HQL vs. IBRN
HQL (Tekla Life Sciences Investors) is a stock, while IBRN (iShares Neuroscience and Healthcare ETF) is Health & Biotech Equities fund tracking the NYSE FactSet Global Neuro Biopharma and MedTech Index. Over the past 3 years, HQL returned 25.73%/yr vs 15.16%/yr for IBRN. A 0.74 correlation means they provide meaningful diversification when combined.
Performance
HQL vs. IBRN - Performance Comparison
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Returns By Period
In the year-to-date period, HQL achieves a 20.12% return, which is significantly higher than IBRN's 15.46% return.
HQL
- 1D
- 1.40%
- 1M
- 9.89%
- YTD
- 20.12%
- 6M
- 16.58%
- 1Y
- 67.42%
- 3Y*
- 25.73%
- 5Y*
- 9.15%
- 10Y*
- 11.13%
IBRN
- 1D
- 1.16%
- 1M
- 7.72%
- YTD
- 15.46%
- 6M
- 14.40%
- 1Y
- 69.09%
- 3Y*
- 15.16%
- 5Y*
- —
- 10Y*
- —
HQL vs. IBRN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HQL Tekla Life Sciences Investors | 20.12% | 45.48% | 11.03% | 4.23% | -4.67% |
IBRN iShares Neuroscience and Healthcare ETF | 15.46% | 28.49% | -2.78% | 0.92% | 2.87% |
Correlation
The correlation between HQL and IBRN is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Aug 26, 2022 | 0.74 |
The correlation between HQL and IBRN has been stable across timeframes, ranging from 0.72 to 0.75 - a consistent structural relationship.
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Return for Risk
HQL vs. IBRN — Risk / Return Rank
HQL
IBRN
HQL vs. IBRN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tekla Life Sciences Investors (HQL) and iShares Neuroscience and Healthcare ETF (IBRN). 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.
| HQL | IBRN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.42 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 6.61 | 7.89 | -1.28 |
| Martin ratioReturn relative to average drawdown | 21.09 | 22.29 | -1.20 |
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Drawdowns
HQL vs. IBRN - Drawdown Comparison
The maximum HQL drawdown since its inception was -62.65%, which is greater than IBRN's maximum drawdown of -35.38%. Use the drawdown chart below to compare losses from any high point for HQL and IBRN.
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Drawdown Indicators
| HQL | IBRN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.65% | -35.38% | -27.27% |
Max Drawdown (1Y)Largest decline over 1 year | -10.25% | -8.80% | -1.45% |
Max Drawdown (3Y)Largest decline over 3 years | -25.10% | -35.38% | +10.28% |
Max Drawdown (5Y)Largest decline over 5 years | -38.86% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.86% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -22.23% | -9.74% | -12.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.21% | 3.11% | +0.10% |
Volatility
HQL vs. IBRN - Volatility Comparison
The current volatility for Tekla Life Sciences Investors (HQL) is 7.62%, while iShares Neuroscience and Healthcare ETF (IBRN) has a volatility of 8.19%. This indicates that HQL experiences smaller price fluctuations and is considered to be less risky than IBRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HQL | IBRN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | 8.19% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 15.14% | 19.05% | -3.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.67% | 25.49% | -3.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.76% | 25.35% | -4.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.29% | 25.35% | -3.06% |
Dividends
HQL vs. IBRN - Dividend Comparison
HQL's dividend yield for the trailing twelve months is around 10.80%, more than IBRN's 0.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HQL Tekla Life Sciences Investors | 10.80% | 10.85% | 14.18% | 9.44% | 9.57% | 8.79% | 7.90% | 8.03% | 10.72% | 8.25% | 12.18% | 11.84% |
IBRN iShares Neuroscience and Healthcare ETF | 0.86% | 0.99% | 0.40% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HQL and IBRN have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBRN has higher volatility (8.19%) compared to HQL (7.62%). In terms of maximum drawdown, HQL dropped -62.65% vs IBRN's -35.38%.
HQL currently has the higher Sharpe Ratio (3.15 vs 2.73), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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