WHEA.L vs. HEAW.L
WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) and HEAW.L (SPDR MSCI World Health Care UCITS ETF) are both Health & Biotech Equities funds from State Street - WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF while HEAW.L tracks the MSCI World/Health Care NR USD. Both are passively managed. Over the past 10 years, WHEA.L returned 8.14%/yr vs 5.10%/yr for HEAW.L. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.30% expense ratio.
Performance
WHEA.L vs. HEAW.L - Performance Comparison
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Different Trading Currencies
WHEA.L is traded in USD, while HEAW.L is traded in GBP. To make them comparable, the HEAW.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 higher than HEAW.L's 0.37% return. Over the past 10 years, WHEA.L has outperformed HEAW.L with an annualized return of 8.14%, while HEAW.L has yielded a comparatively lower 5.10% annualized 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%
HEAW.L
- 1D
- 0.00%
- 1M
- 2.89%
- 6M
- -1.32%
- YTD
- 0.37%
- 1Y
- 16.52%
- 3Y*
- 6.69%
- 5Y*
- -2.23%
- 10Y*
- 5.10%
WHEA.L vs. HEAW.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% | 1.48% | 20.27% |
HEAW.L SPDR MSCI World Health Care UCITS ETF | 0.37% | 15.56% | 0.81% | 3.12% | -29.87% | 18.50% | 16.73% | 28.28% | -3.32% | 31.08% |
Correlation
The correlation between WHEA.L and HEAW.L is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.78 |
The correlation between WHEA.L and HEAW.L shifts across timeframes, from 0.74 (10 years) to 0.91 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
WHEA.L vs. HEAW.L — Risk / Return Rank
WHEA.L
HEAW.L
WHEA.L vs. HEAW.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 SPDR MSCI World Health Care UCITS ETF (HEAW.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 | HEAW.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 1.58 | +0.05 |
| Martin ratioReturn relative to average drawdown | 3.96 | 3.79 | +0.17 |
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Drawdowns
WHEA.L vs. HEAW.L - Drawdown Comparison
The maximum WHEA.L drawdown since its inception was -26.20%, smaller than the maximum HEAW.L drawdown of -40.13%. Use the drawdown chart below to compare losses from any high point for WHEA.L and HEAW.L.
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Drawdown Indicators
| WHEA.L | HEAW.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.20% | -40.13% | +13.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.35% | -10.51% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -19.16% | -19.14% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -40.13% | +20.97% |
Max Drawdown (10Y)Largest decline over 10 years | -26.20% | -40.13% | +13.93% |
Current DrawdownCurrent decline from peak | -3.30% | -16.60% | +13.30% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -13.39% | +8.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 4.37% | -0.10% |
Volatility
WHEA.L vs. HEAW.L - Volatility Comparison
State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) has a higher volatility of 5.90% compared to SPDR MSCI World Health Care UCITS ETF (HEAW.L) at 5.44%. This indicates that WHEA.L's price experiences larger fluctuations and is considered to be riskier than HEAW.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 | HEAW.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 5.44% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 11.20% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 14.70% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 17.98% | -3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 18.43% | -3.70% |
WHEA.L vs. HEAW.L - Expense Ratio Comparison
Both WHEA.L and HEAW.L have an expense ratio of 0.30%.
Dividends
WHEA.L vs. HEAW.L - Dividend Comparison
Neither WHEA.L nor HEAW.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.91, WHEA.L and HEAW.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.
Both ETFs have the same 0.30% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
WHEA.L and HEAW.L have the same expense ratio: 0.30% per year.
WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF, while HEAW.L tracks MSCI World/Health Care NR USD.
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