PATH vs. XLV

Last updated Aug 1, 2026

PATH (UiPath Inc.) is a stock, while XLV (State Street Health Care Select Sector SPDR ETF) is Health & Biotech Equities fund tracking the Health Care Select Sector Index. Over the past 5 years, PATH returned -27.24%/yr vs 5.93%/yr for XLV. Their 0.27 correlation means their historical movements had little consistent relationship.

Performance

PATH vs. XLV - Performance Comparison

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

Returns By Period

In the year-to-date period, PATH achieves a -22.15% return, which is significantly lower than XLV's 5.90% return.

PATH

• 1D: 3.15%
• 1M: 8.97%
• 6M: 1.35%
• YTD: -22.15%
• 1Y: 14.85%
• 3Y*: -10.49%
• 5Y*: -27.24%
• 10Y*: —
• ALL TIME*: -26.66%

XLV

• 1D: -0.59%
• 1M: -0.73%
• 6M: 5.94%
• YTD: 5.90%
• 1Y: 26.13%
• 3Y*: 8.60%
• 5Y*: 5.93%
• 10Y*: 9.81%
• ALL TIME*: 8.63%

*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)
PATH UiPath Inc.	$985.01M	$993.57M	$668.61M
XLV State Street Health Care Select Sector SPDR ETF	$1.43B	$1.62B	$1.62B

PATH vs. XLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PATH UiPath Inc.	-22.15%	28.95%	-48.83%	95.44%	-70.53%	-34.15%
XLV State Street Health Care Select Sector SPDR ETF	5.90%	14.50%	2.47%	2.07%	-2.08%	16.81%

Correlation

The correlation between PATH and XLV is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.06
Correlation (3Y) Balances recent behavior with more history.	0.23
Correlation (5Y) Shows whether the relationship held over a longer period.	0.28
Correlation (All Time) Calculated using the full available price history since Apr 21, 2021	0.27

Over the past year, the correlation between PATH and XLV has dropped to 0.06 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

Return for Risk

PATH vs. XLV — Risk / Return Rank

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

PATH

PATH Risk / Return Rank: 50
PATH Sharpe Ratio Rank: 50
PATH Sortino Ratio Rank: 52
PATH Omega Ratio Rank: 50
PATH Calmar Ratio Rank: 49
PATH Martin Ratio Rank: 49

XLV

XLV Risk / Return Rank: 72
XLV Sharpe Ratio Rank: 76
XLV Sortino Ratio Rank: 83
XLV Omega Ratio Rank: 72
XLV Calmar Ratio Rank: 74
XLV Martin Ratio Rank: 53

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.

PATH vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UiPath Inc. (PATH) 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.

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.

	PATH	XLV	Difference
Sharpe ratio: Return per unit of total volatility	0.13	1.72	-1.59
Sortino ratio: Return per unit of downside risk	0.71	2.70	-1.99
Omega ratio: Gain probability vs. loss probability	1.08	1.30	-0.22
Calmar ratio: Return relative to maximum drawdown	0.17	2.57	-2.40
Martin ratio: Return relative to average drawdown	0.27	6.15	-5.88

PATH vs. XLV - Sharpe Ratio Comparison

The current PATH Sharpe Ratio is 0.13, which is lower than the XLV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PATH and XLV, 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

PATH vs. XLV - Drawdown Comparison

The maximum PATH drawdown since its inception was -88.98%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for PATH and XLV.

Drawdown Indicators

	PATH	XLV	Difference
Max Drawdown Largest peak-to-trough decline	-88.98%	-39.17%	-49.81%
Max Drawdown (1Y) Largest decline over 1 year	-51.37%	-10.47%	-40.90%
Max Drawdown (3Y) Largest decline over 3 years	-65.10%	-17.11%	-47.99%
Max Drawdown (5Y) Largest decline over 5 years	-85.56%	-17.11%	-68.45%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.40%	—
Current Drawdown Current decline from peak	-85.01%	-2.82%	-82.19%
Average Drawdown Average peak-to-trough decline	-74.06%	-7.09%	-66.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	31.83%	4.37%	+27.46%

Volatility

PATH vs. XLV - Volatility Comparison

UiPath Inc. (PATH) has a higher volatility of 18.18% compared to State Street Health Care Select Sector SPDR ETF (XLV) at 6.03%. This indicates that PATH'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

	PATH	XLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.18%	6.03%	+12.15%
Volatility (6M) Calculated over the trailing 6-month period	42.10%	12.07%	+30.03%
Volatility (1Y) Calculated over the trailing 1-year period	66.14%	15.90%	+50.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	63.82%	15.04%	+48.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	64.02%	16.66%	+47.36%

Dividends

PATH vs. XLV - Dividend Comparison

PATH has not paid dividends to shareholders, while XLV's dividend yield for the trailing twelve months is around 1.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PATH UiPath 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	1.56%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%

Frequently Asked Questions

Can I hold both PATH and XLV in my portfolio?

PATH and XLV have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PATH or XLV?

PATH has higher volatility (18.18%) compared to XLV (6.03%). In terms of maximum drawdown, PATH dropped -88.98% vs XLV's -39.17%.

Which has better risk-adjusted returns?

XLV currently has the higher Sharpe Ratio (1.72 vs 0.13), 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.