SHE vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR SSGA Gender Diversity Index ETF (SHE) and S&P 500 Index (^GSPC).

SHE is a passively managed fund by State Street that tracks the performance of the SSGA Gender Diversity (TR). It was launched on Mar 7, 2016.

Performance

SHE vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR SSGA Gender Diversity Index ETF (SHE) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

SHE vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHE SPDR SSGA Gender Diversity Index ETF	-2.10%	15.50%	23.35%	22.37%	-21.73%	15.17%	17.93%	23.63%	-3.48%	19.56%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, SHE achieves a -2.10% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, SHE has underperformed ^GSPC with an annualized return of 10.75%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

SHE

• 1D: 0.91%
• 1M: -4.01%
• YTD: -2.10%
• 6M: 1.72%
• 1Y: 14.48%
• 3Y*: 17.35%
• 5Y*: 7.45%
• 10Y*: 10.75%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

SHE vs. ^GSPC — Risk / Return Rank

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

SHE

SHE Risk / Return Rank: 47
SHE Sharpe Ratio Rank: 43
SHE Sortino Ratio Rank: 44
SHE Omega Ratio Rank: 45
SHE Calmar Ratio Rank: 47
SHE Martin Ratio Rank: 53

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC 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.

SHE vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) 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.

	SHE	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.85	0.92	-0.07
Sortino ratio Return per unit of downside risk	1.30	1.41	-0.12
Omega ratio Gain probability vs. loss probability	1.18	1.21	-0.03
Calmar ratio Return relative to maximum drawdown	1.29	1.41	-0.13
Martin ratio Return relative to average drawdown	5.54	6.61	-1.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHE vs. ^GSPC - Sharpe Ratio Comparison

The current SHE Sharpe Ratio is 0.85, which is comparable to the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of SHE and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SHE	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	0.92	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.61	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.68	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.46	+0.17

Correlation

The correlation between SHE and ^GSPC is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

SHE vs. ^GSPC - Drawdown Comparison

The maximum SHE drawdown since its inception was -35.80%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for SHE and ^GSPC.

Drawdown Indicators

	SHE	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-56.78%	+20.98%
Max Drawdown (1Y) Largest decline over 1 year	-11.22%	-12.14%	+0.92%
Max Drawdown (5Y) Largest decline over 5 years	-31.69%	-25.43%	-6.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.80%	-33.92%	-1.88%
Current Drawdown Current decline from peak	-5.53%	-5.78%	+0.25%
Average Drawdown Average peak-to-trough decline	-6.40%	-10.75%	+4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.60%	+0.01%

Volatility

SHE vs. ^GSPC - Volatility Comparison

The current volatility for SPDR SSGA Gender Diversity Index ETF (SHE) is 4.94%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that SHE experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHE	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	5.37%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	9.78%	9.55%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	17.13%	18.33%	-1.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	16.90%	+0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.96%	18.05%	-0.09%