HE vs. ARKG

Last updated Jun 3, 2026

HE (Hawaiian Electric Industries, Inc.) is a stock, while ARKG (ARK Genomic Revolution Multi-Sector ETF) is Health & Biotech Equities fund actively managed by ARK. Over the past 10 years, HE returned -6.11%/yr vs 7.24%/yr for ARKG. At a 0.14 correlation, their price movements are largely independent.

Performance

HE vs. ARKG - Performance Comparison

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

Returns By Period

In the year-to-date period, HE achieves a 10.33% return, which is significantly lower than ARKG's 17.36% return. Over the past 10 years, HE has underperformed ARKG with an annualized return of -6.11%, while ARKG has yielded a comparatively higher 7.24% annualized return.

HE

• 1D: 3.04%
• 1M: -11.13%
• YTD: 10.33%
• 6M: 21.70%
• 1Y: 26.47%
• 3Y*: -27.68%
• 5Y*: -19.21%
• 10Y*: -6.11%

ARKG

• 1D: -2.16%
• 1M: 12.21%
• YTD: 17.36%
• 6M: 14.32%
• 1Y: 57.12%
• 3Y*: 0.75%
• 5Y*: -15.45%
• 10Y*: 7.24%

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

HE vs. ARKG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HE Hawaiian Electric Industries, Inc.	10.33%	26.41%	-31.43%	-64.58%	4.31%	21.27%	-21.90%	31.91%	4.97%	13.42%
ARKG ARK Genomic Revolution Multi-Sector ETF	17.36%	23.04%	-28.24%	16.22%	-53.90%	-33.92%	180.40%	44.00%	-1.26%	46.61%

Correlation

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

Return for Risk

HE vs. ARKG — Risk / Return Rank

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

HE

HE Risk / Return Rank: 63
HE Sharpe Ratio Rank: 66
HE Sortino Ratio Rank: 60
HE Omega Ratio Rank: 59
HE Calmar Ratio Rank: 64
HE Martin Ratio Rank: 64

ARKG

ARKG Risk / Return Rank: 39
ARKG Sharpe Ratio Rank: 39
ARKG Sortino Ratio Rank: 40
ARKG Omega Ratio Rank: 35
ARKG Calmar Ratio Rank: 45
ARKG Martin Ratio Rank: 35

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.

HE vs. ARKG - Risk-Adjusted Trends Comparison

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

	HE	ARKG	Difference
Sharpe ratio Return per unit of total volatility	0.80	1.40	-0.59
Sortino ratio Return per unit of downside risk	1.33	2.08	-0.75
Omega ratio Gain probability vs. loss probability	1.16	1.23	-0.07
Calmar ratio Return relative to maximum drawdown	1.18	2.27	-1.09
Martin ratio Return relative to average drawdown	2.75	5.46	-2.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HE vs. ARKG - Sharpe Ratio Comparison

The current HE Sharpe Ratio is 0.80, which is lower than the ARKG Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of HE and ARKG, 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

	HE	ARKG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.40	-0.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.36	-0.34	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.15	0.18	-0.32
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.13	+0.06

Drawdowns

HE vs. ARKG - Drawdown Comparison

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

Drawdown Indicators

	HE	ARKG	Difference
Max Drawdown Largest peak-to-trough decline	-83.34%	-83.59%	+0.25%
Max Drawdown (1Y) Largest decline over 1 year	-22.89%	-27.51%	+4.62%
Max Drawdown (3Y) Largest decline over 3 years	-80.01%	-51.96%	-28.05%
Max Drawdown (5Y) Largest decline over 5 years	-81.39%	-80.18%	-1.21%
Max Drawdown (10Y) Largest decline over 10 years	-83.34%	-83.59%	+0.25%
Current Drawdown Current decline from peak	-70.79%	-69.58%	-1.21%
Average Drawdown Average peak-to-trough decline	-14.18%	-35.86%	+21.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.84%	11.46%	-1.62%

Volatility

HE vs. ARKG - Volatility Comparison

The current volatility for Hawaiian Electric Industries, Inc. (HE) is 9.75%, while ARK Genomic Revolution Multi-Sector ETF (ARKG) has a volatility of 11.89%. This indicates that HE experiences smaller price fluctuations and is considered to be less risky than ARKG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HE	ARKG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.75%	11.89%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	26.47%	29.12%	-2.65%
Volatility (1Y) Calculated over the trailing 1-year period	33.10%	41.24%	-8.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.45%	45.62%	+7.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.80%	41.13%	+0.67%

Dividends

HE vs. ARKG - Dividend Comparison

Neither HE nor ARKG 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 HE and ARKG in my portfolio?

HE and ARKG 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, HE or ARKG?

ARKG has higher volatility (11.89%) compared to HE (9.75%). In terms of maximum drawdown, HE dropped -83.34% vs ARKG's -83.59%.

Which has better risk-adjusted returns?

ARKG currently has the higher Sharpe Ratio (1.40 vs 0.80), 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.