WHEA.AS vs. MLPD

Last updated Jun 5, 2026

WHEA.AS (SPDR MSCI World Health Care UCITS ETF) and MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) are both exchange-traded funds - WHEA.AS is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while MLPD is a Derivative Income fund tracking the Cboe MLPX ATM BuyWrite Index. Both are passively managed. Over the past year, WHEA.AS returned 9.57% vs 14.75% for MLPD. At a 0.14 correlation, their price movements are largely independent. WHEA.AS charges 0.30%/yr vs 0.60%/yr for MLPD.

Performance

WHEA.AS vs. MLPD - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in SPDR MSCI World Health Care UCITS ETF (WHEA.AS) and Global X MLP & Energy Infrastructure Covered Call ETF (MLPD). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WHEA.AS is traded in EUR, while MLPD is traded in USD. To make them comparable, the MLPD 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 MLPD's 7.32% 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%

MLPD

• 1D: 0.73%
• 1M: 1.27%
• YTD: 7.32%
• 6M: 7.47%
• 1Y: 14.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

WHEA.AS vs. MLPD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
WHEA.AS SPDR MSCI World Health Care UCITS ETF	-1.97%	2.03%	-0.14%
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	7.32%	-1.50%	13.61%

Correlation

The correlation between WHEA.AS and MLPD is 0.09, 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	0.09
Correlation (All Time) Calculated using the full available price history since May 9, 2024	0.14

Return for Risk

WHEA.AS vs. MLPD — Risk / Return Rank

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

WHEA.AS

WHEA.AS Risk / Return Rank: 21
WHEA.AS Sharpe Ratio Rank: 21
WHEA.AS Sortino Ratio Rank: 22
WHEA.AS Omega Ratio Rank: 20
WHEA.AS Calmar Ratio Rank: 21
WHEA.AS Martin Ratio Rank: 20

MLPD

MLPD Risk / Return Rank: 69
MLPD Sharpe Ratio Rank: 70
MLPD Sortino Ratio Rank: 67
MLPD Omega Ratio Rank: 74
MLPD Calmar Ratio Rank: 71
MLPD Martin Ratio Rank: 64

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.

WHEA.AS vs. MLPD - 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 Global X MLP & Energy Infrastructure Covered Call ETF (MLPD). 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	MLPD	Difference
Sharpe ratio: Return per unit of total volatility	0.69	1.51	-0.82
Sortino ratio: Return per unit of downside risk	1.13	2.02	-0.89
Omega ratio: Gain probability vs. loss probability	1.13	1.27	-0.14
Calmar ratio: Return relative to maximum drawdown	0.92	2.56	-1.64
Martin ratio: Return relative to average drawdown	2.24	7.77	-5.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WHEA.AS vs. MLPD - Sharpe Ratio Comparison

The current WHEA.AS Sharpe Ratio is 0.69, which is lower than the MLPD Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of WHEA.AS and MLPD, 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

	WHEA.AS	MLPD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	1.51	-0.82
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	0.68	0.00

Drawdowns

WHEA.AS vs. MLPD - Drawdown Comparison

The maximum WHEA.AS drawdown since its inception was -25.77%, which is greater than MLPD's maximum drawdown of -17.94%. Use the drawdown chart below to compare losses from any high point for WHEA.AS and MLPD.

Drawdown Indicators

	WHEA.AS	MLPD	Difference
Max Drawdown Largest peak-to-trough decline	-25.77%	-17.94%	-7.83%
Max Drawdown (1Y) Largest decline over 1 year	-10.31%	-5.80%	-4.51%
Max Drawdown (3Y) Largest decline over 3 years	-21.20%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-25.77%	—	—
Current Drawdown Current decline from peak	-8.58%	-1.23%	-7.35%
Average Drawdown Average peak-to-trough decline	-5.79%	-4.01%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	1.90%	+2.34%

Volatility

WHEA.AS vs. MLPD - Volatility Comparison

SPDR MSCI World Health Care UCITS ETF (WHEA.AS) has a higher volatility of 4.99% compared to Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) at 3.53%. This indicates that WHEA.AS's price experiences larger fluctuations and is considered to be riskier than MLPD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHEA.AS	MLPD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	3.53%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	9.73%	7.03%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.73%	9.86%	+3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.39%	13.74%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.53%	13.74%	+0.79%

WHEA.AS vs. MLPD - Expense Ratio Comparison

WHEA.AS has a 0.30% expense ratio, which is lower than MLPD's 0.60% expense ratio.

Dividends

WHEA.AS vs. MLPD - Dividend Comparison

WHEA.AS has not paid dividends to shareholders, while MLPD's dividend yield for the trailing twelve months is around 13.33%.

Position	TTM	2025	2024
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	13.33%	13.45%	6.68%
WHEA.AS SPDR MSCI World Health Care UCITS ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WHEA.AS and MLPD in my portfolio?

WHEA.AS and MLPD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WHEA.AS or MLPD?

On fees, WHEA.AS is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WHEA.AS or MLPD?

WHEA.AS is cheaper with a 0.30% expense ratio, compared with 0.60% for MLPD.

What is the main difference between WHEA.AS and MLPD?

WHEA.AS is categorized as Health & Biotech Equities, while MLPD is Derivative Income. WHEA.AS tracks MSCI World/Health Care NR USD, while MLPD tracks Cboe MLPX ATM BuyWrite Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.30% for WHEA.AS and 0.60% for MLPD.