SBIO.L vs. ^GSPC

Last updated Jun 26, 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 9.97%/yr vs 13.91%/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 12.10% return, which is significantly higher than ^GSPC's 7.48% return. Over the past 10 years, SBIO.L has underperformed ^GSPC with an annualized return of 9.97%, while ^GSPC has yielded a comparatively higher 13.91% annualized return.

SBIO.L

• 1D: 1.11%
• 1M: 8.11%
• YTD: 12.10%
• 6M: 10.11%
• 1Y: 51.92%
• 3Y*: 16.41%
• 5Y*: 5.01%
• 10Y*: 9.97%

^GSPC

• 1D: -0.01%
• 1M: -2.15%
• YTD: 7.48%
• 6M: 6.14%
• 1Y: 20.77%
• 3Y*: 19.34%
• 5Y*: 11.44%
• 10Y*: 13.91%

*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	12.10%	32.89%	-2.00%	6.15%	-11.85%	-0.49%	27.35%	25.54%	-11.34%	21.45%
^GSPC S&P 500 Index	7.48%	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 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
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: 89
SBIO.L Sharpe Ratio Rank: 89
SBIO.L Sortino Ratio Rank: 89
SBIO.L Omega Ratio Rank: 80
SBIO.L Calmar Ratio Rank: 95
SBIO.L Martin Ratio Rank: 93

^GSPC

^GSPC Risk / Return Rank: 70
^GSPC Sharpe Ratio Rank: 68
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 71
^GSPC Calmar Ratio Rank: 62
^GSPC Martin Ratio Rank: 78

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	2.58	1.67	+0.91
Sortino ratio: Return per unit of downside risk	3.57	2.29	+1.28
Omega ratio: Gain probability vs. loss probability	1.41	1.30	+0.11
Calmar ratio: Return relative to maximum drawdown	6.76	2.29	+4.46
Martin ratio: Return relative to average drawdown	20.42	10.09	+10.33

SBIO.L vs. ^GSPC - Sharpe Ratio Comparison

The current SBIO.L Sharpe Ratio is 2.58, which is higher than the ^GSPC Sharpe Ratio of 1.67. 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	0.00%	-3.32%	+3.32%
Average Drawdown Average peak-to-trough decline	-16.75%	-10.71%	-6.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	2.06%	+0.47%

Volatility

SBIO.L vs. ^GSPC - Volatility Comparison

Invesco Nasdaq Biotech UCITS ETF (SBIO.L) has a higher volatility of 6.76% compared to S&P 500 Index (^GSPC) at 4.82%. 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	6.76%	4.82%	+1.94%
Volatility (6M) Calculated over the trailing 6-month period	15.61%	9.88%	+5.73%
Volatility (1Y) Calculated over the trailing 1-year period	20.04%	12.50%	+7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.21%	17.00%	+4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.20%	18.07%	+4.13%

Frequently Asked Questions

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

SBIO.L and ^GSPC have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.