PPH vs. XLVI

Last updated Jun 4, 2026

PPH (VanEck Vectors Pharmaceutical ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - PPH is a Health & Biotech Equities fund tracking the MVIS US Listed Pharmaceutical 25 Index, while XLVI is a Derivative Income fund actively managed by State Street. PPH is passively managed, while XLVI is actively managed. Their correlation of 0.87 suggests significant overlap in exposure. PPH charges 0.36%/yr vs 0.35%/yr for XLVI.

Performance

PPH vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Pharmaceutical ETF (PPH) 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, PPH achieves a -0.76% return, which is significantly lower than XLVI's -0.67% return.

PPH

• 1D: 0.33%
• 1M: -0.56%
• YTD: -0.76%
• 6M: 2.14%
• 1Y: 17.87%
• 3Y*: 12.03%
• 5Y*: 9.22%
• 10Y*: 7.46%

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)

PPH vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
PPH VanEck Vectors Pharmaceutical ETF	-0.76%	21.32%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between PPH and XLVI is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.87

PPH vs. XLVI - Sectors Allocation Comparison

Sectors	PPH	XLVI
Healthcare	100.0%	-
Industrials	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.6%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PPH vs. XLVI — Risk / Return Rank

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

PPH

PPH Risk / Return Rank: 29
PPH Sharpe Ratio Rank: 28
PPH Sortino Ratio Rank: 30
PPH Omega Ratio Rank: 28
PPH Calmar Ratio Rank: 33
PPH Martin Ratio Rank: 27

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.

PPH vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Pharmaceutical ETF (PPH) 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.

	PPH	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.04	—	—
Sortino ratio: Return per unit of downside risk	1.64	—	—
Omega ratio: Gain probability vs. loss probability	1.19	—	—
Calmar ratio: Return relative to maximum drawdown	1.67	—	—
Martin ratio: Return relative to average drawdown	3.88	—	—
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

	PPH	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	1.33	-1.02

Drawdowns

PPH vs. XLVI - Drawdown Comparison

The maximum PPH drawdown since its inception was -51.45%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for PPH and XLVI.

Drawdown Indicators

	PPH	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-51.45%	-8.14%	-43.31%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.70%	—	—
Current Drawdown Current decline from peak	-8.34%	-4.02%	-4.32%
Average Drawdown Average peak-to-trough decline	-17.31%	-1.95%	-15.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	—	—

Volatility

Volatility by Period

	PPH	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	10.94%	+6.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.07%	10.94%	+4.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	10.94%	+6.02%

PPH vs. XLVI - Expense Ratio Comparison

PPH has a 0.36% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

PPH vs. XLVI - Dividend Comparison

PPH's dividend yield for the trailing twelve months is around 2.12%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PPH VanEck Vectors Pharmaceutical ETF	2.12%	1.78%	1.98%	2.09%	1.55%	1.62%	1.66%	1.77%	1.97%	1.92%	2.43%	1.93%
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 PPH and XLVI in my portfolio?

PPH and XLVI have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PPH 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, PPH or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.36% for PPH.

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

XLVI has the higher dividend yield at 11.53%, compared with 2.12% for PPH.

What is the main difference between PPH and XLVI?

PPH is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.36% for PPH and 0.35% for XLVI.