PINK vs. XBI

Last updated Jun 24, 2026

PINK (Simplify Health Care ETF) and XBI (SPDR S&P Biotech ETF) are both Health & Biotech Equities funds. PINK is actively managed, while XBI is passively managed. Over the past 3 years, PINK returned 13.33%/yr vs 20.24%/yr for XBI. A 0.69 correlation means they provide meaningful diversification when combined. PINK charges 0.50%/yr vs 0.35%/yr for XBI.

Performance

PINK vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Health Care ETF (PINK) and SPDR S&P Biotech ETF (XBI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PINK achieves a 3.02% return, which is significantly lower than XBI's 20.70% return.

PINK

• 1D: 0.59%
• 1M: 2.14%
• YTD: 3.02%
• 6M: 2.13%
• 1Y: 28.62%
• 3Y*: 13.33%
• 5Y*: —
• 10Y*: —

XBI

• 1D: 0.80%
• 1M: 11.78%
• YTD: 20.70%
• 6M: 17.84%
• 1Y: 79.53%
• 3Y*: 20.24%
• 5Y*: 1.51%
• 10Y*: 11.14%

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

PINK vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PINK Simplify Health Care ETF	3.02%	24.34%	8.81%	3.80%	-4.41%	11.45%
XBI SPDR S&P Biotech ETF	20.70%	35.89%	1.01%	7.60%	-25.87%	-9.64%

Correlation

The correlation between PINK and XBI is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 8, 2021	0.69

The correlation between PINK and XBI has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

PINK vs. XBI - Sectors Allocation Comparison

Sectors	PINK	XBI
Healthcare	89.5%	99.7%
Industrials	10.5%	-
Financial Services	0.0%	0.3%
Basic Materials	-	0.2%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PINK vs. XBI — Risk / Return Rank

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

PINK

PINK Risk / Return Rank: 42
PINK Sharpe Ratio Rank: 48
PINK Sortino Ratio Rank: 49
PINK Omega Ratio Rank: 43
PINK Calmar Ratio Rank: 36
PINK Martin Ratio Rank: 36

XBI

XBI Risk / Return Rank: 90
XBI Sharpe Ratio Rank: 91
XBI Sortino Ratio Rank: 89
XBI Omega Ratio Rank: 82
XBI Calmar Ratio Rank: 96
XBI Martin Ratio Rank: 94

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.

PINK vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Health Care ETF (PINK) and SPDR S&P Biotech ETF (XBI). 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.

	PINK	XBI	Difference
Sharpe ratio: Return per unit of total volatility	1.55	3.02	-1.47
Sortino ratio: Return per unit of downside risk	2.27	3.89	-1.62
Omega ratio: Gain probability vs. loss probability	1.26	1.47	-0.20
Calmar ratio: Return relative to maximum drawdown	1.71	8.22	-6.51
Martin ratio: Return relative to average drawdown	5.11	24.30	-19.19

PINK vs. XBI - Sharpe Ratio Comparison

The current PINK Sharpe Ratio is 1.55, which is lower than the XBI Sharpe Ratio of 3.02. The chart below compares the historical Sharpe Ratios of PINK and XBI, 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

PINK vs. XBI - Drawdown Comparison

The maximum PINK drawdown since its inception was -18.77%, smaller than the maximum XBI drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for PINK and XBI.

Drawdown Indicators

	PINK	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-18.77%	-63.89%	+45.12%
Max Drawdown (1Y) Largest decline over 1 year	-16.81%	-9.72%	-7.09%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-32.99%	+14.22%
Max Drawdown (5Y) Largest decline over 5 years	—	-54.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-63.89%	—
Current Drawdown Current decline from peak	-2.24%	-14.94%	+12.70%
Average Drawdown Average peak-to-trough decline	-6.71%	-20.93%	+14.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.62%	3.28%	+2.34%

Volatility

PINK vs. XBI - Volatility Comparison

The current volatility for Simplify Health Care ETF (PINK) is 5.50%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.96%. This indicates that PINK experiences smaller price fluctuations and is considered to be less risky than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PINK	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	9.96%	-4.46%
Volatility (6M) Calculated over the trailing 6-month period	13.83%	21.31%	-7.48%
Volatility (1Y) Calculated over the trailing 1-year period	18.53%	26.47%	-7.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.59%	32.30%	-14.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.59%	32.01%	-14.42%

PINK vs. XBI - Expense Ratio Comparison

PINK has a 0.50% expense ratio, which is higher than XBI's 0.35% expense ratio.

Dividends

PINK vs. XBI - Dividend Comparison

PINK's dividend yield for the trailing twelve months is around 0.66%, more than XBI's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PINK Simplify Health Care ETF	0.66%	0.68%	0.32%	0.94%	0.42%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XBI SPDR S&P Biotech ETF	0.39%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%

Frequently Asked Questions

Can I hold both PINK and XBI in my portfolio?

PINK and XBI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PINK or XBI?

XBI has higher volatility (9.96%) compared to PINK (5.50%). In terms of maximum drawdown, PINK dropped -18.77% vs XBI's -63.89%.

Which ETF is better, PINK or XBI?

On 3-year performance, XBI leads with 20.24% vs 13.33% for PINK. On fees, XBI is cheaper at 0.35% per year. On volatility, PINK has been the lower-risk option at 5.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PINK or XBI?

Over the 3-year period, XBI has performed better with a 20.24% return vs 13.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PINK or XBI?

XBI is cheaper with a 0.35% expense ratio, compared with 0.50% for PINK.

Which ETF pays a higher dividend yield, PINK or XBI?

PINK has the higher dividend yield at 0.66%, compared with 0.39% for XBI.

What is the main difference between PINK and XBI?

They also come from different issuers: Simplify and State Street. Their fees differ too: 0.50% for PINK and 0.35% for XBI.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (3.02 vs 1.55), 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.