# State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR (HEAE)

**Page:** https://fundology.uk/fund/heae · ISIN IE00BKWQ0H23

## At a glance

> Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.

As of 13/11/2026, HEAE (State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR, ISIN IE00BKWQ0H23) closed at £215.05 on the London Stock Exchange. Its ongoing charge is 0.18% a year (about £18 on £10,000). Over the five years to 13/11/2026 its total return was +30.5%, or +1.8% after UK CPIH inflation.

## Summary

State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR is an exchange-traded fund (ETF) from SPDR, launched in 2014. It tracks the MSCI Europe Health Care 35/20 Capped Index - EUR - Benchmark TR Net — large and medium-sized European companies. You buy and sell it through a share-dealing account or platform during stock-market hours, like a share. Its ongoing charge is 0.18% a year — about £18 a year on every £10,000 invested, taken from the fund's value rather than billed to you. Income from its investments is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

Latest close: **£215.05** (13/11/2026).

## Key facts

| Fact | Value |
|---|---|
| Ticker (LSE) | HEAE |
| ISIN | IE00BKWQ0H23 |
| Also listed as | HLTH (London Stock Exchange, euros), SPYH (Xetra, euros) |
| Category | Healthcare |
| Type | ETF |
| Provider | SPDR |
| Tracks | MSCI Europe Health Care 35/20 Capped Index - EUR - Benchmark TR Net |
| Income | Accumulating |
| Ongoing charge | 0.18% a year (£18 per £10,000) |
| Fund size | £544m |
| Launched | 2014 |
| Domicile | Ireland |
| UK reporting fund status | Yes — on HMRC’s list of reporting funds (list of 02/11/2026); reporting fund since 08/12/2014 |

## Past returns (periods to 13/11/2026)

After the fund's ongoing charges. "Income reinvested" is total return; "price only" leaves out income paid out. Real returns are after UK CPIH inflation.

| Window | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 1 year | +9.95% | +6.06% | income reinvested |
| 3 years | +27.13% | +14.86% | income reinvested |
| 5 years | +30.48% | +1.85% | income reinvested |

Returns: as reported (delayed data). Inflation: UK CPIH, latest month published.

## Calendar-year returns

Calendar-year returns of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR in pounds (price, with income reinvested in the fund): 2023 +5.5%, 2024 +0.1%, 2025 +11.7%; 2026 to 13/11/2026 +10.0%. Returns of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR in pounds (price, with income reinvested in the fund) over the 12 months to 30/09/2026: +0.3%; to 30/09/2025: −2.4%; to 30/09/2024: +10.4%; to 30/09/2023: +14.2%.

| Year | Return | After CPIH inflation | Measured as |
|---|---|---|---|
| 2023 | +5.5% | +1.3% | Price |
| 2024 | +0.1% | -3.3% | Price |
| 2025 | +11.7% | +7.9% | Price |
| 2026 to 13/11/2026 | +10.0% | +6.5% | Price |

## Risk metrics

| Window | Volatility | Max drawdown |
|---|---|---|
| 1 year | 19.02% | -12.57% |
| 3 years | 17.21% | -21.43% |

## Largest fall

Volatility of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR in pounds, annualised from weekly returns to 13/11/2026: 19.0% over 1 year, 17.2% over 3 years. Largest fall in the price of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR since April 2022, in pounds: −21.4% from 30/08/2024 to 11/04/2025. The lowest 12-month return of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR in pounds (price, with income reinvested in the fund) since April 2022 was −17.1% (12 months to 08/08/2025); the highest was +21.2% (12 months to 17/04/2026). On 13/11/2026 the price of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR was at its highest weekly close since April 2022, in pounds.

## Charges compared with similar funds

Ongoing charge of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR 0.18% a year. Compared on 14/11/2026, 21 of the 28 other healthcare funds charge more, 3 the same and 4 less (share classes counted once).

## Charges & eligibility

- Ongoing charges figure (OCF): **0.18%** per year (as of 13/11/2026)
- Stocks and shares ISA eligible: usually (check with your platform)
- SIPP eligible: usually (check with your provider)
- ISA and SIPP mean the kind of product usually qualifies under HMRC rules. We do not check each platform’s list — each provider decides which funds it offers. Crypto ETNs have not qualified for a stocks and shares ISA since 06/04/2026, and overseas funds that are not UK-recognised UCITS, such as Swiss ETFs, do not usually qualify.

## What it holds

As of 05/11/2026, HEAE holds 37 positions, according to its published holdings. The largest is Roche at 17.69% of the fund; the ten largest make up 76.2%.

