SPXT vs. SPXV

Last updated Jun 23, 2026

SPXT (ProShares S&P 500 Ex-Technology ETF) and SPXV (ProShares S&P 500 Ex-Health Care ETF) are both S&P 500 funds from ProShares - SPXT tracks the S&P 500 Ex-Information Technology Index while SPXV tracks the S&P 500 Ex-Health Care Index. Both are passively managed. Over the past 10 years, SPXT returned 11.61%/yr vs 16.21%/yr for SPXV. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.09% expense ratio.

Performance

SPXT vs. SPXV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Technology ETF (SPXT) and ProShares S&P 500 Ex-Health Care ETF (SPXV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPXT achieves a 3.53% return, which is significantly lower than SPXV's 10.77% return. Over the past 10 years, SPXT has underperformed SPXV with an annualized return of 11.61%, while SPXV has yielded a comparatively higher 16.21% annualized return.

SPXT

• 1D: -0.56%
• 1M: -1.26%
• YTD: 3.53%
• 6M: 2.99%
• 1Y: 16.56%
• 3Y*: 16.02%
• 5Y*: 9.46%
• 10Y*: 11.61%

SPXV

• 1D: -0.56%
• 1M: 0.00%
• YTD: 10.77%
• 6M: 10.46%
• 1Y: 27.69%
• 3Y*: 23.22%
• 5Y*: 14.46%
• 10Y*: 16.21%

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

SPXT vs. SPXV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXT ProShares S&P 500 Ex-Technology ETF	3.53%	15.10%	19.93%	16.23%	-14.24%	26.36%	10.44%	26.88%	-7.06%	16.99%
SPXV ProShares S&P 500 Ex-Health Care ETF	10.77%	18.40%	28.02%	30.71%	-20.47%	28.37%	18.99%	33.58%	-3.81%	17.01%

Correlation

The correlation between SPXT and SPXV is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015	0.80

The correlation between SPXT and SPXV shifts across timeframes, from 0.76 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

SPXT vs. SPXV - Sectors Allocation Comparison

Sectors	SPXT	SPXV
Financial Services	18.7%	12.1%
Communication Services	16.4%	11.6%
Consumer Cyclical	15.3%	10.8%
Healthcare	13.5%	-
Industrials	12.8%	8.5%
Consumer Defensive	7.4%	4.9%
Energy	4.9%	3.4%
Utilities	4.2%	2.3%
Real Estate	2.9%	2.0%
Basic Materials	2.8%	1.8%
Technology	0.9%	42.6%

Return for Risk

SPXT vs. SPXV — Risk / Return Rank

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

SPXT

SPXT Risk / Return Rank: 47
SPXT Sharpe Ratio Rank: 47
SPXT Sortino Ratio Rank: 46
SPXT Omega Ratio Rank: 43
SPXT Calmar Ratio Rank: 44
SPXT Martin Ratio Rank: 54

SPXV

SPXV Risk / Return Rank: 65
SPXV Sharpe Ratio Rank: 66
SPXV Sortino Ratio Rank: 63
SPXV Omega Ratio Rank: 64
SPXV Calmar Ratio Rank: 63
SPXV Martin Ratio Rank: 71

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.

SPXT vs. SPXV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Technology ETF (SPXT) and ProShares S&P 500 Ex-Health Care ETF (SPXV). 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.

	SPXT	SPXV	Difference
Sharpe ratio: Return per unit of total volatility	1.58	2.10	-0.52
Sortino ratio: Return per unit of downside risk	2.25	2.84	-0.58
Omega ratio: Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio: Return relative to maximum drawdown	2.11	3.04	-0.93
Martin ratio: Return relative to average drawdown	9.07	12.85	-3.78

SPXT vs. SPXV - Sharpe Ratio Comparison

The current SPXT Sharpe Ratio is 1.58, which is comparable to the SPXV Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of SPXT and SPXV, 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

SPXT vs. SPXV - Drawdown Comparison

The maximum SPXT drawdown since its inception was -34.38%, roughly equal to the maximum SPXV drawdown of -34.34%. Use the drawdown chart below to compare losses from any high point for SPXT and SPXV.

Drawdown Indicators

	SPXT	SPXV	Difference
Max Drawdown Largest peak-to-trough decline	-34.38%	-34.34%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.90%	-9.15%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-15.58%	-19.89%	+4.31%
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	-26.58%	+5.11%
Max Drawdown (10Y) Largest decline over 10 years	-34.38%	-34.34%	-0.04%
Current Drawdown Current decline from peak	-1.96%	-2.17%	+0.21%
Average Drawdown Average peak-to-trough decline	-4.13%	-4.51%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	2.16%	-0.33%

Volatility

SPXT vs. SPXV - Volatility Comparison

The current volatility for ProShares S&P 500 Ex-Technology ETF (SPXT) is 3.49%, while ProShares S&P 500 Ex-Health Care ETF (SPXV) has a volatility of 4.76%. This indicates that SPXT experiences smaller price fluctuations and is considered to be less risky than SPXV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXT	SPXV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	4.76%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	7.91%	10.45%	-2.54%
Volatility (1Y) Calculated over the trailing 1-year period	10.56%	13.27%	-2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.74%	17.87%	-3.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.25%	18.07%	-1.82%

SPXT vs. SPXV - Expense Ratio Comparison

Both SPXT and SPXV have an expense ratio of 0.09%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SPXT vs. SPXV - Dividend Comparison

SPXT's dividend yield for the trailing twelve months is around 1.38%, more than SPXV's 0.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPXT ProShares S&P 500 Ex-Technology ETF	1.38%	1.38%	1.29%	1.53%	1.86%	1.15%	1.63%	1.63%	2.03%	1.55%	2.67%	0.56%
SPXV ProShares S&P 500 Ex-Health Care ETF	0.90%	0.97%	1.12%	1.27%	1.67%	1.11%	1.45%	1.58%	1.89%	1.57%	2.66%	0.56%

Frequently Asked Questions

Can I hold both SPXT and SPXV in my portfolio?

SPXT and SPXV have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPXT or SPXV?

SPXV has higher volatility (4.76%) compared to SPXT (3.49%). In terms of maximum drawdown, SPXT dropped -34.38% vs SPXV's -34.34%.

Which ETF is better, SPXT or SPXV?

On 10-year performance, SPXV leads with 16.21% vs 11.61% for SPXT. Both ETFs have the same 0.09% expense ratio. On volatility, SPXT has been the lower-risk option at 3.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPXT or SPXV?

Over the 10-year period, SPXV has performed better with a 16.21% return vs 11.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPXT or SPXV?

SPXT and SPXV have the same expense ratio: 0.09% per year.

Which ETF pays a higher dividend yield, SPXT or SPXV?

SPXT has the higher dividend yield at 1.38%, compared with 0.90% for SPXV.

What is the main difference between SPXT and SPXV?

SPXT tracks S&P 500 Ex-Information Technology Index, while SPXV tracks S&P 500 Ex-Health Care Index.

Which has better risk-adjusted returns?

SPXV currently has the higher Sharpe Ratio (2.10 vs 1.58), 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.