MRNA vs. XLV

Last updated Apr 2, 2026

Compare and contrast key facts about Moderna, Inc. (MRNA) and State Street Health Care Select Sector SPDR ETF (XLV).

XLV is a passively managed fund by State Street that tracks the performance of the Health Care Select Sector Index. It was launched on Dec 16, 1998.

Performance

MRNA vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Moderna, Inc. (MRNA) and State Street Health Care Select Sector SPDR ETF (XLV). The values are adjusted to include any dividend payments, if applicable.

MRNA vs. XLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MRNA Moderna, Inc.	69.65%	-29.08%	-58.19%	-44.63%	-29.28%	143.11%	434.10%	28.09%	-17.90%
XLV State Street Health Care Select Sector SPDR ETF	-4.18%	14.50%	2.47%	2.07%	-2.08%	26.04%	13.30%	20.45%	-4.04%

Returns By Period

In the year-to-date period, MRNA achieves a 69.65% return, which is significantly higher than XLV's -4.18% return.

MRNA

• 1D: -1.52%
• 1M: -5.33%
• YTD: 69.65%
• 6M: 81.27%
• 1Y: 84.20%
• 3Y*: -31.19%
• 5Y*: -17.71%
• 10Y*: —

XLV

• 1D: 0.76%
• 1M: -6.43%
• YTD: -4.18%
• 6M: 3.83%
• 1Y: 4.90%
• 3Y*: 6.25%
• 5Y*: 6.59%
• 10Y*: 9.80%

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

Return for Risk

MRNA vs. XLV — Risk / Return Rank

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

MRNA

MRNA Risk / Return Rank: 77
MRNA Sharpe Ratio Rank: 80
MRNA Sortino Ratio Rank: 78
MRNA Omega Ratio Rank: 73
MRNA Calmar Ratio Rank: 78
MRNA Martin Ratio Rank: 74

XLV

XLV Risk / Return Rank: 18
XLV Sharpe Ratio Rank: 19
XLV Sortino Ratio Rank: 18
XLV Omega Ratio Rank: 18
XLV Calmar Ratio Rank: 17
XLV Martin Ratio Rank: 16

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.

MRNA vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Moderna, Inc. (MRNA) and State Street Health Care Select Sector SPDR ETF (XLV). 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.

	MRNA	XLV	Difference
Sharpe ratio Return per unit of total volatility	1.28	0.28	+1.00
Sortino ratio Return per unit of downside risk	2.02	0.51	+1.52
Omega ratio Gain probability vs. loss probability	1.24	1.06	+0.17
Calmar ratio Return relative to maximum drawdown	2.15	0.28	+1.88
Martin ratio Return relative to average drawdown	4.44	0.58	+3.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MRNA vs. XLV - Sharpe Ratio Comparison

The current MRNA Sharpe Ratio is 1.28, which is higher than the XLV Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of MRNA and XLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MRNA	XLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	0.28	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	0.45	-0.72
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.20	0.46	-0.26

Correlation

The correlation between MRNA and XLV is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MRNA vs. XLV - Dividend Comparison

MRNA has not paid dividends to shareholders, while XLV's dividend yield for the trailing twelve months is around 1.70%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MRNA Moderna, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLV State Street Health Care Select Sector SPDR ETF	1.70%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%

Drawdowns

MRNA vs. XLV - Drawdown Comparison

The maximum MRNA drawdown since its inception was -95.38%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for MRNA and XLV.

Drawdown Indicators

	MRNA	XLV	Difference
Max Drawdown Largest peak-to-trough decline	-95.38%	-39.17%	-56.21%
Max Drawdown (1Y) Largest decline over 1 year	-35.51%	-10.76%	-24.75%
Max Drawdown (5Y) Largest decline over 5 years	-95.38%	-17.11%	-78.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.40%	—
Current Drawdown Current decline from peak	-89.67%	-7.41%	-82.26%
Average Drawdown Average peak-to-trough decline	-55.87%	-7.12%	-48.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.21%	5.11%	+12.10%

Volatility

MRNA vs. XLV - Volatility Comparison

Moderna, Inc. (MRNA) has a higher volatility of 22.27% compared to State Street Health Care Select Sector SPDR ETF (XLV) at 4.79%. This indicates that MRNA's price experiences larger fluctuations and is considered to be riskier than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MRNA	XLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.27%	4.79%	+17.48%
Volatility (6M) Calculated over the trailing 6-month period	50.95%	10.29%	+40.66%
Volatility (1Y) Calculated over the trailing 1-year period	66.40%	17.73%	+48.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.59%	14.56%	+52.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.29%	16.53%	+55.76%