HCM vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about HUTCHMED (China) Limited (HCM) and S&P 500 Index (^GSPC).

Performance

HCM vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in HUTCHMED (China) Limited (HCM) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

HCM vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HCM HUTCHMED (China) Limited	13.58%	-7.49%	-20.43%	22.53%	-57.87%	9.56%	27.72%	8.58%	-41.43%	190.49%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, HCM achieves a 13.58% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, HCM has underperformed ^GSPC with an annualized return of 1.15%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

HCM

• 1D: 1.20%
• 1M: 8.96%
• YTD: 13.58%
• 6M: -5.14%
• 1Y: -5.73%
• 3Y*: 5.16%
• 5Y*: -11.25%
• 10Y*: 1.15%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

HCM vs. ^GSPC — Risk / Return Rank

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

HCM

HCM Risk / Return Rank: 36
HCM Sharpe Ratio Rank: 34
HCM Sortino Ratio Rank: 32
HCM Omega Ratio Rank: 32
HCM Calmar Ratio Rank: 40
HCM Martin Ratio Rank: 40

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

HCM vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for HUTCHMED (China) Limited (HCM) and S&P 500 Index (^GSPC). 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.

	HCM	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	-0.12	0.92	-1.04
Sortino ratio Return per unit of downside risk	0.16	1.41	-1.25
Omega ratio Gain probability vs. loss probability	1.02	1.21	-0.19
Calmar ratio Return relative to maximum drawdown	0.02	1.41	-1.39
Martin ratio Return relative to average drawdown	0.03	6.61	-6.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HCM vs. ^GSPC - Sharpe Ratio Comparison

The current HCM Sharpe Ratio is -0.12, which is lower than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of HCM and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HCM	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	0.92	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.17	0.61	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.68	-0.66
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.46	-0.44

Correlation

The correlation between HCM and ^GSPC is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Drawdowns

HCM vs. ^GSPC - Drawdown Comparison

The maximum HCM drawdown since its inception was -82.18%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for HCM and ^GSPC.

Drawdown Indicators

	HCM	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-82.18%	-56.78%	-25.40%
Max Drawdown (1Y) Largest decline over 1 year	-31.39%	-12.14%	-19.25%
Max Drawdown (5Y) Largest decline over 5 years	-82.18%	-25.43%	-56.75%
Max Drawdown (10Y) Largest decline over 10 years	-82.18%	-33.92%	-48.26%
Current Drawdown Current decline from peak	-64.74%	-5.78%	-58.96%
Average Drawdown Average peak-to-trough decline	-39.67%	-10.75%	-28.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	19.55%	2.60%	+16.95%

Volatility

HCM vs. ^GSPC - Volatility Comparison

HUTCHMED (China) Limited (HCM) has a higher volatility of 9.32% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that HCM's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCM	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.32%	5.37%	+3.95%
Volatility (6M) Calculated over the trailing 6-month period	21.70%	9.55%	+12.15%
Volatility (1Y) Calculated over the trailing 1-year period	47.83%	18.33%	+29.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.28%	16.90%	+49.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.46%	18.05%	+41.41%