SBIO vs. PSCH

Last updated Jun 4, 2026

SBIO (ALPS Medical Breakthroughs ETF) and PSCH (Invesco S&P SmallCap Health Care ETF) are both Health & Biotech Equities funds - SBIO tracks the S-Network Medical Breakthroughs Index while PSCH tracks the S&P SmallCap 600 Health Care Index. Both are passively managed. Over the past 10 years, SBIO returned 8.02%/yr vs 6.81%/yr for PSCH. A 0.75 correlation means they provide meaningful diversification when combined. SBIO charges 0.50%/yr vs 0.29%/yr for PSCH.

Performance

SBIO vs. PSCH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS Medical Breakthroughs ETF (SBIO) and Invesco S&P SmallCap Health Care ETF (PSCH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBIO achieves a -0.39% return, which is significantly lower than PSCH's 1.80% return. Over the past 10 years, SBIO has outperformed PSCH with an annualized return of 8.02%, while PSCH has yielded a comparatively lower 6.81% annualized return.

SBIO

• 1D: 1.41%
• 1M: -7.56%
• YTD: -0.39%
• 6M: 3.05%
• 1Y: 65.41%
• 3Y*: 17.80%
• 5Y*: 2.68%
• 10Y*: 8.02%

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%

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

SBIO vs. PSCH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBIO ALPS Medical Breakthroughs ETF	-0.39%	55.07%	3.81%	8.68%	-28.08%	-17.55%	21.17%	50.30%	-11.81%	45.67%
PSCH Invesco S&P SmallCap Health Care ETF	1.80%	-0.49%	3.77%	-2.71%	-25.15%	5.75%	31.47%	20.17%	9.15%	34.87%

Correlation

The correlation between SBIO and PSCH is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.75

The correlation between SBIO and PSCH has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.

SBIO vs. PSCH - Sectors Allocation Comparison

Sectors	SBIO	PSCH
Healthcare	100.0%	97.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	0.7%
Real Estate	-	-
Technology	-	1.7%
Utilities	-	-
Financial Services	-0.0%	1.1%

Return for Risk

SBIO vs. PSCH — Risk / Return Rank

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

SBIO

SBIO Risk / Return Rank: 72
SBIO Sharpe Ratio Rank: 67
SBIO Sortino Ratio Rank: 67
SBIO Omega Ratio Rank: 59
SBIO Calmar Ratio Rank: 88
SBIO Martin Ratio Rank: 79

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.

SBIO vs. PSCH - Risk-Adjusted Trends Comparison

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

	SBIO	PSCH	Difference
Sharpe ratio: Return per unit of total volatility	2.24	0.51	+1.74
Sortino ratio: Return per unit of downside risk	3.10	0.87	+2.23
Omega ratio: Gain probability vs. loss probability	1.36	1.10	+0.26
Calmar ratio: Return relative to maximum drawdown	5.19	0.67	+4.53
Martin ratio: Return relative to average drawdown	15.57	1.84	+13.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBIO vs. PSCH - Sharpe Ratio Comparison

The current SBIO Sharpe Ratio is 2.24, which is higher than the PSCH Sharpe Ratio of 0.51. The chart below compares the historical Sharpe Ratios of SBIO and PSCH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SBIO	PSCH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	0.51	+1.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.08	-0.25	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.24	0.29	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.51	-0.30

Drawdowns

SBIO vs. PSCH - Drawdown Comparison

The maximum SBIO drawdown since its inception was -63.06%, which is greater than PSCH's maximum drawdown of -46.32%. Use the drawdown chart below to compare losses from any high point for SBIO and PSCH.

Drawdown Indicators

	SBIO	PSCH	Difference
Max Drawdown Largest peak-to-trough decline	-63.06%	-46.32%	-16.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.66%	-15.36%	+2.70%
Max Drawdown (3Y) Largest decline over 3 years	-42.44%	-22.98%	-19.46%
Max Drawdown (5Y) Largest decline over 5 years	-53.10%	-46.32%	-6.78%
Max Drawdown (10Y) Largest decline over 10 years	-63.06%	-46.32%	-16.74%
Current Drawdown Current decline from peak	-16.79%	-30.59%	+13.80%
Average Drawdown Average peak-to-trough decline	-28.45%	-13.46%	-14.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.22%	5.54%	-1.32%

Volatility

SBIO vs. PSCH - Volatility Comparison

ALPS Medical Breakthroughs ETF (SBIO) has a higher volatility of 9.48% compared to Invesco S&P SmallCap Health Care ETF (PSCH) at 4.19%. This indicates that SBIO's price experiences larger fluctuations and is considered to be riskier than PSCH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBIO	PSCH	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.48%	4.19%	+5.29%
Volatility (6M) Calculated over the trailing 6-month period	22.70%	14.06%	+8.64%
Volatility (1Y) Calculated over the trailing 1-year period	29.42%	20.26%	+9.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.56%	22.89%	+10.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.17%	23.63%	+9.54%

SBIO vs. PSCH - Expense Ratio Comparison

SBIO has a 0.50% expense ratio, which is higher than PSCH's 0.29% expense ratio.

Dividends

SBIO vs. PSCH - Dividend Comparison

SBIO has not paid dividends to shareholders, while PSCH's dividend yield for the trailing twelve months is around 0.01%.

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%
SBIO ALPS Medical Breakthroughs ETF	0.00%	0.00%	3.55%	0.22%	0.00%	0.00%	0.00%	0.04%	2.79%	1.77%	0.00%

Frequently Asked Questions

Can I hold both SBIO and PSCH in my portfolio?

SBIO and PSCH 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, SBIO or PSCH?

SBIO has higher volatility (9.48%) compared to PSCH (4.19%). In terms of maximum drawdown, SBIO dropped -63.06% vs PSCH's -46.32%.

Which ETF is better, SBIO or PSCH?

On 10-year performance, SBIO leads with 8.02% vs 6.81% for PSCH. On fees, PSCH is cheaper at 0.29% per year. On volatility, PSCH has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SBIO or PSCH?

Over the 10-year period, SBIO has performed better with a 8.02% return vs 6.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SBIO or PSCH?

PSCH is cheaper with a 0.29% expense ratio, compared with 0.50% for SBIO.

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

PSCH has the higher dividend yield at 0.01%, compared with 0.00% for SBIO.

What is the main difference between SBIO and PSCH?

SBIO tracks S-Network Medical Breakthroughs Index, while PSCH tracks S&P SmallCap 600 Health Care Index. They also come from different issuers: SS&C and Invesco. Their fees differ too: 0.50% for SBIO and 0.29% for PSCH.

Which has better risk-adjusted returns?

SBIO currently has the higher Sharpe Ratio (2.24 vs 0.51), 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.