SBIO.L vs. BTEC.L
SBIO.L (Invesco Nasdaq Biotech UCITS ETF) and BTEC.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Acc)) are both Health & Biotech Equities funds - SBIO.L tracks the NASDAQ Biotechnology TR USD while BTEC.L tracks the NASDAQ Biotechnology NET Index. Both are passively managed. Over the past 5 years, SBIO.L returned 5.79%/yr vs 5.87%/yr for BTEC.L. With a 0.97 correlation, they move nearly in lockstep. SBIO.L charges 0.40%/yr vs 0.35%/yr for BTEC.L.
Performance
SBIO.L vs. BTEC.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SBIO.L having a 14.76% return and BTEC.L slightly higher at 15.22%.
SBIO.L
- 1D
- 0.44%
- 1M
- 9.18%
- 6M
- 12.82%
- YTD
- 14.76%
- 1Y
- 49.55%
- 3Y*
- 17.44%
- 5Y*
- 5.79%
- 10Y*
- 8.95%
BTEC.L
- 1D
- 0.68%
- 1M
- 9.55%
- 6M
- 13.18%
- YTD
- 15.22%
- 1Y
- 50.31%
- 3Y*
- 16.99%
- 5Y*
- 5.87%
- 10Y*
- —
SBIO.L vs. BTEC.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBIO.L Invesco Nasdaq Biotech UCITS ETF | 14.76% | 32.89% | -2.00% | 6.15% | -11.85% | -0.49% | 27.35% | 25.54% | -11.34% | -3.53% |
BTEC.L iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) | 15.22% | 32.96% | -2.04% | 6.22% | -11.92% | -0.49% | 27.40% | 25.57% | -11.22% | -3.31% |
Correlation
The correlation between SBIO.L and BTEC.L is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2017 | 0.97 |
The correlation between SBIO.L and BTEC.L has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
SBIO.L vs. BTEC.L — Risk / Return Rank
SBIO.L
BTEC.L
SBIO.L vs. BTEC.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotech UCITS ETF (SBIO.L) and iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.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.
| SBIO.L | BTEC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 6.45 | 6.22 | +0.23 |
| Martin ratioReturn relative to average drawdown | 19.17 | 19.15 | +0.02 |
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Drawdowns
SBIO.L vs. BTEC.L - Drawdown Comparison
The maximum SBIO.L drawdown since its inception was -39.44%, roughly equal to the maximum BTEC.L drawdown of -38.42%. Use the drawdown chart below to compare losses from any high point for SBIO.L and BTEC.L.
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Drawdown Indicators
| SBIO.L | BTEC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.44% | -38.42% | -1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -7.65% | -7.94% | +0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -26.89% | -26.74% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -38.33% | -38.42% | +0.09% |
Max Drawdown (10Y)Largest decline over 10 years | -38.33% | — | — |
Current DrawdownCurrent decline from peak | -4.15% | -3.87% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -16.68% | -13.22% | -3.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 2.58% | 0.00% |
Volatility
SBIO.L vs. BTEC.L - Volatility Comparison
Invesco Nasdaq Biotech UCITS ETF (SBIO.L) has a higher volatility of 6.42% compared to iShares Nasdaq US Biotechnology UCITS ETF USD (Acc) (BTEC.L) at 5.91%. This indicates that SBIO.L's price experiences larger fluctuations and is considered to be riskier than BTEC.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBIO.L | BTEC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.42% | 5.91% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 15.51% | 15.67% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.35% | 20.42% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.26% | 21.39% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.15% | 22.37% | -0.22% |
SBIO.L vs. BTEC.L - Expense Ratio Comparison
SBIO.L has a 0.40% expense ratio, which is higher than BTEC.L's 0.35% expense ratio.
Dividends
SBIO.L vs. BTEC.L - Dividend Comparison
Neither SBIO.L nor BTEC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.99, SBIO.L and BTEC.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, BTEC.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BTEC.L is cheaper with a 0.35% expense ratio, compared with 0.40% for SBIO.L.
SBIO.L tracks NASDAQ Biotechnology TR USD, while BTEC.L tracks NASDAQ Biotechnology NET Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.40% for SBIO.L and 0.35% for BTEC.L.
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