HLTH.L vs. XSHC.L

Last updated Jun 5, 2026

HLTH.L (SPDR® MSCI Europe Health Care UCITS ETF) and XSHC.L (Xtrackers MSCI USA Health Care UCITS ETF 1D) are both Health & Biotech Equities funds tracking the MSCI World/Health Care NR USD, from State Street and Xtrackers respectively. Both are passively managed. Over the past 5 years, HLTH.L returned 5.77%/yr vs 6.50%/yr for XSHC.L. A 0.60 correlation means they provide meaningful diversification when combined. HLTH.L charges 0.18%/yr vs 0.12%/yr for XSHC.L.

Performance

HLTH.L vs. XSHC.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 Xtrackers MSCI USA Health Care UCITS ETF 1D (XSHC.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

The year-to-date returns for both investments are quite close, with HLTH.L having a -1.46% return and XSHC.L slightly higher at -1.43%.

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%

XSHC.L

• 1D: 2.89%
• 1M: 5.45%
• YTD: -1.43%
• 6M: -0.91%
• 1Y: 12.65%
• 3Y*: 3.58%
• 5Y*: 6.50%
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
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%	3.78%
XSHC.L Xtrackers MSCI USA Health Care UCITS ETF 1D	-1.43%	1.26%	9.10%	-1.53%	2.56%	36.47%	4.00%	24.14%	11.64%

Correlation

The correlation between HLTH.L and XSHC.L is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 24, 2018	0.61

The correlation between HLTH.L and XSHC.L has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.

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

Sectors	HLTH.L	XSHC.L
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

HLTH.L vs. XSHC.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

XSHC.L

XSHC.L Risk / Return Rank: 28
XSHC.L Sharpe Ratio Rank: 30
XSHC.L Sortino Ratio Rank: 31
XSHC.L Omega Ratio Rank: 28
XSHC.L Calmar Ratio Rank: 27
XSHC.L Martin Ratio Rank: 24

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. XSHC.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 Xtrackers MSCI USA Health Care UCITS ETF 1D (XSHC.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	XSHC.L	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.85	-0.48
Sortino ratio: Return per unit of downside risk	0.66	1.35	-0.69
Omega ratio: Gain probability vs. loss probability	1.08	1.15	-0.07
Calmar ratio: Return relative to maximum drawdown	0.49	1.11	-0.62
Martin ratio: Return relative to average drawdown	1.07	2.74	-1.66
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. XSHC.L - Sharpe Ratio Comparison

The current HLTH.L Sharpe Ratio is 0.37, which is lower than the XSHC.L Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of HLTH.L and XSHC.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	XSHC.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.85	-0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.45	-0.08
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	0.62	-0.26

Drawdowns

HLTH.L vs. XSHC.L - Drawdown Comparison

The maximum HLTH.L drawdown since its inception was -26.57%, roughly equal to the maximum XSHC.L drawdown of -25.93%. Use the drawdown chart below to compare losses from any high point for HLTH.L and XSHC.L.

Drawdown Indicators

	HLTH.L	XSHC.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.57%	-25.93%	-0.64%
Max Drawdown (1Y) Largest decline over 1 year	-12.57%	-11.37%	-1.20%
Max Drawdown (3Y) Largest decline over 3 years	-26.57%	-22.21%	-4.36%
Max Drawdown (5Y) Largest decline over 5 years	-26.57%	-22.21%	-4.36%
Max Drawdown (10Y) Largest decline over 10 years	-26.57%	—	—
Current Drawdown Current decline from peak	-10.88%	-7.39%	-3.49%
Average Drawdown Average peak-to-trough decline	-9.38%	-5.13%	-4.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	4.62%	+1.09%

Volatility

HLTH.L vs. XSHC.L - Volatility Comparison

SPDR® MSCI Europe Health Care UCITS ETF (HLTH.L) has a higher volatility of 5.58% compared to Xtrackers MSCI USA Health Care UCITS ETF 1D (XSHC.L) at 5.17%. This indicates that HLTH.L's price experiences larger fluctuations and is considered to be riskier than XSHC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLTH.L	XSHC.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	5.17%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	11.64%	10.38%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	14.80%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	14.48%	+1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.69%	16.10%	-0.41%

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

HLTH.L has a 0.18% expense ratio, which is higher than XSHC.L's 0.12% expense ratio. However, 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. XSHC.L - Dividend Comparison

HLTH.L has not paid dividends to shareholders, while XSHC.L's dividend yield for the trailing twelve months is around 1.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
HLTH.L SPDR® MSCI Europe Health Care UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XSHC.L Xtrackers MSCI USA Health Care UCITS ETF 1D	1.28%	1.25%	1.25%	1.23%	1.55%	0.85%	1.12%	0.98%

Frequently Asked Questions

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

HLTH.L and XSHC.L have a correlation of 0.59, 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 XSHC.L?

On fees, XSHC.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.

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

XSHC.L is cheaper with a 0.12% expense ratio, compared with 0.18% for HLTH.L.

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

Both ETFs track MSCI World/Health Care NR USD. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.18% for HLTH.L and 0.12% for XSHC.L.