SBIO.L vs. ^GSPC

Last updated Jul 16, 2026

SBIO.L (Invesco Nasdaq Biotech UCITS ETF) is Health & Biotech Equities fund tracking the NASDAQ Biotechnology TR USD, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, SBIO.L returned 8.95%/yr vs 13.36%/yr for ^GSPC. At a 0.35 correlation, their price movements are largely independent.

Performance

SBIO.L vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotech UCITS ETF (SBIO.L) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIO.L achieves a 14.76% return, which is significantly higher than ^GSPC's 10.62% return. Over the past 10 years, SBIO.L has underperformed ^GSPC with an annualized return of 8.95%, while ^GSPC has yielded a comparatively higher 13.36% annualized return.

SBIO.L

• 1D: 0.44%
• 1M: 9.18%
• 6M: 12.82%
• YTD: 14.76%
• 1Y: 49.55%
• 3Y*: 17.44%
• 5Y*: 5.79%
• 10Y*: 8.95%

^GSPC

• 1D: 0.38%
• 1M: 0.24%
• 6M: 9.32%
• YTD: 10.62%
• 1Y: 21.28%
• 3Y*: 18.90%
• 5Y*: 11.84%
• 10Y*: 13.36%

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

SBIO.L vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBIO.L Invesco Nasdaq Biotech UCITS ETF	14.76%	32.89%	-2.00%	6.15%	-11.85%	-0.49%	27.35%	25.54%	-11.34%	21.45%
^GSPC S&P 500 Index	10.62%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Correlation

The correlation between SBIO.L and ^GSPC is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Nov 7, 2014	0.35

Return for Risk

SBIO.L vs. ^GSPC — Risk / Return Rank

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

SBIO.L

SBIO.L Risk / Return Rank: 90
SBIO.L Sharpe Ratio Rank: 90
SBIO.L Sortino Ratio Rank: 90
SBIO.L Omega Ratio Rank: 83
SBIO.L Calmar Ratio Rank: 95
SBIO.L Martin Ratio Rank: 93

^GSPC

^GSPC Risk / Return Rank: 81
^GSPC Sharpe Ratio Rank: 79
^GSPC Sortino Ratio Rank: 81
^GSPC Omega Ratio Rank: 84
^GSPC Calmar Ratio Rank: 74
^GSPC Martin Ratio Rank: 86

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.

SBIO.L vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotech UCITS ETF (SBIO.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.

	SBIO.L	^GSPC	Difference
Sharpe ratio: Return per unit of total volatility	2.43	1.70	+0.73
Sortino ratio: Return per unit of downside risk	3.38	2.34	+1.04
Omega ratio: Gain probability vs. loss probability	1.39	1.31	+0.08
Calmar ratio: Return relative to maximum drawdown	6.45	2.35	+4.10
Martin ratio: Return relative to average drawdown	19.17	10.19	+8.98

SBIO.L vs. ^GSPC - Sharpe Ratio Comparison

The current SBIO.L Sharpe Ratio is 2.43, which is higher than the ^GSPC Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of SBIO.L and ^GSPC, 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

SBIO.L vs. ^GSPC - Drawdown Comparison

The maximum SBIO.L drawdown since its inception was -39.44%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for SBIO.L and ^GSPC.

Drawdown Indicators

	SBIO.L	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-39.44%	-56.78%	+17.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.65%	-9.10%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-26.89%	-18.90%	-7.99%
Max Drawdown (5Y) Largest decline over 5 years	-38.33%	-25.43%	-12.90%
Max Drawdown (10Y) Largest decline over 10 years	-38.33%	-33.92%	-4.41%
Current Drawdown Current decline from peak	-4.15%	-0.49%	-3.66%
Average Drawdown Average peak-to-trough decline	-16.68%	-10.70%	-5.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	2.09%	+0.49%

Volatility

SBIO.L vs. ^GSPC - Volatility Comparison

Invesco Nasdaq Biotech UCITS ETF (SBIO.L) has a higher volatility of 6.42% compared to S&P 500 Index (^GSPC) at 3.60%. This indicates that SBIO.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.

Volatility by Period

	SBIO.L	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.42%	3.60%	+2.82%
Volatility (6M) Calculated over the trailing 6-month period	15.51%	9.99%	+5.52%
Volatility (1Y) Calculated over the trailing 1-year period	20.35%	12.55%	+7.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.26%	17.01%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.15%	18.05%	+4.10%

Frequently Asked Questions

Can I hold both SBIO.L and ^GSPC in my portfolio?

SBIO.L and ^GSPC have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.