XLVP.L vs. WHCE.L

Last updated Jun 5, 2026

XLVP.L (Invesco US Health Care Sector UCITS ETF) and WHCE.L (Invesco S&P World Health Care ESG UCITS ETF Acc) are both Health & Biotech Equities funds from Invesco - XLVP.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, XLVP.L returned 3.80%/yr vs 3.30%/yr for WHCE.L. Their correlation of 0.89 suggests significant overlap in exposure. XLVP.L charges 0.14%/yr vs 0.18%/yr for WHCE.L.

Performance

XLVP.L vs. WHCE.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Invesco US Health Care Sector UCITS ETF (XLVP.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.

Different Trading Currencies

XLVP.L is traded in GBp, while WHCE.L is traded in USD. To make them comparable, the WHCE.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLVP.L achieves a -1.84% return, which is significantly higher than WHCE.L's -3.84% return.

XLVP.L

• 1D: 3.10%
• 1M: 5.91%
• YTD: -1.84%
• 6M: -1.13%
• 1Y: 16.32%
• 3Y*: 3.80%
• 5Y*: 6.90%
• 10Y*: 9.99%

WHCE.L

• 1D: 2.89%
• 1M: 4.71%
• YTD: -3.84%
• 6M: -3.54%
• 1Y: 13.07%
• 3Y*: 3.30%
• 5Y*: —
• 10Y*: —

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

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

	2026 (YTD)	2025	2024	2023
XLVP.L Invesco US Health Care Sector UCITS ETF	-1.84%	6.91%	3.77%	-0.36%
WHCE.L Invesco S&P World Health Care ESG UCITS ETF Acc	-3.84%	7.68%	3.32%	0.10%

Correlation

The correlation between XLVP.L and WHCE.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	0.89
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023	0.89

The correlation between XLVP.L and WHCE.L has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

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

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

XLVP.L

XLVP.L Risk / Return Rank: 29
XLVP.L Sharpe Ratio Rank: 31
XLVP.L Sortino Ratio Rank: 32
XLVP.L Omega Ratio Rank: 29
XLVP.L Calmar Ratio Rank: 29
XLVP.L Martin Ratio Rank: 27

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco US Health Care Sector UCITS ETF (XLVP.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.

	XLVP.L	WHCE.L	Difference
Sharpe ratio: Return per unit of total volatility	1.10	0.83	+0.27
Sortino ratio: Return per unit of downside risk	1.70	1.33	+0.38
Omega ratio: Gain probability vs. loss probability	1.19	1.15	+0.04
Calmar ratio: Return relative to maximum drawdown	1.41	1.03	+0.38
Martin ratio: Return relative to average drawdown	3.56	2.75	+0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XLVP.L Sharpe Ratio is 1.10, which is higher than the WHCE.L Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of XLVP.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

	XLVP.L	WHCE.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.10	0.83	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.16	+0.55

Drawdowns

XLVP.L vs. WHCE.L - Drawdown Comparison

The maximum XLVP.L drawdown since its inception was -19.67%, roughly equal to the maximum WHCE.L drawdown of -20.65%. Use the drawdown chart below to compare losses from any high point for XLVP.L and WHCE.L.

Drawdown Indicators

	XLVP.L	WHCE.L	Difference
Max Drawdown Largest peak-to-trough decline	-19.67%	-20.65%	+0.98%
Max Drawdown (1Y) Largest decline over 1 year	-11.56%	-12.68%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-19.67%	-20.65%	+0.98%
Max Drawdown (5Y) Largest decline over 5 years	-19.67%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.67%	—	—
Current Drawdown Current decline from peak	-4.97%	-7.71%	+2.74%
Average Drawdown Average peak-to-trough decline	-4.62%	-6.42%	+1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.57%	4.74%	-0.17%

Volatility

XLVP.L vs. WHCE.L - Volatility Comparison

The current volatility for Invesco US Health Care Sector UCITS ETF (XLVP.L) is 5.43%, while Invesco S&P World Health Care ESG UCITS ETF Acc (WHCE.L) has a volatility of 5.80%. This indicates that XLVP.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

	XLVP.L	WHCE.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.43%	5.80%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	10.54%	11.72%	-1.18%
Volatility (1Y) Calculated over the trailing 1-year period	14.76%	15.61%	-0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.25%	13.99%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	13.99%	+1.86%

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

XLVP.L has a 0.14% expense ratio, which is lower than WHCE.L's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

XLVP.L vs. WHCE.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

With a correlation of 0.91, XLVP.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, XLVP.L or WHCE.L?

On fees, XLVP.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, XLVP.L or WHCE.L?

XLVP.L is cheaper with a 0.14% expense ratio, compared with 0.18% for WHCE.L.

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

XLVP.L tracks MSCI World/Health Care NR USD, while WHCE.L tracks S&P World ESG Enhanced Health Care Index. Their fees differ too: 0.14% for XLVP.L and 0.18% for WHCE.L.