WHEA.L vs. XLVS.L

Last updated Jul 16, 2026

WHEA.L (State Street SPDR MSCI World Health Care UCITS ETF) and XLVS.L (Invesco Health Care S&P US Select Sector UCITS ETF Acc) are both Health & Biotech Equities funds - WHEA.L tracks the State Street SPDR MSCI World Health Care UCITS ETF while XLVS.L tracks the S&P® Select Sector Capped 20% Health Care Index. Both are passively managed. Over the past 10 years, WHEA.L returned 8.14%/yr vs 9.42%/yr for XLVS.L. Their correlation of 0.84 suggests significant overlap in exposure. WHEA.L charges 0.30%/yr vs 0.14%/yr for XLVS.L.

Performance

WHEA.L vs. XLVS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) and Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WHEA.L achieves a 1.40% return, which is significantly lower than XLVS.L's 2.92% return. Over the past 10 years, WHEA.L has underperformed XLVS.L with an annualized return of 8.14%, while XLVS.L has yielded a comparatively higher 9.42% 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%

XLVS.L

• 1D: 0.59%
• 1M: 4.29%
• 6M: 1.82%
• YTD: 2.92%
• 1Y: 21.48%
• 3Y*: 8.05%
• 5Y*: 5.72%
• 10Y*: 9.42%

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

WHEA.L vs. XLVS.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%
XLVS.L Invesco Health Care S&P US Select Sector UCITS ETF Acc	2.92%	14.78%	2.15%	1.56%	-2.62%	27.57%	12.04%	20.54%	4.87%	21.27%

Correlation

The correlation between WHEA.L and XLVS.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	0.95
Correlation (All Time) Calculated using the full available price history since Dec 16, 2009	0.84

The correlation between WHEA.L and XLVS.L shifts across timeframes, from 0.84 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

WHEA.L vs. XLVS.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WHEA.L

WHEA.L Risk / Return Rank: 37
WHEA.L Sharpe Ratio Rank: 38
WHEA.L Sortino Ratio Rank: 41
WHEA.L Omega Ratio Rank: 36
WHEA.L Calmar Ratio Rank: 38
WHEA.L Martin Ratio Rank: 33

XLVS.L

XLVS.L Risk / Return Rank: 47
XLVS.L Sharpe Ratio Rank: 47
XLVS.L Sortino Ratio Rank: 54
XLVS.L Omega Ratio Rank: 45
XLVS.L Calmar Ratio Rank: 49
XLVS.L Martin Ratio Rank: 39

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.L vs. XLVS.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 Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.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	XLVS.L	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.37	-0.25
Sortino ratio: Return per unit of downside risk	1.79	2.15	-0.37
Omega ratio: Gain probability vs. loss probability	1.20	1.24	-0.04
Calmar ratio: Return relative to maximum drawdown	1.63	2.05	-0.41
Martin ratio: Return relative to average drawdown	3.96	5.02	-1.06

WHEA.L vs. XLVS.L - Sharpe Ratio Comparison

The current WHEA.L Sharpe Ratio is 1.12, which is comparable to the XLVS.L Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of WHEA.L and XLVS.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.

Drawdowns

WHEA.L vs. XLVS.L - Drawdown Comparison

The maximum WHEA.L drawdown since its inception was -26.20%, roughly equal to the maximum XLVS.L drawdown of -26.88%. Use the drawdown chart below to compare losses from any high point for WHEA.L and XLVS.L.

Drawdown Indicators

	WHEA.L	XLVS.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.20%	-26.88%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.35%	-10.45%	+0.10%
Max Drawdown (3Y) Largest decline over 3 years	-19.16%	-17.56%	-1.60%
Max Drawdown (5Y) Largest decline over 5 years	-19.16%	-17.56%	-1.60%
Max Drawdown (10Y) Largest decline over 10 years	-26.20%	-26.88%	+0.68%
Current Drawdown Current decline from peak	-3.30%	-3.37%	+0.07%
Average Drawdown Average peak-to-trough decline	-4.76%	-4.52%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.27%	4.27%	0.00%

Volatility

WHEA.L vs. XLVS.L - Volatility Comparison

State Street SPDR MSCI World Health Care UCITS ETF (WHEA.L) and Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.L) have volatilities of 5.90% and 6.06%, 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.L	XLVS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.90%	6.06%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	11.63%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	15.68%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.27%	14.92%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.73%	15.57%	-0.84%

WHEA.L vs. XLVS.L - Expense Ratio Comparison

WHEA.L has a 0.30% expense ratio, which is higher than XLVS.L's 0.14% expense ratio.

Dividends

WHEA.L vs. XLVS.L - Dividend Comparison

Neither WHEA.L nor XLVS.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.95, WHEA.L and XLVS.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.L or XLVS.L?

On fees, XLVS.L is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WHEA.L or XLVS.L?

XLVS.L is cheaper with a 0.14% expense ratio, compared with 0.30% for WHEA.L.

What is the main difference between WHEA.L and XLVS.L?

WHEA.L tracks State Street SPDR MSCI World Health Care UCITS ETF, while XLVS.L tracks S&P® Select Sector Capped 20% Health Care Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.30% for WHEA.L and 0.14% for XLVS.L.