SPXV vs. SPXE

Last updated Jul 14, 2026

SPXV (ProShares S&P 500 Ex-Health Care ETF) and SPXE (ProShares S&P 500 Ex-Energy ETF) are both S&P 500 funds from ProShares - SPXV tracks the S&P 500 Ex-Health Care Index while SPXE tracks the S&P 500 Ex-Energy Index. Both are passively managed. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.09% expense ratio.

Performance

SPXV vs. SPXE - Performance Comparison

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

Returns By Period

SPXV

• 1D: -0.87%
• 1M: 0.89%
• 6M: 8.82%
• YTD: 10.82%
• 1Y: 21.44%
• 3Y*: 21.58%
• 5Y*: 13.77%
• 10Y*: 16.22%

SPXE

• 1D: -0.87%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPXV vs. SPXE - Yearly Performance Comparison

	2026 (YTD)
SPXV ProShares S&P 500 Ex-Health Care ETF	-0.25%
SPXE ProShares S&P 500 Ex-Energy ETF	-0.77%

Correlation

The correlation between SPXV and SPXE is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2026	1.00

SPXV vs. SPXE - Sectors Allocation Comparison

Sectors	SPXV	SPXE
Technology	42.6%	38.6%
Financial Services	12.1%	12.4%
Communication Services	11.6%	10.1%
Consumer Cyclical	10.8%	9.7%
Industrials	8.5%	8.1%
Consumer Defensive	4.9%	4.8%
Energy	3.4%	0.0%
Utilities	2.3%	2.8%
Real Estate	2.0%	1.9%
Basic Materials	1.8%	1.9%
Healthcare	-	9.5%

Return for Risk

SPXV vs. SPXE — Risk / Return Rank

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

SPXV

SPXV Risk / Return Rank: 61
SPXV Sharpe Ratio Rank: 61
SPXV Sortino Ratio Rank: 59
SPXV Omega Ratio Rank: 59
SPXV Calmar Ratio Rank: 59
SPXV Martin Ratio Rank: 66

SPXE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SPXV vs. SPXE - Risk-Adjusted Trends Comparison

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

	SPXV	SPXE	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.23	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.35	—	—
Martin ratio: Return relative to average drawdown	9.47	—	—

Drawdowns

SPXV vs. SPXE - Drawdown Comparison

The maximum SPXV drawdown since its inception was -34.34%, which is greater than SPXE's maximum drawdown of -0.87%. Use the drawdown chart below to compare losses from any high point for SPXV and SPXE.

Drawdown Indicators

	SPXV	SPXE	Difference
Max Drawdown Largest peak-to-trough decline	-34.34%	-0.87%	-33.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.34%	—	—
Current Drawdown Current decline from peak	-2.12%	-0.87%	-1.25%
Average Drawdown Average peak-to-trough decline	-4.50%	-0.44%	-4.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	—	—

Volatility

Volatility by Period

	SPXV	SPXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.39%	10.97%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.90%	10.97%	+6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	10.97%	+7.12%

SPXV vs. SPXE - Expense Ratio Comparison

Both SPXV and SPXE 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

SPXV vs. SPXE - Dividend Comparison

SPXV's dividend yield for the trailing twelve months is around 0.93%, while SPXE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPXE ProShares S&P 500 Ex-Energy ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXV ProShares S&P 500 Ex-Health Care ETF	0.93%	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 SPXV and SPXE in my portfolio?

With a correlation of 1.00, SPXV and SPXE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, SPXV or SPXE?

Both ETFs have the same 0.09% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPXV or SPXE?

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

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

SPXV has the higher dividend yield at 0.93%, compared with 0.00% for SPXE.

What is the main difference between SPXV and SPXE?

SPXV tracks S&P 500 Ex-Health Care Index, while SPXE tracks S&P 500 Ex-Energy Index.