TMED vs. XLVI

Last updated Jul 14, 2026

TMED (T. Rowe Price Health Care ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - TMED is a Health & Biotech Equities fund managed by T. Rowe Price, while XLVI is a Derivative Income fund actively managed by State Street. Their correlation of 0.83 suggests significant overlap in exposure. TMED charges 0.44%/yr vs 0.35%/yr for XLVI.

Performance

TMED vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Health Care ETF (TMED) 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, TMED achieves a 16.84% return, which is significantly higher than XLVI's 6.03% return.

TMED

• 1D: -0.28%
• 1M: 9.47%
• 6M: 14.05%
• YTD: 16.84%
• 1Y: 39.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XLVI

• 1D: 0.01%
• 1M: 3.67%
• 6M: 4.16%
• YTD: 6.03%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMED vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
TMED T. Rowe Price Health Care ETF	16.84%	21.72%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	6.03%	12.41%

Correlation

The correlation between TMED and XLVI is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.83

Return for Risk

TMED vs. XLVI — Risk / Return Rank

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

TMED

TMED Risk / Return Rank: 82
TMED Sharpe Ratio Rank: 84
TMED Sortino Ratio Rank: 86
TMED Omega Ratio Rank: 78
TMED Calmar Ratio Rank: 83
TMED Martin Ratio Rank: 79

XLVI

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.

TMED vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Health Care ETF (TMED) 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.

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.

	TMED	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	2.13	—	—
Sortino ratio: Return per unit of downside risk	3.08	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.53	—	—
Martin ratio: Return relative to average drawdown	11.87	—	—

Drawdowns

TMED vs. XLVI - Drawdown Comparison

The maximum TMED drawdown since its inception was -11.11%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for TMED and XLVI.

Drawdown Indicators

	TMED	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-11.11%	-8.14%	-2.97%
Max Drawdown (1Y) Largest decline over 1 year	-11.11%	—	—
Current Drawdown Current decline from peak	-1.86%	-0.02%	-1.84%
Average Drawdown Average peak-to-trough decline	-2.38%	-1.84%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	—	—

Volatility

Volatility by Period

	TMED	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	10.87%	+7.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.18%	10.87%	+7.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.18%	10.87%	+7.31%

TMED vs. XLVI - Expense Ratio Comparison

TMED has a 0.44% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

TMED vs. XLVI - Dividend Comparison

TMED's dividend yield for the trailing twelve months is around 0.47%, less than XLVI's 11.92% yield.

Position	TTM	2025
TMED T. Rowe Price Health Care ETF	0.47%	0.54%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.92%	5.73%

Frequently Asked Questions

Can I hold both TMED and XLVI in my portfolio?

TMED and XLVI have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMED or XLVI?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TMED or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.44% for TMED.

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

XLVI has the higher dividend yield at 11.92%, compared with 0.47% for TMED.

What is the main difference between TMED and XLVI?

TMED is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: T. Rowe Price and State Street. Their fees differ too: 0.44% for TMED and 0.35% for XLVI.