ARKG vs. HE

Last updated Jun 4, 2026

ARKG (ARK Genomic Revolution Multi-Sector ETF) is Health & Biotech Equities fund actively managed by ARK, while HE (Hawaiian Electric Industries, Inc.) is a stock. Over the past 10 years, ARKG returned 7.22%/yr vs -6.24%/yr for HE. At a 0.14 correlation, their price movements are largely independent.

Performance

ARKG vs. HE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Genomic Revolution Multi-Sector ETF (ARKG) and Hawaiian Electric Industries, Inc. (HE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARKG achieves a 17.09% return, which is significantly higher than HE's 8.78% return. Over the past 10 years, ARKG has outperformed HE with an annualized return of 7.22%, while HE has yielded a comparatively lower -6.24% annualized return.

ARKG

• 1D: -0.24%
• 1M: 10.92%
• YTD: 17.09%
• 6M: 10.02%
• 1Y: 53.35%
• 3Y*: 0.67%
• 5Y*: -15.72%
• 10Y*: 7.22%

HE

• 1D: -1.40%
• 1M: -11.16%
• YTD: 8.78%
• 6M: 19.79%
• 1Y: 24.47%
• 3Y*: -28.02%
• 5Y*: -19.47%
• 10Y*: -6.24%

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

ARKG vs. HE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARKG ARK Genomic Revolution Multi-Sector ETF	17.09%	23.04%	-28.24%	16.22%	-53.90%	-33.92%	180.40%	44.00%	-1.26%	46.61%
HE Hawaiian Electric Industries, Inc.	8.78%	26.41%	-31.43%	-64.58%	4.31%	21.27%	-21.90%	31.91%	4.97%	13.42%

Correlation

The correlation between ARKG and HE is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.13
Correlation (All Time) Calculated using the full available price history since Nov 3, 2014	0.14

The correlation between ARKG and HE shifts across timeframes, from 0.08 (1 year) to 0.22 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

ARKG vs. HE — Risk / Return Rank

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

ARKG

ARKG Risk / Return Rank: 35
ARKG Sharpe Ratio Rank: 35
ARKG Sortino Ratio Rank: 37
ARKG Omega Ratio Rank: 32
ARKG Calmar Ratio Rank: 38
ARKG Martin Ratio Rank: 31

HE

HE Risk / Return Rank: 61
HE Sharpe Ratio Rank: 65
HE Sortino Ratio Rank: 60
HE Omega Ratio Rank: 58
HE Calmar Ratio Rank: 63
HE Martin Ratio Rank: 63

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.

ARKG vs. HE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Genomic Revolution Multi-Sector ETF (ARKG) and Hawaiian Electric Industries, Inc. (HE). 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.

	ARKG	HE	Difference
Sharpe ratio: Return per unit of total volatility	1.31	0.74	+0.56
Sortino ratio: Return per unit of downside risk	1.99	1.25	+0.73
Omega ratio: Gain probability vs. loss probability	1.22	1.15	+0.07
Calmar ratio: Return relative to maximum drawdown	1.95	1.07	+0.88
Martin ratio: Return relative to average drawdown	4.67	2.47	+2.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARKG vs. HE - Sharpe Ratio Comparison

The current ARKG Sharpe Ratio is 1.31, which is higher than the HE Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of ARKG and HE, 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

	ARKG	HE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	0.74	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.35	-0.37	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.18	-0.15	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.19	-0.06

Drawdowns

ARKG vs. HE - Drawdown Comparison

The maximum ARKG drawdown since its inception was -83.59%, roughly equal to the maximum HE drawdown of -83.34%. Use the drawdown chart below to compare losses from any high point for ARKG and HE.

Drawdown Indicators

	ARKG	HE	Difference
Max Drawdown Largest peak-to-trough decline	-83.59%	-83.34%	-0.25%
Max Drawdown (1Y) Largest decline over 1 year	-27.51%	-22.89%	-4.62%
Max Drawdown (3Y) Largest decline over 3 years	-51.96%	-80.01%	+28.05%
Max Drawdown (5Y) Largest decline over 5 years	-80.18%	-81.39%	+1.21%
Max Drawdown (10Y) Largest decline over 10 years	-83.59%	-83.34%	-0.25%
Current Drawdown Current decline from peak	-69.65%	-71.20%	+1.55%
Average Drawdown Average peak-to-trough decline	-35.87%	-14.18%	-21.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.46%	9.93%	+1.53%

Volatility

ARKG vs. HE - Volatility Comparison

ARK Genomic Revolution Multi-Sector ETF (ARKG) has a higher volatility of 11.90% compared to Hawaiian Electric Industries, Inc. (HE) at 9.75%. This indicates that ARKG's price experiences larger fluctuations and is considered to be riskier than HE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARKG	HE	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.90%	9.75%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	28.77%	26.22%	+2.55%
Volatility (1Y) Calculated over the trailing 1-year period	41.12%	33.13%	+7.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.61%	53.45%	-7.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.12%	41.80%	-0.68%

Dividends

ARKG vs. HE - Dividend Comparison

Neither ARKG nor HE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKG ARK Genomic Revolution Multi-Sector ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.62%	0.85%	3.14%	0.82%	1.34%	0.00%	0.00%
HE Hawaiian Electric Industries, Inc.	0.00%	0.00%	0.00%	7.61%	3.35%	3.28%	3.73%	2.73%	3.39%	3.43%	3.75%	4.28%

Frequently Asked Questions

Can I hold both ARKG and HE in my portfolio?

ARKG and HE have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARKG or HE?

ARKG has higher volatility (11.90%) compared to HE (9.75%). In terms of maximum drawdown, ARKG dropped -83.59% vs HE's -83.34%.

Which has better risk-adjusted returns?

ARKG currently has the higher Sharpe Ratio (1.31 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.