ARWR vs. XBI

Last updated Apr 2, 2026

Compare and contrast key facts about Arrowhead Pharmaceuticals, Inc. (ARWR) and SPDR S&P Biotech ETF (XBI).

XBI is a passively managed fund by State Street that tracks the performance of the S&P Biotechnology Select Industry Index. It was launched on Feb 6, 2006.

Performance

ARWR vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arrowhead Pharmaceuticals, Inc. (ARWR) and SPDR S&P Biotech ETF (XBI). The values are adjusted to include any dividend payments, if applicable.

ARWR vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARWR Arrowhead Pharmaceuticals, Inc.	-5.23%	253.14%	-38.56%	-24.56%	-38.82%	-13.59%	20.97%	410.71%	237.50%	137.42%
XBI SPDR S&P Biotech ETF	5.43%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%

Returns By Period

In the year-to-date period, ARWR achieves a -5.23% return, which is significantly lower than XBI's 5.43% return. Over the past 10 years, ARWR has outperformed XBI with an annualized return of 29.08%, while XBI has yielded a comparatively lower 9.39% annualized return.

ARWR

• 1D: 0.35%
• 1M: -2.19%
• YTD: -5.23%
• 6M: 79.72%
• 1Y: 415.53%
• 3Y*: 35.31%
• 5Y*: -1.27%
• 10Y*: 29.08%

XBI

• 1D: 0.64%
• 1M: 1.58%
• YTD: 5.43%
• 6M: 27.21%
• 1Y: 65.07%
• 3Y*: 19.25%
• 5Y*: -1.16%
• 10Y*: 9.39%

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

Return for Risk

ARWR vs. XBI — Risk / Return Rank

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

ARWR

ARWR Risk / Return Rank: 99
ARWR Sharpe Ratio Rank: 99
ARWR Sortino Ratio Rank: 98
ARWR Omega Ratio Rank: 97
ARWR Calmar Ratio Rank: 99
ARWR Martin Ratio Rank: 99

XBI

XBI Risk / Return Rank: 93
XBI Sharpe Ratio Rank: 93
XBI Sortino Ratio Rank: 94
XBI Omega Ratio Rank: 89
XBI Calmar Ratio Rank: 96
XBI Martin Ratio Rank: 95

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.

ARWR vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arrowhead Pharmaceuticals, Inc. (ARWR) 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.

	ARWR	XBI	Difference
Sharpe ratio Return per unit of total volatility	5.94	2.28	+3.66
Sortino ratio Return per unit of downside risk	4.77	2.99	+1.78
Omega ratio Gain probability vs. loss probability	1.63	1.38	+0.25
Calmar ratio Return relative to maximum drawdown	15.98	4.41	+11.57
Martin ratio Return relative to average drawdown	43.68	16.21	+27.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARWR vs. XBI - Sharpe Ratio Comparison

The current ARWR Sharpe Ratio is 5.94, which is higher than the XBI Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of ARWR and XBI, 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

	ARWR	XBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.94	2.28	+3.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	-0.04	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.29	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	-0.01	0.36	-0.37

Correlation

The correlation between ARWR and XBI is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ARWR vs. XBI - Dividend Comparison

ARWR has not paid dividends to shareholders, while XBI's dividend yield for the trailing twelve months is around 0.34%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARWR Arrowhead Pharmaceuticals, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XBI SPDR S&P Biotech ETF	0.34%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Drawdowns

ARWR vs. XBI - Drawdown Comparison

The maximum ARWR drawdown since its inception was -99.24%, which is greater than XBI's maximum drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for ARWR and XBI.

Drawdown Indicators

	ARWR	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-99.24%	-63.89%	-35.35%
Max Drawdown (1Y) Largest decline over 1 year	-24.64%	-13.39%	-11.25%
Max Drawdown (5Y) Largest decline over 5 years	-88.94%	-55.04%	-33.90%
Max Drawdown (10Y) Largest decline over 10 years	-88.96%	-63.89%	-25.07%
Current Drawdown Current decline from peak	-61.28%	-25.70%	-35.58%
Average Drawdown Average peak-to-trough decline	-81.39%	-20.91%	-60.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.02%	3.65%	+5.37%

Volatility

ARWR vs. XBI - Volatility Comparison

Arrowhead Pharmaceuticals, Inc. (ARWR) has a higher volatility of 16.64% compared to SPDR S&P Biotech ETF (XBI) at 11.31%. This indicates that ARWR's price experiences larger fluctuations and is considered to be riskier than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARWR	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.64%	11.31%	+5.33%
Volatility (6M) Calculated over the trailing 6-month period	46.03%	19.25%	+26.78%
Volatility (1Y) Calculated over the trailing 1-year period	70.66%	28.95%	+41.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	64.68%	32.23%	+32.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	74.11%	32.15%	+41.96%