BBC vs. XBI

Last updated Jun 23, 2026

BBC (Virtus LifeSci Biotech Clinical Trials ETF) and XBI (SPDR S&P Biotech ETF) are both Health & Biotech Equities funds - BBC tracks the LifeSci Biotechnology Clinical Trials Index while XBI tracks the S&P Biotechnology Select Industry Index. Both are passively managed. Over the past 10 years, BBC returned 10.98%/yr vs 11.06%/yr for XBI. Their correlation of 0.94 suggests significant overlap in exposure. BBC charges 0.79%/yr vs 0.35%/yr for XBI.

Performance

BBC vs. XBI - Performance Comparison

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

Returns By Period

In the year-to-date period, BBC achieves a 23.79% return, which is significantly higher than XBI's 19.74% return. Both investments have delivered pretty close results over the past 10 years, with BBC having a 10.98% annualized return and XBI not far ahead at 11.06%.

BBC

• 1D: 4.97%
• 1M: 11.76%
• YTD: 23.79%
• 6M: 18.79%
• 1Y: 151.23%
• 3Y*: 26.34%
• 5Y*: -0.15%
• 10Y*: 10.98%

XBI

• 1D: 3.75%
• 1M: 10.89%
• YTD: 19.74%
• 6M: 15.96%
• 1Y: 77.88%
• 3Y*: 19.92%
• 5Y*: 1.79%
• 10Y*: 11.06%

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

BBC vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBC Virtus LifeSci Biotech Clinical Trials ETF	23.79%	63.77%	-1.11%	-1.80%	-35.13%	-22.31%	30.32%	63.81%	-18.29%	57.85%
XBI SPDR S&P Biotech ETF	19.74%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%

Correlation

The correlation between BBC and XBI is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 17, 2014	0.94

The correlation between BBC and XBI has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

BBC vs. XBI - Sectors Allocation Comparison

Sectors	BBC	XBI
Healthcare	100.0%	99.7%
Basic Materials	-	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.3%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBC vs. XBI — Risk / Return Rank

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

BBC

BBC Risk / Return Rank: 94
BBC Sharpe Ratio Rank: 97
BBC Sortino Ratio Rank: 94
BBC Omega Ratio Rank: 90
BBC Calmar Ratio Rank: 97
BBC Martin Ratio Rank: 95

XBI

XBI Risk / Return Rank: 90
XBI Sharpe Ratio Rank: 91
XBI Sortino Ratio Rank: 88
XBI Omega Ratio Rank: 81
XBI Calmar Ratio Rank: 96
XBI Martin Ratio Rank: 93

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.

BBC vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus LifeSci Biotech Clinical Trials ETF (BBC) 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.

	BBC	XBI	Difference
Sharpe ratio: Return per unit of total volatility	4.20	2.96	+1.24
Sortino ratio: Return per unit of downside risk	4.59	3.83	+0.76
Omega ratio: Gain probability vs. loss probability	1.55	1.46	+0.09
Calmar ratio: Return relative to maximum drawdown	10.08	8.05	+2.02
Martin ratio: Return relative to average drawdown	29.53	23.79	+5.74

BBC vs. XBI - Sharpe Ratio Comparison

The current BBC Sharpe Ratio is 4.20, which is higher than the XBI Sharpe Ratio of 2.96. The chart below compares the historical Sharpe Ratios of BBC and XBI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BBC vs. XBI - Drawdown Comparison

The maximum BBC drawdown since its inception was -76.85%, which is greater than XBI's maximum drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for BBC and XBI.

Drawdown Indicators

	BBC	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-76.85%	-63.89%	-12.96%
Max Drawdown (1Y) Largest decline over 1 year	-15.10%	-9.72%	-5.38%
Max Drawdown (3Y) Largest decline over 3 years	-54.45%	-32.99%	-21.46%
Max Drawdown (5Y) Largest decline over 5 years	-71.97%	-54.71%	-17.26%
Max Drawdown (10Y) Largest decline over 10 years	-76.85%	-63.89%	-12.96%
Current Drawdown Current decline from peak	-20.54%	-15.61%	-4.93%
Average Drawdown Average peak-to-trough decline	-37.09%	-20.93%	-16.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	3.28%	+1.86%

Volatility

BBC vs. XBI - Volatility Comparison

Virtus LifeSci Biotech Clinical Trials ETF (BBC) has a higher volatility of 12.13% compared to SPDR S&P Biotech ETF (XBI) at 9.97%. This indicates that BBC'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

	BBC	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.13%	9.97%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	26.75%	21.32%	+5.43%
Volatility (1Y) Calculated over the trailing 1-year period	36.33%	26.52%	+9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.51%	32.30%	+7.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.79%	32.04%	+5.75%

BBC vs. XBI - Expense Ratio Comparison

BBC has a 0.79% expense ratio, which is higher than XBI's 0.35% expense ratio.

Dividends

BBC vs. XBI - Dividend Comparison

BBC's dividend yield for the trailing twelve months is around 1.37%, more than XBI's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBC Virtus LifeSci Biotech Clinical Trials ETF	1.37%	1.70%	1.00%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	2.09%	0.00%	0.51%
XBI SPDR S&P Biotech ETF	0.39%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Frequently Asked Questions

Can I hold both BBC and XBI in my portfolio?

With a correlation of 0.92, BBC and XBI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBC or XBI?

BBC has higher volatility (12.13%) compared to XBI (9.97%). In terms of maximum drawdown, BBC dropped -76.85% vs XBI's -63.89%.

Which ETF is better, BBC or XBI?

On 10-year performance, XBI leads with 11.06% vs 10.98% for BBC. On fees, XBI is cheaper at 0.35% per year. On volatility, XBI has been the lower-risk option at 9.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBC or XBI?

Over the 10-year period, XBI has performed better with a 11.06% return vs 10.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBC or XBI?

XBI is cheaper with a 0.35% expense ratio, compared with 0.79% for BBC.

Which ETF pays a higher dividend yield, BBC or XBI?

BBC has the higher dividend yield at 1.37%, compared with 0.40% for XBI.

What is the main difference between BBC and XBI?

BBC tracks LifeSci Biotechnology Clinical Trials Index, while XBI tracks S&P Biotechnology Select Industry Index. They also come from different issuers: Virtus Investment Partners and State Street. Their fees differ too: 0.79% for BBC and 0.35% for XBI.

Which has better risk-adjusted returns?

BBC currently has the higher Sharpe Ratio (4.20 vs 2.96), 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.