HEAE.L vs. SGLN.L
HEAE.L (SPDR MSCI Europe Health Care UCITS ETF) and SGLN.L (iShares Physical Gold ETC) are both exchange-traded funds - HEAE.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while SGLN.L is a Gold fund tracking the LBMA Gold Price. Both are passively managed. Over the past 3 years, HEAE.L returned 2.88%/yr vs 28.17%/yr for SGLN.L. At a 0.09 correlation, their price movements are largely independent. HEAE.L charges 0.18%/yr vs 0.12%/yr for SGLN.L.
Performance
HEAE.L vs. SGLN.L - Performance Comparison
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Different Trading Currencies
HEAE.L is traded in GBP, while SGLN.L is traded in GBp. To make them comparable, the SGLN.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 SGLN.L's 3.89% return.
HEAE.L
- 1D
- 3.29%
- 1M
- 1.82%
- YTD
- -2.42%
- 6M
- -1.32%
- 1Y
- 9.06%
- 3Y*
- 2.88%
- 5Y*
- —
- 10Y*
- —
SGLN.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.89%
- 6M
- 5.42%
- 1Y
- 33.75%
- 3Y*
- 28.17%
- 5Y*
- 20.12%
- 10Y*
- 14.27%
HEAE.L vs. SGLN.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% |
SGLN.L iShares Physical Gold ETC | 3.89% | 53.66% | 28.20% | 7.24% | 1.00% |
Correlation
The correlation between HEAE.L and SGLN.L is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.09 |
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Return for Risk
HEAE.L vs. SGLN.L — Risk / Return Rank
HEAE.L
SGLN.L
HEAE.L vs. SGLN.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 iShares Physical Gold ETC (SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.29 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.66 | 1.91 | -1.26 |
| Martin ratioReturn relative to average drawdown | 1.57 | 5.05 | -3.48 |
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 | SGLN.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 1.45 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 1.23 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.14 | 0.55 | -0.41 |
Drawdowns
HEAE.L vs. SGLN.L - Drawdown Comparison
The maximum HEAE.L drawdown since its inception was -24.51%, smaller than the maximum SGLN.L drawdown of -41.71%. Use the drawdown chart below to compare losses from any high point for HEAE.L and SGLN.L.
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Drawdown Indicators
| HEAE.L | SGLN.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.51% | -41.71% | +17.20% |
Max Drawdown (1Y)Largest decline over 1 year | -13.73% | -17.57% | +3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -24.51% | -17.57% | -6.94% |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.57% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.91% | — |
Current DrawdownCurrent decline from peak | -10.88% | -16.01% | +5.13% |
Average DrawdownAverage peak-to-trough decline | -7.69% | -14.76% | +7.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.78% | 6.67% | -0.89% |
Volatility
HEAE.L vs. SGLN.L - Volatility Comparison
SPDR MSCI Europe Health Care UCITS ETF (HEAE.L) has a higher volatility of 5.60% compared to iShares Physical Gold ETC (SGLN.L) at 5.08%. This indicates that HEAE.L's price experiences larger fluctuations and is considered to be riskier than SGLN.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 | SGLN.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 5.08% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.12% | 20.08% | -7.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.79% | 23.19% | -6.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 16.30% | -0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 15.78% | +0.50% |
HEAE.L vs. SGLN.L - Expense Ratio Comparison
HEAE.L has a 0.18% expense ratio, which is higher than SGLN.L's 0.12% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
HEAE.L vs. SGLN.L - Dividend Comparison
Neither HEAE.L nor SGLN.L has paid dividends to shareholders.
Frequently Asked Questions
HEAE.L and SGLN.L have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLN.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLN.L is cheaper with a 0.12% expense ratio, compared with 0.18% for HEAE.L.
HEAE.L is categorized as Health & Biotech Equities, while SGLN.L is Gold. HEAE.L tracks MSCI World/Health Care NR USD, while SGLN.L tracks LBMA Gold Price. They also come from different issuers: State Street and iShares. Their fees differ too: 0.18% for HEAE.L and 0.12% for SGLN.L.
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