WHEA.AS vs. WFIN.AS

Last updated Jun 5, 2026

WHEA.AS (SPDR MSCI World Health Care UCITS ETF) and WFIN.AS (SPDR MSCI World Financials UCITS ETF) are both exchange-traded funds - WHEA.AS is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while WFIN.AS is a Financials Equities fund tracking the MSCI World/Financials NR USD. Both are passively managed. Over the past 10 years, WHEA.AS returned 7.60%/yr vs 11.87%/yr for WFIN.AS. A 0.62 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.

Performance

WHEA.AS vs. WFIN.AS - 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 SPDR MSCI World Financials UCITS ETF (WFIN.AS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WHEA.AS achieves a -1.97% return, which is significantly lower than WFIN.AS's 1.19% return. Over the past 10 years, WHEA.AS has underperformed WFIN.AS with an annualized return of 7.60%, while WFIN.AS has yielded a comparatively higher 11.87% annualized 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%

WFIN.AS

• 1D: 1.74%
• 1M: 2.38%
• YTD: 1.19%
• 6M: 4.60%
• 1Y: 12.39%
• 3Y*: 20.80%
• 5Y*: 12.79%
• 10Y*: 11.87%

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

WHEA.AS vs. WFIN.AS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WHEA.AS SPDR MSCI World Health Care UCITS ETF	-1.97%	2.03%	7.60%	0.67%	-0.70%	30.65%	3.27%	25.71%	6.68%	5.47%
WFIN.AS SPDR MSCI World Financials UCITS ETF	1.19%	14.32%	35.51%	11.89%	-4.62%	39.49%	-11.39%	27.43%	-12.91%	7.84%

Correlation

The correlation between WHEA.AS and WFIN.AS is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Feb 25, 2009	0.62

Over the past year, the correlation between WHEA.AS and WFIN.AS has dropped to 0.40 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

Return for Risk

WHEA.AS vs. WFIN.AS — 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

WFIN.AS

WFIN.AS Risk / Return Rank: 27
WFIN.AS Sharpe Ratio Rank: 27
WFIN.AS Sortino Ratio Rank: 27
WFIN.AS Omega Ratio Rank: 26
WFIN.AS Calmar Ratio Rank: 27
WFIN.AS Martin Ratio Rank: 28

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. WFIN.AS - 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 Financials UCITS ETF (WFIN.AS). 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	WFIN.AS	Difference
Sharpe ratio: Return per unit of total volatility	0.69	0.96	-0.27
Sortino ratio: Return per unit of downside risk	1.13	1.42	-0.29
Omega ratio: Gain probability vs. loss probability	1.13	1.17	-0.04
Calmar ratio: Return relative to maximum drawdown	0.92	1.27	-0.35
Martin ratio: Return relative to average drawdown	2.24	3.92	-1.68
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. WFIN.AS - Sharpe Ratio Comparison

The current WHEA.AS Sharpe Ratio is 0.69, which is comparable to the WFIN.AS Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of WHEA.AS and WFIN.AS, 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	WFIN.AS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.96	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.78	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.60	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.20	+0.48

Drawdowns

WHEA.AS vs. WFIN.AS - Drawdown Comparison

The maximum WHEA.AS drawdown since its inception was -25.77%, smaller than the maximum WFIN.AS drawdown of -72.88%. Use the drawdown chart below to compare losses from any high point for WHEA.AS and WFIN.AS.

Drawdown Indicators

	WHEA.AS	WFIN.AS	Difference
Max Drawdown Largest peak-to-trough decline	-25.77%	-72.88%	+47.11%
Max Drawdown (1Y) Largest decline over 1 year	-10.31%	-9.65%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-21.20%	-19.52%	-1.68%
Max Drawdown (5Y) Largest decline over 5 years	-21.20%	-19.52%	-1.68%
Max Drawdown (10Y) Largest decline over 10 years	-25.77%	-42.00%	+16.23%
Current Drawdown Current decline from peak	-8.58%	-1.06%	-7.52%
Average Drawdown Average peak-to-trough decline	-5.79%	-18.72%	+12.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	3.12%	+1.12%

Volatility

WHEA.AS vs. WFIN.AS - Volatility Comparison

SPDR MSCI World Health Care UCITS ETF (WHEA.AS) has a higher volatility of 4.99% compared to SPDR MSCI World Financials UCITS ETF (WFIN.AS) at 3.27%. This indicates that WHEA.AS's price experiences larger fluctuations and is considered to be riskier than WFIN.AS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHEA.AS	WFIN.AS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	3.27%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	9.73%	9.64%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.73%	12.81%	+0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.39%	16.19%	-2.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.53%	19.45%	-4.92%

WHEA.AS vs. WFIN.AS - Expense Ratio Comparison

Both WHEA.AS and WFIN.AS have an expense ratio of 0.30%.

Dividends

WHEA.AS vs. WFIN.AS - Dividend Comparison

Neither WHEA.AS nor WFIN.AS has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

WHEA.AS and WFIN.AS have a correlation of 0.40, 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 WFIN.AS?

Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WHEA.AS or WFIN.AS?

WHEA.AS and WFIN.AS have the same expense ratio: 0.30% per year.

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

WHEA.AS is categorized as Health & Biotech Equities, while WFIN.AS is Financials Equities. WHEA.AS tracks MSCI World/Health Care NR USD, while WFIN.AS tracks MSCI World/Financials NR USD.