PHR vs. XME

Last updated Aug 1, 2026

PHR (Phreesia, Inc.) is a stock, while XME (SPDR S&P Metals & Mining ETF) is Materials fund tracking the S&P Metals & Mining Select Industry Index. Over the past 5 years, PHR returned -30.95%/yr vs 18.53%/yr for XME. Their 0.28 correlation means their historical movements had little consistent relationship.

Performance

PHR vs. XME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Phreesia, Inc. (PHR) and SPDR S&P Metals & Mining ETF (XME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PHR achieves a -36.58% return, which is significantly lower than XME's -2.73% return.

PHR

• 1D: 1.13%
• 1M: -1.92%
• 6M: -20.10%
• YTD: -36.58%
• 1Y: -59.26%
• 3Y*: -30.45%
• 5Y*: -30.95%
• 10Y*: —
• ALL TIME*: -12.18%

XME

• 1D: -1.19%
• 1M: -4.26%
• 6M: -15.11%
• YTD: -2.73%
• 1Y: 39.51%
• 3Y*: 24.33%
• 5Y*: 18.53%
• 10Y*: 14.85%
• ALL TIME*: 5.47%

*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)
PHR Phreesia, Inc.	$7.55M	$7.88M	$12.05M
XME SPDR S&P Metals & Mining ETF	$205.06M	$204.83M	$245.34M

PHR vs. XME - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PHR Phreesia, Inc.	-36.58%	-32.75%	8.68%	-28.46%	-22.32%	-23.22%	103.68%	-0.41%
XME SPDR S&P Metals & Mining ETF	-2.73%	83.47%	-4.54%	21.51%	13.13%	34.92%	15.95%	4.94%

Correlation

The correlation between PHR and XME is -0.01, 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.	-0.01
Correlation (3Y) Balances recent behavior with more history.	0.24
Correlation (5Y) Shows whether the relationship held over a longer period.	0.28
Correlation (All Time) Calculated using the full available price history since Jul 18, 2019	0.28

The correlation between PHR and XME shifts across timeframes, from -0.01 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PHR vs. XME — Risk / Return Rank

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

PHR

PHR Risk / Return Rank: 9
PHR Sharpe Ratio Rank: 4
PHR Sortino Ratio Rank: 6
PHR Omega Ratio Rank: 4
PHR Calmar Ratio Rank: 13
PHR Martin Ratio Rank: 18

XME

XME Risk / Return Rank: 39
XME Sharpe Ratio Rank: 42
XME Sortino Ratio Rank: 41
XME Omega Ratio Rank: 40
XME Calmar Ratio Rank: 41
XME Martin Ratio Rank: 34

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.

PHR vs. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Phreesia, Inc. (PHR) and SPDR S&P Metals & Mining ETF (XME). 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.

	PHR	XME	Difference
Sharpe ratio: Return per unit of total volatility	-1.04	1.03	-2.07
Sortino ratio: Return per unit of downside risk	-1.52	1.52	-3.04
Omega ratio: Gain probability vs. loss probability	0.78	1.19	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.80	1.43	-2.23
Martin ratio: Return relative to average drawdown	-1.12	3.22	-4.33

PHR vs. XME - Sharpe Ratio Comparison

The current PHR Sharpe Ratio is -1.04, which is lower than the XME Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of PHR and XME, 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

PHR vs. XME - Drawdown Comparison

The maximum PHR drawdown since its inception was -90.00%, roughly equal to the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for PHR and XME.

Drawdown Indicators

	PHR	XME	Difference
Max Drawdown Largest peak-to-trough decline	-90.00%	-85.89%	-4.11%
Max Drawdown (1Y) Largest decline over 1 year	-75.24%	-26.49%	-48.75%
Max Drawdown (3Y) Largest decline over 3 years	-75.24%	-30.47%	-44.77%
Max Drawdown (5Y) Largest decline over 5 years	-89.24%	-37.27%	-51.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-86.69%	-24.17%	-62.52%
Average Drawdown Average peak-to-trough decline	-51.61%	-43.93%	-7.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	54.02%	11.77%	+42.25%

Volatility

PHR vs. XME - Volatility Comparison

Phreesia, Inc. (PHR) has a higher volatility of 12.34% compared to SPDR S&P Metals & Mining ETF (XME) at 10.33%. This indicates that PHR's price experiences larger fluctuations and is considered to be riskier than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PHR	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.34%	10.33%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	47.98%	28.52%	+19.46%
Volatility (1Y) Calculated over the trailing 1-year period	58.05%	36.88%	+21.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.62%	32.70%	+27.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	59.47%	32.88%	+26.59%

Dividends

PHR vs. XME - Dividend Comparison

PHR has not paid dividends to shareholders, while XME's dividend yield for the trailing twelve months is around 0.37%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PHR Phreesia, 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%
XME SPDR S&P Metals & Mining ETF	0.37%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

Can I hold both PHR and XME in my portfolio?

PHR and XME have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PHR or XME?

PHR has higher volatility (12.34%) compared to XME (10.33%). In terms of maximum drawdown, PHR dropped -90.00% vs XME's -85.89%.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (1.03 vs -1.04), 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.