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XHC.TO vs. XBI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XHC.TO vs. XBI

Last updated Jun 4, 2026

XHC.TO (iShares Global Healthcare Index ETF (CAD-Hedged)) and XBI (SPDR S&P Biotech ETF) are both Health & Biotech Equities funds - XHC.TO tracks the Morningstar Gbl GR CAD while XBI tracks the S&P Biotechnology Select Industry Index. Both are passively managed. Over the past 10 years, XHC.TO returned 6.87%/yr vs 9.31%/yr for XBI. A 0.52 correlation means they provide meaningful diversification when combined. XHC.TO charges 0.66%/yr vs 0.35%/yr for XBI.

Performance

XHC.TO vs. XBI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and SPDR S&P Biotech ETF (XBI). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XHC.TO is traded in CAD, while XBI is traded in USD. To make them comparable, the XBI values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XHC.TO achieves a -5.65% return, which is significantly lower than XBI's 7.83% return. Over the past 10 years, XHC.TO has underperformed XBI with an annualized return of 6.87%, while XBI has yielded a comparatively higher 9.31% annualized return.

XHC.TO

1D
0.59%
1M
0.77%
YTD
-5.65%
6M
-5.54%
1Y
7.72%
3Y*
2.70%
5Y*
3.54%
10Y*
6.87%

XBI

1D
2.04%
1M
-0.81%
YTD
7.83%
6M
6.51%
1Y
60.30%
3Y*
16.06%
5Y*
3.46%
10Y*
9.31%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XHC.TO vs. XBI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XHC.TO
iShares Global Healthcare Index ETF (CAD-Hedged)		-5.65%10.91%1.22%2.14%-3.56%21.32%8.71%22.47%2.20%16.84%
XBI
SPDR S&P Biotech ETF		7.83%29.66%9.68%5.23%-20.58%-21.17%45.82%26.05%-8.09%34.62%

Correlation

The correlation between XHC.TO and XBI is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.57

Correlation (3Y)
Calculated over the trailing 3-year period

0.52

Correlation (5Y)
Calculated over the trailing 5-year period

0.49

Correlation (10Y)
Calculated over the trailing 10-year period

0.51

Correlation (All Time)
Calculated using the full available price history since Apr 19, 2011

0.52

The correlation between XHC.TO and XBI has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

XHC.TO vs. XBI - Sectors Allocation Comparison

Sectors
XHC.TO
XBI

Healthcare

97.4%
99.8%

Consumer Defensive

0.5%

-

Basic Materials

-

0.2%

Communication Services

-

-

Consumer Cyclical

-

-

Energy

-

-

Financial Services

-

0.2%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

XHC.TO
97.4%
XBI
99.8%

Consumer Defensive

XHC.TO
0.5%
XBI

-

Basic Materials

XHC.TO

-

XBI
0.2%

Communication Services

XHC.TO

-

XBI

-

Consumer Cyclical

XHC.TO

-

XBI

-

Energy

XHC.TO

-

XBI

-

Financial Services

XHC.TO

-

XBI
0.2%

Industrials

XHC.TO

-

XBI

-

Real Estate

XHC.TO

-

XBI

-

Technology

XHC.TO

-

XBI

-

Utilities

XHC.TO

-

XBI

-

Compare stocks, funds, or ETFs

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iShares Global Healthcare Index ETF (CAD-Hedged)

SPDR S&P Biotech ETF

Often compared with XHC.TO:
XHC.TO vs. XLVXHC.TO vs. VHTXHC.TO vs. TDOCXHC.TO vs. LIFE.TOXHC.TO vs. XST.TOXHC.TO vs. IHIXHC.TO vs. ZUH.TO
Often compared with XBI:
XBI vs. IBBXBI vs. ARKGXBI vs. LABUXBI vs. BBHXBI vs. VOOXBI vs. IBBQXBI vs. FBIOX

