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IBB vs. XLVI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBB vs. XLVI

Last updated Jun 4, 2026

IBB (iShares Nasdaq Biotechnology ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - IBB is a Health & Biotech Equities fund tracking the NASDAQ Biotechnology Index, while XLVI is a Derivative Income fund actively managed by State Street. IBB is passively managed, while XLVI is actively managed. A 0.70 correlation means they provide meaningful diversification when combined. IBB charges 0.47%/yr vs 0.35%/yr for XLVI.

Performance

IBB vs. XLVI - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with IBB having a -0.68% return and XLVI slightly higher at -0.67%.

IBB

1D
1.97%
1M
-1.56%
YTD
-0.68%
6M
-2.57%
1Y
34.50%
3Y*
9.40%
5Y*
2.10%
10Y*
6.23%

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)

IBB vs. XLVI - Yearly Performance Comparison

2026 (YTD)2025
IBB
iShares Nasdaq Biotechnology ETF		-0.68%26.44%
XLVI
State Street Health Care Select Sector SPDR Premium Income ETF		-0.67%12.79%

Correlation

The correlation between IBB and XLVI is 0.70, 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

0.70

IBB vs. XLVI - Sectors Allocation Comparison

Sectors
IBB
XLVI

Healthcare

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

100.6%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IBB
100.0%
XLVI

-

Basic Materials

IBB

-

XLVI

-

Communication Services

IBB

-

XLVI

-

Consumer Cyclical

IBB

-

XLVI

-

Consumer Defensive

IBB

-

XLVI

-

Energy

IBB

-

XLVI

-

Financial Services

IBB

-

XLVI
100.6%

Industrials

IBB

-

XLVI

-

Real Estate

IBB

-

XLVI

-

Technology

IBB

-

XLVI

-

Utilities

IBB

-

XLVI

-

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iShares Nasdaq Biotechnology ETF

State Street Health Care Select Sector SPDR Premium Income ETF

Often compared with IBB:
IBB vs. XBIIBB vs. ARKGIBB vs. XLVIBB vs. IBBQIBB vs. BBHIBB vs. SPYIBB vs. FBIOX
Often compared with XLVI:
XLVI vs. TMEDXLVI vs. XLVXLVI vs. BCDXLVI vs. VHTXLVI vs. FXHXLVI vs. IPDPXLVI vs. BUCK

Return for Risk

IBB vs. XLVI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBB
IBB Risk / Return Rank: 5656
Overall Rank
IBB Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IBB Sortino Ratio Rank: 5050
Sortino Ratio Rank
IBB Omega Ratio Rank: 4646
Omega Ratio Rank
IBB Calmar Ratio Rank: 7171
Calmar Ratio Rank
IBB Martin Ratio Rank: 6262
Martin Ratio Rank
XLVI
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.

IBB vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Biotechnology ETF (IBB) 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.

IBBXLVIDifference
Sharpe ratioReturn per unit of total volatility
1.74

—

—

Sortino ratioReturn per unit of downside risk
2.50

—

—

Omega ratioGain probability vs. loss probability

1.30

—

—

Calmar ratioReturn relative to maximum drawdown

3.60

—

—

Martin ratioReturn relative to average drawdown

11.43

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBB vs. XLVI - Sharpe Ratio Comparison

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Sharpe Ratios by Period

IBBXLVIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.74

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.10

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.27

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.26

1.33

-1.07

Drawdowns

IBB vs. XLVI - Drawdown Comparison

The maximum IBB drawdown since its inception was -62.85%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for IBB and XLVI.

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Drawdown Indicators

IBBXLVIDifference

Max Drawdown

Largest peak-to-trough decline

-62.85%

-8.14%

-54.71%

Max Drawdown (1Y)

Largest decline over 1 year

-9.63%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-24.85%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-39.82%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.82%

—

—

Current Drawdown

Current decline from peak

-5.64%

-4.02%

-1.62%

Average Drawdown

Average peak-to-trough decline

-21.18%

-1.95%

-19.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.03%

—

—

Volatility

IBB vs. XLVI - Volatility Comparison

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Volatility by Period

IBBXLVIDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.86%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

15.38%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

19.89%

10.94%

+8.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.99%

10.94%

+11.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.22%

10.94%

+12.28%

IBB vs. XLVI - Expense Ratio Comparison

IBB has a 0.47% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

IBB vs. XLVI - Dividend Comparison

IBB's dividend yield for the trailing twelve months is around 0.23%, less than XLVI's 11.53% yield.

PositionTTM20252024202320222021202020192018201720162015
IBB
iShares Nasdaq Biotechnology ETF		0.23%0.23%0.29%0.26%0.31%0.21%0.21%0.33%0.20%0.30%0.19%0.03%
XLVI
State Street Health Care Select Sector SPDR Premium Income ETF		11.53%5.73%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

IBB and XLVI have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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.

XLVI is cheaper with a 0.35% expense ratio, compared with 0.47% for IBB.

XLVI has the higher dividend yield at 11.53%, compared with 0.23% for IBB.

IBB is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: iShares and State Street. Their fees differ too: 0.47% for IBB and 0.35% for XLVI.

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