HEAW.L vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR MSCI World Health Care UCITS ETF (HEAW.L) and S&P 500 Index (^GSPC).

HEAW.L is a passively managed fund by State Street that tracks the performance of the MSCI World/Health Care NR USD. It was launched on Apr 29, 2016.

Performance

HEAW.L vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in SPDR MSCI World Health Care UCITS ETF (HEAW.L) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

HEAW.L vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HEAW.L SPDR MSCI World Health Care UCITS ETF	-2.68%	7.46%	2.52%	-2.05%	5.82%
^GSPC S&P 500 Index	-2.36%	8.10%	25.46%	18.02%	-9.15%

Different Trading Currencies

HEAW.L is traded in GBP, while ^GSPC is traded in USD. To make them comparable, the ^GSPC values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, HEAW.L achieves a -2.68% return, which is significantly higher than ^GSPC's -2.82% return.

HEAW.L

• 1D: 1.16%
• 1M: -5.20%
• YTD: -2.68%
• 6M: 5.46%
• 1Y: 2.93%
• 3Y*: 3.24%
• 5Y*: —
• 10Y*: —

^GSPC

• 1D: 0.00%
• 1M: -3.82%
• YTD: -2.82%
• 6M: -0.84%
• 1Y: 13.26%
• 3Y*: 14.01%
• 5Y*: 11.18%
• 10Y*: 12.98%

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

Return for Risk

HEAW.L vs. ^GSPC — Risk / Return Rank

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

HEAW.L

HEAW.L Risk / Return Rank: 17
HEAW.L Sharpe Ratio Rank: 16
HEAW.L Sortino Ratio Rank: 15
HEAW.L Omega Ratio Rank: 15
HEAW.L Calmar Ratio Rank: 20
HEAW.L Martin Ratio Rank: 17

^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.

HEAW.L vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI World Health Care UCITS ETF (HEAW.L) 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.

	HEAW.L	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.19	0.71	-0.52
Sortino ratio Return per unit of downside risk	0.37	1.11	-0.75
Omega ratio Gain probability vs. loss probability	1.05	1.17	-0.13
Calmar ratio Return relative to maximum drawdown	0.42	1.18	-0.76
Martin ratio Return relative to average drawdown	0.83	4.60	-3.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HEAW.L vs. ^GSPC - Sharpe Ratio Comparison

The current HEAW.L Sharpe Ratio is 0.19, which is lower than the ^GSPC Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of HEAW.L 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

	HEAW.L	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.19	0.71	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.54	-0.34

Correlation

The correlation between HEAW.L and ^GSPC is 0.30, 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

HEAW.L vs. ^GSPC - Drawdown Comparison

The maximum HEAW.L drawdown since its inception was -18.85%, smaller than the maximum ^GSPC drawdown of -37.67%. Use the drawdown chart below to compare losses from any high point for HEAW.L and ^GSPC.

Drawdown Indicators

	HEAW.L	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-18.85%	-56.78%	+37.93%
Max Drawdown (1Y) Largest decline over 1 year	-10.30%	-12.14%	+1.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	-5.95%	-5.78%	-0.17%
Average Drawdown Average peak-to-trough decline	-5.49%	-10.75%	+5.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	2.60%	+2.17%

Volatility

HEAW.L vs. ^GSPC - Volatility Comparison

The current volatility for SPDR MSCI World Health Care UCITS ETF (HEAW.L) is 4.26%, while S&P 500 Index (^GSPC) has a volatility of 4.54%. This indicates that HEAW.L experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEAW.L	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.54%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	9.49%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	15.32%	18.75%	-3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.97%	15.90%	-2.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.97%	18.17%	-5.20%