- ISIN
- US78464A5810
- CUSIP
- 00078464A581
- Issuer
- State Street
- Inception Date
- Jan 26, 2011
- Region
- North America (U.S.)
- Category
- Health & Biotech Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P Health Care Equipment Select Industry Index
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Multi-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $138M
Share Price Chart
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Performance
XHE Performance Chart
SPDR S&P Health Care Equipment ETF (XHE) is down 8.9% since the beginning of the year. XHE is currently trading at $80 per share. Investors who bought $1,000 worth of XHE shares 5 years ago would now be looking at an investment worth $625.
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Returns By Period
SPDR S&P Health Care Equipment ETF (XHE) has returned -8.91% so far this year and 1.37% over the past 12 months. Over the last ten years, XHE has returned 6.02% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
SPDR S&P Health Care Equipment ETF
- 1D
- -2.39%
- 1M
- -0.92%
- YTD
- -8.91%
- 6M
- -10.99%
- 1Y
- 1.37%
- 3Y*
- -5.83%
- 5Y*
- -8.97%
- 10Y*
- 6.02%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
XHE Monthly Returns History
Based on dividend-adjusted daily data since Jan 27, 2011, XHE's average daily return is +0.04%, while the average monthly return is +0.84%. At this rate, an investment would double in approximately 6.9 years.
Historically, 65% of months were positive and 35% were negative. The best month was Apr 2020 with a return of +16.5%, while the worst month was Apr 2022 at -15.1%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, XHE closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +9.4%, while the worst single day was Mar 16, 2020 at -8.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.88% | 2.11% | -11.49% | 2.67% | -1.05% | 1.11% | -8.91% | ||||||
| 2025 | 6.86% | -6.37% | -7.17% | -3.82% | 2.69% | 0.06% | -6.17% | 7.78% | -4.07% | 1.31% | 11.44% | -0.75% | -0.23% |
| 2024 | -0.40% | 0.81% | 3.95% | -6.63% | 4.54% | -1.67% | 1.04% | 5.45% | 0.64% | -3.29% | 7.29% | -5.72% | 5.08% |
| 2023 | 6.46% | -2.95% | 0.79% | 4.48% | -4.81% | 5.69% | 0.03% | -11.93% | -9.94% | -12.80% | 10.21% | 12.34% | -6.23% |
| 2022 | -11.72% | 5.62% | 2.45% | -15.07% | -4.45% | -6.66% | 10.04% | -0.80% | -7.87% | 3.63% | 3.63% | -1.90% | -23.34% |
| 2021 | 4.13% | 1.57% | -0.65% | 5.19% | -3.78% | 6.73% | 0.43% | 0.92% | -4.47% | 0.58% | -10.30% | 3.92% | 3.04% |
Benchmark Metrics
SPDR S&P Health Care Equipment ETF has an annualized alpha of -1.22%, beta of 0.92, and R2 of 0.56 versus S&P 500 Index. Calculated based on daily prices since January 27, 2011.
- This ETF participated in 107.01% of S&P 500 Index downside but only 91.66% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.92 and R2 of 0.56, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -1.22%
- Beta
- 0.92
- R²
- 0.56
- Upside Capture
- 91.66%
- Downside Capture
- 107.01%
Expense Ratio
XHE has an expense ratio of 0.35%, placing it in the medium range.
Return for Risk
Risk / Return Rank
XHE ranks 9 for risk / return — in the bottom 9% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for SPDR S&P Health Care Equipment ETF (XHE) and compare them to S&P 500 Index.
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.
| XHE | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.97 | ||
| Sortino ratioReturn per unit of downside risk | -2.50 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.37 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.08 | 2.78 | -2.71 |
| Martin ratioReturn relative to average drawdown | 0.16 | 12.44 | -12.28 |
Dividends
Dividend History
SPDR S&P Health Care Equipment ETF provided a 0.09% dividend yield over the last twelve months, with an annual payout of $0.07 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.07 | $0.07 | $0.03 | $0.03 | $0.03 | $0.00 | $0.00 | $0.05 | $0.07 | $0.50 | $0.09 | $3.22 |
Dividend yield | 0.09% | 0.08% | 0.04% | 0.03% | 0.04% | 0.00% | 0.00% | 0.05% | 0.09% | 0.78% | 0.17% | 7.22% |
Monthly Dividends
The table displays the monthly dividend distributions for SPDR S&P Health Care Equipment ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.02 | $0.07 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.03 | $0.03 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.03 | $0.03 |
| 2022 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 | $0.00 | $0.01 | $0.03 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the SPDR S&P Health Care Equipment ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the SPDR S&P Health Care Equipment ETF was 49.92%, occurring on Oct 30, 2023. The portfolio has not yet recovered.
The current SPDR S&P Health Care Equipment ETF drawdown is 39.61%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 bear market2023 | -49.92%Oct 2023 | 2y 1mo | — | 4y 9moSep 2021 - now |
COVID crash2020 | -34.17%Mar 2020 | 1mo 2d | 3mo 11d | 4mo 13dFeb 2020 - Jul 2020 |
Rate-hike selloffLate 2018 | -27.37%Dec 2018 | 3mo 11d | 1y 29d | 1y 4moSep 2018 - Jan 2020 |
2011 bear market2011 | -22.05%Oct 2011 | 2mo 27d | 7mo 1d | 9mo 28dJul 2011 - May 2012 |
2016 bear market2016 | -20.07%Feb 2016 | 6mo 24d | 3mo 26d | 10mo 20dJul 2015 - Jun 2016 |
Drawdown Indicators
| XHE | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.92% | -56.78% | +6.86% |
Max Drawdown (1Y)Largest decline over 1 year | -18.29% | -9.10% | -9.19% |
Max Drawdown (3Y)Largest decline over 3 years | -32.62% | -18.90% | -13.72% |
Max Drawdown (5Y)Largest decline over 5 years | -49.92% | -25.43% | -24.49% |
Max Drawdown (10Y)Largest decline over 10 years | -49.92% | -33.92% | -16.00% |
Current DrawdownCurrent decline from peak | -39.61% | -1.80% | -37.81% |
Average DrawdownAverage peak-to-trough decline | -13.34% | -10.71% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.42% | 2.03% | +6.39% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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