MEDX vs. XPH
Compare and contrast key facts about Horizon Kinetics Medical ETF (MEDX) and SPDR S&P Pharmaceuticals ETF (XPH).
MEDX and XPH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MEDX is an actively managed fund by Horizon. It was launched on Sep 30, 1999. XPH is a passively managed fund by State Street that tracks the performance of the S&P Pharmaceuticals Select Industry Index. It was launched on Jun 19, 2006.
Performance
MEDX vs. XPH - Performance Comparison
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MEDX vs. XPH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MEDX Horizon Kinetics Medical ETF | 1.52% | 28.62% | -4.68% | -6.22% |
XPH SPDR S&P Pharmaceuticals ETF | -2.19% | 31.60% | 4.94% | -3.16% |
Returns By Period
In the year-to-date period, MEDX achieves a 1.52% return, which is significantly higher than XPH's -2.19% return.
MEDX
- 1D
- 1.19%
- 1M
- -3.98%
- YTD
- 1.52%
- 6M
- 8.07%
- 1Y
- 27.44%
- 3Y*
- 6.83%
- 5Y*
- —
- 10Y*
- —
XPH
- 1D
- 1.16%
- 1M
- -4.82%
- YTD
- -2.19%
- 6M
- 13.09%
- 1Y
- 30.74%
- 3Y*
- 11.47%
- 5Y*
- 3.03%
- 10Y*
- 3.94%
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MEDX vs. XPH - Expense Ratio Comparison
MEDX has a 0.85% expense ratio, which is higher than XPH's 0.35% expense ratio.
Return for Risk
MEDX vs. XPH — Risk / Return Rank
MEDX
XPH
MEDX vs. XPH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Medical ETF (MEDX) and SPDR S&P Pharmaceuticals ETF (XPH). 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.
| MEDX | XPH | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.30 | 1.28 | +0.02 |
Sortino ratioReturn per unit of downside risk | 1.87 | 1.80 | +0.07 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.23 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.15 | 1.97 | +0.18 |
Martin ratioReturn relative to average drawdown | 6.85 | 6.54 | +0.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MEDX | XPH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.30 | 1.28 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.15 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.18 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.38 | -0.08 |
Correlation
The correlation between MEDX and XPH is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MEDX vs. XPH - Dividend Comparison
MEDX's dividend yield for the trailing twelve months is around 1.21%, more than XPH's 0.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEDX Horizon Kinetics Medical ETF | 1.21% | 1.23% | 1.92% | 4.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XPH SPDR S&P Pharmaceuticals ETF | 0.68% | 0.83% | 1.58% | 1.28% | 1.64% | 0.95% | 0.47% | 0.64% | 0.65% | 0.67% | 0.63% | 7.15% |
Drawdowns
MEDX vs. XPH - Drawdown Comparison
The maximum MEDX drawdown since its inception was -23.10%, smaller than the maximum XPH drawdown of -48.03%. Use the drawdown chart below to compare losses from any high point for MEDX and XPH.
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Drawdown Indicators
| MEDX | XPH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.10% | -48.03% | +24.93% |
Max Drawdown (1Y)Largest decline over 1 year | -10.86% | -13.15% | +2.29% |
Max Drawdown (5Y)Largest decline over 5 years | — | -31.63% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.97% | — |
Current DrawdownCurrent decline from peak | -4.91% | -6.21% | +1.30% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -17.37% | +10.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.96% | -0.56% |
Volatility
MEDX vs. XPH - Volatility Comparison
The current volatility for Horizon Kinetics Medical ETF (MEDX) is 6.14%, while SPDR S&P Pharmaceuticals ETF (XPH) has a volatility of 9.05%. This indicates that MEDX experiences smaller price fluctuations and is considered to be less risky than XPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MEDX | XPH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.14% | 9.05% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 13.42% | 16.40% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.48% | 24.50% | -3.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.92% | 20.57% | -3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.92% | 22.22% | -5.30% |