VHT vs. XLVI

Last updated Aug 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. Over the past year, VHT returned 27.80% vs 22.96% for XLVI. Their correlation of 0.94 means they have usually moved in the same direction. 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 6.55% return, which is significantly lower than XLVI's 6.89% return.

VHT

• 1D: -0.10%
• 1M: -1.26%
• 6M: 6.12%
• YTD: 6.55%
• 1Y: 27.80%
• 3Y*: 9.41%
• 5Y*: 4.81%
• 10Y*: 9.88%
• ALL TIME*: 9.91%

XLVI

• 1D: -0.20%
• 1M: 0.97%
• 6M: 6.00%
• YTD: 6.89%
• 1Y: 22.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VHT Vanguard Health Care ETF	$69.93M	$73.70M	$74.65M
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	$940.40K	$699.80K	$484.44K

VHT vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
VHT Vanguard Health Care ETF	6.55%	17.37%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	6.89%	12.41%

Correlation

The correlation between VHT and XLVI is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.94

The correlation between VHT and XLVI has been stable across timeframes, ranging from 0.94 to 0.94 - a consistent structural relationship.

VHT vs. XLVI - Sectors Allocation Comparison

Sectors	VHT	XLVI
Healthcare	99.2%	100.0%
Technology	0.4%	-
Financial Services	0.0%	100.6%
Industrials	0.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

VHT vs. XLVI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VHT

VHT Risk / Return Rank: 74
VHT Sharpe Ratio Rank: 79
VHT Sortino Ratio Rank: 85
VHT Omega Ratio Rank: 75
VHT Calmar Ratio Rank: 76
VHT Martin Ratio Rank: 55

XLVI

XLVI Risk / Return Rank: 80
XLVI Sharpe Ratio Rank: 85
XLVI Sortino Ratio Rank: 89
XLVI Omega Ratio Rank: 87
XLVI Calmar Ratio Rank: 75
XLVI Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	VHT	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.15	-0.31
Sortino ratio: Return per unit of downside risk	2.85	3.23	-0.38
Omega ratio: Gain probability vs. loss probability	1.32	1.41	-0.09
Calmar ratio: Return relative to maximum drawdown	2.68	2.83	-0.15
Martin ratio: Return relative to average drawdown	6.64	8.00	-1.36

VHT vs. XLVI - Sharpe Ratio Comparison

The current VHT Sharpe Ratio is 1.84, which is comparable to the XLVI Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of VHT and XLVI, 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

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%	-8.14%	-2.26%
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	-2.78%	-1.66%	-1.12%
Average Drawdown Average peak-to-trough decline	-5.96%	-1.78%	-4.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	2.88%	+1.32%

Volatility

VHT vs. XLVI - Volatility Comparison

Vanguard Health Care ETF (VHT) has a higher volatility of 4.92% compared to State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) at 3.36%. This indicates that VHT's price experiences larger fluctuations and is considered to be riskier than XLVI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHT	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	3.36%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	8.73%	+2.90%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	10.75%	+4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.25%	11.04%	+4.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.03%	11.04%	+5.99%

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 1.55%, less than XLVI's 12.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VHT Vanguard Health Care ETF	1.55%	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	12.76%	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 0.94, 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 is riskier, VHT or XLVI?

VHT has higher volatility (4.92%) compared to XLVI (3.36%). In terms of maximum drawdown, VHT dropped -39.12% vs XLVI's -8.14%.

Which ETF is better, VHT or XLVI?

On 1-year performance, VHT leads with 27.80% vs 22.96% for XLVI. On fees, VHT is cheaper at 0.09% per year. On volatility, XLVI has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VHT or XLVI?

Over the 1-year period, VHT has performed better with a 27.80% return vs 22.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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 12.76%, compared with 1.55% 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.

Which has better risk-adjusted returns?

XLVI currently has the higher Sharpe Ratio (2.15 vs 1.84), 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.