PINK vs. XLV

Last updated Aug 2, 2026

PINK (Simplify Health Care ETF) and XLV (State Street Health Care Select Sector SPDR ETF) are both Health & Biotech Equities funds. PINK is actively managed, while XLV is passively managed. Over the past 3 years, PINK returned 14.07%/yr vs 8.60%/yr for XLV. Their correlation of 0.81 means they have usually moved in the same direction. PINK charges 0.50%/yr vs 0.08%/yr for XLV.

Performance

PINK vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Health Care ETF (PINK) 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, PINK achieves a 6.64% return, which is significantly higher than XLV's 5.90% return.

PINK

• 1D: -1.57%
• 1M: -3.09%
• 6M: 8.45%
• YTD: 6.64%
• 1Y: 34.24%
• 3Y*: 14.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.20%

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)
PINK Simplify Health Care ETF	$3.41M	$3.95M	$4.91M
XLV State Street Health Care Select Sector SPDR ETF	$1.43B	$1.62B	$1.62B

PINK vs. XLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PINK Simplify Health Care ETF	6.64%	24.34%	8.81%	3.80%	-4.41%	11.45%
XLV State Street Health Care Select Sector SPDR ETF	5.90%	14.50%	2.47%	2.07%	-2.08%	10.86%

Correlation

The correlation between PINK and XLV is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Oct 8, 2021	0.81

The correlation between PINK and XLV shifts across timeframes, from 0.67 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

PINK vs. XLV - Sectors Allocation Comparison

Sectors	PINK	XLV
Healthcare	92.7%	99.4%
Industrials	7.3%	-
Consumer Cyclical	4.1%	-
Financial Services	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Technology	-	0.5%
Utilities	-	-

Return for Risk

PINK vs. XLV — Risk / Return Rank

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

PINK

PINK Risk / Return Rank: 70
PINK Sharpe Ratio Rank: 81
PINK Sortino Ratio Rank: 82
PINK Omega Ratio Rank: 76
PINK Calmar Ratio Rank: 58
PINK Martin Ratio Rank: 53

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.

PINK vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Health Care ETF (PINK) 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.

	PINK	XLV	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.72	+0.15
Sortino ratio: Return per unit of downside risk	2.68	2.70	-0.02
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.06	2.57	-0.51
Martin ratio: Return relative to average drawdown	6.22	6.15	+0.07

PINK vs. XLV - Sharpe Ratio Comparison

The current PINK Sharpe Ratio is 1.87, which is comparable to the XLV Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PINK 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

PINK vs. XLV - Drawdown Comparison

The maximum PINK drawdown since its inception was -18.77%, smaller than the maximum XLV drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for PINK and XLV.

Drawdown Indicators

	PINK	XLV	Difference
Max Drawdown Largest peak-to-trough decline	-18.77%	-39.17%	+20.40%
Max Drawdown (1Y) Largest decline over 1 year	-16.81%	-10.47%	-6.34%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-17.11%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.40%	—
Current Drawdown Current decline from peak	-3.09%	-2.82%	-0.27%
Average Drawdown Average peak-to-trough decline	-6.60%	-7.09%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.56%	4.37%	+1.19%

Volatility

PINK vs. XLV - Volatility Comparison

The current volatility for Simplify Health Care ETF (PINK) is 4.86%, while State Street Health Care Select Sector SPDR ETF (XLV) has a volatility of 6.03%. This indicates that PINK experiences smaller price fluctuations and is considered to be less risky than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PINK	XLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	6.03%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	13.76%	12.07%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	18.69%	15.90%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.57%	15.04%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.57%	16.66%	+0.91%

PINK vs. XLV - Expense Ratio Comparison

PINK has a 0.50% expense ratio, which is higher than XLV's 0.08% expense ratio.

Dividends

PINK vs. XLV - Dividend Comparison

PINK's dividend yield for the trailing twelve months is around 0.64%, less than XLV's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PINK Simplify Health Care ETF	0.64%	0.68%	0.32%	0.94%	0.42%	0.04%	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 PINK and XLV in my portfolio?

PINK and XLV have a correlation of 0.67, 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 XLV?

XLV has higher volatility (6.03%) compared to PINK (4.86%). In terms of maximum drawdown, PINK dropped -18.77% vs XLV's -39.17%.

Which ETF is better, PINK or XLV?

On 3-year performance, PINK leads with 14.07% vs 8.60% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, PINK has been the lower-risk option at 4.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PINK or XLV?

Over the 3-year period, PINK has performed better with a 14.07% return vs 8.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PINK or XLV?

XLV is cheaper with a 0.08% expense ratio, compared with 0.50% for PINK.

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

XLV has the higher dividend yield at 1.56%, compared with 0.64% for PINK.

What is the main difference between PINK and XLV?

They also come from different issuers: Simplify and State Street. Their fees differ too: 0.50% for PINK and 0.08% for XLV.

Which has better risk-adjusted returns?

PINK currently has the higher Sharpe Ratio (1.87 vs 1.72), 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.