PSCH vs. XLVI

Last updated Jun 4, 2026

PSCH (Invesco S&P SmallCap Health Care ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - PSCH is a Health & Biotech Equities fund tracking the S&P SmallCap 600 Health Care Index, while XLVI is a Derivative Income fund actively managed by State Street. PSCH is passively managed, while XLVI is actively managed. A 0.58 correlation means they provide meaningful diversification when combined. PSCH charges 0.29%/yr vs 0.35%/yr for XLVI.

Performance

PSCH vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Health Care ETF (PSCH) 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, PSCH achieves a 1.80% return, which is significantly higher than XLVI's -0.67% return.

PSCH

• 1D: 1.28%
• 1M: -0.71%
• YTD: 1.80%
• 6M: -1.68%
• 1Y: 10.18%
• 3Y*: 0.45%
• 5Y*: -5.72%
• 10Y*: 6.81%

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)

PSCH vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
PSCH Invesco S&P SmallCap Health Care ETF	1.80%	13.74%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between PSCH and XLVI is 0.58, 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	0.58

PSCH vs. XLVI - Sectors Allocation Comparison

Sectors	PSCH	XLVI
Healthcare	97.3%	-
Technology	1.7%	-
Financial Services	1.1%	100.6%
Industrials	0.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

PSCH vs. XLVI — Risk / Return Rank

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

PSCH

PSCH Risk / Return Rank: 17
PSCH Sharpe Ratio Rank: 17
PSCH Sortino Ratio Rank: 17
PSCH Omega Ratio Rank: 17
PSCH Calmar Ratio Rank: 17
PSCH Martin Ratio Rank: 18

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.

PSCH vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Health Care ETF (PSCH) 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.

	PSCH	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	0.51	—	—
Sortino ratio: Return per unit of downside risk	0.87	—	—
Omega ratio: Gain probability vs. loss probability	1.10	—	—
Calmar ratio: Return relative to maximum drawdown	0.67	—	—
Martin ratio: Return relative to average drawdown	1.84	—	—
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

	PSCH	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.51	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	1.33	-0.81

Drawdowns

PSCH vs. XLVI - Drawdown Comparison

The maximum PSCH drawdown since its inception was -46.32%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for PSCH and XLVI.

Drawdown Indicators

	PSCH	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-46.32%	-8.14%	-38.18%
Max Drawdown (1Y) Largest decline over 1 year	-15.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-46.32%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.32%	—	—
Current Drawdown Current decline from peak	-30.59%	-4.02%	-26.57%
Average Drawdown Average peak-to-trough decline	-13.46%	-1.95%	-11.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.54%	—	—

Volatility

Volatility by Period

	PSCH	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.26%	10.94%	+9.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.89%	10.94%	+11.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.63%	10.94%	+12.69%

PSCH vs. XLVI - Expense Ratio Comparison

PSCH has a 0.29% expense ratio, which is lower than XLVI's 0.35% expense ratio.

Dividends

PSCH vs. XLVI - Dividend Comparison

PSCH's dividend yield for the trailing twelve months is around 0.01%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PSCH Invesco S&P SmallCap Health Care ETF	0.01%	0.04%	0.27%	0.01%	2.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%
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%

Frequently Asked Questions

Can I hold both PSCH and XLVI in my portfolio?

PSCH and XLVI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PSCH or XLVI?

On fees, PSCH is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PSCH or XLVI?

PSCH is cheaper with a 0.29% expense ratio, compared with 0.35% for XLVI.

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

XLVI has the higher dividend yield at 11.53%, compared with 0.01% for PSCH.

What is the main difference between PSCH and XLVI?

PSCH 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: 0.29% for PSCH and 0.35% for XLVI.