BIGT.L vs. HEAE.L
BIGT.L (L&G Pharma Breakthrough UCITS ETF) and HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) are both Health & Biotech Equities funds - BIGT.L tracks the NASDAQ Biotechnology TR USD while HEAE.L tracks the MSCI World/Health Care NR USD. Both are passively managed. Over the past 3 years, BIGT.L returned 2.96%/yr vs 2.88%/yr for HEAE.L. At a 0.46 correlation, their price movements are largely independent. BIGT.L charges 0.49%/yr vs 0.18%/yr for HEAE.L.
Performance
BIGT.L vs. HEAE.L - Performance Comparison
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Different Trading Currencies
BIGT.L is traded in GBp, while HEAE.L is traded in GBP. To make them comparable, the HEAE.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, BIGT.L achieves a -0.70% return, which is significantly higher than HEAE.L's -2.42% return.
BIGT.L
- 1D
- 2.65%
- 1M
- -4.10%
- YTD
- -0.70%
- 6M
- -3.42%
- 1Y
- 26.08%
- 3Y*
- 2.96%
- 5Y*
- 2.49%
- 10Y*
- —
HEAE.L
- 1D
- 3.29%
- 1M
- 1.82%
- YTD
- -2.42%
- 6M
- -1.32%
- 1Y
- 9.06%
- 3Y*
- 2.88%
- 5Y*
- —
- 10Y*
- —
BIGT.L vs. HEAE.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BIGT.L L&G Pharma Breakthrough UCITS ETF | -0.70% | 27.03% | -3.16% | -14.88% | 0.72% |
HEAE.L SPDR MSCI Europe Health Care UCITS ETF | -2.42% | 13.38% | -1.21% | 5.53% | -5.60% |
Correlation
The correlation between BIGT.L and HEAE.L is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.46 |
The correlation between BIGT.L and HEAE.L shifts across timeframes, from 0.46 (all time) to 0.60 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BIGT.L vs. HEAE.L — Risk / Return Rank
BIGT.L
HEAE.L
BIGT.L vs. HEAE.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for L&G Pharma Breakthrough UCITS ETF (BIGT.L) and SPDR MSCI Europe Health Care UCITS ETF (HEAE.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.
| BIGT.L | HEAE.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.85 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.11 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.57 | 0.66 | +1.91 |
| Martin ratioReturn relative to average drawdown | 7.42 | 1.57 | +5.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BIGT.L | HEAE.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 0.54 | +0.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.14 | +0.07 |
Drawdowns
BIGT.L vs. HEAE.L - Drawdown Comparison
The maximum BIGT.L drawdown since its inception was -30.23%, which is greater than HEAE.L's maximum drawdown of -24.51%. Use the drawdown chart below to compare losses from any high point for BIGT.L and HEAE.L.
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Drawdown Indicators
| BIGT.L | HEAE.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.23% | -24.51% | -5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -9.93% | -13.73% | +3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -23.09% | -24.51% | +1.42% |
Max Drawdown (5Y)Largest decline over 5 years | -30.23% | — | — |
Current DrawdownCurrent decline from peak | -5.41% | -10.88% | +5.47% |
Average DrawdownAverage peak-to-trough decline | -10.57% | -7.69% | -2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 5.78% | -2.33% |
Volatility
BIGT.L vs. HEAE.L - Volatility Comparison
L&G Pharma Breakthrough UCITS ETF (BIGT.L) has a higher volatility of 6.35% compared to SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) at 5.60%. This indicates that BIGT.L's price experiences larger fluctuations and is considered to be riskier than HEAE.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BIGT.L | HEAE.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.35% | 5.60% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.10% | 12.12% | +1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.38% | 16.79% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 16.28% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.38% | 16.28% | +2.10% |
BIGT.L vs. HEAE.L - Expense Ratio Comparison
BIGT.L has a 0.49% expense ratio, which is higher than HEAE.L's 0.18% expense ratio.
Dividends
BIGT.L vs. HEAE.L - Dividend Comparison
Neither BIGT.L nor HEAE.L has paid dividends to shareholders.
Frequently Asked Questions
BIGT.L and HEAE.L have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEAE.L is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEAE.L is cheaper with a 0.18% expense ratio, compared with 0.49% for BIGT.L.
BIGT.L tracks NASDAQ Biotechnology TR USD, while HEAE.L tracks MSCI World/Health Care NR USD. They also come from different issuers: Legal & General and State Street. Their fees differ too: 0.49% for BIGT.L and 0.18% for HEAE.L.
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