IBRN vs. XLVI

Last updated Jun 4, 2026

IBRN (iShares Neuroscience and Healthcare ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - IBRN is a Health & Biotech Equities fund tracking the NYSE FactSet Global Neuro Biopharma and MedTech Index, while XLVI is a Derivative Income fund actively managed by State Street. IBRN is passively managed, while XLVI is actively managed. At a 0.46 correlation, their price movements are largely independent. IBRN charges 0.47%/yr vs 0.35%/yr for XLVI.

Performance

IBRN vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Neuroscience and Healthcare ETF (IBRN) 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, IBRN achieves a 6.25% return, which is significantly higher than XLVI's -0.67% return.

IBRN

• 1D: 1.56%
• 1M: -1.78%
• YTD: 6.25%
• 6M: 10.50%
• 1Y: 52.08%
• 3Y*: 11.68%
• 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)

IBRN vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
IBRN iShares Neuroscience and Healthcare ETF	6.25%	39.81%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between IBRN and XLVI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.46

IBRN vs. XLVI - Sectors Allocation Comparison

Sectors	IBRN	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

IBRN vs. XLVI — Risk / Return Rank

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

IBRN

IBRN Risk / Return Rank: 69
IBRN Sharpe Ratio Rank: 61
IBRN Sortino Ratio Rank: 63
IBRN Omega Ratio Rank: 54
IBRN Calmar Ratio Rank: 91
IBRN Martin Ratio Rank: 76

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. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Neuroscience and Healthcare ETF (IBRN) 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.

	IBRN	XLVI	Difference
Sharpe ratio Return per unit of total volatility	2.07	—	—
Sortino ratio Return per unit of downside risk	2.92	—	—
Omega ratio Gain probability vs. loss probability	1.33	—	—
Calmar ratio Return relative to maximum drawdown	5.95	—	—
Martin ratio Return relative to average drawdown	14.63	—	—
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

	IBRN	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	1.33	-0.94

Drawdowns

IBRN vs. XLVI - Drawdown Comparison

The maximum IBRN drawdown since its inception was -35.38%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for IBRN and XLVI.

Drawdown Indicators

	IBRN	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-35.38%	-8.14%	-27.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.38%	—	—
Current Drawdown Current decline from peak	-4.82%	-4.02%	-0.80%
Average Drawdown Average peak-to-trough decline	-9.83%	-1.95%	-7.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	—	—

Volatility

Volatility by Period

	IBRN	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.36%	10.94%	+14.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.32%	10.94%	+14.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.32%	10.94%	+14.38%

IBRN vs. XLVI - Expense Ratio Comparison

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

Dividends

IBRN vs. XLVI - Dividend Comparison

IBRN's dividend yield for the trailing twelve months is around 0.93%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023
IBRN iShares Neuroscience and Healthcare ETF	0.93%	0.99%	0.40%	0.06%
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 IBRN and XLVI in my portfolio?

IBRN and XLVI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IBRN 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, IBRN or XLVI?

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

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

XLVI has the higher dividend yield at 11.53%, compared with 0.93% for IBRN.

What is the main difference between IBRN and XLVI?

IBRN 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 IBRN and 0.35% for XLVI.