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 10 years, HEAW.L returned 4.94%/yr vs 13.12%/yr for ^GSPC. At a 0.49 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 0.93% return, which is significantly lower than ^GSPC's 10.77% return. Over the past 10 years, HEAW.L has underperformed ^GSPC with an annualized return of 4.94%, while ^GSPC has yielded a comparatively higher 13.12% annualized return.
HEAW.L
- 1D
- 0.00%
- 1M
- 3.13%
- 6M
- -0.89%
- YTD
- 0.93%
- 1Y
- 16.50%
- 3Y*
- 5.92%
- 5Y*
- -1.69%
- 10Y*
- 4.94%
^GSPC
- 1D
- 0.00%
- 1M
- -0.10%
- 6M
- 9.25%
- YTD
- 10.77%
- 1Y
- 20.65%
- 3Y*
- 17.81%
- 5Y*
- 12.35%
- 10Y*
- 13.12%
HEAW.L vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HEAW.L SPDR MSCI World Health Care UCITS ETF | 0.93% | 7.46% | 2.52% | -2.05% | -21.48% | 19.59% | 13.26% | 23.34% | 2.48% | 19.69% |
^GSPC S&P 500 Index | 10.17% | 8.10% | 25.46% | 18.02% | -9.86% | 28.09% | 12.84% | 23.98% | -0.68% | 9.09% |
Correlation
The correlation between HEAW.L and ^GSPC is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2011 | 0.49 |
Over the past year, the correlation between HEAW.L and ^GSPC has dropped to 0.12 - well below their long-term average of 0.49, suggesting their price drivers have been diverging.
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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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HEAW.L | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.58 | -1.03 |
| Martin ratioReturn relative to average drawdown | 3.95 | 9.41 | -5.46 |
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Drawdowns
HEAW.L vs. ^GSPC - Drawdown Comparison
The maximum HEAW.L drawdown since its inception was -32.15%, 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 | -32.15% | -37.07% | +4.92% |
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 | -32.15% | -22.15% | -10.00% |
Max Drawdown (10Y)Largest decline over 10 years | -32.15% | -26.01% | -6.14% |
Current DrawdownCurrent decline from peak | -14.72% | -0.88% | -13.84% |
Average DrawdownAverage peak-to-trough decline | -8.85% | -5.29% | -3.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 2.20% | +1.98% |
Volatility
HEAW.L vs. ^GSPC - Volatility Comparison
SPDR MSCI World Health Care UCITS ETF (HEAW.L) has a higher volatility of 5.29% compared to S&P 500 Index (^GSPC) at 3.30%. 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 | 5.29% | 3.30% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 10.65% | 8.97% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 12.01% | +2.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 15.96% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.99% | 18.05% | -2.06% |
Frequently Asked Questions
HEAW.L and ^GSPC have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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