BBH vs. XHS

Last updated Jul 17, 2026

BBH (VanEck Vectors Biotech ETF) and XHS (SPDR S&P Health Care Services ETF) are both Health & Biotech Equities funds - BBH tracks the MVIS US Listed Biotech 25 Index while XHS tracks the S&P Health Care Services Select Industry Index. Both are passively managed. Over the past 10 years, BBH returned 7.05%/yr vs 9.10%/yr for XHS. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

BBH vs. XHS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Biotech ETF (BBH) and SPDR S&P Health Care Services ETF (XHS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBH achieves a 8.98% return, which is significantly lower than XHS's 26.76% return. Over the past 10 years, BBH has underperformed XHS with an annualized return of 7.05%, while XHS has yielded a comparatively higher 9.10% annualized return.

BBH

• 1D: 1.11%
• 1M: 9.73%
• 6M: 8.26%
• YTD: 8.98%
• 1Y: 31.30%
• 3Y*: 9.54%
• 5Y*: 1.19%
• 10Y*: 7.05%

XHS

• 1D: 0.45%
• 1M: 10.64%
• 6M: 21.53%
• YTD: 26.76%
• 1Y: 45.58%
• 3Y*: 13.33%
• 5Y*: 4.53%
• 10Y*: 9.10%

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

BBH vs. XHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBH VanEck Vectors Biotech ETF	8.98%	21.18%	-4.29%	3.94%	-15.25%	11.81%	22.13%	26.34%	-10.70%	16.46%
XHS SPDR S&P Health Care Services ETF	26.76%	18.83%	1.76%	5.15%	-19.87%	9.76%	33.66%	18.81%	1.96%	17.65%

Correlation

The correlation between BBH and XHS is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 29, 2011	0.57

The correlation between BBH and XHS shifts across timeframes, from 0.41 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

BBH vs. XHS - Sectors Allocation Comparison

Sectors	BBH	XHS
Healthcare	100.0%	95.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	3.7%
Industrials	-	0.5%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBH vs. XHS — Risk / Return Rank

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

BBH

BBH Risk / Return Rank: 61
BBH Sharpe Ratio Rank: 60
BBH Sortino Ratio Rank: 63
BBH Omega Ratio Rank: 55
BBH Calmar Ratio Rank: 73
BBH Martin Ratio Rank: 53

XHS

XHS Risk / Return Rank: 88
XHS Sharpe Ratio Rank: 92
XHS Sortino Ratio Rank: 90
XHS Omega Ratio Rank: 89
XHS Calmar Ratio Rank: 86
XHS Martin Ratio Rank: 84

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.

BBH vs. XHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Biotech ETF (BBH) and SPDR S&P Health Care Services ETF (XHS). 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.

	BBH	XHS	Difference
Sharpe ratio: Return per unit of total volatility	1.60	2.56	-0.95
Sortino ratio: Return per unit of downside risk	2.35	3.42	-1.07
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	2.98	3.82	-0.84
Martin ratio: Return relative to average drawdown	7.14	13.16	-6.01

BBH vs. XHS - Sharpe Ratio Comparison

The current BBH Sharpe Ratio is 1.60, which is lower than the XHS Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of BBH and XHS, 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

BBH vs. XHS - Drawdown Comparison

The maximum BBH drawdown since its inception was -72.70%, which is greater than XHS's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for BBH and XHS.

Drawdown Indicators

	BBH	XHS	Difference
Max Drawdown Largest peak-to-trough decline	-72.70%	-39.32%	-33.38%
Max Drawdown (1Y) Largest decline over 1 year	-10.55%	-11.99%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	-22.74%	-17.81%	-4.93%
Max Drawdown (5Y) Largest decline over 5 years	-39.86%	-31.34%	-8.52%
Max Drawdown (10Y) Largest decline over 10 years	-39.86%	-39.32%	-0.54%
Current Drawdown Current decline from peak	-4.30%	-1.72%	-2.58%
Average Drawdown Average peak-to-trough decline	-20.70%	-10.12%	-10.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.39%	3.48%	+0.91%

Volatility

BBH vs. XHS - Volatility Comparison

VanEck Vectors Biotech ETF (BBH) has a higher volatility of 5.79% compared to SPDR S&P Health Care Services ETF (XHS) at 5.41%. This indicates that BBH's price experiences larger fluctuations and is considered to be riskier than XHS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBH	XHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	5.41%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	14.74%	12.81%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	19.64%	17.91%	+1.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.56%	21.22%	+0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.10%	22.40%	-0.30%

BBH vs. XHS - Expense Ratio Comparison

Both BBH and XHS have an expense ratio of 0.35%.

Dividends

BBH vs. XHS - Dividend Comparison

BBH's dividend yield for the trailing twelve months is around 0.46%, more than XHS's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBH VanEck Vectors Biotech ETF	0.46%	0.51%	0.80%	0.43%	0.47%	0.21%	0.36%	0.34%	0.50%	0.55%	0.30%	0.27%
XHS SPDR S&P Health Care Services ETF	0.20%	0.27%	0.38%	0.23%	0.19%	0.20%	0.23%	2.37%	0.34%	0.22%	0.28%	0.93%

Frequently Asked Questions

Can I hold both BBH and XHS in my portfolio?

BBH and XHS have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBH or XHS?

BBH has higher volatility (5.79%) compared to XHS (5.41%). In terms of maximum drawdown, BBH dropped -72.70% vs XHS's -39.32%.

Which ETF is better, BBH or XHS?

On 10-year performance, XHS leads with 9.10% vs 7.05% for BBH. Both ETFs have the same 0.35% expense ratio. On volatility, XHS has been the lower-risk option at 5.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBH or XHS?

Over the 10-year period, XHS has performed better with a 9.10% return vs 7.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBH or XHS?

BBH and XHS have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, BBH or XHS?

BBH has the higher dividend yield at 0.46%, compared with 0.20% for XHS.

What is the main difference between BBH and XHS?

BBH tracks MVIS US Listed Biotech 25 Index, while XHS tracks S&P Health Care Services Select Industry Index. They also come from different issuers: VanEck and State Street.

Which has better risk-adjusted returns?

XHS currently has the higher Sharpe Ratio (2.56 vs 1.60), 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.