ITEC.L vs. SHLD.L
ITEC.L (SPDR® MSCI Europe Technology UCITS ETF) and SHLD.L (iShares Digital Security UCITS ETF USD (Dist)) are both Technology Equities funds - ITEC.L tracks the MSCI World/Information Tech NR USD while SHLD.L tracks the STOXX Global Digital Security Open Net Index in USD. Both are passively managed. Over the past 5 years, ITEC.L returned 10.77%/yr vs 9.79%/yr for SHLD.L. A 0.70 correlation means they provide meaningful diversification when combined. ITEC.L charges 0.18%/yr vs 0.40%/yr for SHLD.L.
Performance
ITEC.L vs. SHLD.L - Performance Comparison
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Different Trading Currencies
ITEC.L is traded in EUR, while SHLD.L is traded in USD. To make them comparable, the SHLD.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ITEC.L achieves a 31.11% return, which is significantly higher than SHLD.L's 19.70% return.
ITEC.L
- 1D
- -2.33%
- 1M
- -11.93%
- 6M
- 16.91%
- YTD
- 31.11%
- 1Y
- 39.25%
- 3Y*
- 18.68%
- 5Y*
- 10.77%
- 10Y*
- 14.40%
SHLD.L
- 1D
- -0.50%
- 1M
- 3.96%
- 6M
- 18.31%
- YTD
- 19.70%
- 1Y
- 23.48%
- 3Y*
- 18.39%
- 5Y*
- 9.79%
- 10Y*
- —
ITEC.L vs. SHLD.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 31.11% | 9.68% | 8.54% | 34.98% | -28.18% | 35.96% | 14.04% | 36.65% | -4.92% |
SHLD.L iShares Digital Security UCITS ETF USD (Dist) | 19.70% | -1.72% | 24.25% | 29.90% | -24.71% | 25.22% | 16.73% | 31.16% | -2.80% |
Correlation
The correlation between ITEC.L and SHLD.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2018 | 0.70 |
The correlation between ITEC.L and SHLD.L shifts across timeframes, from 0.52 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITEC.L vs. SHLD.L — Risk / Return Rank
ITEC.L
SHLD.L
ITEC.L vs. SHLD.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) and iShares Digital Security UCITS ETF USD (Dist) (SHLD.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.
| ITEC.L | SHLD.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.46 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.19 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 1.92 | +1.04 |
| Martin ratioReturn relative to average drawdown | 8.32 | 4.28 | +4.04 |
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Drawdowns
ITEC.L vs. SHLD.L - Drawdown Comparison
The maximum ITEC.L drawdown since its inception was -38.49%, which is greater than SHLD.L's maximum drawdown of -32.11%. Use the drawdown chart below to compare losses from any high point for ITEC.L and SHLD.L.
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Drawdown Indicators
| ITEC.L | SHLD.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.49% | -32.11% | -6.38% |
Max Drawdown (1Y)Largest decline over 1 year | -13.16% | -12.15% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -26.94% | -26.28% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -38.49% | -28.46% | -10.03% |
Max Drawdown (10Y)Largest decline over 10 years | -38.49% | — | — |
Current DrawdownCurrent decline from peak | -13.16% | -3.77% | -9.39% |
Average DrawdownAverage peak-to-trough decline | -9.01% | -8.83% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.65% | 5.47% | -0.82% |
Volatility
ITEC.L vs. SHLD.L - Volatility Comparison
SPDR® MSCI Europe Technology UCITS ETF (ITEC.L) has a higher volatility of 10.39% compared to iShares Digital Security UCITS ETF USD (Dist) (SHLD.L) at 6.89%. This indicates that ITEC.L's price experiences larger fluctuations and is considered to be riskier than SHLD.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ITEC.L | SHLD.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.39% | 6.89% | +3.50% |
Volatility (6M)Calculated over the trailing 6-month period | 22.62% | 18.07% | +4.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.73% | 21.74% | +5.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.18% | 20.89% | +5.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.13% | 20.92% | +3.21% |
ITEC.L vs. SHLD.L - Expense Ratio Comparison
ITEC.L has a 0.18% expense ratio, which is lower than SHLD.L's 0.40% expense ratio.
Dividends
ITEC.L vs. SHLD.L - Dividend Comparison
ITEC.L has not paid dividends to shareholders, while SHLD.L's dividend yield for the trailing twelve months is around 0.35%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
ITEC.L SPDR® MSCI Europe Technology UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SHLD.L iShares Digital Security UCITS ETF USD (Dist) | 0.35% | 0.39% | 0.48% | 0.43% | 0.63% | 0.66% | 0.84% | 1.00% |
Frequently Asked Questions
ITEC.L and SHLD.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ITEC.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ITEC.L is cheaper with a 0.18% expense ratio, compared with 0.40% for SHLD.L.
ITEC.L tracks MSCI World/Information Tech NR USD, while SHLD.L tracks STOXX Global Digital Security Open Net Index in USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for ITEC.L and 0.40% for SHLD.L.
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