IWDA.L vs. HEAE.L
IWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) and HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) are both exchange-traded funds - IWDA.L is a Global Equities fund tracking the MSCI World Index (Net), 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, IWDA.L returned 13.34%/yr vs 4.85%/yr for HEAE.L. A 0.54 correlation means they provide meaningful diversification when combined. IWDA.L charges 0.20%/yr vs 0.18%/yr for HEAE.L.
Performance
IWDA.L vs. HEAE.L - Performance Comparison
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Different Trading Currencies
IWDA.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, IWDA.L achieves a 8.48% return, which is significantly higher than HEAE.L's -1.78% return. Over the past 10 years, IWDA.L has outperformed HEAE.L with an annualized return of 13.34%, while HEAE.L has yielded a comparatively lower 4.85% annualized return.
IWDA.L
- 1D
- 2.15%
- 1M
- -0.15%
- YTD
- 8.48%
- 6M
- 9.90%
- 1Y
- 23.88%
- 3Y*
- 19.55%
- 5Y*
- 11.47%
- 10Y*
- 13.34%
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%
IWDA.L vs. HEAE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWDA.L iShares Core MSCI World UCITS ETF USD (Acc) | 8.48% | 21.03% | 19.11% | 24.27% | -18.11% | 22.19% | 16.06% | 27.13% | -9.01% | 22.75% |
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 IWDA.L and HEAE.L is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
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 | 0.54 |
The correlation between IWDA.L and HEAE.L shifts across timeframes, from 0.43 (1 year) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IWDA.L vs. HEAE.L — Risk / Return Rank
IWDA.L
HEAE.L
IWDA.L vs. HEAE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.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.
| IWDA.L | HEAE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.06 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 0.33 | +2.47 |
| Martin ratioReturn relative to average drawdown | 11.55 | 0.75 | +10.80 |
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Drawdowns
IWDA.L vs. HEAE.L - Drawdown Comparison
The maximum IWDA.L drawdown since its inception was -34.11%, smaller than the maximum HEAE.L drawdown of -39.87%. Use the drawdown chart below to compare losses from any high point for IWDA.L and HEAE.L.
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Drawdown Indicators
| IWDA.L | HEAE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.11% | -39.87% | +5.76% |
Max Drawdown (1Y)Largest decline over 1 year | -8.31% | -14.74% | +6.43% |
Max Drawdown (3Y)Largest decline over 3 years | -16.94% | -26.29% | +9.35% |
Max Drawdown (5Y)Largest decline over 5 years | -25.88% | -38.55% | +12.67% |
Max Drawdown (10Y)Largest decline over 10 years | -34.11% | -38.55% | +4.44% |
Current DrawdownCurrent decline from peak | -1.65% | -11.01% | +9.36% |
Average DrawdownAverage peak-to-trough decline | -4.41% | -13.11% | +8.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 6.65% | -4.63% |
Volatility
IWDA.L vs. HEAE.L - Volatility Comparison
The current volatility for iShares Core MSCI World UCITS ETF USD (Acc) (IWDA.L) is 3.96%, while SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) has a volatility of 5.18%. This indicates that IWDA.L experiences smaller price fluctuations and is considered to be less risky than HEAE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWDA.L | HEAE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.96% | 5.18% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 9.61% | 13.19% | -3.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.26% | 18.28% | -6.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.72% | 18.60% | -2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.92% | 18.77% | -2.85% |
IWDA.L vs. HEAE.L - Expense Ratio Comparison
IWDA.L has a 0.20% expense ratio, which is higher than HEAE.L's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IWDA.L vs. HEAE.L - Dividend Comparison
Neither IWDA.L nor HEAE.L has paid dividends to shareholders.
Frequently Asked Questions
IWDA.L and HEAE.L have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEAE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEAE.L is cheaper with a 0.18% expense ratio, compared with 0.20% for IWDA.L.
IWDA.L is categorized as Global Equities, while HEAE.L is Health & Biotech Equities. IWDA.L tracks MSCI World Index (Net), while HEAE.L tracks MSCI World/Health Care NR USD. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for IWDA.L and 0.18% for HEAE.L.
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