ISX5.L vs. HEAE.L
ISX5.L (iShares Core EURO STOXX 50 UCITS ETF) and HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) are both exchange-traded funds - ISX5.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while HEAE.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD. Both are passively managed. Over the past 10 years, ISX5.L returned 13.05%/yr vs 4.85%/yr for HEAE.L. A 0.59 correlation means they provide meaningful diversification when combined. ISX5.L charges 0.00%/yr vs 0.18%/yr for HEAE.L.
Performance
ISX5.L vs. HEAE.L - Performance Comparison
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Different Trading Currencies
ISX5.L is traded in USD, while HEAE.L is traded in GBP. To make them comparable, the HEAE.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ISX5.L achieves a 7.24% return, which is significantly higher than HEAE.L's -1.78% return. Over the past 10 years, ISX5.L has outperformed HEAE.L with an annualized return of 13.05%, while HEAE.L has yielded a comparatively lower 4.85% annualized return.
ISX5.L
- 1D
- 2.46%
- 1M
- 3.59%
- YTD
- 7.24%
- 6M
- 8.56%
- 1Y
- 19.84%
- 3Y*
- 18.31%
- 5Y*
- 10.63%
- 10Y*
- 13.05%
HEAE.L
- 1D
- 0.00%
- 1M
- 1.22%
- YTD
- -1.78%
- 6M
- -0.11%
- 1Y
- 6.29%
- 3Y*
- 5.98%
- 5Y*
- 1.03%
- 10Y*
- 4.85%
ISX5.L vs. HEAE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISX5.L iShares Core EURO STOXX 50 UCITS ETF | 7.24% | 37.35% | 4.59% | 26.91% | -13.63% | 13.94% | 6.81% | 25.61% | 1.58% | 9.70% |
HEAE.L SPDR MSCI Europe Health Care UCITS ETF | -1.78% | 21.17% | -2.23% | 11.10% | -23.81% | 24.18% | 0.95% | 36.90% | -6.32% | 12.52% |
Correlation
The correlation between ISX5.L and HEAE.L is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.59 |
The correlation between ISX5.L and HEAE.L has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.
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Return for Risk
ISX5.L vs. HEAE.L — Risk / Return Rank
ISX5.L
HEAE.L
ISX5.L vs. HEAE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) and SPDR MSCI Europe Health Care UCITS ETF (HEAE.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.
| ISX5.L | HEAE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.06 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.39 | 0.33 | +1.06 |
| Martin ratioReturn relative to average drawdown | 4.69 | 0.75 | +3.93 |
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Drawdowns
ISX5.L vs. HEAE.L - Drawdown Comparison
The maximum ISX5.L drawdown since its inception was -38.62%, roughly equal to the maximum HEAE.L drawdown of -39.87%. Use the drawdown chart below to compare losses from any high point for ISX5.L and HEAE.L.
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Drawdown Indicators
| ISX5.L | HEAE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.62% | -39.87% | +1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -12.92% | -14.74% | +1.82% |
Max Drawdown (3Y)Largest decline over 3 years | -15.36% | -26.29% | +10.93% |
Max Drawdown (5Y)Largest decline over 5 years | -34.86% | -38.55% | +3.69% |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | -38.55% | -0.07% |
Current DrawdownCurrent decline from peak | -0.19% | -11.01% | +10.82% |
Average DrawdownAverage peak-to-trough decline | -8.34% | -13.11% | +4.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.85% | 6.65% | -2.80% |
Volatility
ISX5.L vs. HEAE.L - Volatility Comparison
iShares Core EURO STOXX 50 UCITS ETF (ISX5.L) and SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) have volatilities of 5.29% and 5.18%, 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
| ISX5.L | HEAE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.29% | 5.18% | +0.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.25% | 13.19% | +2.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.30% | 18.28% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.91% | 18.60% | +3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.97% | 18.77% | +3.20% |
ISX5.L vs. HEAE.L - Expense Ratio Comparison
ISX5.L has a 0.00% expense ratio, which is lower than HEAE.L's 0.18% 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
ISX5.L vs. HEAE.L - Dividend Comparison
Neither ISX5.L nor HEAE.L has paid dividends to shareholders.
Frequently Asked Questions
ISX5.L and HEAE.L have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ISX5.L is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ISX5.L is cheaper with a 0.00% expense ratio, compared with 0.18% for HEAE.L.
ISX5.L is categorized as Europe Equities, while HEAE.L is Health & Biotech Equities. ISX5.L tracks MSCI EMU NR EUR, while HEAE.L tracks MSCI World/Health Care NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.00% for ISX5.L and 0.18% for HEAE.L.
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