WHEA.L vs. IUHC.L
WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) and IUHC.L (iShares S&P 500 Health Care Sector UCITS ETF USD (Acc)) are both Health & Biotech Equities funds - WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF while IUHC.L tracks the S&P 500 Capped 35/20 Health Care Index. Both are passively managed. Over the past 10 years, WHEA.L returned 8.14%/yr vs 9.45%/yr for IUHC.L. Their correlation of 0.93 suggests significant overlap in exposure. WHEA.L charges 0.30%/yr vs 0.15%/yr for IUHC.L.
Performance
WHEA.L vs. IUHC.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 IUHC.L's 2.89% return. Over the past 10 years, WHEA.L has underperformed IUHC.L with an annualized return of 8.14%, while IUHC.L has yielded a comparatively higher 9.45% 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%
IUHC.L
- 1D
- 0.47%
- 1M
- 4.22%
- 6M
- 1.83%
- YTD
- 2.89%
- 1Y
- 21.38%
- 3Y*
- 8.05%
- 5Y*
- 5.73%
- 10Y*
- 9.45%
WHEA.L vs. IUHC.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% |
IUHC.L iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) | 2.89% | 14.72% | 2.16% | 1.72% | -2.63% | 27.58% | 11.93% | 20.55% | 4.52% | 22.16% |
Correlation
The correlation between WHEA.L and IUHC.L is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2015 | 0.93 |
The correlation between WHEA.L and IUHC.L has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
WHEA.L vs. IUHC.L — Risk / Return Rank
WHEA.L
IUHC.L
WHEA.L vs. IUHC.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 S&P 500 Health Care Sector UCITS ETF USD (Acc) (IUHC.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 | IUHC.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.24 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.63 | 2.05 | -0.42 |
| Martin ratioReturn relative to average drawdown | 3.96 | 5.06 | -1.10 |
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Drawdowns
WHEA.L vs. IUHC.L - Drawdown Comparison
The maximum WHEA.L drawdown since its inception was -26.20%, roughly equal to the maximum IUHC.L drawdown of -27.44%. Use the drawdown chart below to compare losses from any high point for WHEA.L and IUHC.L.
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Drawdown Indicators
| WHEA.L | IUHC.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.20% | -27.44% | +1.24% |
Max Drawdown (1Y)Largest decline over 1 year | -10.35% | -10.40% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -19.16% | -17.62% | -1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -19.16% | -17.62% | -1.54% |
Max Drawdown (10Y)Largest decline over 10 years | -26.20% | -27.44% | +1.24% |
Current DrawdownCurrent decline from peak | -3.30% | -3.39% | +0.09% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -4.88% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 4.21% | +0.06% |
Volatility
WHEA.L vs. IUHC.L - Volatility Comparison
State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) and iShares S&P 500 Health Care Sector UCITS ETF USD (Acc) (IUHC.L) have volatilities of 5.90% and 5.97%, 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.
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Volatility by Period
| WHEA.L | IUHC.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 5.97% | -0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 11.52% | 11.61% | -0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 15.58% | -0.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 14.99% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.73% | 15.77% | -1.04% |
WHEA.L vs. IUHC.L - Expense Ratio Comparison
WHEA.L has a 0.30% expense ratio, which is higher than IUHC.L's 0.15% expense ratio.
Dividends
WHEA.L vs. IUHC.L - Dividend Comparison
Neither WHEA.L nor IUHC.L has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 0.95, WHEA.L and IUHC.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.
On fees, IUHC.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IUHC.L is cheaper with a 0.15% expense ratio, compared with 0.30% for WHEA.L.
WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF, while IUHC.L tracks S&P 500 Capped 35/20 Health Care Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.30% for WHEA.L and 0.15% for IUHC.L.
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