IHE vs. XLVI

Last updated Aug 4, 2026

IHE (iShares U.S. Pharmaceuticals ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - IHE is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Pharmaceuticals Index, while XLVI is a Derivative Income fund actively managed by State Street. IHE is passively managed, while XLVI is actively managed. Over the past year, IHE returned 53.32% vs 22.96% for XLVI. Their correlation of 0.83 means they have usually moved in the same direction. IHE charges 0.38%/yr vs 0.35%/yr for XLVI.

Performance

IHE vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Pharmaceuticals ETF (IHE) 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, IHE achieves a 19.36% return, which is significantly higher than XLVI's 6.89% return.

IHE

• 1D: -0.98%
• 1M: -0.34%
• 6M: 15.00%
• YTD: 19.36%
• 1Y: 53.32%
• 3Y*: 20.74%
• 5Y*: 11.16%
• 10Y*: 8.45%
• ALL TIME*: 10.88%

XLVI

• 1D: -0.20%
• 1M: 0.97%
• 6M: 6.00%
• YTD: 6.89%
• 1Y: 22.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IHE iShares U.S. Pharmaceuticals ETF	$35.28M	$36.00M	$20.48M
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	$940.40K	$699.80K	$484.44K

IHE vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
IHE iShares U.S. Pharmaceuticals ETF	19.36%	26.72%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	6.89%	12.41%

Correlation

The correlation between IHE and XLVI is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.83

The correlation between IHE and XLVI has been stable across timeframes, ranging from 0.83 to 0.83 - a consistent structural relationship.

IHE vs. XLVI - Sectors Allocation Comparison

Sectors	IHE	XLVI
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.6%
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IHE vs. XLVI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IHE

IHE Risk / Return Rank: 95
IHE Sharpe Ratio Rank: 96
IHE Sortino Ratio Rank: 96
IHE Omega Ratio Rank: 94
IHE Calmar Ratio Rank: 96
IHE Martin Ratio Rank: 94

XLVI

XLVI Risk / Return Rank: 80
XLVI Sharpe Ratio Rank: 85
XLVI Sortino Ratio Rank: 89
XLVI Omega Ratio Rank: 87
XLVI Calmar Ratio Rank: 75
XLVI Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IHE vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) 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.

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.

	IHE	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	3.01	2.15	+0.86
Sortino ratio: Return per unit of downside risk	4.38	3.23	+1.15
Omega ratio: Gain probability vs. loss probability	1.50	1.41	+0.10
Calmar ratio: Return relative to maximum drawdown	6.33	2.83	+3.49
Martin ratio: Return relative to average drawdown	19.45	8.00	+11.45

IHE vs. XLVI - Sharpe Ratio Comparison

The current IHE Sharpe Ratio is 3.01, which is higher than the XLVI Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of IHE and XLVI, 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

IHE vs. XLVI - Drawdown Comparison

The maximum IHE drawdown since its inception was -38.20%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for IHE and XLVI.

Drawdown Indicators

	IHE	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-38.20%	-8.14%	-30.06%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-8.14%	-0.33%
Max Drawdown (3Y) Largest decline over 3 years	-15.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.59%	—	—
Current Drawdown Current decline from peak	-3.21%	-1.66%	-1.55%
Average Drawdown Average peak-to-trough decline	-7.86%	-1.78%	-6.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	2.88%	-0.13%

Volatility

IHE vs. XLVI - Volatility Comparison

iShares U.S. Pharmaceuticals ETF (IHE) has a higher volatility of 5.84% compared to State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) at 3.36%. This indicates that IHE's price experiences larger fluctuations and is considered to be riskier than XLVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHE	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.84%	3.36%	+2.48%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	8.73%	+5.27%
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	10.75%	+7.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	11.04%	+5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	11.04%	+7.04%

IHE vs. XLVI - Expense Ratio Comparison

IHE has a 0.38% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

IHE vs. XLVI - Dividend Comparison

IHE's dividend yield for the trailing twelve months is around 1.46%, less than XLVI's 12.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHE iShares U.S. Pharmaceuticals ETF	1.46%	1.76%	1.73%	1.39%	2.01%	1.49%	1.19%	1.40%	1.25%	1.36%	0.92%	1.93%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	12.76%	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

Can I hold both IHE and XLVI in my portfolio?

IHE and XLVI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHE or XLVI?

IHE has higher volatility (5.84%) compared to XLVI (3.36%). In terms of maximum drawdown, IHE dropped -38.20% vs XLVI's -8.14%.

Which ETF is better, IHE or XLVI?

On 1-year performance, IHE leads with 53.32% vs 22.96% for XLVI. On fees, XLVI is cheaper at 0.35% per year. On volatility, XLVI has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHE or XLVI?

Over the 1-year period, IHE has performed better with a 53.32% return vs 22.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHE or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.38% for IHE.

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

XLVI has the higher dividend yield at 12.76%, compared with 1.46% for IHE.

What is the main difference between IHE and XLVI?

IHE 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: 0.38% for IHE and 0.35% for XLVI.

Which has better risk-adjusted returns?

IHE currently has the higher Sharpe Ratio (3.01 vs 2.15), 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.