WHEA.L vs. BTEE.L
WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) and BTEE.L (iShares Nasdaq US Biotechnology UCITS ETF USD (Dist)) are both Health & Biotech Equities funds - WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF while BTEE.L tracks the NASDAQ Biotechnology TR USD. Both are passively managed. Over the past 5 years, WHEA.L returned 4.42%/yr vs 5.78%/yr for BTEE.L. A 0.73 correlation means they provide meaningful diversification when combined. WHEA.L charges 0.30%/yr vs 0.35%/yr for BTEE.L.
Performance
WHEA.L vs. BTEE.L - Performance Comparison
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Returns By Period
In the year-to-date period, WHEA.L achieves a 1.40% return, which is significantly lower than BTEE.L's 14.55% return.
WHEA.L
- 1D
- 0.44%
- 1M
- 3.82%
- 6M
- -0.33%
- YTD
- 1.40%
- 1Y
- 17.80%
- 3Y*
- 7.00%
- 5Y*
- 4.42%
- 10Y*
- 8.14%
BTEE.L
- 1D
- 0.32%
- 1M
- 8.88%
- 6M
- 12.51%
- YTD
- 14.55%
- 1Y
- 49.20%
- 3Y*
- 17.34%
- 5Y*
- 5.78%
- 10Y*
- —
WHEA.L vs. BTEE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
WHEA.L State Street SPDR MSCI World Health Care UCITS ETF | 1.40% | 15.24% | 1.05% | 3.54% | -5.55% | 20.41% | 12.93% | 23.18% | 3.07% |
BTEE.L iShares Nasdaq US Biotechnology UCITS ETF USD (Dist) | 14.55% | 32.76% | -1.61% | 5.72% | -11.87% | -0.47% | 27.48% | 25.64% | -13.61% |
Correlation
The correlation between WHEA.L and BTEE.L is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2018 | 0.73 |
The correlation between WHEA.L and BTEE.L has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.
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Return for Risk
WHEA.L vs. BTEE.L — Risk / Return Rank
WHEA.L
BTEE.L
WHEA.L vs. BTEE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) and iShares Nasdaq US Biotechnology UCITS ETF USD (Dist) (BTEE.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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| WHEA.L | BTEE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.55 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.39 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 6.41 | -4.78 |
| Martin ratioReturn relative to average drawdown | 3.96 | 19.12 | -15.16 |
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Drawdowns
WHEA.L vs. BTEE.L - Drawdown Comparison
The maximum WHEA.L drawdown since its inception was -26.20%, smaller than the maximum BTEE.L drawdown of -38.29%. Use the drawdown chart below to compare losses from any high point for WHEA.L and BTEE.L.
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Drawdown Indicators
| WHEA.L | BTEE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.20% | -38.29% | +12.09% |
Max Drawdown (1Y)Largest decline over 1 year | -10.35% | -7.64% | -2.71% |
Max Drawdown (3Y)Largest decline over 3 years | -19.16% | -26.76% | +7.60% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -38.29% | +19.13% |
Max Drawdown (10Y)Largest decline over 10 years | -26.20% | — | — |
Current DrawdownCurrent decline from peak | -3.30% | -4.35% | +1.05% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -13.35% | +8.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 2.57% | +1.70% |
Volatility
WHEA.L vs. BTEE.L - Volatility Comparison
The current volatility for State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) is 5.90%, while iShares Nasdaq US Biotechnology UCITS ETF USD (Dist) (BTEE.L) has a volatility of 6.46%. This indicates that WHEA.L experiences smaller price fluctuations and is considered to be less risky than BTEE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WHEA.L | BTEE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 6.46% | -0.56% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 15.52% | -4.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 20.37% | -5.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 21.20% | -6.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 22.48% | -7.75% |
WHEA.L vs. BTEE.L - Expense Ratio Comparison
WHEA.L has a 0.30% expense ratio, which is lower than BTEE.L's 0.35% expense ratio.
Dividends
WHEA.L vs. BTEE.L - Dividend Comparison
WHEA.L has not paid dividends to shareholders, while BTEE.L's dividend yield for the trailing twelve months is around 0.23%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BTEE.L iShares Nasdaq US Biotechnology UCITS ETF USD (Dist) | 0.23% | 0.37% | 0.46% | 0.39% | 0.44% | 0.25% | 0.17% | 0.14% | 0.07% |
WHEA.L State Street SPDR MSCI World Health Care UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WHEA.L and BTEE.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, WHEA.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
WHEA.L is cheaper with a 0.30% expense ratio, compared with 0.35% for BTEE.L.
WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF, while BTEE.L tracks NASDAQ Biotechnology TR USD. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for WHEA.L and 0.35% for BTEE.L.
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