IBRN vs. XBI

Last updated Jun 24, 2026

IBRN (iShares Neuroscience and Healthcare ETF) and XBI (SPDR S&P Biotech ETF) are both Health & Biotech Equities funds - IBRN tracks the NYSE FactSet Global Neuro Biopharma and MedTech Index while XBI tracks the S&P Biotechnology Select Industry Index. Both are passively managed. Over the past 3 years, IBRN returned 14.72%/yr vs 20.24%/yr for XBI. Their correlation of 0.88 suggests significant overlap in exposure. IBRN charges 0.47%/yr vs 0.35%/yr for XBI.

Performance

IBRN vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Neuroscience and Healthcare ETF (IBRN) and SPDR S&P Biotech ETF (XBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBRN achieves a 14.14% return, which is significantly lower than XBI's 20.70% return.

IBRN

• 1D: 0.60%
• 1M: 6.49%
• YTD: 14.14%
• 6M: 14.25%
• 1Y: 71.08%
• 3Y*: 14.72%
• 5Y*: —
• 10Y*: —

XBI

• 1D: 0.80%
• 1M: 11.78%
• YTD: 20.70%
• 6M: 17.84%
• 1Y: 79.53%
• 3Y*: 20.24%
• 5Y*: 1.51%
• 10Y*: 11.14%

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

IBRN vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBRN iShares Neuroscience and Healthcare ETF	14.14%	28.49%	-2.78%	0.92%	2.87%
XBI SPDR S&P Biotech ETF	20.70%	35.89%	1.01%	7.60%	-7.13%

Correlation

The correlation between IBRN and XBI is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 26, 2022	0.88

The correlation between IBRN and XBI has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

IBRN vs. XBI - Sectors Allocation Comparison

Sectors	IBRN	XBI
Healthcare	100.0%	99.7%
Basic Materials	-	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	0.3%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IBRN vs. XBI — Risk / Return Rank

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

IBRN

IBRN Risk / Return Rank: 89
IBRN Sharpe Ratio Rank: 90
IBRN Sortino Ratio Rank: 88
IBRN Omega Ratio Rank: 80
IBRN Calmar Ratio Rank: 96
IBRN Martin Ratio Rank: 93

XBI

XBI Risk / Return Rank: 90
XBI Sharpe Ratio Rank: 91
XBI Sortino Ratio Rank: 89
XBI Omega Ratio Rank: 82
XBI Calmar Ratio Rank: 96
XBI Martin Ratio Rank: 94

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.

IBRN vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Neuroscience and Healthcare ETF (IBRN) and SPDR S&P Biotech ETF (XBI). 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.

	IBRN	XBI	Difference
Sharpe ratio: Return per unit of total volatility	2.80	3.02	-0.22
Sortino ratio: Return per unit of downside risk	3.71	3.89	-0.18
Omega ratio: Gain probability vs. loss probability	1.43	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	8.12	8.22	-0.11
Martin ratio: Return relative to average drawdown	22.92	24.30	-1.38

IBRN vs. XBI - Sharpe Ratio Comparison

The current IBRN Sharpe Ratio is 2.80, which is comparable to the XBI Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of IBRN and XBI, 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

IBRN vs. XBI - Drawdown Comparison

The maximum IBRN drawdown since its inception was -35.38%, smaller than the maximum XBI drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for IBRN and XBI.

Drawdown Indicators

	IBRN	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-35.38%	-63.89%	+28.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.80%	-9.72%	+0.92%
Max Drawdown (3Y) Largest decline over 3 years	-35.38%	-32.99%	-2.39%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.89%	—
Current Drawdown Current decline from peak	0.00%	-14.94%	+14.94%
Average Drawdown Average peak-to-trough decline	-9.75%	-20.93%	+11.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	3.28%	-0.17%

Volatility

IBRN vs. XBI - Volatility Comparison

The current volatility for iShares Neuroscience and Healthcare ETF (IBRN) is 8.17%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.96%. This indicates that IBRN experiences smaller price fluctuations and is considered to be less risky than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBRN	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.17%	9.96%	-1.79%
Volatility (6M) Calculated over the trailing 6-month period	19.20%	21.31%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	25.50%	26.47%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.36%	32.30%	-6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.36%	32.01%	-6.65%

IBRN vs. XBI - Expense Ratio Comparison

IBRN has a 0.47% expense ratio, which is higher than XBI's 0.35% expense ratio.

Dividends

IBRN vs. XBI - Dividend Comparison

IBRN's dividend yield for the trailing twelve months is around 0.87%, more than XBI's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBRN iShares Neuroscience and Healthcare ETF	0.87%	0.99%	0.40%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XBI SPDR S&P Biotech ETF	0.39%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Frequently Asked Questions

Can I hold both IBRN and XBI in my portfolio?

With a correlation of 0.90, IBRN and XBI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IBRN or XBI?

XBI has higher volatility (9.96%) compared to IBRN (8.17%). In terms of maximum drawdown, IBRN dropped -35.38% vs XBI's -63.89%.

Which ETF is better, IBRN or XBI?

On 3-year performance, XBI leads with 20.24% vs 14.72% for IBRN. On fees, XBI is cheaper at 0.35% per year. On volatility, IBRN has been the lower-risk option at 8.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBRN or XBI?

Over the 3-year period, XBI has performed better with a 20.24% return vs 14.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBRN or XBI?

XBI is cheaper with a 0.35% expense ratio, compared with 0.47% for IBRN.

Which ETF pays a higher dividend yield, IBRN or XBI?

IBRN has the higher dividend yield at 0.87%, compared with 0.39% for XBI.

What is the main difference between IBRN and XBI?

IBRN tracks NYSE FactSet Global Neuro Biopharma and MedTech Index, while XBI tracks S&P Biotechnology Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.47% for IBRN and 0.35% for XBI.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (3.02 vs 2.80), 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.