HLN vs. SDZNY

Last updated Jun 26, 2026

HLN (Haleon plc) and SDZNY (Sandoz Group AG) are both stocks. Both operate in the Drug Manufacturers - Specialty & Generic industry within the Healthcare sector. Over the past year, HLN returned -10.00% vs 72.64% for SDZNY. At a 0.17 correlation, their price movements are largely independent.

Performance

HLN vs. SDZNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Haleon plc (HLN) and Sandoz Group AG (SDZNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HLN achieves a -7.10% return, which is significantly lower than SDZNY's 25.75% return.

HLN

• 1D: 0.43%
• 1M: 0.32%
• YTD: -7.10%
• 6M: -7.00%
• 1Y: -10.00%
• 3Y*: 5.76%
• 5Y*: —
• 10Y*: —

SDZNY

• 1D: 1.77%
• 1M: 9.25%
• YTD: 25.75%
• 6M: 23.01%
• 1Y: 72.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HLN vs. SDZNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HLN Haleon plc	-7.10%	7.84%	17.99%	-0.84%
SDZNY Sandoz Group AG	25.75%	83.00%	28.40%	19.80%

Correlation

The correlation between HLN and SDZNY is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 4, 2023	0.17

Fundamentals

Market Cap HLN : $41.54B SDZNY : $39.56B
EPS HLN : £0.62 SDZNY : $1.66
PE Ratio HLN : 11.38 SDZNY : 54.59
PEG Ratio HLN : 1.76 SDZNY : 0.26
PS Ratio HLN : 1.64 SDZNY : 2.17
PB Ratio HLN : 1.92 SDZNY : 4.22
Total Revenue (TTM) HLN : £19.27B SDZNY : $18.19B
Gross Profit (TTM) HLN : £12.29B SDZNY : $8.61B
EBITDA (TTM) HLN : £4.76B SDZNY : $2.13B

Return for Risk

HLN vs. SDZNY — Risk / Return Rank

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

HLN

HLN Risk / Return Rank: 24
HLN Sharpe Ratio Rank: 23
HLN Sortino Ratio Rank: 21
HLN Omega Ratio Rank: 22
HLN Calmar Ratio Rank: 27
HLN Martin Ratio Rank: 24

SDZNY

SDZNY Risk / Return Rank: 90
SDZNY Sharpe Ratio Rank: 92
SDZNY Sortino Ratio Rank: 91
SDZNY Omega Ratio Rank: 90
SDZNY Calmar Ratio Rank: 89
SDZNY Martin Ratio Rank: 89

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.

HLN vs. SDZNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Haleon plc (HLN) and Sandoz Group AG (SDZNY). 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.

	HLN	SDZNY	Difference
Sharpe ratio: Return per unit of total volatility	-0.46	2.32	-2.78
Sortino ratio: Return per unit of downside risk	-0.53	3.22	-3.74
Omega ratio: Gain probability vs. loss probability	0.94	1.40	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.46	3.83	-4.29
Martin ratio: Return relative to average drawdown	-0.95	10.04	-10.99

HLN vs. SDZNY - Sharpe Ratio Comparison

The current HLN Sharpe Ratio is -0.46, which is lower than the SDZNY Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of HLN and SDZNY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HLN vs. SDZNY - Drawdown Comparison

The maximum HLN drawdown since its inception was -25.43%, roughly equal to the maximum SDZNY drawdown of -25.34%. Use the drawdown chart below to compare losses from any high point for HLN and SDZNY.

Drawdown Indicators

	HLN	SDZNY	Difference
Max Drawdown Largest peak-to-trough decline	-25.43%	-25.34%	-0.09%
Max Drawdown (1Y) Largest decline over 1 year	-21.78%	-19.09%	-2.69%
Max Drawdown (3Y) Largest decline over 3 years	-23.11%	—	—
Current Drawdown Current decline from peak	-17.18%	-1.96%	-15.22%
Average Drawdown Average peak-to-trough decline	-8.60%	-5.81%	-2.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.88%	7.26%	+3.62%

Volatility

HLN vs. SDZNY - Volatility Comparison

Haleon plc (HLN) has a higher volatility of 8.24% compared to Sandoz Group AG (SDZNY) at 6.70%. This indicates that HLN's price experiences larger fluctuations and is considered to be riskier than SDZNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLN	SDZNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	6.70%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	16.79%	23.38%	-6.59%
Volatility (1Y) Calculated over the trailing 1-year period	21.85%	31.53%	-9.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.93%	30.57%	-6.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.93%	30.57%	-6.64%

Dividends

HLN vs. SDZNY - Dividend Comparison

HLN's dividend yield for the trailing twelve months is around 2.04%, more than SDZNY's 1.13% yield.

Position	TTM	2025	2024	2023
HLN Haleon plc	2.04%	1.73%	1.65%	1.26%
SDZNY Sandoz Group AG	1.13%	1.00%	1.22%	0.00%

Financials

HLN vs. SDZNY - Profitability Comparison

The chart below illustrates the profitability comparison between Haleon plc and Sandoz Group AG over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

HLN - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Haleon plc reported a gross profit of 3.59B and revenue of 5.52B. Therefore, the gross margin over that period was 65.0%.

SDZNY - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Sandoz Group AG reported a gross profit of 2.25B and revenue of 4.64B. Therefore, the gross margin over that period was 48.4%.

HLN - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Haleon plc reported an operating income of 1.25B and revenue of 5.52B, resulting in an operating margin of 22.7%.

SDZNY - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Sandoz Group AG reported an operating income of 808.02M and revenue of 4.64B, resulting in an operating margin of 17.4%.

HLN - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Haleon plc reported a net income of 855.69M and revenue of 5.52B, resulting in a net margin of 15.5%.

SDZNY - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Sandoz Group AG reported a net income of 425.40M and revenue of 4.64B, resulting in a net margin of 9.2%.

Frequently Asked Questions

Can I hold both HLN and SDZNY in my portfolio?

HLN and SDZNY have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLN or SDZNY?

HLN has higher volatility (8.24%) compared to SDZNY (6.70%). In terms of maximum drawdown, HLN dropped -25.43% vs SDZNY's -25.34%.

Which has better risk-adjusted returns?

SDZNY currently has the higher Sharpe Ratio (2.32 vs -0.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.