MEDI vs. XLVI

Last updated Aug 2, 2026

MEDI (Harbor Health Care ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - MEDI is a Health & Biotech Equities fund actively managed by Harbor, while XLVI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, MEDI returned 21.60% vs 23.20% for XLVI. Their 0.76 correlation means they have sometimes moved together and sometimes differently. MEDI charges 0.80%/yr vs 0.35%/yr for XLVI.

Performance

MEDI vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor Health Care ETF (MEDI) 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, MEDI achieves a 2.78% return, which is significantly lower than XLVI's 7.10% return.

MEDI

• 1D: -1.40%
• 1M: -7.14%
• 6M: 3.32%
• YTD: 2.78%
• 1Y: 21.60%
• 3Y*: 14.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.10%

XLVI

• 1D: -0.18%
• 1M: 1.17%
• 6M: 6.83%
• YTD: 7.10%
• 1Y: 23.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.35%

*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)
MEDI Harbor Health Care ETF	$122.30K	$134.20K	$281.73K
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	$951.77K	$684.72K	$477.94K

MEDI vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
MEDI Harbor Health Care ETF	2.78%	17.39%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	7.10%	12.41%

Correlation

The correlation between MEDI and XLVI is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.76

The correlation between MEDI and XLVI has been stable across timeframes, ranging from 0.76 to 0.76 - a consistent structural relationship.

MEDI vs. XLVI - Sectors Allocation Comparison

Sectors	MEDI	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

MEDI vs. XLVI — Risk / Return Rank

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

MEDI

MEDI Risk / Return Rank: 42
MEDI Sharpe Ratio Rank: 43
MEDI Sortino Ratio Rank: 46
MEDI Omega Ratio Rank: 40
MEDI Calmar Ratio Rank: 40
MEDI Martin Ratio Rank: 39

XLVI

XLVI Risk / Return Rank: 84
XLVI Sharpe Ratio Rank: 90
XLVI Sortino Ratio Rank: 92
XLVI Omega Ratio Rank: 90
XLVI Calmar Ratio Rank: 81
XLVI Martin Ratio Rank: 68

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.

MEDI vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor Health Care ETF (MEDI) 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.

	MEDI	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.08	2.25	-1.16
Sortino ratio: Return per unit of downside risk	1.67	3.37	-1.69
Omega ratio: Gain probability vs. loss probability	1.19	1.42	-0.24
Calmar ratio: Return relative to maximum drawdown	1.43	2.96	-1.53
Martin ratio: Return relative to average drawdown	4.09	8.37	-4.29

MEDI vs. XLVI - Sharpe Ratio Comparison

The current MEDI Sharpe Ratio is 1.08, which is lower than the XLVI Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of MEDI 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

MEDI vs. XLVI - Drawdown Comparison

The maximum MEDI drawdown since its inception was -19.24%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for MEDI and XLVI.

Drawdown Indicators

	MEDI	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-19.24%	-8.14%	-11.10%
Max Drawdown (1Y) Largest decline over 1 year	-15.34%	-8.14%	-7.20%
Max Drawdown (3Y) Largest decline over 3 years	-19.24%	—	—
Current Drawdown Current decline from peak	-7.33%	-1.46%	-5.87%
Average Drawdown Average peak-to-trough decline	-4.26%	-1.78%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.35%	2.87%	+2.48%

Volatility

MEDI vs. XLVI - Volatility Comparison

Harbor Health Care ETF (MEDI) has a higher volatility of 5.10% compared to State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) at 3.38%. This indicates that MEDI'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

	MEDI	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	3.38%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	15.53%	8.73%	+6.80%
Volatility (1Y) Calculated over the trailing 1-year period	20.25%	11.07%	+9.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.70%	11.05%	+7.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	11.05%	+7.65%

MEDI vs. XLVI - Expense Ratio Comparison

MEDI has a 0.80% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

MEDI vs. XLVI - Dividend Comparison

MEDI's dividend yield for the trailing twelve months is around 0.27%, less than XLVI's 11.80% yield.

Position	TTM	2025	2024	2023
MEDI Harbor Health Care ETF	0.27%	0.28%	0.54%	1.86%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.80%	5.73%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MEDI and XLVI in my portfolio?

MEDI and XLVI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEDI or XLVI?

MEDI has higher volatility (5.10%) compared to XLVI (3.38%). In terms of maximum drawdown, MEDI dropped -19.24% vs XLVI's -8.14%.

Which ETF is better, MEDI or XLVI?

On 1-year performance, XLVI leads with 23.20% vs 21.60% for MEDI. On fees, XLVI is cheaper at 0.35% per year. On volatility, XLVI has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEDI or XLVI?

Over the 1-year period, XLVI has performed better with a 23.20% return vs 21.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEDI or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.80% for MEDI.

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

XLVI has the higher dividend yield at 11.80%, compared with 0.27% for MEDI.

What is the main difference between MEDI and XLVI?

MEDI is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: Harbor and State Street. Their fees differ too: 0.80% for MEDI and 0.35% for XLVI.

Which has better risk-adjusted returns?

XLVI currently has the higher Sharpe Ratio (2.25 vs 1.08), 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.