IBBQ vs. XLVI

Last updated Jun 4, 2026

IBBQ (Invesco Nasdaq Biotechnology ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - IBBQ is a Health & Biotech Equities fund tracking the NASDAQ / Biotechnology, while XLVI is a Derivative Income fund actively managed by State Street. IBBQ is passively managed, while XLVI is actively managed. A 0.69 correlation means they provide meaningful diversification when combined. IBBQ charges 0.00%/yr vs 0.35%/yr for XLVI.

Performance

IBBQ vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotechnology ETF (IBBQ) 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, IBBQ achieves a 1.91% return, which is significantly higher than XLVI's -0.67% return.

IBBQ

• 1D: 1.77%
• 1M: -1.63%
• YTD: 1.91%
• 6M: 0.94%
• 1Y: 39.72%
• 3Y*: 12.60%
• 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)

IBBQ vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
IBBQ Invesco Nasdaq Biotechnology ETF	1.91%	27.41%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between IBBQ and XLVI is 0.69, 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	0.69

IBBQ vs. XLVI - Sectors Allocation Comparison

Sectors	IBBQ	XLVI
Healthcare	98.3%	-
Financial Services	0.0%	100.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IBBQ vs. XLVI — Risk / Return Rank

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

IBBQ

IBBQ Risk / Return Rank: 67
IBBQ Sharpe Ratio Rank: 59
IBBQ Sortino Ratio Rank: 60
IBBQ Omega Ratio Rank: 54
IBBQ Calmar Ratio Rank: 85
IBBQ Martin Ratio Rank: 79

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.

IBBQ vs. XLVI - Risk-Adjusted Trends Comparison

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

	IBBQ	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	2.03	—	—
Sortino ratio: Return per unit of downside risk	2.86	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	4.79	—	—
Martin ratio: Return relative to average drawdown	15.68	—	—
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

	IBBQ	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	1.33	-1.17

Drawdowns

IBBQ vs. XLVI - Drawdown Comparison

The maximum IBBQ drawdown since its inception was -37.94%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for IBBQ and XLVI.

Drawdown Indicators

	IBBQ	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-37.94%	-8.14%	-29.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	—	—
Current Drawdown Current decline from peak	-5.17%	-4.02%	-1.15%
Average Drawdown Average peak-to-trough decline	-16.82%	-1.95%	-14.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	—	—

Volatility

Volatility by Period

	IBBQ	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.63%	10.94%	+8.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.86%	10.94%	+10.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	10.94%	+10.92%

IBBQ vs. XLVI - Expense Ratio Comparison

IBBQ has a 0.00% expense ratio, which is lower than XLVI's 0.35% expense ratio.

Dividends

IBBQ vs. XLVI - Dividend Comparison

IBBQ's dividend yield for the trailing twelve months is around 0.87%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023	2022	2021
IBBQ Invesco Nasdaq Biotechnology ETF	0.87%	0.90%	1.14%	0.81%	0.76%	0.63%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.53%	5.73%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IBBQ and XLVI in my portfolio?

IBBQ and XLVI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBBQ or XLVI?

On fees, IBBQ is cheaper at 0.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IBBQ or XLVI?

IBBQ is cheaper with a 0.00% expense ratio, compared with 0.35% for XLVI.

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

XLVI has the higher dividend yield at 11.53%, compared with 0.87% for IBBQ.

What is the main difference between IBBQ and XLVI?

IBBQ is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.00% for IBBQ and 0.35% for XLVI.