SPYH.DE vs. W311.DE

Last updated Jun 5, 2026

SPYH.DE (SPDR MSCI Europe Health Care UCITS ETF) and W311.DE (HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF) are both Health & Biotech Equities funds - SPYH.DE tracks the MSCI Europe Health Care 20/35 Capped while W311.DE tracks the Indxx Global NextGen Healthcare. Both are passively managed. Over the past 5 years, SPYH.DE returned 5.81%/yr vs -5.98%/yr for W311.DE. A 0.53 correlation means they provide meaningful diversification when combined. SPYH.DE charges 0.18%/yr vs 0.59%/yr for W311.DE.

Performance

SPYH.DE vs. W311.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE) and HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF (W311.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPYH.DE achieves a -1.97% return, which is significantly higher than W311.DE's -3.63% return.

SPYH.DE

• 1D: 3.34%
• 1M: 0.41%
• YTD: -1.97%
• 6M: -0.47%
• 1Y: 6.02%
• 3Y*: 2.85%
• 5Y*: 5.81%
• 10Y*: 6.16%

W311.DE

• 1D: 3.38%
• 1M: 1.14%
• YTD: -3.63%
• 6M: -7.26%
• 1Y: 11.36%
• 3Y*: -2.49%
• 5Y*: -5.98%
• 10Y*: —

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

SPYH.DE vs. W311.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SPYH.DE SPDR MSCI Europe Health Care UCITS ETF	-1.97%	7.82%	3.98%	7.88%	-4.55%	25.71%	-2.51%	19.47%
W311.DE HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF	-3.63%	7.18%	-4.84%	-0.30%	-25.93%	1.52%	14.63%	15.38%

Correlation

The correlation between SPYH.DE and W311.DE is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since May 3, 2019	0.53

The correlation between SPYH.DE and W311.DE has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

Return for Risk

SPYH.DE vs. W311.DE — Risk / Return Rank

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

SPYH.DE

SPYH.DE Risk / Return Rank: 15
SPYH.DE Sharpe Ratio Rank: 15
SPYH.DE Sortino Ratio Rank: 15
SPYH.DE Omega Ratio Rank: 15
SPYH.DE Calmar Ratio Rank: 15
SPYH.DE Martin Ratio Rank: 15

W311.DE

W311.DE Risk / Return Rank: 18
W311.DE Sharpe Ratio Rank: 19
W311.DE Sortino Ratio Rank: 20
W311.DE Omega Ratio Rank: 18
W311.DE Calmar Ratio Rank: 18
W311.DE Martin Ratio Rank: 17

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.

SPYH.DE vs. W311.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE) and HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF (W311.DE). 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.

	SPYH.DE	W311.DE	Difference
Sharpe ratio: Return per unit of total volatility	0.37	0.59	-0.22
Sortino ratio: Return per unit of downside risk	0.67	0.97	-0.31
Omega ratio: Gain probability vs. loss probability	1.08	1.11	-0.03
Calmar ratio: Return relative to maximum drawdown	0.50	0.69	-0.19
Martin ratio: Return relative to average drawdown	1.10	1.61	-0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYH.DE vs. W311.DE - Sharpe Ratio Comparison

The current SPYH.DE Sharpe Ratio is 0.37, which is lower than the W311.DE Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of SPYH.DE and W311.DE, 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

	SPYH.DE	W311.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	0.59	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	-0.26	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	-0.02	+0.44

Drawdowns

SPYH.DE vs. W311.DE - Drawdown Comparison

The maximum SPYH.DE drawdown since its inception was -26.62%, smaller than the maximum W311.DE drawdown of -48.92%. Use the drawdown chart below to compare losses from any high point for SPYH.DE and W311.DE.

Drawdown Indicators

	SPYH.DE	W311.DE	Difference
Max Drawdown Largest peak-to-trough decline	-26.62%	-48.92%	+22.30%
Max Drawdown (1Y) Largest decline over 1 year	-12.58%	-16.09%	+3.51%
Max Drawdown (3Y) Largest decline over 3 years	-26.62%	-28.36%	+1.74%
Max Drawdown (5Y) Largest decline over 5 years	-26.62%	-48.92%	+22.30%
Max Drawdown (10Y) Largest decline over 10 years	-26.62%	—	—
Current Drawdown Current decline from peak	-10.72%	-35.40%	+24.68%
Average Drawdown Average peak-to-trough decline	-8.61%	-23.20%	+14.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	6.93%	-1.20%

Volatility

SPYH.DE vs. W311.DE - Volatility Comparison

SPDR MSCI Europe Health Care UCITS ETF (SPYH.DE) and HANetf HAN-GINS Indxx Healthcare Megatrend Equal Weight UCITS ETF (W311.DE) have volatilities of 6.01% and 6.31%, 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

	SPYH.DE	W311.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	6.31%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	12.04%	13.92%	-1.88%
Volatility (1Y) Calculated over the trailing 1-year period	17.05%	18.96%	-1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.76%	22.38%	-6.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.82%	22.73%	-6.91%

SPYH.DE vs. W311.DE - Expense Ratio Comparison

SPYH.DE has a 0.18% expense ratio, which is lower than W311.DE's 0.59% expense ratio.

Dividends

SPYH.DE vs. W311.DE - Dividend Comparison

Neither SPYH.DE nor W311.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SPYH.DE and W311.DE in my portfolio?

SPYH.DE and W311.DE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPYH.DE or W311.DE?

On fees, SPYH.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPYH.DE or W311.DE?

SPYH.DE is cheaper with a 0.18% expense ratio, compared with 0.59% for W311.DE.

What is the main difference between SPYH.DE and W311.DE?

SPYH.DE tracks MSCI Europe Health Care 20/35 Capped, while W311.DE tracks Indxx Global NextGen Healthcare. They also come from different issuers: State Street and HANetf. Their fees differ too: 0.18% for SPYH.DE and 0.59% for W311.DE.