XLVS.L vs. ESIH.L

Last updated Jun 5, 2026

XLVS.L (Invesco Health Care S&P US Select Sector UCITS ETF Acc) and ESIH.L (iShares MSCI Europe Health Care Sector UCITS ETF) are both Health & Biotech Equities funds - XLVS.L tracks the S&P® Select Sector Capped 20% Health Care Index while ESIH.L tracks the MSCI World/Health Care NR USD. Both are passively managed. Over the past 5 years, XLVS.L returned 5.76%/yr vs 4.78%/yr for ESIH.L. A 0.59 correlation means they provide meaningful diversification when combined. XLVS.L charges 0.14%/yr vs 0.18%/yr for ESIH.L.

Performance

XLVS.L vs. ESIH.L - Performance Comparison

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

Different Trading Currencies

XLVS.L is traded in USD, while ESIH.L is traded in GBP. To make them comparable, the ESIH.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XLVS.L achieves a -2.10% return, which is significantly higher than ESIH.L's -2.96% return.

XLVS.L

• 1D: 3.00%
• 1M: 4.23%
• YTD: -2.10%
• 6M: -0.52%
• 1Y: 15.24%
• 3Y*: 6.54%
• 5Y*: 5.76%
• 10Y*: 9.17%

ESIH.L

• 1D: 3.11%
• 1M: 0.92%
• YTD: -2.96%
• 6M: -0.77%
• 1Y: 7.85%
• 3Y*: 5.48%
• 5Y*: 4.78%
• 10Y*: —

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

XLVS.L vs. ESIH.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
XLVS.L Invesco Health Care S&P US Select Sector UCITS ETF Acc	-2.10%	14.78%	2.15%	1.56%	-2.62%	27.57%	4.09%
ESIH.L iShares MSCI Europe Health Care Sector UCITS ETF	-2.95%	21.27%	-2.12%	11.00%	-9.30%	16.03%	3.35%

Correlation

The correlation between XLVS.L and ESIH.L is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (All Time) Calculated using the full available price history since Nov 24, 2020	0.59

The correlation between XLVS.L and ESIH.L has been stable across timeframes, ranging from 0.56 to 0.62 - a consistent structural relationship.

XLVS.L vs. ESIH.L - Sectors Allocation Comparison

Sectors	XLVS.L	ESIH.L
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

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

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

XLVS.L

XLVS.L Risk / Return Rank: 28
XLVS.L Sharpe Ratio Rank: 28
XLVS.L Sortino Ratio Rank: 30
XLVS.L Omega Ratio Rank: 26
XLVS.L Calmar Ratio Rank: 30
XLVS.L Martin Ratio Rank: 26

ESIH.L

ESIH.L Risk / Return Rank: 17
ESIH.L Sharpe Ratio Rank: 18
ESIH.L Sortino Ratio Rank: 18
ESIH.L Omega Ratio Rank: 17
ESIH.L Calmar Ratio Rank: 17
ESIH.L Martin Ratio Rank: 17

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.

XLVS.L vs. ESIH.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.L) and iShares MSCI Europe Health Care Sector UCITS ETF (ESIH.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.

	XLVS.L	ESIH.L	Difference
Sharpe ratio: Return per unit of total volatility	1.00	0.43	+0.57
Sortino ratio: Return per unit of downside risk	1.61	0.75	+0.86
Omega ratio: Gain probability vs. loss probability	1.18	1.09	+0.09
Calmar ratio: Return relative to maximum drawdown	1.44	0.52	+0.92
Martin ratio: Return relative to average drawdown	3.56	1.22	+2.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current XLVS.L Sharpe Ratio is 1.00, which is higher than the ESIH.L Sharpe Ratio of 0.43. The chart below compares the historical Sharpe Ratios of XLVS.L and ESIH.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

	XLVS.L	ESIH.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	0.43	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.27	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.36	+0.28

Drawdowns

XLVS.L vs. ESIH.L - Drawdown Comparison

The maximum XLVS.L drawdown since its inception was -26.88%, smaller than the maximum ESIH.L drawdown of -29.18%. Use the drawdown chart below to compare losses from any high point for XLVS.L and ESIH.L.

Drawdown Indicators

	XLVS.L	ESIH.L	Difference
Max Drawdown Largest peak-to-trough decline	-26.88%	-29.18%	+2.30%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-15.02%	+4.57%
Max Drawdown (3Y) Largest decline over 3 years	-17.56%	-26.26%	+8.70%
Max Drawdown (5Y) Largest decline over 5 years	-17.56%	-29.18%	+11.62%
Max Drawdown (10Y) Largest decline over 10 years	-26.88%	—	—
Current Drawdown Current decline from peak	-4.62%	-11.87%	+7.25%
Average Drawdown Average peak-to-trough decline	-4.88%	-8.00%	+3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.24%	6.43%	-2.19%

Volatility

XLVS.L vs. ESIH.L - Volatility Comparison

The current volatility for Invesco Health Care S&P US Select Sector UCITS ETF Acc (XLVS.L) is 4.89%, while iShares MSCI Europe Health Care Sector UCITS ETF (ESIH.L) has a volatility of 5.51%. This indicates that XLVS.L experiences smaller price fluctuations and is considered to be less risky than ESIH.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XLVS.L	ESIH.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	5.51%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	13.27%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	18.31%	-3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.74%	17.43%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.53%	17.10%	-1.57%

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

XLVS.L has a 0.14% expense ratio, which is lower than ESIH.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

XLVS.L vs. ESIH.L - Dividend Comparison

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

Tickers have no history of dividend payments

Frequently Asked Questions

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

XLVS.L and ESIH.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLVS.L or ESIH.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, XLVS.L or ESIH.L?

XLVS.L is cheaper with a 0.14% expense ratio, compared with 0.18% for ESIH.L.

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

XLVS.L tracks S&P® Select Sector Capped 20% Health Care Index, while ESIH.L tracks MSCI World/Health Care NR USD. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.14% for XLVS.L and 0.18% for ESIH.L.