WHEA.AS vs. XDWH.L

Last updated Jun 4, 2026

WHEA.AS (SPDR MSCI World Health Care UCITS ETF) and XDWH.L (Xtrackers MSCI World Health Care UCITS ETF 1C) are both Health & Biotech Equities funds tracking the MSCI World/Health Care NR USD, from State Street and Xtrackers respectively. Both are passively managed. Over the past 10 years, WHEA.AS returned 7.34%/yr vs 7.38%/yr for XDWH.L. Their correlation of 0.91 suggests significant overlap in exposure. WHEA.AS charges 0.30%/yr vs 0.25%/yr for XDWH.L.

Performance

WHEA.AS vs. XDWH.L - 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 Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

WHEA.AS is traded in EUR, while XDWH.L is traded in USD. To make them comparable, the XDWH.L values have been converted to EUR using the latest available exchange rates.

Returns By Period

The year-to-date returns for both investments are quite close, with WHEA.AS having a -4.62% return and XDWH.L slightly higher at -4.44%. Both investments have delivered pretty close results over the past 10 years, with WHEA.AS having a 7.34% annualized return and XDWH.L not far ahead at 7.38%.

WHEA.AS

• 1D: 0.75%
• 1M: 1.30%
• YTD: -4.62%
• 6M: -4.77%
• 1Y: 7.11%
• 3Y*: 1.83%
• 5Y*: 4.85%
• 10Y*: 7.34%

XDWH.L

• 1D: 0.67%
• 1M: 0.79%
• YTD: -4.44%
• 6M: -4.77%
• 1Y: 7.07%
• 3Y*: 1.85%
• 5Y*: 4.91%
• 10Y*: 7.38%

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

WHEA.AS vs. XDWH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WHEA.AS SPDR MSCI World Health Care UCITS ETF	-4.62%	2.03%	7.60%	0.67%	-0.70%	30.65%	3.27%	25.71%	6.68%	5.47%
XDWH.L Xtrackers MSCI World Health Care UCITS ETF 1C	-4.44%	1.57%	7.40%	0.70%	0.44%	29.58%	3.58%	25.73%	6.34%	5.40%

Correlation

The correlation between WHEA.AS and XDWH.L is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Mar 29, 2016	0.91

The correlation between WHEA.AS and XDWH.L has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

WHEA.AS vs. XDWH.L — 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: 17
WHEA.AS Sharpe Ratio Rank: 17
WHEA.AS Sortino Ratio Rank: 17
WHEA.AS Omega Ratio Rank: 16
WHEA.AS Calmar Ratio Rank: 18
WHEA.AS Martin Ratio Rank: 17

XDWH.L

XDWH.L Risk / Return Rank: 20
XDWH.L Sharpe Ratio Rank: 19
XDWH.L Sortino Ratio Rank: 20
XDWH.L Omega Ratio Rank: 19
XDWH.L Calmar Ratio Rank: 20
XDWH.L Martin Ratio Rank: 20

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. XDWH.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 Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.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	XDWH.L	Difference
Sharpe ratio: Return per unit of total volatility	0.52	0.49	+0.03
Sortino ratio: Return per unit of downside risk	0.87	0.82	+0.06
Omega ratio: Gain probability vs. loss probability	1.10	1.10	0.00
Calmar ratio: Return relative to maximum drawdown	0.68	0.70	-0.02
Martin ratio: Return relative to average drawdown	1.67	1.71	-0.04
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. XDWH.L - Sharpe Ratio Comparison

The current WHEA.AS Sharpe Ratio is 0.52, which is comparable to the XDWH.L Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of WHEA.AS and XDWH.L, 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	XDWH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.52	0.49	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.35	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.48	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.51	+0.16

Drawdowns

WHEA.AS vs. XDWH.L - Drawdown Comparison

The maximum WHEA.AS drawdown since its inception was -25.77%, roughly equal to the maximum XDWH.L drawdown of -25.61%. Use the drawdown chart below to compare losses from any high point for WHEA.AS and XDWH.L.

Drawdown Indicators

	WHEA.AS	XDWH.L	Difference
Max Drawdown Largest peak-to-trough decline	-25.77%	-25.61%	-0.16%
Max Drawdown (1Y) Largest decline over 1 year	-10.31%	-10.11%	-0.20%
Max Drawdown (3Y) Largest decline over 3 years	-21.20%	-21.19%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-21.20%	-21.19%	-0.01%
Max Drawdown (10Y) Largest decline over 10 years	-25.77%	-25.61%	-0.16%
Current Drawdown Current decline from peak	-11.05%	-10.97%	-0.08%
Average Drawdown Average peak-to-trough decline	-5.79%	-4.82%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	4.13%	+0.10%

Volatility

WHEA.AS vs. XDWH.L - Volatility Comparison

SPDR MSCI World Health Care UCITS ETF (WHEA.AS) and Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.L) have volatilities of 4.21% and 4.32%, 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

	WHEA.AS	XDWH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	4.32%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	10.22%	-0.89%
Volatility (1Y) Calculated over the trailing 1-year period	13.47%	14.40%	-0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.34%	14.03%	-0.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.50%	15.33%	-0.83%

WHEA.AS vs. XDWH.L - Expense Ratio Comparison

WHEA.AS has a 0.30% expense ratio, which is higher than XDWH.L's 0.25% expense ratio.

Dividends

WHEA.AS vs. XDWH.L - Dividend Comparison

Neither WHEA.AS nor XDWH.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.94, WHEA.AS and XDWH.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.

Which ETF is better, WHEA.AS or XDWH.L?

On fees, XDWH.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WHEA.AS or XDWH.L?

XDWH.L is cheaper with a 0.25% expense ratio, compared with 0.30% for WHEA.AS.

What is the main difference between WHEA.AS and XDWH.L?

Both ETFs track MSCI World/Health Care NR USD. They also come from different issuers: State Street and Xtrackers. Their fees differ too: 0.30% for WHEA.AS and 0.25% for XDWH.L.