HQH vs. XLV
HQH (Tekla Healthcare Investors) is a stock, while XLV (State Street Health Care Select Sector SPDR ETF) is Health & Biotech Equities fund tracking the Health Care Select Sector Index. Over the past 10 years, HQH returned 8.39%/yr vs 9.92%/yr for XLV. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
HQH vs. XLV - Performance Comparison
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Returns By Period
In the year-to-date period, HQH achieves a 18.67% return, which is significantly higher than XLV's 5.16% return. Over the past 10 years, HQH has underperformed XLV with an annualized return of 8.39%, while XLV has yielded a comparatively higher 9.92% annualized return.
HQH
- 1D
- -2.18%
- 1M
- 9.15%
- 6M
- 17.25%
- YTD
- 18.67%
- 1Y
- 51.54%
- 3Y*
- 20.93%
- 5Y*
- 7.61%
- 10Y*
- 8.39%
XLV
- 1D
- 0.35%
- 1M
- 5.40%
- 6M
- 3.44%
- YTD
- 5.16%
- 1Y
- 21.48%
- 3Y*
- 8.82%
- 5Y*
- 6.34%
- 10Y*
- 9.92%
HQH vs. XLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HQH Tekla Healthcare Investors | 18.67% | 34.12% | 10.22% | 1.22% | -17.27% | 7.99% | 24.82% | 26.80% | -13.08% | 15.97% |
XLV State Street Health Care Select Sector SPDR ETF | 5.16% | 14.50% | 2.47% | 2.07% | -2.08% | 26.04% | 13.30% | 20.45% | 6.28% | 21.77% |
Correlation
The correlation between HQH and XLV is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1998 | 0.59 |
The correlation between HQH and XLV shifts across timeframes, from 0.52 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
HQH vs. XLV — Risk / Return Rank
HQH
XLV
HQH vs. XLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tekla Healthcare Investors (HQH) and State Street Health Care Select Sector SPDR ETF (XLV). 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.
| HQH | XLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.13 | ||
| Sortino ratioReturn per unit of downside risk | +1.05 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.24 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 2.06 | +1.92 |
| Martin ratioReturn relative to average drawdown | 13.88 | 4.88 | +9.00 |
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Drawdowns
HQH vs. XLV - Drawdown Comparison
The maximum HQH drawdown since its inception was -62.36%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for HQH and XLV.
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Drawdown Indicators
| HQH | XLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.36% | -39.17% | -23.19% |
Max Drawdown (1Y)Largest decline over 1 year | -13.01% | -10.47% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -21.14% | -17.11% | -4.03% |
Max Drawdown (5Y)Largest decline over 5 years | -37.55% | -17.11% | -20.44% |
Max Drawdown (10Y)Largest decline over 10 years | -37.55% | -28.40% | -9.15% |
Current DrawdownCurrent decline from peak | -4.39% | -1.84% | -2.55% |
Average DrawdownAverage peak-to-trough decline | -21.00% | -7.11% | -13.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 4.41% | -0.69% |
Volatility
HQH vs. XLV - Volatility Comparison
Tekla Healthcare Investors (HQH) and State Street Health Care Select Sector SPDR ETF (XLV) have volatilities of 5.85% and 5.76%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HQH | XLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.85% | 5.76% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 15.13% | 11.53% | +3.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.71% | 15.75% | +4.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.73% | 14.93% | +4.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.40% | 16.61% | +4.79% |
Dividends
HQH vs. XLV - Dividend Comparison
HQH's dividend yield for the trailing twelve months is around 10.98%, more than XLV's 1.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HQH Tekla Healthcare Investors | 10.98% | 11.56% | 14.21% | 9.66% | 9.50% | 8.59% | 7.97% | 8.24% | 10.75% | 8.78% | 9.80% | 11.97% |
XLV State Street Health Care Select Sector SPDR ETF | 1.57% | 1.60% | 1.67% | 1.59% | 1.47% | 1.33% | 1.49% | 2.17% | 1.57% | 1.47% | 1.60% | 1.43% |
Frequently Asked Questions
HQH and XLV have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HQH has higher volatility (5.85%) compared to XLV (5.76%). In terms of maximum drawdown, HQH dropped -62.36% vs XLV's -39.17%.
HQH currently has the higher Sharpe Ratio (2.51 vs 1.37), 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.
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