WH2E.DE vs. SMLD.DE
WH2E.DE (Invesco S&P World Health Care ESG UCITS ETF Acc) and SMLD.DE (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist) are both exchange-traded funds - WH2E.DE is a Health & Biotech Equities fund tracking the S&P Developed Ex-Korea LargeMidCap ESG Enhanced Health Care, while SMLD.DE is a Energy Equities fund tracking the Morningstar MLP Composite. Both are passively managed. Over the past 3 years, WH2E.DE returned 3.13%/yr vs 20.56%/yr for SMLD.DE. At a 0.20 correlation, their price movements are largely independent. WH2E.DE charges 0.18%/yr vs 0.50%/yr for SMLD.DE.
Performance
WH2E.DE vs. SMLD.DE - Performance Comparison
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Returns By Period
In the year-to-date period, WH2E.DE achieves a -3.24% return, which is significantly lower than SMLD.DE's 20.75% return.
WH2E.DE
- 1D
- 2.76%
- 1M
- 4.00%
- YTD
- -3.24%
- 6M
- -2.44%
- 1Y
- 10.44%
- 3Y*
- 3.13%
- 5Y*
- —
- 10Y*
- —
SMLD.DE
- 1D
- -0.66%
- 1M
- 3.73%
- YTD
- 20.75%
- 6M
- 13.95%
- 1Y
- 14.71%
- 3Y*
- 20.56%
- 5Y*
- 25.24%
- 10Y*
- 15.33%
WH2E.DE vs. SMLD.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
WH2E.DE Invesco S&P World Health Care ESG UCITS ETF Acc | -3.24% | 2.78% | 7.94% | 1.68% |
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 20.75% | -8.86% | 35.22% | 20.50% |
Correlation
The correlation between WH2E.DE and SMLD.DE is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023 | 0.20 |
The correlation between WH2E.DE and SMLD.DE shifts across timeframes, from -0.01 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WH2E.DE vs. SMLD.DE — Risk / Return Rank
WH2E.DE
SMLD.DE
WH2E.DE vs. SMLD.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P World Health Care ESG UCITS ETF Acc (WH2E.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.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.
| WH2E.DE | SMLD.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.17 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.15 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.83 | 0.92 | -0.10 |
| Martin ratioReturn relative to average drawdown | 2.15 | 1.91 | +0.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| WH2E.DE | SMLD.DE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.68 | 0.51 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.10 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.44 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.29 | -0.09 |
Drawdowns
WH2E.DE vs. SMLD.DE - Drawdown Comparison
The maximum WH2E.DE drawdown since its inception was -22.19%, smaller than the maximum SMLD.DE drawdown of -73.78%. Use the drawdown chart below to compare losses from any high point for WH2E.DE and SMLD.DE.
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Drawdown Indicators
| WH2E.DE | SMLD.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.19% | -73.78% | +51.59% |
Max Drawdown (1Y)Largest decline over 1 year | -12.23% | -14.77% | +2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -22.19% | -22.99% | +0.80% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.99% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -70.79% | — |
Current DrawdownCurrent decline from peak | -10.45% | -3.47% | -6.98% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -17.76% | +10.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.73% | 7.16% | -2.43% |
Volatility
WH2E.DE vs. SMLD.DE - Volatility Comparison
Invesco S&P World Health Care ESG UCITS ETF Acc (WH2E.DE) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist (SMLD.DE) have volatilities of 5.21% and 5.38%, 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.
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Volatility by Period
| WH2E.DE | SMLD.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 5.38% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.46% | 12.79% | -2.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.86% | 26.64% | -11.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.91% | 22.60% | -8.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.91% | 34.70% | -20.79% |
WH2E.DE vs. SMLD.DE - Expense Ratio Comparison
WH2E.DE has a 0.18% expense ratio, which is lower than SMLD.DE's 0.50% expense ratio.
Dividends
WH2E.DE vs. SMLD.DE - Dividend Comparison
WH2E.DE has not paid dividends to shareholders, while SMLD.DE's dividend yield for the trailing twelve months is around 7.55%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMLD.DE Invesco Morningstar US Energy Infrastructure MLP UCITS ETF Dist | 7.55% | 8.45% | 12.45% | 18.33% | 14.40% | 17.94% | 25.01% | 18.21% | 21.61% | 18.39% | 14.39% | 20.63% |
WH2E.DE Invesco S&P World Health Care ESG UCITS ETF Acc | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WH2E.DE and SMLD.DE have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WH2E.DE is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WH2E.DE is cheaper with a 0.18% expense ratio, compared with 0.50% for SMLD.DE.
WH2E.DE is categorized as Health & Biotech Equities, while SMLD.DE is Energy Equities. WH2E.DE tracks S&P Developed Ex-Korea LargeMidCap ESG Enhanced Health Care, while SMLD.DE tracks Morningstar MLP Composite. Their fees differ too: 0.18% for WH2E.DE and 0.50% for SMLD.DE.
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