TOI vs. XLV

Last updated Apr 2, 2026

Compare and contrast key facts about The Oncology Institute, Inc. (TOI) and State Street Health Care Select Sector SPDR ETF (XLV).

XLV is a passively managed fund by State Street that tracks the performance of the Health Care Select Sector Index. It was launched on Dec 16, 1998.

Performance

TOI vs. XLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Oncology Institute, Inc. (TOI) and State Street Health Care Select Sector SPDR ETF (XLV). The values are adjusted to include any dividend payments, if applicable.

TOI vs. XLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TOI The Oncology Institute, Inc.	-11.80%	1,052.10%	-84.85%	23.64%	-83.08%	-0.20%
XLV State Street Health Care Select Sector SPDR ETF	-4.18%	14.50%	2.47%	2.07%	-2.08%	6.36%

Returns By Period

In the year-to-date period, TOI achieves a -11.80% return, which is significantly lower than XLV's -4.18% return.

TOI

• 1D: 2.28%
• 1M: 6.44%
• YTD: -11.80%
• 6M: -9.77%
• 1Y: 149.21%
• 3Y*: 66.69%
• 5Y*: —
• 10Y*: —

XLV

• 1D: 0.76%
• 1M: -6.43%
• YTD: -4.18%
• 6M: 3.83%
• 1Y: 4.90%
• 3Y*: 6.25%
• 5Y*: 6.59%
• 10Y*: 9.80%

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

Return for Risk

TOI vs. XLV — Risk / Return Rank

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

TOI

TOI Risk / Return Rank: 83
TOI Sharpe Ratio Rank: 84
TOI Sortino Ratio Rank: 85
TOI Omega Ratio Rank: 78
TOI Calmar Ratio Rank: 88
TOI Martin Ratio Rank: 82

XLV

XLV Risk / Return Rank: 18
XLV Sharpe Ratio Rank: 19
XLV Sortino Ratio Rank: 18
XLV Omega Ratio Rank: 18
XLV Calmar Ratio Rank: 17
XLV Martin Ratio Rank: 16

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.

TOI vs. XLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Oncology Institute, Inc. (TOI) and State Street Health Care Select Sector SPDR ETF (XLV). 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.

	TOI	XLV	Difference
Sharpe ratio Return per unit of total volatility	1.54	0.28	+1.26
Sortino ratio Return per unit of downside risk	2.45	0.51	+1.94
Omega ratio Gain probability vs. loss probability	1.28	1.06	+0.22
Calmar ratio Return relative to maximum drawdown	3.52	0.28	+3.25
Martin ratio Return relative to average drawdown	7.06	0.58	+6.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TOI vs. XLV - Sharpe Ratio Comparison

The current TOI Sharpe Ratio is 1.54, which is higher than the XLV Sharpe Ratio of 0.28. The chart below compares the historical Sharpe Ratios of TOI and XLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TOI	XLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	0.28	+1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.45	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.59	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.20	0.46	-0.66

Correlation

The correlation between TOI and XLV is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TOI vs. XLV - Dividend Comparison

TOI has not paid dividends to shareholders, while XLV's dividend yield for the trailing twelve months is around 1.70%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TOI The Oncology Institute, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
XLV State Street Health Care Select Sector SPDR ETF	1.70%	1.60%	1.67%	1.59%	1.47%	1.33%	1.49%	2.17%	1.57%	1.47%	1.60%	1.43%

Drawdowns

TOI vs. XLV - Drawdown Comparison

The maximum TOI drawdown since its inception was -98.79%, which is greater than XLV's maximum drawdown of -39.17%. Use the drawdown chart below to compare losses from any high point for TOI and XLV.

Drawdown Indicators

	TOI	XLV	Difference
Max Drawdown Largest peak-to-trough decline	-98.79%	-39.17%	-59.62%
Max Drawdown (1Y) Largest decline over 1 year	-49.79%	-10.76%	-39.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-17.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.40%	—
Current Drawdown Current decline from peak	-71.22%	-7.41%	-63.81%
Average Drawdown Average peak-to-trough decline	-74.57%	-7.12%	-67.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.84%	5.11%	+19.73%

Volatility

TOI vs. XLV - Volatility Comparison

The Oncology Institute, Inc. (TOI) has a higher volatility of 27.26% compared to State Street Health Care Select Sector SPDR ETF (XLV) at 4.79%. This indicates that TOI's price experiences larger fluctuations and is considered to be riskier than XLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOI	XLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.26%	4.79%	+22.47%
Volatility (6M) Calculated over the trailing 6-month period	60.60%	10.29%	+50.31%
Volatility (1Y) Calculated over the trailing 1-year period	97.86%	17.73%	+80.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	115.08%	14.56%	+100.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	115.08%	16.53%	+98.55%