WHEA.AS vs. HEAW.L
WHEA.AS (SPDR MSCI World Health Care UCITS ETF) and HEAW.L (SPDR MSCI World Health Care UCITS ETF) are both Health & Biotech Equities funds from State Street tracking the MSCI World/Health Care NR USD. Both are passively managed. Over the past 3 years, WHEA.AS returned 2.59%/yr vs 2.55%/yr for HEAW.L. Their correlation of 0.94 suggests significant overlap in exposure. Both charge a 0.30% expense ratio.
Performance
WHEA.AS vs. HEAW.L - Performance Comparison
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Different Trading Currencies
WHEA.AS is traded in EUR, while HEAW.L is traded in GBP. To make them comparable, the HEAW.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, WHEA.AS achieves a -1.97% return, which is significantly lower than HEAW.L's -1.86% return.
WHEA.AS
- 1D
- 2.78%
- 1M
- 3.81%
- YTD
- -1.97%
- 6M
- -1.50%
- 1Y
- 9.57%
- 3Y*
- 2.59%
- 5Y*
- 5.42%
- 10Y*
- 7.60%
HEAW.L
- 1D
- 2.91%
- 1M
- 4.13%
- YTD
- -1.86%
- 6M
- -1.26%
- 1Y
- 9.74%
- 3Y*
- 2.55%
- 5Y*
- —
- 10Y*
- —
WHEA.AS vs. HEAW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
WHEA.AS SPDR MSCI World Health Care UCITS ETF | -1.97% | 2.03% | 7.60% | 0.67% | -0.74% |
HEAW.L SPDR MSCI World Health Care UCITS ETF | -1.86% | 1.85% | 7.47% | 0.03% | -0.01% |
Correlation
The correlation between WHEA.AS and HEAW.L is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.94 |
The correlation between WHEA.AS and HEAW.L has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
WHEA.AS vs. HEAW.L — Risk / Return Rank
WHEA.AS
HEAW.L
WHEA.AS vs. HEAW.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Health Care UCITS ETF (WHEA.AS) and SPDR MSCI World Health Care UCITS ETF (HEAW.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.
| WHEA.AS | HEAW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.13 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.93 | -0.02 |
| Martin ratioReturn relative to average drawdown | 2.24 | 2.30 | -0.06 |
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
| WHEA.AS | HEAW.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.69 | 0.70 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.13 | +0.55 |
Drawdowns
WHEA.AS vs. HEAW.L - Drawdown Comparison
The maximum WHEA.AS drawdown since its inception was -25.77%, which is greater than HEAW.L's maximum drawdown of -21.25%. Use the drawdown chart below to compare losses from any high point for WHEA.AS and HEAW.L.
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Drawdown Indicators
| WHEA.AS | HEAW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.77% | -21.25% | -4.52% |
Max Drawdown (1Y)Largest decline over 1 year | -10.31% | -10.39% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -21.20% | -21.25% | +0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -21.20% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -25.77% | — | — |
Current DrawdownCurrent decline from peak | -8.58% | -8.53% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -5.79% | -6.61% | +0.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.24% | 4.22% | +0.02% |
Volatility
WHEA.AS vs. HEAW.L - Volatility Comparison
SPDR MSCI World Health Care UCITS ETF (WHEA.AS) and SPDR MSCI World Health Care UCITS ETF (HEAW.L) have volatilities of 4.99% 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.
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Volatility by Period
| WHEA.AS | HEAW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 4.91% | +0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 9.73% | 9.67% | +0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 13.77% | -0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.39% | 13.36% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.53% | 13.36% | +1.17% |
WHEA.AS vs. HEAW.L - Expense Ratio Comparison
Both WHEA.AS and HEAW.L have an expense ratio of 0.30%.
Dividends
WHEA.AS vs. HEAW.L - Dividend Comparison
Neither WHEA.AS nor HEAW.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.97, WHEA.AS and HEAW.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.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
WHEA.AS and HEAW.L have the same expense ratio: 0.30% per year.
Both ETFs track MSCI World/Health Care NR USD.
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