GEHC vs. SPY
GEHC (GE HealthCare Technologies Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 3 years, GEHC returned -6.93%/yr vs 21.07%/yr for SPY. At a 0.48 correlation, their price movements are largely independent.
Performance
GEHC vs. SPY - Performance Comparison
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Returns By Period
In the year-to-date period, GEHC achieves a -21.05% return, which is significantly lower than SPY's 10.82% return.
GEHC
- 1D
- 0.03%
- 1M
- -1.98%
- 6M
- -26.55%
- YTD
- -21.05%
- 1Y
- -14.16%
- 3Y*
- -6.93%
- 5Y*
- —
- 10Y*
- —
SPY
- 1D
- 0.85%
- 1M
- 2.25%
- 6M
- 9.60%
- YTD
- 10.82%
- 1Y
- 21.79%
- 3Y*
- 21.07%
- 5Y*
- 13.05%
- 10Y*
- 15.25%
GEHC vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GEHC GE HealthCare Technologies Inc. | -21.05% | 5.11% | 1.26% | 43.01% |
SPY State Street SPDR S&P 500 ETF | 10.82% | 17.72% | 24.89% | 26.71% |
Correlation
The correlation between GEHC and SPY is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2023 | 0.48 |
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Return for Risk
GEHC vs. SPY — Risk / Return Rank
GEHC
SPY
GEHC vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GE HealthCare Technologies Inc. (GEHC) and State Street SPDR S&P 500 ETF (SPY). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GEHC | SPY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.18 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.32 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 2.46 | -2.90 |
| Martin ratioReturn relative to average drawdown | -0.94 | 10.74 | -11.68 |
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Drawdowns
GEHC vs. SPY - Drawdown Comparison
The maximum GEHC drawdown since its inception was -37.35%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for GEHC and SPY.
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Drawdown Indicators
| GEHC | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.35% | -55.19% | +17.84% |
Max Drawdown (1Y)Largest decline over 1 year | -32.47% | -8.88% | -23.59% |
Max Drawdown (3Y)Largest decline over 3 years | -37.35% | -18.76% | -18.59% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.50% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -30.85% | -0.78% | -30.07% |
Average DrawdownAverage peak-to-trough decline | -14.71% | -9.03% | -5.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.15% | 2.03% | +13.12% |
Volatility
GEHC vs. SPY - Volatility Comparison
GE HealthCare Technologies Inc. (GEHC) has a higher volatility of 8.95% compared to State Street SPDR S&P 500 ETF (SPY) at 4.53%. This indicates that GEHC's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GEHC | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 4.53% | +4.42% |
Volatility (6M)Calculated over the trailing 6-month period | 25.81% | 9.98% | +15.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.62% | 12.56% | +20.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.89% | 17.17% | +15.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.89% | 17.92% | +14.97% |
Dividends
GEHC vs. SPY - Dividend Comparison
GEHC's dividend yield for the trailing twelve months is around 0.22%, less than SPY's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GEHC GE HealthCare Technologies Inc. | 0.22% | 0.17% | 0.15% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.00% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Frequently Asked Questions
GEHC and SPY have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GEHC has higher volatility (8.95%) compared to SPY (4.53%). In terms of maximum drawdown, GEHC dropped -37.35% vs SPY's -55.19%.
SPY currently has the higher Sharpe Ratio (1.74 vs -0.44), 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.
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