XBI vs. SPY
Compare and contrast key facts about SPDR S&P Biotech ETF (XBI) and State Street SPDR S&P 500 ETF (SPY).
XBI and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XBI is a passively managed fund by State Street that tracks the performance of the S&P Biotechnology Select Industry Index. It was launched on Feb 6, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both XBI and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
XBI vs. SPY - Performance Comparison
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XBI vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XBI SPDR S&P Biotech ETF | 4.76% | 35.89% | 1.01% | 7.60% | -25.87% | -20.45% | 48.33% | 32.56% | -15.28% | 43.77% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, XBI achieves a 4.76% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, XBI has underperformed SPY with an annualized return of 9.32%, while SPY has yielded a comparatively higher 13.98% annualized return.
XBI
- 1D
- 7.53%
- 1M
- 0.28%
- YTD
- 4.76%
- 6M
- 27.90%
- 1Y
- 58.08%
- 3Y*
- 19.00%
- 5Y*
- -1.29%
- 10Y*
- 9.32%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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XBI vs. SPY - Expense Ratio Comparison
XBI has a 0.35% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
XBI vs. SPY — Risk / Return Rank
XBI
SPY
XBI vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Biotech ETF (XBI) and State Street SPDR S&P 500 ETF (SPY). 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.
| XBI | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.02 | 0.93 | +1.09 |
Sortino ratioReturn per unit of downside risk | 2.70 | 1.45 | +1.25 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.22 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 3.72 | 1.53 | +2.20 |
Martin ratioReturn relative to average drawdown | 13.98 | 7.30 | +6.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| XBI | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 0.93 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.69 | -0.73 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.78 | -0.49 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.56 | -0.20 |
Correlation
The correlation between XBI and SPY is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
XBI vs. SPY - Dividend Comparison
XBI's dividend yield for the trailing twelve months is around 0.34%, less than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
XBI SPDR S&P Biotech ETF | 0.34% | 0.37% | 0.15% | 0.02% | 0.00% | 0.04% | 0.20% | 0.00% | 0.28% | 0.24% | 0.26% | 0.61% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
XBI vs. SPY - Drawdown Comparison
The maximum XBI drawdown since its inception was -63.89%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for XBI and SPY.
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Drawdown Indicators
| XBI | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.89% | -55.19% | -8.70% |
Max Drawdown (1Y)Largest decline over 1 year | -13.39% | -12.05% | -1.34% |
Max Drawdown (5Y)Largest decline over 5 years | -55.04% | -24.50% | -30.54% |
Max Drawdown (10Y)Largest decline over 10 years | -63.89% | -33.72% | -30.17% |
Current DrawdownCurrent decline from peak | -26.17% | -6.24% | -19.93% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -9.09% | -11.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 2.52% | +1.19% |
Volatility
XBI vs. SPY - Volatility Comparison
SPDR S&P Biotech ETF (XBI) has a higher volatility of 11.60% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that XBI's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XBI | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.60% | 5.31% | +6.29% |
Volatility (6M)Calculated over the trailing 6-month period | 19.25% | 9.47% | +9.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.24% | 19.05% | +10.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.23% | 17.06% | +15.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.15% | 17.92% | +14.23% |