HEAE.L vs. BIGT.L
HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) and BIGT.L (L&G Pharma Breakthrough UCITS ETF) are both Health & Biotech Equities funds - HEAE.L tracks the MSCI World/Health Care NR USD while BIGT.L tracks the NASDAQ Biotechnology TR USD. Both are passively managed. Over the past 3 years, HEAE.L returned 2.88%/yr vs 2.96%/yr for BIGT.L. At a 0.46 correlation, their price movements are largely independent. HEAE.L charges 0.18%/yr vs 0.49%/yr for BIGT.L.
Performance
HEAE.L vs. BIGT.L - Performance Comparison
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Different Trading Currencies
HEAE.L is traded in GBP, while BIGT.L is traded in GBp. To make them comparable, the BIGT.L values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, HEAE.L achieves a -2.42% return, which is significantly lower than BIGT.L's -0.70% return.
HEAE.L
- 1D
- 3.29%
- 1M
- 1.82%
- YTD
- -2.42%
- 6M
- -1.32%
- 1Y
- 9.06%
- 3Y*
- 2.88%
- 5Y*
- —
- 10Y*
- —
BIGT.L
- 1D
- 2.65%
- 1M
- -3.25%
- YTD
- -0.70%
- 6M
- -3.88%
- 1Y
- 25.65%
- 3Y*
- 2.96%
- 5Y*
- 2.49%
- 10Y*
- —
HEAE.L vs. BIGT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HEAE.L SPDR MSCI Europe Health Care UCITS ETF | -2.42% | 13.38% | -1.21% | 5.53% | -5.60% |
BIGT.L L&G Pharma Breakthrough UCITS ETF | -0.70% | 27.03% | -3.16% | -14.88% | 0.72% |
Correlation
The correlation between HEAE.L and BIGT.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 HEAE.L and BIGT.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
HEAE.L vs. BIGT.L — Risk / Return Rank
HEAE.L
BIGT.L
HEAE.L vs. BIGT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) and L&G Pharma Breakthrough UCITS ETF (BIGT.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.
| HEAE.L | BIGT.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 | 1.11 | 1.24 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 2.57 | -1.91 |
| Martin ratioReturn relative to average drawdown | 1.57 | 7.42 | -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
| HEAE.L | BIGT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 1.39 | -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 | 0.14 | 0.22 | -0.07 |
Drawdowns
HEAE.L vs. BIGT.L - Drawdown Comparison
The maximum HEAE.L drawdown since its inception was -24.51%, smaller than the maximum BIGT.L drawdown of -30.23%. Use the drawdown chart below to compare losses from any high point for HEAE.L and BIGT.L.
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Drawdown Indicators
| HEAE.L | BIGT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.51% | -30.23% | +5.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -9.93% | -3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -24.51% | -23.74% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | — | -30.23% | — |
Current DrawdownCurrent decline from peak | -10.88% | -5.41% | -5.47% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -10.57% | +2.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.78% | 3.45% | +2.33% |
Volatility
HEAE.L vs. BIGT.L - Volatility Comparison
The current volatility for SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) is 5.60%, while L&G Pharma Breakthrough UCITS ETF (BIGT.L) has a volatility of 6.35%. This indicates that HEAE.L experiences smaller price fluctuations and is considered to be less risky than BIGT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEAE.L | BIGT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 6.35% | -0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 14.10% | -1.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 18.38% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 16.86% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 18.38% | -2.10% |
HEAE.L vs. BIGT.L - Expense Ratio Comparison
HEAE.L has a 0.18% expense ratio, which is lower than BIGT.L's 0.49% expense ratio.
Dividends
HEAE.L vs. BIGT.L - Dividend Comparison
Neither HEAE.L nor BIGT.L has paid dividends to shareholders.
Frequently Asked Questions
HEAE.L and BIGT.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.
HEAE.L tracks MSCI World/Health Care NR USD, while BIGT.L tracks NASDAQ Biotechnology TR USD. They also come from different issuers: State Street and Legal & General. Their fees differ too: 0.18% for HEAE.L and 0.49% for BIGT.L.
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