HLTH.L vs. QTOP

Last updated Jun 5, 2026

HLTH.L (SPDR® MSCI Europe Health Care UCITS ETF) and QTOP (iShares Nasdaq Top 30 Stocks ETF) are both exchange-traded funds - HLTH.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while QTOP is a Nasdaq-100 fund tracking the Nasdaq-100 Top 30 Index. Both are passively managed. Over the past year, HLTH.L returned 6.14% vs 43.30% for QTOP. At a 0.12 correlation, their price movements are largely independent. HLTH.L charges 0.18%/yr vs 0.20%/yr for QTOP.

Performance

HLTH.L vs. QTOP - 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 iShares Nasdaq Top 30 Stocks ETF (QTOP). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HLTH.L is traded in EUR, while QTOP is traded in USD. To make them comparable, the QTOP 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 lower than QTOP's 24.18% 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%

QTOP

• 1D: 0.00%
• 1M: 10.05%
• YTD: 24.18%
• 6M: 22.24%
• 1Y: 43.30%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HLTH.L vs. QTOP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
HLTH.L SPDR® MSCI Europe Health Care UCITS ETF	-1.46%	7.01%	-9.55%
QTOP iShares Nasdaq Top 30 Stocks ETF	23.21%	7.69%	10.67%

Correlation

The correlation between HLTH.L and QTOP is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (All Time) Calculated using the full available price history since Oct 25, 2024	0.12

HLTH.L vs. QTOP - Sectors Allocation Comparison

Sectors	HLTH.L	QTOP
Healthcare	100.0%	3.3%
Basic Materials	-	1.5%
Communication Services	-	17.7%
Consumer Cyclical	-	10.4%
Consumer Defensive	-	8.5%
Energy	-	-
Financial Services	-	-
Industrials	-	0.9%
Real Estate	-	-
Technology	-	57.7%
Utilities	-	-

Return for Risk

HLTH.L vs. QTOP — 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

QTOP

QTOP Risk / Return Rank: 74
QTOP Sharpe Ratio Rank: 81
QTOP Sortino Ratio Rank: 76
QTOP Omega Ratio Rank: 75
QTOP Calmar Ratio Rank: 71
QTOP Martin Ratio Rank: 70

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. QTOP - 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 iShares Nasdaq Top 30 Stocks ETF (QTOP). 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	QTOP	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.48	-2.11
Sortino ratio: Return per unit of downside risk	0.66	3.12	-2.46
Omega ratio: Gain probability vs. loss probability	1.08	1.43	-0.35
Calmar ratio: Return relative to maximum drawdown	0.49	3.59	-3.11
Martin ratio: Return relative to average drawdown	1.07	10.86	-9.79
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. QTOP - Sharpe Ratio Comparison

The current HLTH.L Sharpe Ratio is 0.37, which is lower than the QTOP Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of HLTH.L and QTOP, 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	QTOP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.48	-2.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	1.15	-0.80

Drawdowns

HLTH.L vs. QTOP - Drawdown Comparison

The maximum HLTH.L drawdown since its inception was -26.57%, roughly equal to the maximum QTOP drawdown of -27.66%. Use the drawdown chart below to compare losses from any high point for HLTH.L and QTOP.

Drawdown Indicators

	HLTH.L	QTOP	Difference
Max Drawdown Largest peak-to-trough decline	-26.57%	-27.66%	+1.09%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-12.11%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-26.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.57%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.57%	—	—
Current Drawdown Current decline from peak	-10.88%	0.00%	-10.88%
Average Drawdown Average peak-to-trough decline	-9.38%	-5.64%	-3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	4.00%	+1.71%

Volatility

HLTH.L vs. QTOP - Volatility Comparison

SPDR® MSCI Europe Health Care UCITS ETF (HLTH.L) has a higher volatility of 5.58% compared to iShares Nasdaq Top 30 Stocks ETF (QTOP) at 4.43%. This indicates that HLTH.L's price experiences larger fluctuations and is considered to be riskier than QTOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLTH.L	QTOP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	4.43%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	12.75%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	17.58%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	24.20%	-8.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	24.20%	-8.51%

HLTH.L vs. QTOP - Expense Ratio Comparison

HLTH.L has a 0.18% expense ratio, which is lower than QTOP's 0.20% 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. QTOP - Dividend Comparison

HLTH.L has not paid dividends to shareholders, while QTOP's dividend yield for the trailing twelve months is around 0.32%.

Position	TTM	2025	2024
HLTH.L SPDR® MSCI Europe Health Care UCITS ETF	0.00%	0.00%	0.00%
QTOP iShares Nasdaq Top 30 Stocks ETF	0.32%	0.38%	0.11%

Frequently Asked Questions

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

HLTH.L and QTOP have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HLTH.L or QTOP?

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 QTOP?

HLTH.L is cheaper with a 0.18% expense ratio, compared with 0.20% for QTOP.

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

HLTH.L is categorized as Health & Biotech Equities, while QTOP is Nasdaq-100. HLTH.L tracks MSCI World/Health Care NR USD, while QTOP tracks Nasdaq-100 Top 30 Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for HLTH.L and 0.20% for QTOP.