XDWH.L vs. WHCE.L

Last updated Jun 5, 2026

XDWH.L (Xtrackers MSCI World Health Care UCITS ETF 1C) and WHCE.L (Invesco S&P World Health Care ESG UCITS ETF Acc) are both Health & Biotech Equities funds - XDWH.L tracks the MSCI World/Health Care NR USD while WHCE.L tracks the S&P World ESG Enhanced Health Care Index. Both are passively managed. Over the past 3 years, XDWH.L returned 5.50%/yr vs 5.96%/yr for WHCE.L. With a 0.97 correlation, they move nearly in lockstep. XDWH.L charges 0.25%/yr vs 0.18%/yr for WHCE.L.

Performance

XDWH.L vs. WHCE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.L) and Invesco S&P World Health Care ESG UCITS ETF Acc (WHCE.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XDWH.L achieves a -2.74% return, which is significantly higher than WHCE.L's -4.23% return.

XDWH.L

• 1D: 2.99%
• 1M: 3.25%
• YTD: -2.74%
• 6M: -1.64%
• 1Y: 11.56%
• 3Y*: 5.50%
• 5Y*: 4.54%
• 10Y*: 7.85%

WHCE.L

• 1D: 2.89%
• 1M: 3.76%
• YTD: -4.23%
• 6M: -2.86%
• 1Y: 11.99%
• 3Y*: 5.96%
• 5Y*: —
• 10Y*: —

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

XDWH.L vs. WHCE.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XDWH.L Xtrackers MSCI World Health Care UCITS ETF 1C	-2.74%	15.25%	0.75%	1.67%
WHCE.L Invesco S&P World Health Care ESG UCITS ETF Acc	-4.23%	15.94%	1.55%	2.96%

Correlation

The correlation between XDWH.L and WHCE.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023	0.97

The correlation between XDWH.L and WHCE.L has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

XDWH.L vs. WHCE.L — Risk / Return Rank

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

XDWH.L

XDWH.L Risk / Return Rank: 24
XDWH.L Sharpe Ratio Rank: 23
XDWH.L Sortino Ratio Rank: 24
XDWH.L Omega Ratio Rank: 23
XDWH.L Calmar Ratio Rank: 24
XDWH.L Martin Ratio Rank: 23

WHCE.L

WHCE.L Risk / Return Rank: 22
WHCE.L Sharpe Ratio Rank: 23
WHCE.L Sortino Ratio Rank: 24
WHCE.L Omega Ratio Rank: 22
WHCE.L Calmar Ratio Rank: 22
WHCE.L Martin Ratio Rank: 21

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.

XDWH.L vs. WHCE.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.L) and Invesco S&P World Health Care ESG UCITS ETF Acc (WHCE.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.

	XDWH.L	WHCE.L	Difference
Sharpe ratio: Return per unit of total volatility	0.79	0.76	+0.03
Sortino ratio: Return per unit of downside risk	1.29	1.27	+0.03
Omega ratio: Gain probability vs. loss probability	1.15	1.14	0.00
Calmar ratio: Return relative to maximum drawdown	1.11	0.96	+0.15
Martin ratio: Return relative to average drawdown	2.80	2.51	+0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDWH.L vs. WHCE.L - Sharpe Ratio Comparison

The current XDWH.L Sharpe Ratio is 0.79, which is comparable to the WHCE.L Sharpe Ratio of 0.76. The chart below compares the historical Sharpe Ratios of XDWH.L and WHCE.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.

Sharpe Ratios by Period

	XDWH.L	WHCE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.76	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.35	+0.22

Drawdowns

XDWH.L vs. WHCE.L - Drawdown Comparison

The maximum XDWH.L drawdown since its inception was -26.24%, which is greater than WHCE.L's maximum drawdown of -20.11%. Use the drawdown chart below to compare losses from any high point for XDWH.L and WHCE.L.

Drawdown Indicators

	XDWH.L	WHCE.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.24%	-20.11%	-6.13%
Max Drawdown (1Y) Largest decline over 1 year	-10.39%	-12.46%	+2.07%
Max Drawdown (3Y) Largest decline over 3 years	-19.28%	-20.11%	+0.83%
Max Drawdown (5Y) Largest decline over 5 years	-19.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-26.24%	—	—
Current Drawdown Current decline from peak	-5.82%	-7.25%	+1.43%
Average Drawdown Average peak-to-trough decline	-4.98%	-6.13%	+1.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	4.76%	-0.64%

Volatility

XDWH.L vs. WHCE.L - Volatility Comparison

The current volatility for Xtrackers MSCI World Health Care UCITS ETF 1C (XDWH.L) is 4.80%, while Invesco S&P World Health Care ESG UCITS ETF Acc (WHCE.L) has a volatility of 5.21%. This indicates that XDWH.L experiences smaller price fluctuations and is considered to be less risky than WHCE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDWH.L	WHCE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.80%	5.21%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	10.77%	11.59%	-0.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	15.65%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	13.98%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.97%	13.98%	+0.99%

XDWH.L vs. WHCE.L - Expense Ratio Comparison

XDWH.L has a 0.25% expense ratio, which is higher than WHCE.L's 0.18% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XDWH.L vs. WHCE.L - Dividend Comparison

Neither XDWH.L nor WHCE.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDWH.L and WHCE.L in my portfolio?

With a correlation of 0.96, XDWH.L and WHCE.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, XDWH.L or WHCE.L?

On fees, WHCE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XDWH.L or WHCE.L?

WHCE.L is cheaper with a 0.18% expense ratio, compared with 0.25% for XDWH.L.

What is the main difference between XDWH.L and WHCE.L?

XDWH.L tracks MSCI World/Health Care NR USD, while WHCE.L tracks S&P World ESG Enhanced Health Care Index. They also come from different issuers: Xtrackers and Invesco. Their fees differ too: 0.25% for XDWH.L and 0.18% for WHCE.L.