HEAL vs. PSCH

Last updated Jun 4, 2026

HEAL (Global X HealthTech ETF) and PSCH (Invesco S&P SmallCap Health Care ETF) are both Health & Biotech Equities funds - HEAL tracks the Global X HealthTech Index while PSCH tracks the S&P SmallCap 600 Health Care Index. Both are passively managed. Over the past 5 years, HEAL returned -14.71%/yr vs -5.72%/yr for PSCH. A 0.76 correlation means they provide meaningful diversification when combined. HEAL charges 0.50%/yr vs 0.29%/yr for PSCH.

Performance

HEAL vs. PSCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X HealthTech ETF (HEAL) and Invesco S&P SmallCap Health Care ETF (PSCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HEAL achieves a -15.57% return, which is significantly lower than PSCH's 1.80% return.

HEAL

• 1D: -1.16%
• 1M: -2.59%
• YTD: -15.57%
• 6M: -20.78%
• 1Y: -22.08%
• 3Y*: -10.46%
• 5Y*: -14.71%
• 10Y*: —

PSCH

• 1D: 1.28%
• 1M: -0.71%
• YTD: 1.80%
• 6M: -1.68%
• 1Y: 10.18%
• 3Y*: 0.45%
• 5Y*: -5.72%
• 10Y*: 6.81%

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

HEAL vs. PSCH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
HEAL Global X HealthTech ETF	-15.57%	-0.62%	-2.87%	-12.61%	-29.99%	-14.21%	23.87%
PSCH Invesco S&P SmallCap Health Care ETF	1.80%	-0.49%	3.77%	-2.71%	-25.15%	5.75%	31.88%

Correlation

The correlation between HEAL and PSCH is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 31, 2020	0.76

The correlation between HEAL and PSCH has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

HEAL vs. PSCH - Sectors Allocation Comparison

Sectors	HEAL	PSCH
Healthcare	96.0%	97.3%
Technology	3.2%	1.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	1.1%
Industrials	-	0.7%
Real Estate	-	-
Utilities	-	-

Return for Risk

HEAL vs. PSCH — Risk / Return Rank

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

HEAL

HEAL Risk / Return Rank: 2
HEAL Sharpe Ratio Rank: 1
HEAL Sortino Ratio Rank: 2
HEAL Omega Ratio Rank: 2
HEAL Calmar Ratio Rank: 3
HEAL Martin Ratio Rank: 1

PSCH

PSCH Risk / Return Rank: 17
PSCH Sharpe Ratio Rank: 17
PSCH Sortino Ratio Rank: 17
PSCH Omega Ratio Rank: 17
PSCH Calmar Ratio Rank: 17
PSCH Martin Ratio Rank: 18

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.

HEAL vs. PSCH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X HealthTech ETF (HEAL) and Invesco S&P SmallCap Health Care ETF (PSCH). 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.

	HEAL	PSCH	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	0.51	-1.52
Sortino ratio: Return per unit of downside risk	-1.40	0.87	-2.27
Omega ratio: Gain probability vs. loss probability	0.85	1.10	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.72	0.67	-1.39
Martin ratio: Return relative to average drawdown	-1.46	1.84	-3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEAL vs. PSCH - Sharpe Ratio Comparison

The current HEAL Sharpe Ratio is -1.01, which is lower than the PSCH Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of HEAL and PSCH, 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

	HEAL	PSCH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.01	0.51	-1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.56	-0.25	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.29	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.39	0.51	-0.91

Drawdowns

HEAL vs. PSCH - Drawdown Comparison

The maximum HEAL drawdown since its inception was -65.76%, which is greater than PSCH's maximum drawdown of -46.32%. Use the drawdown chart below to compare losses from any high point for HEAL and PSCH.

Drawdown Indicators

	HEAL	PSCH	Difference
Max Drawdown Largest peak-to-trough decline	-65.76%	-46.32%	-19.44%
Max Drawdown (1Y) Largest decline over 1 year	-30.71%	-15.36%	-15.35%
Max Drawdown (3Y) Largest decline over 3 years	-35.78%	-22.98%	-12.80%
Max Drawdown (5Y) Largest decline over 5 years	-60.36%	-46.32%	-14.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.32%	—
Current Drawdown Current decline from peak	-63.55%	-30.59%	-32.96%
Average Drawdown Average peak-to-trough decline	-43.02%	-13.46%	-29.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.13%	5.54%	+9.59%

Volatility

HEAL vs. PSCH - Volatility Comparison

Global X HealthTech ETF (HEAL) has a higher volatility of 5.21% compared to Invesco S&P SmallCap Health Care ETF (PSCH) at 4.19%. This indicates that HEAL's price experiences larger fluctuations and is considered to be riskier than PSCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEAL	PSCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	4.19%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	14.06%	+1.63%
Volatility (1Y) Calculated over the trailing 1-year period	21.89%	20.26%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.37%	22.89%	+3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.18%	23.63%	+2.55%

HEAL vs. PSCH - Expense Ratio Comparison

HEAL has a 0.50% expense ratio, which is higher than PSCH's 0.29% expense ratio.

Dividends

HEAL vs. PSCH - Dividend Comparison

HEAL's dividend yield for the trailing twelve months is around 0.39%, more than PSCH's 0.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
HEAL Global X HealthTech ETF	0.39%	0.33%	0.00%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.00%
PSCH Invesco S&P SmallCap Health Care ETF	0.01%	0.04%	0.27%	0.01%	2.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%

Frequently Asked Questions

Can I hold both HEAL and PSCH in my portfolio?

HEAL and PSCH have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HEAL or PSCH?

HEAL has higher volatility (5.21%) compared to PSCH (4.19%). In terms of maximum drawdown, HEAL dropped -65.76% vs PSCH's -46.32%.

Which ETF is better, HEAL or PSCH?

On 5-year performance, PSCH leads with -5.72% vs -14.71% for HEAL. On fees, PSCH is cheaper at 0.29% per year. On volatility, PSCH has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HEAL or PSCH?

Over the 5-year period, PSCH has performed better with a -5.72% return vs -14.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HEAL or PSCH?

PSCH is cheaper with a 0.29% expense ratio, compared with 0.50% for HEAL.

Which ETF pays a higher dividend yield, HEAL or PSCH?

HEAL has the higher dividend yield at 0.39%, compared with 0.01% for PSCH.

What is the main difference between HEAL and PSCH?

HEAL tracks Global X HealthTech Index, while PSCH tracks S&P SmallCap 600 Health Care Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for HEAL and 0.29% for PSCH.

Which has better risk-adjusted returns?

PSCH currently has the higher Sharpe Ratio (0.51 vs -1.01), 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.