WHEA.L vs. GNOG.L
WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) and GNOG.L (Global X Genomics & Biotechnology UCITS ETF) are both Health & Biotech Equities funds - WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF while GNOG.L tracks the MSCI World/Health Care NR USD. Both are passively managed. Over the past 3 years, WHEA.L returned 7.00%/yr vs 5.11%/yr for GNOG.L. A 0.53 correlation means they provide meaningful diversification when combined. WHEA.L charges 0.30%/yr vs 0.50%/yr for GNOG.L.
Performance
WHEA.L vs. GNOG.L - Performance Comparison
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Different Trading Currencies
WHEA.L is traded in USD, while GNOG.L is traded in GBP. To make them comparable, the GNOG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, WHEA.L achieves a 1.40% return, which is significantly lower than GNOG.L's 22.32% 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%
GNOG.L
- 1D
- 0.46%
- 1M
- 12.17%
- 6M
- 15.97%
- YTD
- 22.32%
- 1Y
- 63.49%
- 3Y*
- 5.11%
- 5Y*
- —
- 10Y*
- —
WHEA.L vs. GNOG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
WHEA.L State Street SPDR MSCI World Health Care UCITS ETF | 1.40% | 15.24% | 1.05% | 3.54% | -5.55% | 3.21% |
GNOG.L Global X Genomics & Biotechnology UCITS ETF | 22.32% | 20.47% | -18.41% | -6.60% | -37.25% | -32.56% |
Correlation
The correlation between WHEA.L and GNOG.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2021 | 0.53 |
The correlation between WHEA.L and GNOG.L has been stable across timeframes, ranging from 0.51 to 0.53 - a consistent structural relationship.
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Return for Risk
WHEA.L vs. GNOG.L — Risk / Return Rank
WHEA.L
GNOG.L
WHEA.L vs. GNOG.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 Global X Genomics & Biotechnology UCITS ETF (GNOG.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 | GNOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.35 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 3.34 | -1.71 |
| Martin ratioReturn relative to average drawdown | 3.96 | 9.08 | -5.12 |
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Drawdowns
WHEA.L vs. GNOG.L - Drawdown Comparison
The maximum WHEA.L drawdown since its inception was -26.20%, smaller than the maximum GNOG.L drawdown of -77.33%. Use the drawdown chart below to compare losses from any high point for WHEA.L and GNOG.L.
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Drawdown Indicators
| WHEA.L | GNOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.20% | -77.33% | +51.13% |
Max Drawdown (1Y)Largest decline over 1 year | -10.35% | -18.91% | +8.56% |
Max Drawdown (3Y)Largest decline over 3 years | -19.16% | -44.90% | +25.74% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -26.20% | — | — |
Current DrawdownCurrent decline from peak | -3.30% | -53.57% | +50.27% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -61.00% | +56.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 6.97% | -2.70% |
Volatility
WHEA.L vs. GNOG.L - Volatility Comparison
The current volatility for State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) is 5.90%, while Global X Genomics & Biotechnology UCITS ETF (GNOG.L) has a volatility of 7.87%. This indicates that WHEA.L experiences smaller price fluctuations and is considered to be less risky than GNOG.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 | GNOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 7.87% | -1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 21.26% | -9.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 29.03% | -13.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 37.09% | -22.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 37.09% | -22.36% |
WHEA.L vs. GNOG.L - Expense Ratio Comparison
WHEA.L has a 0.30% expense ratio, which is lower than GNOG.L's 0.50% expense ratio.
Dividends
WHEA.L vs. GNOG.L - Dividend Comparison
Neither WHEA.L nor GNOG.L has paid dividends to shareholders.
Frequently Asked Questions
WHEA.L and GNOG.L have a correlation of 0.52, 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 0.50% for GNOG.L.
WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF, while GNOG.L tracks MSCI World/Health Care NR USD. They also come from different issuers: State Street and Global X. Their fees differ too: 0.30% for WHEA.L and 0.50% for GNOG.L.
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