IUHC.L vs. GXLV.L

Last updated Jun 5, 2026

IUHC.L (iShares S&P 500 Health Care Sector UCITS ETF USD (Acc)) and GXLV.L (SPDR S&P US Health Care Select Sector UCITS ETF) are both Health & Biotech Equities funds - IUHC.L tracks the S&P 500 Capped 35/20 Health Care Index while GXLV.L tracks the MSCI World/Health Care NR USD. Both are passively managed. Over the past 3 years, IUHC.L returned 6.58%/yr vs 6.46%/yr for GXLV.L. At a 0.48 correlation, their price movements are largely independent. Both charge a 0.15% expense ratio.

Performance

IUHC.L vs. GXLV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IUHC.L) and SPDR S&P US Health Care Select Sector UCITS ETF (GXLV.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IUHC.L is traded in USD, while GXLV.L is traded in GBP. To make them comparable, the GXLV.L values have been converted to USD using the latest available exchange rates.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with IUHC.L at -2.09% and GXLV.L at -2.09%.

IUHC.L

• 1D: 3.00%
• 1M: 4.72%
• YTD: -2.09%
• 6M: -0.45%
• 1Y: 15.03%
• 3Y*: 6.58%
• 5Y*: 5.75%
• 10Y*: 9.20%

GXLV.L

• 1D: 3.02%
• 1M: 4.77%
• YTD: -2.09%
• 6M: -1.61%
• 1Y: 15.02%
• 3Y*: 6.46%
• 5Y*: —
• 10Y*: —

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

IUHC.L vs. GXLV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IUHC.L iShares S&P 500 Health Care Sector UCITS ETF USD (Acc)	-2.09%	14.67%	2.16%	1.72%	-0.85%
GXLV.L SPDR S&P US Health Care Select Sector UCITS ETF	-2.09%	14.98%	1.79%	1.36%	-0.30%

Correlation

The correlation between IUHC.L and GXLV.L is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022	0.48

The correlation between IUHC.L and GXLV.L shifts across timeframes, from 0.48 (all time) to 0.61 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IUHC.L vs. GXLV.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IUHC.L

IUHC.L Risk / Return Rank: 29
IUHC.L Sharpe Ratio Rank: 29
IUHC.L Sortino Ratio Rank: 30
IUHC.L Omega Ratio Rank: 27
IUHC.L Calmar Ratio Rank: 30
IUHC.L Martin Ratio Rank: 27

GXLV.L

GXLV.L Risk / Return Rank: 38
GXLV.L Sharpe Ratio Rank: 38
GXLV.L Sortino Ratio Rank: 41
GXLV.L Omega Ratio Rank: 37
GXLV.L Calmar Ratio Rank: 44
GXLV.L Martin Ratio Rank: 32

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.

IUHC.L vs. GXLV.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) (IUHC.L) and SPDR S&P US Health Care Select Sector UCITS ETF (GXLV.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.

	IUHC.L	GXLV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.00	1.29	-0.29
Sortino ratio: Return per unit of downside risk	1.60	2.09	-0.50
Omega ratio: Gain probability vs. loss probability	1.18	1.24	-0.06
Calmar ratio: Return relative to maximum drawdown	1.43	2.21	-0.77
Martin ratio: Return relative to average drawdown	3.57	4.88	-1.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IUHC.L vs. GXLV.L - Sharpe Ratio Comparison

The current IUHC.L Sharpe Ratio is 1.00, which is comparable to the GXLV.L Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of IUHC.L and GXLV.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

	IUHC.L	GXLV.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.29	-0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.37	+0.20

Drawdowns

IUHC.L vs. GXLV.L - Drawdown Comparison

The maximum IUHC.L drawdown since its inception was -27.44%, which is greater than GXLV.L's maximum drawdown of -17.58%. Use the drawdown chart below to compare losses from any high point for IUHC.L and GXLV.L.

Drawdown Indicators

	IUHC.L	GXLV.L	Difference
Max Drawdown Largest peak-to-trough decline	-27.44%	-17.58%	-9.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.44%	-10.45%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-17.63%	-17.58%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-17.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-27.44%	—	—
Current Drawdown Current decline from peak	-4.57%	-4.72%	+0.15%
Average Drawdown Average peak-to-trough decline	-4.90%	-6.19%	+1.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	7.67%	-3.47%

Volatility

IUHC.L vs. GXLV.L - Volatility Comparison

iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IUHC.L) and SPDR S&P US Health Care Select Sector UCITS ETF (GXLV.L) have volatilities of 4.89% and 4.91%, 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.

Volatility by Period

	IUHC.L	GXLV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	4.91%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.81%	11.87%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	15.00%	17.95%	-2.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	21.66%	-6.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.71%	21.66%	-5.95%

IUHC.L vs. GXLV.L - Expense Ratio Comparison

Both IUHC.L and GXLV.L have an expense ratio of 0.15%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

IUHC.L vs. GXLV.L - Dividend Comparison

Neither IUHC.L nor GXLV.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IUHC.L and GXLV.L in my portfolio?

IUHC.L and GXLV.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IUHC.L or GXLV.L?

Both ETFs have the same 0.15% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IUHC.L or GXLV.L?

IUHC.L and GXLV.L have the same expense ratio: 0.15% per year.

What is the main difference between IUHC.L and GXLV.L?

IUHC.L tracks S&P 500 Capped 35/20 Health Care Index, while GXLV.L tracks MSCI World/Health Care NR USD. They also come from different issuers: iShares and State Street.