | -3.27% |
HEDG.L vs. WDEP.L - Expense Ratio Comparison
HEDG.L has a 0.32% expense ratio, which is lower than WDEP.L's 0.45% expense ratio.
Dividends
HEDG.L vs. WDEP.L - Dividend Comparison
Neither HEDG.L nor WDEP.L has paid dividends to shareholders.
Frequently Asked Questions
HEDG.L and WDEP.L have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEDG.L is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEDG.L is cheaper with a 0.32% expense ratio, compared with 0.45% for WDEP.L.
HEDG.L tracks MSCI Europe NR EUR, while WDEP.L tracks WisdomTree Europe Defence Index. Their fees differ too: 0.32% for HEDG.L and 0.45% for WDEP.L.
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