### Top holdings

Largest positions (as of 05/11/2026), as a percentage of the whole fund:

| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | Roche | [RO](https://fundology.uk/stock/RO) | 17.69% |
| 2 | Novartis | [NOVN](https://fundology.uk/stock/NOVN) | 15.15% |
| 3 | AstraZeneca | [AZN](https://fundology.uk/stock/AZN) | 14.38% |
| 4 | Novo Nordisk · Class B | [NOVO_B](https://fundology.uk/stock/NOVO_B) | 6.59% |
| 5 | Sanofi | [SAN](https://fundology.uk/stock/EURONEXT:SAN) | 5.21% |
| 6 | GSK | [GSK](https://fundology.uk/stock/GSK) | 5.18% |
| 7 | EssilorLuxottica | [EL](https://fundology.uk/stock/EL) | 3.14% |
| 8 | Bayer | [BAYN](https://fundology.uk/stock/BAYN) | 3.11% |
| 9 | Lonza Group | [LONN](https://fundology.uk/stock/LONN) | 2.91% |
| 10 | argenx | [ARGX](https://fundology.uk/stock/ARGX) | 2.88% |

## Where it invests

Shares of the whole fund. Bonds, cash and positions without a classification are shown as they come, not guessed.

### By country

Added up from the fund’s published holdings, as of 05/11/2026.

| Country | Weight |
|---|---|
| Switzerland | 43.6% |
| United Kingdom | 22.2% |
| France | 10.1% |
| Denmark | 8.9% |
| Germany | 7.7% |
| Belgium | 5.1% |
| Netherlands | 1.2% |
| Finland | 0.6% |
| Other countries | 0.5% |

All 37 holdings: https://fundology.uk/fund/heae/holdings

## Questions people ask

**What is the ongoing charge of HEAE?**

The ongoing charge of HEAE is 0.18% a year — about £18 a year on every £10,000 invested, taken from the fund’s value rather than billed to you. Platform and dealing fees are charged separately. Ongoing charge of State Street SPDR MSCI Europe Health Care UCITS ETF Accum Ptg EUR 0.18% a year. Compared on 14/11/2026, 21 of the 28 other healthcare funds charge more, 3 the same and 4 less (share classes counted once).

**What does HEAE track?**

HEAE tracks the MSCI Europe Health Care 35/20 Capped Index - EUR - Benchmark TR Net — large and medium-sized European companies.

**Is HEAE accumulating or distributing?**

HEAE is accumulating: income is reinvested inside the fund, so it shows up as a rising price rather than cash paid to you.

**What is the ISIN of HEAE?**

The ISIN of HEAE is IE00BKWQ0H23. An ISIN identifies one exact share class of a fund; HEAE is its ticker on the London Stock Exchange. The same share class is also listed as HLTH (London Stock Exchange, euros) and SPYH (Xetra, euros).

**What does HEAE hold?**

As of 05/11/2026, HEAE holds 37 positions, according to its published holdings. The largest is Roche at 17.69% of the fund; the ten largest make up 76.2%. Its ten largest holdings are Roche (17.69%), Novartis (15.15%), AstraZeneca (14.38%), Novo Nordisk · Class B (6.59%), Sanofi (5.21%), GSK (5.18%), EssilorLuxottica (3.14%), Bayer (3.11%), Lonza Group (2.91%) and argenx (2.88%).

**What were HEAE’s returns in each of the last five years?**

Calendar-year returns of HEAE in pounds (price, with income reinvested in the fund): 2023 +5.5%, 2024 +0.1%, 2025 +11.7%; 2026 to 13/11/2026 +10.0%. Past performance is not a guide to future returns.

**How has HEAE done after inflation?**

Over the five years to 13/11/2026 HEAE’s total return was +30.5%, or +1.8% after UK CPIH inflation. Past performance is not a guide to future returns.

## Fund documents

- [Fund page at State Street Global Advisors](https://www.ssga.com/uk/en_gb/intermediary/etfs/state-street-spdr-msci-europe-health-care-ucits-etf-stw-fp)
- [Key investor information document (KIID)](https://www.ssga.com/library-content/kiids?isin=IE00BKWQ0H23&documentType=kiid&country=uk&language=en_gb&ticker=stw-fp)
- [Factsheet](https://www.ssga.com/library-content/products/factsheets/etfs/emea/factsheet-emea-en_gb-stw-fp.pdf)
- Links checked 12/10/2026.

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Capital at risk. Past performance is not a guide to future returns. The value of investments can fall as well as rise.