HLTH.L vs. CH5.L

Last updated Jun 5, 2026

HLTH.L (SPDR® MSCI Europe Health Care UCITS ETF) and CH5.L (Amundi ETF MSCI Europe Healthcare UCITS ETF) are both Health & Biotech Equities funds tracking the MSCI World/Health Care NR USD, from State Street and Amundi respectively. Both are passively managed. Over the past 10 years, HLTH.L returned 6.14%/yr vs -4.09%/yr for CH5.L. Their correlation of 0.95 suggests significant overlap in exposure. HLTH.L charges 0.18%/yr vs 0.25%/yr for CH5.L.

Performance

HLTH.L vs. CH5.L - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR® MSCI Europe Health Care UCITS ETF (HLTH.L) and Amundi ETF MSCI Europe Healthcare UCITS ETF (CH5.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HLTH.L is traded in EUR, while CH5.L is traded in GBp. To make them comparable, the CH5.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, HLTH.L achieves a -1.46% return, which is significantly higher than CH5.L's -2.15% return. Over the past 10 years, HLTH.L has outperformed CH5.L with an annualized return of 6.14%, while CH5.L has yielded a comparatively lower -4.09% annualized return.

HLTH.L

• 1D: 3.12%
• 1M: 1.53%
• YTD: -1.46%
• 6M: -0.41%
• 1Y: 6.14%
• 3Y*: 2.79%
• 5Y*: 5.77%
• 10Y*: 6.14%

CH5.L

• 1D: 3.11%
• 1M: 1.41%
• YTD: -2.15%
• 6M: -0.62%
• 1Y: 5.22%
• 3Y*: -26.60%
• 5Y*: -13.55%
• 10Y*: -4.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HLTH.L vs. CH5.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLTH.L SPDR® MSCI Europe Health Care UCITS ETF	-1.46%	7.01%	4.14%	7.61%	-3.78%	25.28%	-1.76%	30.59%	-0.44%	3.42%
CH5.L Amundi ETF MSCI Europe Healthcare UCITS ETF	-2.15%	6.02%	-61.46%	7.61%	-3.60%	24.64%	-2.05%	32.44%	-1.00%	2.66%

Correlation

The correlation between HLTH.L and CH5.L is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014	0.95

The correlation between HLTH.L and CH5.L has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

HLTH.L vs. CH5.L - Sectors Allocation Comparison

Sectors	HLTH.L	CH5.L
Healthcare	100.0%	28.0%
Basic Materials	-	3.3%
Communication Services	-	0.0%
Consumer Cyclical	-	6.6%
Consumer Defensive	-	1.8%
Energy	-	1.5%
Financial Services	-	18.5%
Industrials	-	37.9%
Real Estate	-	0.5%
Technology	-	15.7%
Utilities	-	0.6%

Return for Risk

HLTH.L vs. CH5.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HLTH.L

HLTH.L Risk / Return Rank: 15
HLTH.L Sharpe Ratio Rank: 15
HLTH.L Sortino Ratio Rank: 15
HLTH.L Omega Ratio Rank: 15
HLTH.L Calmar Ratio Rank: 15
HLTH.L Martin Ratio Rank: 14

CH5.L

CH5.L Risk / Return Rank: 17
CH5.L Sharpe Ratio Rank: 17
CH5.L Sortino Ratio Rank: 17
CH5.L Omega Ratio Rank: 17
CH5.L Calmar Ratio Rank: 17
CH5.L Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HLTH.L vs. CH5.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Health Care UCITS ETF (HLTH.L) and Amundi ETF MSCI Europe Healthcare UCITS ETF (CH5.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.

	HLTH.L	CH5.L	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.32	+0.05
Sortino ratio: Return per unit of downside risk	0.66	0.59	+0.07
Omega ratio: Gain probability vs. loss probability	1.08	1.07	+0.01
Calmar ratio: Return relative to maximum drawdown	0.49	0.41	+0.07
Martin ratio: Return relative to average drawdown	1.07	0.92	+0.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLTH.L vs. CH5.L - Sharpe Ratio Comparison

The current HLTH.L Sharpe Ratio is 0.37, which is comparable to the CH5.L Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of HLTH.L and CH5.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HLTH.L	CH5.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.32	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	-0.42	+0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	-0.16	+0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.01	+0.34

Drawdowns

HLTH.L vs. CH5.L - Drawdown Comparison

The maximum HLTH.L drawdown since its inception was -26.57%, smaller than the maximum CH5.L drawdown of -70.02%. Use the drawdown chart below to compare losses from any high point for HLTH.L and CH5.L.

Drawdown Indicators

	HLTH.L	CH5.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.57%	-70.02%	+43.45%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-12.57%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	-26.57%	-70.02%	+43.45%
Max Drawdown (5Y) Largest decline over 5 years	-26.57%	-70.02%	+43.45%
Max Drawdown (10Y) Largest decline over 10 years	-26.57%	-70.02%	+43.45%
Current Drawdown Current decline from peak	-10.88%	-64.58%	+53.70%
Average Drawdown Average peak-to-trough decline	-9.38%	-16.96%	+7.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	5.68%	+0.03%

Volatility

HLTH.L vs. CH5.L - Volatility Comparison

SPDR® MSCI Europe Health Care UCITS ETF (HLTH.L) and Amundi ETF MSCI Europe Healthcare UCITS ETF (CH5.L) have volatilities of 5.58% and 5.48%, 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.

Volatility by Period

	HLTH.L	CH5.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	5.48%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	11.44%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	16.29%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	31.93%	-16.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	25.36%	-9.67%

HLTH.L vs. CH5.L - Expense Ratio Comparison

HLTH.L has a 0.18% expense ratio, which is lower than CH5.L's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

HLTH.L vs. CH5.L - Dividend Comparison

Neither HLTH.L nor CH5.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HLTH.L and CH5.L in my portfolio?

With a correlation of 0.97, HLTH.L and CH5.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.

Which ETF is better, HLTH.L or CH5.L?

On fees, HLTH.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HLTH.L or CH5.L?

HLTH.L is cheaper with a 0.18% expense ratio, compared with 0.25% for CH5.L.

What is the main difference between HLTH.L and CH5.L?

Both ETFs track MSCI World/Health Care NR USD. They also come from different issuers: State Street and Amundi. Their fees differ too: 0.18% for HLTH.L and 0.25% for CH5.L.