SLF vs. XBI

Last updated Jun 4, 2026

SLF (Sun Life Financial Inc.) is a stock, while XBI (SPDR S&P Biotech ETF) is Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry Index. Over the past 10 years, SLF returned 12.26%/yr vs 8.53%/yr for XBI. At a 0.37 correlation, their price movements are largely independent.

Performance

SLF vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sun Life Financial Inc. (SLF) 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, SLF achieves a 17.89% return, which is significantly higher than XBI's 6.48% return. Over the past 10 years, SLF has outperformed XBI with an annualized return of 12.26%, while XBI has yielded a comparatively lower 8.53% annualized return.

SLF

• 1D: -0.87%
• 1M: 0.92%
• YTD: 17.89%
• 6M: 27.23%
• 1Y: 15.84%
• 3Y*: 18.09%
• 5Y*: 10.73%
• 10Y*: 12.26%

XBI

• 1D: 1.62%
• 1M: -2.75%
• YTD: 6.48%
• 6M: 6.92%
• 1Y: 58.25%
• 3Y*: 14.73%
• 5Y*: 0.59%
• 10Y*: 8.53%

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

SLF vs. XBI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLF Sun Life Financial Inc.	17.89%	9.72%	19.48%	17.77%	-12.89%	29.71%	1.55%	42.69%	-16.37%	11.18%
XBI SPDR S&P Biotech ETF	6.48%	35.89%	1.01%	7.60%	-25.87%	-20.45%	48.33%	32.56%	-15.28%	43.77%

Correlation

The correlation between SLF and XBI is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.33
Correlation (All Time) Calculated using the full available price history since Feb 7, 2006	0.37

Over the past year, the correlation between SLF and XBI has dropped to 0.12 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

Return for Risk

SLF vs. XBI — Risk / Return Rank

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

SLF

SLF Risk / Return Rank: 61
SLF Sharpe Ratio Rank: 66
SLF Sortino Ratio Rank: 57
SLF Omega Ratio Rank: 60
SLF Calmar Ratio Rank: 62
SLF Martin Ratio Rank: 61

XBI

XBI Risk / Return Rank: 74
XBI Sharpe Ratio Rank: 68
XBI Sortino Ratio Rank: 67
XBI Omega Ratio Rank: 60
XBI Calmar Ratio Rank: 91
XBI Martin Ratio Rank: 85

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.

SLF vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sun Life Financial Inc. (SLF) 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.

	SLF	XBI	Difference
Sharpe ratio: Return per unit of total volatility	0.79	2.30	-1.51
Sortino ratio: Return per unit of downside risk	1.12	3.16	-2.04
Omega ratio: Gain probability vs. loss probability	1.16	1.38	-0.21
Calmar ratio: Return relative to maximum drawdown	1.07	6.02	-4.96
Martin ratio: Return relative to average drawdown	2.30	18.30	-16.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLF vs. XBI - Sharpe Ratio Comparison

The current SLF Sharpe Ratio is 0.79, which is lower than the XBI Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of SLF 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.

Sharpe Ratios by Period

	SLF	XBI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	2.30	-1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.02	+0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.27	+0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.36	+0.06

Drawdowns

SLF vs. XBI - Drawdown Comparison

The maximum SLF drawdown since its inception was -78.60%, which is greater than XBI's maximum drawdown of -63.89%. Use the drawdown chart below to compare losses from any high point for SLF and XBI.

Drawdown Indicators

	SLF	XBI	Difference
Max Drawdown Largest peak-to-trough decline	-78.60%	-63.89%	-14.71%
Max Drawdown (1Y) Largest decline over 1 year	-14.91%	-9.72%	-5.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.91%	-32.99%	+18.08%
Max Drawdown (5Y) Largest decline over 5 years	-30.77%	-54.71%	+23.94%
Max Drawdown (10Y) Largest decline over 10 years	-50.84%	-63.89%	+13.05%
Current Drawdown Current decline from peak	-0.87%	-24.96%	+24.09%
Average Drawdown Average peak-to-trough decline	-16.88%	-20.93%	+4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.90%	3.19%	+3.71%

Volatility

SLF vs. XBI - Volatility Comparison

The current volatility for Sun Life Financial Inc. (SLF) is 7.05%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.26%. This indicates that SLF 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

	SLF	XBI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	9.26%	-2.21%
Volatility (6M) Calculated over the trailing 6-month period	14.08%	20.18%	-6.10%
Volatility (1Y) Calculated over the trailing 1-year period	20.08%	25.50%	-5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.42%	32.18%	-12.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.89%	32.00%	-9.11%

Dividends

SLF vs. XBI - Dividend Comparison

SLF's dividend yield for the trailing twelve months is around 3.68%, more than XBI's 0.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SLF Sun Life Financial Inc.	3.68%	4.03%	4.00%	4.98%	4.59%	3.32%	3.69%	3.47%	4.71%	3.17%	3.98%	4.64%
XBI SPDR S&P Biotech ETF	0.34%	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 SLF and XBI in my portfolio?

SLF and XBI have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLF or XBI?

XBI has higher volatility (9.26%) compared to SLF (7.05%). In terms of maximum drawdown, SLF dropped -78.60% vs XBI's -63.89%.

Which has better risk-adjusted returns?

XBI currently has the higher Sharpe Ratio (2.30 vs 0.79), 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.