BBP vs. XHS

Last updated Jul 17, 2026

BBP (Virtus LifeSci Biotech Products ETF) and XHS (SPDR S&P Health Care Services ETF) are both Health & Biotech Equities funds - BBP tracks the LifeSci Biotechnology Products Index while XHS tracks the S&P Health Care Services Select Industry Index. Both are passively managed. Over the past 10 years, BBP returned 12.96%/yr vs 9.10%/yr for XHS. A 0.60 correlation means they provide meaningful diversification when combined. BBP charges 0.79%/yr vs 0.35%/yr for XHS.

Performance

BBP vs. XHS - 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 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, BBP achieves a 21.28% return, which is significantly lower than XHS's 26.76% return. Over the past 10 years, BBP has outperformed XHS with an annualized return of 12.96%, while XHS has yielded a comparatively lower 9.10% annualized return.

BBP

• 1D: -1.30%
• 1M: 10.69%
• 6M: 20.79%
• YTD: 21.28%
• 1Y: 55.80%
• 3Y*: 21.53%
• 5Y*: 13.75%
• 10Y*: 12.96%

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)

BBP vs. XHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BBP Virtus LifeSci Biotech Products ETF	21.28%	33.15%	3.32%	17.88%	0.85%	-8.17%	22.24%	24.73%	-13.95%	24.07%
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 BBP and XHS is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.60
Correlation (All Time) Calculated using the full available price history since Dec 17, 2014	0.60

Over the past year, the correlation between BBP and XHS has dropped to 0.39 - well below their long-term average of 0.60, suggesting their price drivers have been diverging.

BBP vs. XHS - Sectors Allocation Comparison

Sectors	BBP	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

BBP vs. XHS — Risk / Return Rank

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

BBP

BBP Risk / Return Rank: 89
BBP Sharpe Ratio Rank: 89
BBP Sortino Ratio Rank: 87
BBP Omega Ratio Rank: 81
BBP Calmar Ratio Rank: 95
BBP Martin Ratio Rank: 93

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.

BBP vs. XHS - 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 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.

	BBP	XHS	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.56	-0.22
Sortino ratio: Return per unit of downside risk	3.20	3.42	-0.22
Omega ratio: Gain probability vs. loss probability	1.38	1.45	-0.07
Calmar ratio: Return relative to maximum drawdown	6.04	3.82	+2.22
Martin ratio: Return relative to average drawdown	18.30	13.16	+5.14

BBP vs. XHS - Sharpe Ratio Comparison

The current BBP Sharpe Ratio is 2.33, which is comparable to the XHS Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of BBP 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

BBP vs. XHS - Drawdown Comparison

The maximum BBP drawdown since its inception was -44.32%, which is greater than XHS's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for BBP and XHS.

Drawdown Indicators

	BBP	XHS	Difference
Max Drawdown Largest peak-to-trough decline	-44.32%	-39.32%	-5.00%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-11.99%	+2.71%
Max Drawdown (3Y) Largest decline over 3 years	-26.09%	-17.81%	-8.28%
Max Drawdown (5Y) Largest decline over 5 years	-37.77%	-31.34%	-6.43%
Max Drawdown (10Y) Largest decline over 10 years	-44.32%	-39.32%	-5.00%
Current Drawdown Current decline from peak	-6.46%	-1.72%	-4.74%
Average Drawdown Average peak-to-trough decline	-11.92%	-10.12%	-1.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	3.48%	-0.42%

Volatility

BBP vs. XHS - Volatility Comparison

Virtus LifeSci Biotech Products ETF (BBP) has a higher volatility of 7.67% compared to SPDR S&P Health Care Services ETF (XHS) at 5.41%. This indicates that BBP'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

	BBP	XHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.67%	5.41%	+2.26%
Volatility (6M) Calculated over the trailing 6-month period	19.26%	12.81%	+6.45%
Volatility (1Y) Calculated over the trailing 1-year period	24.09%	17.91%	+6.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.45%	21.22%	+5.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.36%	22.40%	+4.96%

BBP vs. XHS - Expense Ratio Comparison

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

Dividends

BBP vs. XHS - Dividend Comparison

BBP has not paid dividends to shareholders, while XHS's dividend yield for the trailing twelve months is around 0.20%.

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%
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 BBP and XHS in my portfolio?

BBP and XHS have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBP or XHS?

BBP has higher volatility (7.67%) compared to XHS (5.41%). In terms of maximum drawdown, BBP dropped -44.32% vs XHS's -39.32%.

Which ETF is better, BBP or XHS?

On 10-year performance, BBP leads with 12.96% vs 9.10% for XHS. On fees, XHS is cheaper at 0.35% per year. 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, BBP or XHS?

Over the 10-year period, BBP has performed better with a 12.96% return vs 9.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBP or XHS?

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

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

XHS has the higher dividend yield at 0.20%, compared with 0.00% for BBP.

What is the main difference between BBP and XHS?

BBP tracks LifeSci Biotechnology Products Index, while XHS tracks S&P Health Care Services 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 XHS.

Which has better risk-adjusted returns?

XHS currently has the higher Sharpe Ratio (2.56 vs 2.33), 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.