XBI vs. XLVI

Last updated Jun 5, 2026

XBI (SPDR S&P Biotech ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - XBI is a Health & Biotech Equities fund tracking the S&P Biotechnology Select Industry Index, while XLVI is a Derivative Income fund actively managed by State Street. XBI is passively managed, while XLVI is actively managed. A 0.53 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

XBI vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Biotech ETF (XBI) 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, XBI achieves a 9.42% return, which is significantly higher than XLVI's 1.35% return.

XBI

• 1D: 2.77%
• 1M: -0.28%
• YTD: 9.42%
• 6M: 8.61%
• 1Y: 62.35%
• 3Y*: 15.65%
• 5Y*: 1.14%
• 10Y*: 8.53%

XLVI

• 1D: 2.03%
• 1M: 4.01%
• YTD: 1.35%
• 6M: 3.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XBI vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
XBI SPDR S&P Biotech ETF	9.42%	41.89%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	1.35%	12.79%

Correlation

The correlation between XBI and XLVI is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.53

XBI vs. XLVI - Sectors Allocation Comparison

Sectors	XBI	XLVI
Healthcare	99.8%	-
Financial Services	0.2%	100.6%
Basic Materials	0.2%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XBI vs. XLVI — Risk / Return Rank

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

XBI

XBI Risk / Return Rank: 80
XBI Sharpe Ratio Rank: 77
XBI Sortino Ratio Rank: 75
XBI Omega Ratio Rank: 67
XBI Calmar Ratio Rank: 93
XBI Martin Ratio Rank: 89

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.

XBI vs. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Biotech ETF (XBI) 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.

	XBI	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	2.45	—	—
Sortino ratio: Return per unit of downside risk	3.32	—	—
Omega ratio: Gain probability vs. loss probability	1.40	—	—
Calmar ratio: Return relative to maximum drawdown	6.45	—	—
Martin ratio: Return relative to average drawdown	19.53	—	—
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

	XBI	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	1.54	-1.18

Drawdowns

XBI vs. XLVI - Drawdown Comparison

The maximum XBI drawdown since its inception was -63.89%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for XBI and XLVI.

Drawdown Indicators

	XBI	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-63.89%	-8.14%	-55.75%
Max Drawdown (1Y) Largest decline over 1 year	-9.72%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-32.99%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-54.71%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-63.89%	—	—
Current Drawdown Current decline from peak	-22.89%	-2.08%	-20.81%
Average Drawdown Average peak-to-trough decline	-20.93%	-1.95%	-18.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	—	—

Volatility

Volatility by Period

	XBI	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.31%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.60%	11.12%	+14.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.20%	11.12%	+21.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.00%	11.12%	+20.88%

XBI vs. XLVI - Expense Ratio Comparison

Both XBI and XLVI have an expense ratio of 0.35%.

Dividends

XBI vs. XLVI - Dividend Comparison

XBI's dividend yield for the trailing twelve months is around 0.33%, less than XLVI's 11.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XBI SPDR S&P Biotech ETF	0.33%	0.37%	0.15%	0.02%	0.00%	0.04%	0.20%	0.00%	0.28%	0.24%	0.26%	0.61%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.30%	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 XBI and XLVI in my portfolio?

XBI and XLVI have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XBI or XLVI?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XBI or XLVI?

XBI and XLVI have the same expense ratio: 0.35% per year.

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

XLVI has the higher dividend yield at 11.30%, compared with 0.33% for XBI.

What is the main difference between XBI and XLVI?

XBI is categorized as Health & Biotech Equities, while XLVI is Derivative Income.