HEAW.L vs. ^GSPC
HEAW.L (SPDR MSCI World Health Care UCITS ETF) is Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while ^GSPC (S&P 500 Index) is an index. Over the past 3 years, HEAW.L returned 2.71%/yr vs 18.03%/yr for ^GSPC. At a 0.29 correlation, their price movements are largely independent.
Performance
HEAW.L vs. ^GSPC - Performance Comparison
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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 -2.73% return, which is significantly lower than ^GSPC's 11.24% return.
HEAW.L
- 1D
- 3.01%
- 1M
- 4.33%
- YTD
- -2.73%
- 6M
- -2.25%
- 1Y
- 12.68%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
^GSPC
- 1D
- 0.41%
- 1M
- 5.44%
- YTD
- 11.24%
- 6M
- 9.84%
- 1Y
- 28.25%
- 3Y*
- 18.03%
- 5Y*
- 13.60%
- 10Y*
- 14.50%
HEAW.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HEAW.L SPDR MSCI World Health Care UCITS ETF | -2.73% | 7.46% | 2.52% | -2.05% | 5.82% |
^GSPC S&P 500 Index | 11.24% | 8.10% | 25.46% | 18.02% | -9.15% |
Correlation
The correlation between HEAW.L and ^GSPC is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.29 |
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Return for Risk
HEAW.L vs. ^GSPC — Risk / Return Rank
HEAW.L
^GSPC
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 ratioReturn per unit of total volatility | -1.54 | ||
| Sortino ratioReturn per unit of downside risk | -1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.46 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 3.53 | -2.35 |
| Martin ratioReturn relative to average drawdown | 3.10 | 13.19 | -10.09 |
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
| HEAW.L | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 2.46 | -1.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.86 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.58 | -0.38 |
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 -37.07%. Use the drawdown chart below to compare losses from any high point for HEAW.L and ^GSPC.
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Drawdown Indicators
| HEAW.L | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.85% | -37.07% | +18.22% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -8.03% | -2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -22.15% | +3.30% |
Max Drawdown (5Y)Largest decline over 5 years | — | -22.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -26.01% | — |
Current DrawdownCurrent decline from peak | -6.00% | 0.00% | -6.00% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -5.32% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 2.15% | +1.93% |
Volatility
HEAW.L vs. ^GSPC - Volatility Comparison
SPDR MSCI World Health Care UCITS ETF (HEAW.L) has a higher volatility of 5.19% compared to S&P 500 Index (^GSPC) at 2.60%. This indicates that HEAW.L's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HEAW.L | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 2.60% | +2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 8.20% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 11.52% | +2.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 15.85% | -2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 18.15% | -5.04% |
Frequently Asked Questions
HEAW.L and ^GSPC have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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