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IHE vs. XLVI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHE vs. XLVI

Last updated Jun 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. Their correlation of 0.84 suggests significant overlap in exposure. IHE charges 0.42%/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.

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Returns By Period

In the year-to-date period, IHE achieves a 6.47% return, which is significantly higher than XLVI's -0.67% return.

IHE

1D
1.16%
1M
1.80%
YTD
6.47%
6M
8.51%
1Y
40.15%
3Y*
17.47%
5Y*
9.98%
10Y*
7.81%

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)

IHE vs. XLVI - Yearly Performance Comparison

2026 (YTD)2025
IHE
iShares U.S. Pharmaceuticals ETF		6.47%27.50%
XLVI
State Street Health Care Select Sector SPDR Premium Income ETF		-0.67%12.79%

Correlation

The correlation between IHE and XLVI is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.84

IHE vs. XLVI - Sectors Allocation Comparison

Sectors
IHE
XLVI

Healthcare

100.0%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

100.6%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IHE
100.0%
XLVI

-

Basic Materials

IHE

-

XLVI

-

Communication Services

IHE

-

XLVI

-

Consumer Cyclical

IHE

-

XLVI

-

Consumer Defensive

IHE

-

XLVI

-

Energy

IHE

-

XLVI

-

Financial Services

IHE

-

XLVI
100.6%

Industrials

IHE

-

XLVI

-

Real Estate

IHE

-

XLVI

-

Technology

IHE

-

XLVI

-

Utilities

IHE

-

XLVI

-

Compare stocks, funds, or ETFs

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iShares U.S. Pharmaceuticals ETF

State Street Health Care Select Sector SPDR Premium Income ETF

Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP
Often compared with XLVI:
XLVI vs. TMEDXLVI vs. XLVXLVI vs. VHTXLVI vs. BCDXLVI vs. FXHXLVI vs. IPDPXLVI vs. BUCK

Return for Risk

IHE vs. XLVI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHE
IHE Risk / Return Rank: 7474
Overall Rank
IHE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IHE Sortino Ratio Rank: 7575
Sortino Ratio Rank
IHE Omega Ratio Rank: 6565
Omega Ratio Rank
IHE Calmar Ratio Rank: 8585
Calmar Ratio Rank
IHE Martin Ratio Rank: 7575
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.

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.

IHEXLVIDifference
Sharpe ratioReturn per unit of total volatility
2.36

—

—

Sortino ratioReturn per unit of downside risk
3.43

—

—

Omega ratioGain probability vs. loss probability

1.40

—

—

Calmar ratioReturn relative to maximum drawdown

4.76

—

—

Martin ratioReturn relative to average drawdown

14.35

—

—

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

IHE vs. XLVI - Sharpe Ratio Comparison

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Sharpe Ratios by Period

IHEXLVIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.43

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

1.33

-0.82

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.

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Drawdown Indicators

IHEXLVIDifference

Max Drawdown

Largest peak-to-trough decline

-38.20%

-8.14%

-30.06%

Max Drawdown (1Y)

Largest decline over 1 year

-8.47%

—

—

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

-2.80%

-4.02%

+1.22%

Average Drawdown

Average peak-to-trough decline

-7.92%

-1.95%

-5.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.81%

—

—

Volatility

IHE vs. XLVI - Volatility Comparison

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Volatility by Period

IHEXLVIDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.53%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.07%

10.94%

+6.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.24%

10.94%

+5.30%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.05%

10.94%

+7.11%

IHE vs. XLVI - Expense Ratio Comparison

IHE has a 0.42% 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 1.65%, less than XLVI's 11.53% yield.

PositionTTM20252024202320222021202020192018201720162015
IHE
iShares U.S. Pharmaceuticals ETF		1.65%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		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

IHE and XLVI have a correlation of 0.84, 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 0.42% for IHE.

XLVI has the higher dividend yield at 11.53%, compared with 1.65% for IHE.

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: 0.42% for IHE and 0.35% for XLVI.

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