CANC vs. XLVI

Last updated Jun 4, 2026

CANC (Tema Oncology ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - CANC is a Health & Biotech Equities fund actively managed by Tema, while XLVI is a Derivative Income fund actively managed by State Street. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. CANC charges 0.75%/yr vs 0.35%/yr for XLVI.

Performance

CANC vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tema Oncology ETF (CANC) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CANC achieves a 4.82% return, which is significantly higher than XLVI's -0.67% return.

CANC

• 1D: 0.08%
• 1M: -3.73%
• YTD: 4.82%
• 6M: 3.86%
• 1Y: 47.37%
• 3Y*: 107.76%
• 5Y*: —
• 10Y*: —

XLVI

• 1D: 0.67%
• 1M: 2.30%
• YTD: -0.67%
• 6M: 0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CANC vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
CANC Tema Oncology ETF	4.82%	32.44%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between CANC and XLVI is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.60

CANC vs. XLVI - Sectors Allocation Comparison

Sectors	CANC	XLVI
Healthcare	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.6%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

CANC vs. XLVI — Risk / Return Rank

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

CANC

CANC Risk / Return Rank: 69
CANC Sharpe Ratio Rank: 61
CANC Sortino Ratio Rank: 64
CANC Omega Ratio Rank: 54
CANC Calmar Ratio Rank: 90
CANC Martin Ratio Rank: 77

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.

CANC vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tema Oncology ETF (CANC) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). 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.

	CANC	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	2.06	—	—
Sortino ratio: Return per unit of downside risk	2.96	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	5.49	—	—
Martin ratio: Return relative to average drawdown	14.62	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CANC	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	1.33	-1.36

Drawdowns

CANC vs. XLVI - Drawdown Comparison

The maximum CANC drawdown since its inception was -97.53%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for CANC and XLVI.

Drawdown Indicators

	CANC	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-97.53%	-8.14%	-89.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.67%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-30.27%	—	—
Current Drawdown Current decline from peak	-56.55%	-4.02%	-52.53%
Average Drawdown Average peak-to-trough decline	-73.19%	-1.95%	-71.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.25%	—	—

Volatility

Volatility by Period

	CANC	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	10.94%	+12.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	280.27%	10.94%	+269.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	280.27%	10.94%	+269.33%

CANC vs. XLVI - Expense Ratio Comparison

CANC has a 0.75% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

CANC vs. XLVI - Dividend Comparison

CANC's dividend yield for the trailing twelve months is around 0.05%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.53%	5.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CANC and XLVI in my portfolio?

CANC and XLVI have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CANC or XLVI?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CANC or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.75% for CANC.

Which ETF pays a higher dividend yield, CANC or XLVI?

XLVI has the higher dividend yield at 11.53%, compared with 0.05% for CANC.

What is the main difference between CANC and XLVI?

CANC is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: Tema and State Street. Their fees differ too: 0.75% for CANC and 0.35% for XLVI.