HEAW.L vs. GNOG.L
HEAW.L (SPDR MSCI World Health Care UCITS ETF) and GNOG.L (Global X Genomics & Biotechnology UCITS ETF) are both Health & Biotech Equities funds tracking the MSCI World/Health Care NR USD, from State Street and Global X respectively. Both are passively managed. Over the past 3 years, HEAW.L returned 2.71%/yr vs -1.86%/yr for GNOG.L. At a 0.46 correlation, their price movements are largely independent. HEAW.L charges 0.30%/yr vs 0.50%/yr for GNOG.L.
Performance
HEAW.L vs. GNOG.L - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HEAW.L achieves a -2.73% return, which is significantly lower than GNOG.L's 12.27% return.
HEAW.L
- 1D
- 3.01%
- 1M
- 4.33%
- YTD
- -2.73%
- 6M
- -2.25%
- 1Y
- 12.68%
- 3Y*
- 2.71%
- 5Y*
- —
- 10Y*
- —
GNOG.L
- 1D
- 5.70%
- 1M
- 13.66%
- YTD
- 12.27%
- 6M
- 9.47%
- 1Y
- 59.40%
- 3Y*
- -1.86%
- 5Y*
- —
- 10Y*
- —
HEAW.L vs. GNOG.L - 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% |
GNOG.L Global X Genomics & Biotechnology UCITS ETF | 12.27% | 12.03% | -16.98% | -11.35% | -13.86% |
Correlation
The correlation between HEAW.L and GNOG.L is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.46 |
The correlation between HEAW.L and GNOG.L has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HEAW.L vs. GNOG.L — Risk / Return Rank
HEAW.L
GNOG.L
HEAW.L vs. GNOG.L - 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 Global X Genomics & Biotechnology UCITS ETF (GNOG.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.
| HEAW.L | GNOG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.35 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | 3.44 | -2.26 |
| Martin ratioReturn relative to average drawdown | 3.10 | 8.72 | -5.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| HEAW.L | GNOG.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 2.16 | -1.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | -0.36 | +0.55 |
Drawdowns
HEAW.L vs. GNOG.L - Drawdown Comparison
The maximum HEAW.L drawdown since its inception was -18.85%, smaller than the maximum GNOG.L drawdown of -67.50%. Use the drawdown chart below to compare losses from any high point for HEAW.L and GNOG.L.
Loading charts...
Drawdown Indicators
| HEAW.L | GNOG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.85% | -67.50% | +48.65% |
Max Drawdown (1Y)Largest decline over 1 year | -10.71% | -17.16% | +6.45% |
Max Drawdown (3Y)Largest decline over 3 years | -18.85% | -47.97% | +29.12% |
Current DrawdownCurrent decline from peak | -6.00% | -41.78% | +35.78% |
Average DrawdownAverage peak-to-trough decline | -5.60% | -44.20% | +38.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.08% | 6.79% | -2.71% |
Volatility
HEAW.L vs. GNOG.L - Volatility Comparison
The current volatility for SPDR MSCI World Health Care UCITS ETF (HEAW.L) is 5.19%, while Global X Genomics & Biotechnology UCITS ETF (GNOG.L) has a volatility of 7.97%. This indicates that HEAW.L experiences smaller price fluctuations and is considered to be less risky than GNOG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HEAW.L | GNOG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 7.97% | -2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.96% | 19.73% | -9.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 27.38% | -13.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 31.21% | -18.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 31.21% | -18.10% |
HEAW.L vs. GNOG.L - Expense Ratio Comparison
HEAW.L has a 0.30% expense ratio, which is lower than GNOG.L's 0.50% expense ratio.
Dividends
HEAW.L vs. GNOG.L - Dividend Comparison
Neither HEAW.L nor GNOG.L has paid dividends to shareholders.
Frequently Asked Questions
HEAW.L and GNOG.L have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HEAW.L is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HEAW.L is cheaper with a 0.30% expense ratio, compared with 0.50% for GNOG.L.
Both ETFs track MSCI World/Health Care NR USD. They also come from different issuers: State Street and Global X. Their fees differ too: 0.30% for HEAW.L and 0.50% for GNOG.L.
Find the right allocation for HEAW.L and GNOG.L
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer