VHT vs. XLVI

Last updated Jun 4, 2026

VHT (Vanguard Health Care ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - VHT is a Health & Biotech Equities fund tracking the MSCI US Investable Market Health Care 25/50 Index, while XLVI is a Derivative Income fund actively managed by State Street. VHT is passively managed, while XLVI is actively managed. With a 0.95 correlation, they move nearly in lockstep. VHT charges 0.09%/yr vs 0.35%/yr for XLVI.

Performance

VHT vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Health Care ETF (VHT) 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, VHT achieves a -4.02% return, which is significantly lower than XLVI's -0.67% return.

VHT

• 1D: 0.84%
• 1M: 1.45%
• YTD: -4.02%
• 6M: -4.15%
• 1Y: 14.34%
• 3Y*: 6.14%
• 5Y*: 4.51%
• 10Y*: 9.26%

XLVI

• 1D: 0.67%
• 1M: 2.30%
• YTD: -0.67%
• 6M: 0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VHT vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
VHT Vanguard Health Care ETF	-4.02%	17.45%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%

Correlation

The correlation between VHT and XLVI is 0.95 - 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 31, 2025	0.95

VHT vs. XLVI - Sectors Allocation Comparison

Sectors	VHT	XLVI
Healthcare	100.0%	-
Financial Services	0.0%	100.6%
Industrials	0.0%	-
Technology	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

VHT vs. XLVI — Risk / Return Rank

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

VHT

VHT Risk / Return Rank: 27
VHT Sharpe Ratio Rank: 27
VHT Sortino Ratio Rank: 28
VHT Omega Ratio Rank: 26
VHT Calmar Ratio Rank: 28
VHT Martin Ratio Rank: 25

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.

VHT vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care ETF (VHT) 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.

	VHT	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.00	—	—
Sortino ratio: Return per unit of downside risk	1.57	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.38	—	—
Martin ratio: Return relative to average drawdown	3.47	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VHT	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	1.33	-0.77

Drawdowns

VHT vs. XLVI - Drawdown Comparison

The maximum VHT drawdown since its inception was -39.12%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for VHT and XLVI.

Drawdown Indicators

	VHT	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-39.12%	-8.14%	-30.98%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-17.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.85%	—	—
Current Drawdown Current decline from peak	-7.05%	-4.02%	-3.03%
Average Drawdown Average peak-to-trough decline	-5.99%	-1.95%	-4.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	—	—

Volatility

Volatility by Period

	VHT	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.34%	10.94%	+3.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	10.94%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	10.94%	+6.00%

VHT vs. XLVI - Expense Ratio Comparison

VHT has a 0.09% expense ratio, which is lower than XLVI's 0.35% expense ratio.

Dividends

VHT vs. XLVI - Dividend Comparison

VHT's dividend yield for the trailing twelve months is around 1.71%, less than XLVI's 11.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VHT Vanguard Health Care ETF	1.71%	1.61%	1.53%	1.36%	1.33%	1.14%	1.21%	1.89%	1.38%	1.31%	1.45%	1.22%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.53%	5.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VHT and XLVI in my portfolio?

With a correlation of 0.95, VHT and XLVI 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, VHT or XLVI?

On fees, VHT is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VHT or XLVI?

VHT is cheaper with a 0.09% expense ratio, compared with 0.35% for XLVI.

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

XLVI has the higher dividend yield at 11.53%, compared with 1.71% for VHT.

What is the main difference between VHT and XLVI?

VHT is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.09% for VHT and 0.35% for XLVI.