^NDXE vs. XBI
^NDXE (NASDAQ 100 Equal Weighted Index) is an index, while XBI (SPDR S&P Biotech ETF) is Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry Index. Over the past 10 years, ^NDXE returned 13.95%/yr vs 9.00%/yr for XBI. Their 0.67 correlation means they have sometimes moved together and sometimes differently.
Performance
^NDXE vs. XBI - Performance Comparison
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Returns By Period
In the year-to-date period, ^NDXE achieves a 14.46% return, which is significantly lower than XBI's 20.69% return. Over the past 10 years, ^NDXE has outperformed XBI with an annualized return of 13.95%, while XBI has yielded a comparatively lower 9.00% annualized return.
^NDXE
- 1D
- 0.27%
- 1M
- -2.57%
- 6M
- 12.73%
- YTD
- 14.46%
- 1Y
- 20.89%
- 3Y*
- 13.42%
- 5Y*
- 7.39%
- 10Y*
- 13.95%
- ALL TIME*
- 11.20%
XBI
- 1D
- -2.94%
- 1M
- -8.38%
- 6M
- 17.96%
- YTD
- 20.69%
- 1Y
- 71.86%
- 3Y*
- 21.10%
- 5Y*
- 3.69%
- 10Y*
- 9.00%
- ALL TIME*
- 11.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $1.17B | $1.34B | $1.30B |
^NDXE vs. XBI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^NDXE NASDAQ 100 Equal Weighted Index | 14.46% | 13.87% | 6.26% | 32.61% | -25.05% | 17.50% | 36.88% | 35.17% | -5.62% | 25.48% |
XBI SPDR S&P Biotech ETF | 20.69% | 35.89% | 1.01% | 7.60% | -25.87% | -20.45% | 48.33% | 32.56% | -15.28% | 43.77% |
Correlation
The correlation between ^NDXE and XBI is 0.44, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.44 |
Correlation (3Y) Balances recent behavior with more history. | 0.54 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.63 |
Correlation (All Time) Calculated using the full available price history since May 2, 2006 | 0.67 |
Over the past year, the correlation between ^NDXE and XBI has dropped to 0.44 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
^NDXE vs. XBI — Risk / Return Rank
^NDXE
XBI
^NDXE vs. XBI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Equal Weighted Index (^NDXE) and SPDR S&P Biotech ETF (XBI). 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.
| ^NDXE | XBI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.42 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.01 | 6.92 | -4.92 |
| Martin ratioReturn relative to average drawdown | 6.38 | 19.52 | -13.14 |
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Drawdowns
^NDXE vs. XBI - Drawdown Comparison
The maximum ^NDXE drawdown since its inception was -58.20%, smaller than the maximum XBI drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for ^NDXE and XBI.
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Drawdown Indicators
| ^NDXE | XBI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.20% | -63.89% | +5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -9.57% | -10.51% | +0.94% |
Max Drawdown (3Y)Largest decline over 3 years | -21.54% | -32.99% | +11.45% |
Max Drawdown (5Y)Largest decline over 5 years | -32.54% | -54.00% | +21.46% |
Max Drawdown (10Y)Largest decline over 10 years | -32.54% | -63.89% | +31.35% |
Current DrawdownCurrent decline from peak | -4.43% | -14.95% | +10.52% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -20.87% | +12.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 3.72% | -0.72% |
Volatility
^NDXE vs. XBI - Volatility Comparison
The current volatility for NASDAQ 100 Equal Weighted Index (^NDXE) is 3.75%, while SPDR S&P Biotech ETF (XBI) has a volatility of 8.27%. This indicates that ^NDXE experiences smaller price fluctuations and is considered to be less risky than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^NDXE | XBI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 8.27% | -4.52% |
Volatility (6M)Calculated over the trailing 6-month period | 13.17% | 21.50% | -8.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.29% | 26.97% | -10.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.78% | 32.32% | -11.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.90% | 31.93% | -11.03% |
Frequently Asked Questions
^NDXE and XBI have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XBI has higher volatility (8.27%) compared to ^NDXE (3.75%). In terms of maximum drawdown, ^NDXE dropped -58.20% vs XBI's -63.89%.
XBI currently has the higher Sharpe Ratio (2.70 vs 1.19), 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.
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