PBE vs. XLVI

Last updated Jun 4, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - PBE is a Health & Biotech Equities fund tracking the Dynamic Biotech & Genome Intellidex Index (AMEX), while XLVI is a Derivative Income fund actively managed by State Street. PBE is passively managed, while XLVI is actively managed. A 0.71 correlation means they provide meaningful diversification when combined. PBE charges 0.59%/yr vs 0.35%/yr for XLVI.

Performance

PBE vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) 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, PBE achieves a 0.58% return, which is significantly higher than XLVI's -0.67% return.

PBE

• 1D: 2.04%
• 1M: 2.68%
• YTD: 0.58%
• 6M: 1.15%
• 1Y: 30.26%
• 3Y*: 10.44%
• 5Y*: 3.06%
• 10Y*: 7.55%

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)

PBE vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
PBE Invesco Dynamic Biotechnology & Genome ETF	0.58%	25.81%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between PBE and XLVI is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.71

PBE vs. XLVI - Sectors Allocation Comparison

Sectors	PBE	XLVI
Healthcare	100.0%	-
Financial Services	0.0%	100.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PBE vs. XLVI — Risk / Return Rank

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

PBE

PBE Risk / Return Rank: 47
PBE Sharpe Ratio Rank: 46
PBE Sortino Ratio Rank: 49
PBE Omega Ratio Rank: 44
PBE Calmar Ratio Rank: 52
PBE Martin Ratio Rank: 44

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.

PBE vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) 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.

	PBE	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.63	—	—
Sortino ratio: Return per unit of downside risk	2.44	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.59	—	—
Martin ratio: Return relative to average drawdown	7.27	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PBE	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.63	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.30	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	1.33	-1.00

Drawdowns

PBE vs. XLVI - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for PBE and XLVI.

Drawdown Indicators

	PBE	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-45.69%	-8.14%	-37.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	—	—
Current Drawdown Current decline from peak	-3.62%	-4.02%	+0.40%
Average Drawdown Average peak-to-trough decline	-16.24%	-1.95%	-14.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.17%	—	—

Volatility

Volatility by Period

	PBE	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.71%	10.94%	+7.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.54%	10.94%	+11.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.92%	10.94%	+13.98%

PBE vs. XLVI - Expense Ratio Comparison

PBE has a 0.59% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

PBE vs. XLVI - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.05%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PBE Invesco Dynamic Biotechnology & Genome ETF	1.05%	1.00%	0.05%	0.02%	0.00%	0.00%	0.04%	0.00%	0.00%	0.57%	0.38%	1.12%
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

Can I hold both PBE and XLVI in my portfolio?

PBE and XLVI have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBE or XLVI?

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.

Which ETF is cheaper, PBE or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.59% for PBE.

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

XLVI has the higher dividend yield at 11.53%, compared with 1.05% for PBE.

What is the main difference between PBE and XLVI?

PBE is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.59% for PBE and 0.35% for XLVI.