BBP vs. XBI

Last updated Jun 5, 2026

BBP (Virtus LifeSci Biotech Products ETF) and XBI (SPDR S&P Biotech ETF) are both Health & Biotech Equities funds - BBP tracks the LifeSci Biotechnology Products Index while XBI tracks the S&P Biotechnology Select Industry Index. Both are passively managed. Over the past 10 years, BBP returned 11.72%/yr vs 8.53%/yr for XBI. Their correlation of 0.92 suggests significant overlap in exposure. BBP charges 0.79%/yr vs 0.35%/yr for XBI.

Performance

BBP vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus LifeSci Biotech Products ETF (BBP) 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, BBP achieves a 8.38% return, which is significantly lower than XBI's 9.42% return. Over the past 10 years, BBP has outperformed XBI with an annualized return of 11.72%, while XBI has yielded a comparatively lower 8.53% annualized return.

BBP

• 1D: 2.44%
• 1M: -0.92%
• YTD: 8.38%
• 6M: 9.14%
• 1Y: 48.00%
• 3Y*: 17.11%
• 5Y*: 10.90%
• 10Y*: 11.72%

XBI

• 1D: 2.77%
• 1M: -0.28%
• YTD: 9.42%
• 6M: 8.61%
• 1Y: 62.35%
• 3Y*: 15.65%
• 5Y*: 1.14%
• 10Y*: 8.53%

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

BBP vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBP Virtus LifeSci Biotech Products ETF	8.38%	33.15%	3.32%	17.88%	0.85%	-8.17%	22.24%	24.73%	-13.95%	24.07%
XBI SPDR S&P Biotech ETF	9.42%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%

Correlation

The correlation between BBP 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	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 18, 2014	0.92

The correlation between BBP and XBI has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

BBP vs. XBI - Sectors Allocation Comparison

Sectors	BBP	XBI
Healthcare	100.0%	99.8%
Basic Materials	-	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.2%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

BBP vs. XBI — Risk / Return Rank

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

BBP

BBP Risk / Return Rank: 70
BBP Sharpe Ratio Rank: 61
BBP Sortino Ratio Rank: 62
BBP Omega Ratio Rank: 55
BBP Calmar Ratio Rank: 89
BBP Martin Ratio Rank: 82

XBI

XBI Risk / Return Rank: 80
XBI Sharpe Ratio Rank: 77
XBI Sortino Ratio Rank: 75
XBI Omega Ratio Rank: 67
XBI Calmar Ratio Rank: 93
XBI Martin Ratio Rank: 89

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.

BBP vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus LifeSci Biotech Products ETF (BBP) 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.

	BBP	XBI	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.45	-0.42
Sortino ratio: Return per unit of downside risk	2.87	3.32	-0.45
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.06
Calmar ratio: Return relative to maximum drawdown	5.20	6.45	-1.25
Martin ratio: Return relative to average drawdown	16.27	19.53	-3.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBP vs. XBI - Sharpe Ratio Comparison

The current BBP Sharpe Ratio is 2.02, which is comparable to the XBI Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of BBP 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.

Sharpe Ratios by Period

	BBP	XBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	2.45	-0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.04	+0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	0.27	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.36	+0.04

Drawdowns

BBP vs. XBI - Drawdown Comparison

The maximum BBP drawdown since its inception was -44.32%, smaller than the maximum XBI drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for BBP and XBI.

Drawdown Indicators

	BBP	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-44.32%	-63.89%	+19.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-9.72%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-26.09%	-32.99%	+6.90%
Max Drawdown (5Y) Largest decline over 5 years	-38.28%	-54.71%	+16.43%
Max Drawdown (10Y) Largest decline over 10 years	-44.32%	-63.89%	+19.57%
Current Drawdown Current decline from peak	-4.18%	-22.89%	+18.71%
Average Drawdown Average peak-to-trough decline	-12.02%	-20.93%	+8.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.20%	-0.24%

Volatility

BBP vs. XBI - Volatility Comparison

The current volatility for Virtus LifeSci Biotech Products ETF (BBP) is 8.03%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.69%. This indicates that BBP 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.

Volatility by Period

	BBP	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.03%	9.69%	-1.66%
Volatility (6M) Calculated over the trailing 6-month period	18.52%	20.31%	-1.79%
Volatility (1Y) Calculated over the trailing 1-year period	23.84%	25.60%	-1.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.37%	32.20%	-5.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.41%	32.00%	-4.59%

BBP vs. XBI - Expense Ratio Comparison

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

Dividends

BBP vs. XBI - Dividend Comparison

BBP has not paid dividends to shareholders, while XBI's dividend yield for the trailing twelve months is around 0.33%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBP Virtus LifeSci Biotech Products ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.18%	0.00%	1.29%
XBI SPDR S&P Biotech ETF	0.33%	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 BBP and XBI in my portfolio?

With a correlation of 0.92, BBP 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, BBP or XBI?

XBI has higher volatility (9.69%) compared to BBP (8.03%). In terms of maximum drawdown, BBP dropped -44.32% vs XBI's -63.89%.

Which ETF is better, BBP or XBI?

On 10-year performance, BBP leads with 11.72% vs 8.53% for XBI. On fees, XBI is cheaper at 0.35% per year. On volatility, BBP has been the lower-risk option at 8.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBP or XBI?

Over the 10-year period, BBP has performed better with a 11.72% return vs 8.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBP or XBI?

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

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

XBI has the higher dividend yield at 0.33%, compared with 0.00% for BBP.

What is the main difference between BBP and XBI?

BBP tracks LifeSci Biotechnology Products 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 BBP and 0.35% for XBI.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (2.45 vs 2.02), 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.