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^SPXHC vs. IVV
Performance
Return for Risk
Drawdowns
Volatility

^SPXHC vs. IVV

Last updated Jun 4, 2026

^SPXHC (S&P 500 Health Care Index) is an index, while IVV (iShares Core S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ^SPXHC returned 7.48%/yr vs 15.54%/yr for IVV. A 0.74 correlation means they provide meaningful diversification when combined.

Performance

^SPXHC vs. IVV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Health Care Index (^SPXHC) and iShares Core S&P 500 ETF (IVV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ^SPXHC achieves a -5.08% return, which is significantly lower than IVV's 10.85% return. Over the past 10 years, ^SPXHC has underperformed IVV with an annualized return of 7.48%, while IVV has yielded a comparatively higher 15.54% annualized return.

^SPXHC

1D
0.69%
1M
1.63%
YTD
-5.08%
6M
-4.98%
1Y
10.85%
3Y*
4.18%
5Y*
3.83%
10Y*
7.48%

IVV

1D
-0.76%
1M
4.97%
YTD
10.85%
6M
10.87%
1Y
28.00%
3Y*
22.43%
5Y*
13.88%
10Y*
15.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

^SPXHC vs. IVV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
^SPXHC
S&P 500 Health Care Index		-5.08%12.53%0.90%0.30%-3.55%24.16%11.43%18.68%4.69%20.00%
IVV
iShares Core S&P 500 ETF		10.85%17.85%24.93%26.31%-18.16%28.76%18.40%31.07%-4.49%21.75%

Correlation

The correlation between ^SPXHC and IVV is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.35

Correlation (3Y)
Calculated over the trailing 3-year period

0.47

Correlation (5Y)
Calculated over the trailing 5-year period

0.59

Correlation (10Y)
Calculated over the trailing 10-year period

0.66

Correlation (All Time)
Calculated using the full available price history since Dec 6, 2001

0.74

Over the past year, the correlation between ^SPXHC and IVV has dropped to 0.35 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

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S&P 500 Health Care Index

iShares Core S&P 500 ETF

Often compared with ^SPXHC:
^SPXHC vs. VHT^SPXHC vs. BDX^SPXHC vs. ^NBI^SPXHC vs. IUIT.L^SPXHC vs. ^GSPC^SPXHC vs. EW
Often compared with IVV:
IVV vs. VOOIVV vs. SPYIVV vs. FXAIXIVV vs. QQQIVV vs. VTIIVV vs. IOOIVV vs. CSPX.L

Return for Risk

^SPXHC vs. IVV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
^SPXHC
^SPXHC Risk / Return Rank: 3737
Overall Rank
^SPXHC Sharpe Ratio Rank: 3737
Sharpe Ratio Rank
^SPXHC Sortino Ratio Rank: 3838
Sortino Ratio Rank
^SPXHC Omega Ratio Rank: 3737
Omega Ratio Rank
^SPXHC Calmar Ratio Rank: 3636
Calmar Ratio Rank
^SPXHC Martin Ratio Rank: 3636
Martin Ratio Rank
IVV
IVV Risk / Return Rank: 7070
Overall Rank
IVV Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IVV Sortino Ratio Rank: 7070
Sortino Ratio Rank
IVV Omega Ratio Rank: 7070
Omega Ratio Rank
IVV Calmar Ratio Rank: 6262
Calmar Ratio Rank
IVV Martin Ratio Rank: 7575
Martin Ratio Rank
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.

^SPXHC vs. IVV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Health Care Index (^SPXHC) and iShares Core S&P 500 ETF (IVV). 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.

^SPXHCIVVDifference
Sharpe ratioReturn per unit of total volatility
0.75
2.39

-1.64

Sortino ratioReturn per unit of downside risk
1.21
3.25

-2.04

Omega ratioGain probability vs. loss probability

1.14

1.43

-0.30

Calmar ratioReturn relative to maximum drawdown

1.01

3.17

-2.15

Martin ratioReturn relative to average drawdown

2.44

14.71

-12.27

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^SPXHC vs. IVV - Sharpe Ratio Comparison

The current ^SPXHC Sharpe Ratio is 0.75, which is lower than the IVV Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ^SPXHC and IVV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

^SPXHCIVVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.75

2.39

-1.64

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.83

-0.57

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.86

-0.41

Sharpe Ratio (All Time)

Calculated using the full available price history

0.36

0.45

-0.09

Drawdowns

^SPXHC vs. IVV - Drawdown Comparison

The maximum ^SPXHC drawdown since its inception was -40.78%, smaller than the maximum IVV drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for ^SPXHC and IVV.

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Drawdown Indicators

^SPXHCIVVDifference

Max Drawdown

Largest peak-to-trough decline

-40.78%

-55.25%

+14.47%

Max Drawdown (1Y)

Largest decline over 1 year

-10.75%

-8.89%

-1.86%

Max Drawdown (3Y)

Largest decline over 3 years

-18.01%

-18.75%

+0.74%

Max Drawdown (5Y)

Largest decline over 5 years

-18.01%

-24.53%

+6.52%

Max Drawdown (10Y)

Largest decline over 10 years

-28.59%

-33.90%

+5.31%

Current Drawdown

Current decline from peak

-8.05%

-0.76%

-7.29%

Average Drawdown

Average peak-to-trough decline

-8.32%

-10.78%

+2.46%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.45%

1.91%

+2.54%

Volatility

^SPXHC vs. IVV - Volatility Comparison

S&P 500 Health Care Index (^SPXHC) has a higher volatility of 4.13% compared to iShares Core S&P 500 ETF (IVV) at 2.87%. This indicates that ^SPXHC's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

^SPXHCIVVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.13%

2.87%

+1.26%

Volatility (6M)

Calculated over the trailing 6-month period

10.18%

8.90%

+1.28%

Volatility (1Y)

Calculated over the trailing 1-year period

14.62%

11.80%

+2.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.69%

16.88%

-2.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.60%

18.05%

-1.45%

Frequently Asked Questions

^SPXHC and IVV have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

^SPXHC has higher volatility (4.13%) compared to IVV (2.87%). In terms of maximum drawdown, ^SPXHC dropped -40.78% vs IVV's -55.25%.

IVV currently has the higher Sharpe Ratio (2.39 vs 0.75), 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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