IHCU.L vs. HEAW.L
IHCU.L (iShares S&P 500 Health Care Sector UCITS ETF USD (Acc)) and HEAW.L (SPDR MSCI World Health Care UCITS ETF) are both Health & Biotech Equities funds - IHCU.L tracks the iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) while HEAW.L tracks the MSCI World/Health Care NR USD. Both are passively managed. Over the past 10 years, IHCU.L returned 9.36%/yr vs 4.94%/yr for HEAW.L. A 0.71 correlation means they provide meaningful diversification when combined. IHCU.L charges 0.15%/yr vs 0.30%/yr for HEAW.L.
Performance
IHCU.L vs. HEAW.L - Performance Comparison
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Different Trading Currencies
IHCU.L is traded in GBp, while HEAW.L is traded in GBP. To make them comparable, the HEAW.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IHCU.L achieves a 3.10% return, which is significantly higher than HEAW.L's 0.93% return. Over the past 10 years, IHCU.L has outperformed HEAW.L with an annualized return of 9.36%, while HEAW.L has yielded a comparatively lower 4.94% annualized return.
IHCU.L
- 1D
- 0.45%
- 1M
- 4.09%
- 6M
- 1.95%
- YTD
- 3.10%
- 1Y
- 20.87%
- 3Y*
- 7.15%
- 5Y*
- 6.27%
- 10Y*
- 9.36%
HEAW.L
- 1D
- 0.00%
- 1M
- 3.13%
- 6M
- -0.89%
- YTD
- 0.93%
- 1Y
- 16.50%
- 3Y*
- 5.92%
- 5Y*
- -1.69%
- 10Y*
- 4.94%
IHCU.L vs. HEAW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHCU.L iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) | 3.10% | 6.77% | 3.96% | -3.89% | 8.99% | 29.15% | 8.09% | 16.89% | 10.43% | 11.31% |
HEAW.L SPDR MSCI World Health Care UCITS ETF | 0.93% | 7.46% | 2.52% | -2.05% | -21.48% | 19.59% | 13.26% | 23.34% | 2.48% | 19.69% |
Correlation
The correlation between IHCU.L and HEAW.L is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.71 |
Over the past year, IHCU.L and HEAW.L have become more correlated (0.95) than their long-term average of 0.71, meaning their price movements have been converging.
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Return for Risk
IHCU.L vs. HEAW.L — Risk / Return Rank
IHCU.L
HEAW.L
IHCU.L vs. HEAW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IHCU.L) and SPDR MSCI World Health Care UCITS ETF (HEAW.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.
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.
| IHCU.L | HEAW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 1.55 | +0.24 |
| Martin ratioReturn relative to average drawdown | 4.47 | 3.95 | +0.52 |
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Drawdowns
IHCU.L vs. HEAW.L - Drawdown Comparison
The maximum IHCU.L drawdown since its inception was -38.44%, which is greater than HEAW.L's maximum drawdown of -32.15%. Use the drawdown chart below to compare losses from any high point for IHCU.L and HEAW.L.
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Drawdown Indicators
| IHCU.L | HEAW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.44% | -32.15% | -6.29% |
Max Drawdown (1Y)Largest decline over 1 year | -11.54% | -10.71% | -0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -23.98% | -18.85% | -5.13% |
Max Drawdown (5Y)Largest decline over 5 years | -23.98% | -32.15% | +8.17% |
Max Drawdown (10Y)Largest decline over 10 years | -23.98% | -32.15% | +8.17% |
Current DrawdownCurrent decline from peak | -4.34% | -14.72% | +10.38% |
Average DrawdownAverage peak-to-trough decline | -9.78% | -8.85% | -0.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.63% | 4.18% | +0.45% |
Volatility
IHCU.L vs. HEAW.L - Volatility Comparison
iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IHCU.L) and SPDR MSCI World Health Care UCITS ETF (HEAW.L) have volatilities of 5.45% and 5.29%, 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.
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Volatility by Period
| IHCU.L | HEAW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.45% | 5.29% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 11.14% | 10.65% | +0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.18% | 14.26% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 16.87% | +3.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.55% | 15.99% | +2.56% |
IHCU.L vs. HEAW.L - Expense Ratio Comparison
IHCU.L has a 0.15% expense ratio, which is lower than HEAW.L's 0.30% expense ratio.
Dividends
IHCU.L vs. HEAW.L - Dividend Comparison
Neither IHCU.L nor HEAW.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, IHCU.L and HEAW.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.
On fees, IHCU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHCU.L is cheaper with a 0.15% expense ratio, compared with 0.30% for HEAW.L.
IHCU.L tracks iShares S&P 500 Health Care Sector UCITS ETF USD (Acc), while HEAW.L tracks MSCI World/Health Care NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.15% for IHCU.L and 0.30% for HEAW.L.
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