HEAW.L vs. SPYL.L

Last updated Jun 5, 2026

HEAW.L (SPDR MSCI World Health Care UCITS ETF) and SPYL.L (SPDR S&P 500 UCITS ETF USD Acc) are both exchange-traded funds - HEAW.L is a Health & Biotech Equities fund tracking the MSCI World/Health Care NR USD, while SPYL.L is a S&P 500 fund tracking the S&P 500. Both are passively managed. Over the past year, HEAW.L returned 12.68% vs 29.05% for SPYL.L. At a 0.36 correlation, their price movements are largely independent. HEAW.L charges 0.30%/yr vs 0.03%/yr for SPYL.L.

Performance

HEAW.L vs. SPYL.L - 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 SPDR S&P 500 UCITS ETF USD Acc (SPYL.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

HEAW.L is traded in GBP, while SPYL.L is traded in USD. To make them comparable, the SPYL.L 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 SPYL.L's 10.73% return.

HEAW.L

• 1D: 3.01%
• 1M: 4.33%
• YTD: -2.73%
• 6M: -2.25%
• 1Y: 12.68%
• 3Y*: 2.71%
• 5Y*: —
• 10Y*: —

SPYL.L

• 1D: 0.00%
• 1M: 5.43%
• YTD: 10.73%
• 6M: 10.28%
• 1Y: 29.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HEAW.L vs. SPYL.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HEAW.L SPDR MSCI World Health Care UCITS ETF	-2.73%	7.46%	2.52%	5.62%
SPYL.L SPDR S&P 500 UCITS ETF USD Acc	10.80%	9.03%	27.52%	9.22%

Correlation

The correlation between HEAW.L and SPYL.L is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Nov 1, 2023	0.36

The correlation between HEAW.L and SPYL.L shifts across timeframes, from 0.24 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HEAW.L vs. SPYL.L — 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: 25
HEAW.L Sharpe Ratio Rank: 27
HEAW.L Sortino Ratio Rank: 27
HEAW.L Omega Ratio Rank: 25
HEAW.L Calmar Ratio Rank: 25
HEAW.L Martin Ratio Rank: 24

SPYL.L

SPYL.L Risk / Return Rank: 74
SPYL.L Sharpe Ratio Rank: 74
SPYL.L Sortino Ratio Rank: 79
SPYL.L Omega Ratio Rank: 73
SPYL.L Calmar Ratio Rank: 68
SPYL.L 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. SPYL.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 SPDR S&P 500 UCITS ETF USD Acc (SPYL.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	SPYL.L	Difference
Sharpe ratio: Return per unit of total volatility	0.92	2.42	-1.49
Sortino ratio: Return per unit of downside risk	1.45	3.30	-1.84
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	1.18	3.96	-2.78
Martin ratio: Return relative to average drawdown	3.10	13.51	-10.41
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. SPYL.L - Sharpe Ratio Comparison

The current HEAW.L Sharpe Ratio is 0.92, which is lower than the SPYL.L Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of HEAW.L and SPYL.L, 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

	HEAW.L	SPYL.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	2.42	-1.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	1.55	-1.35

Drawdowns

HEAW.L vs. SPYL.L - Drawdown Comparison

The maximum HEAW.L drawdown since its inception was -18.85%, smaller than the maximum SPYL.L drawdown of -21.16%. Use the drawdown chart below to compare losses from any high point for HEAW.L and SPYL.L.

Drawdown Indicators

	HEAW.L	SPYL.L	Difference
Max Drawdown Largest peak-to-trough decline	-18.85%	-21.16%	+2.31%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-7.21%	-3.50%
Max Drawdown (3Y) Largest decline over 3 years	-18.85%	—	—
Current Drawdown Current decline from peak	-6.00%	-0.28%	-5.72%
Average Drawdown Average peak-to-trough decline	-5.60%	-2.95%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.08%	2.13%	+1.95%

Volatility

HEAW.L vs. SPYL.L - Volatility Comparison

SPDR MSCI World Health Care UCITS ETF (HEAW.L) has a higher volatility of 5.19% compared to SPDR S&P 500 UCITS ETF USD Acc (SPYL.L) at 3.48%. This indicates that HEAW.L's price experiences larger fluctuations and is considered to be riskier than SPYL.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HEAW.L	SPYL.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	3.48%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	9.96%	8.60%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	13.70%	11.82%	+1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	14.13%	-1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.11%	14.13%	-1.02%

HEAW.L vs. SPYL.L - Expense Ratio Comparison

HEAW.L has a 0.30% expense ratio, which is higher than SPYL.L's 0.03% expense ratio.

Dividends

HEAW.L vs. SPYL.L - Dividend Comparison

Neither HEAW.L nor SPYL.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both HEAW.L and SPYL.L in my portfolio?

HEAW.L and SPYL.L have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HEAW.L or SPYL.L?

On fees, SPYL.L is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HEAW.L or SPYL.L?

SPYL.L is cheaper with a 0.03% expense ratio, compared with 0.30% for HEAW.L.

What is the main difference between HEAW.L and SPYL.L?

HEAW.L is categorized as Health & Biotech Equities, while SPYL.L is S&P 500. HEAW.L tracks MSCI World/Health Care NR USD, while SPYL.L tracks S&P 500. Their fees differ too: 0.30% for HEAW.L and 0.03% for SPYL.L.