Return for Risk

XHC.TO vs. XBI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XHC.TO
XHC.TO Risk / Return Rank: 1717
Overall Rank
XHC.TO Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
XHC.TO Sortino Ratio Rank: 1717
Sortino Ratio Rank
XHC.TO Omega Ratio Rank: 1616
Omega Ratio Rank
XHC.TO Calmar Ratio Rank: 1818
Calmar Ratio Rank
XHC.TO Martin Ratio Rank: 1717
Martin Ratio Rank
XBI
XBI Risk / Return Rank: 7474
Overall Rank
XBI Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
XBI Sortino Ratio Rank: 6767
Sortino Ratio Rank
XBI Omega Ratio Rank: 6060
Omega Ratio Rank
XBI Calmar Ratio Rank: 9191
Calmar Ratio Rank
XBI Martin Ratio Rank: 8585
Martin Ratio Rank
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.

XHC.TO vs. XBI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) and SPDR S&P Biotech ETF (XBI). 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.

XHC.TOXBIDifference
Sharpe ratioReturn per unit of total volatility
0.54
2.41

-1.87

Sortino ratioReturn per unit of downside risk
0.91
3.39

-2.48

Omega ratioGain probability vs. loss probability

1.10

1.39

-0.29

Calmar ratioReturn relative to maximum drawdown

0.72

6.52

-5.81

Martin ratioReturn relative to average drawdown

1.76

17.92

-16.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHC.TO vs. XBI - Sharpe Ratio Comparison

The current XHC.TO Sharpe Ratio is 0.54, which is lower than the XBI Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of XHC.TO and XBI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XHC.TOXBIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.54

2.41

-1.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.11

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.30

+0.14

Sharpe Ratio (All Time)

Calculated using the full available price history

0.67

0.49

+0.18

Drawdowns

XHC.TO vs. XBI - Drawdown Comparison

The maximum XHC.TO drawdown since its inception was -27.28%, smaller than the maximum XBI drawdown of -63.18%. Use the drawdown chart below to compare losses from any high point for XHC.TO and XBI.

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Drawdown Indicators

XHC.TOXBIDifference

Max Drawdown

Largest peak-to-trough decline

-27.28%

-63.18%

+35.90%

Max Drawdown (1Y)

Largest decline over 1 year

-10.79%

-9.29%

-1.50%

Max Drawdown (3Y)

Largest decline over 3 years

-18.81%

-31.26%

+12.45%

Max Drawdown (5Y)

Largest decline over 5 years

-18.81%

-52.61%

+33.80%

Max Drawdown (10Y)

Largest decline over 10 years

-27.28%

-63.18%

+35.90%

Current Drawdown

Current decline from peak

-9.76%

-18.13%

+8.37%

Average Drawdown

Average peak-to-trough decline

-4.85%

-20.38%

+15.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.39%

3.37%

+1.02%

Volatility

XHC.TO vs. XBI - Volatility Comparison

The current volatility for iShares Global Healthcare Index ETF (CAD-Hedged) (XHC.TO) is 4.76%, while SPDR S&P Biotech ETF (XBI) has a volatility of 9.12%. This indicates that XHC.TO experiences smaller price fluctuations and is considered to be less risky than XBI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XHC.TOXBIDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.76%

9.12%

-4.36%

Volatility (6M)

Calculated over the trailing 6-month period

10.21%

19.88%

-9.67%

Volatility (1Y)

Calculated over the trailing 1-year period

14.34%

25.15%

-10.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.87%

30.71%

-16.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.75%

30.76%

-15.01%

XHC.TO vs. XBI - Expense Ratio Comparison

XHC.TO has a 0.66% expense ratio, which is higher than XBI's 0.35% expense ratio.

Dividends

XHC.TO vs. XBI - Dividend Comparison

XHC.TO's dividend yield for the trailing twelve months is around 1.98%, more than XBI's 0.34% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XHC.TO
iShares Global Healthcare Index ETF (CAD-Hedged)		1.98%1.87%4.42%2.38%0.84%0.79%0.96%1.07%1.68%1.14%1.63%2.15%

Frequently Asked Questions

XHC.TO and XBI have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XBI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XBI is cheaper with a 0.35% expense ratio, compared with 0.66% for XHC.TO.

XHC.TO tracks Morningstar Gbl GR CAD, while XBI tracks S&P Biotechnology Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.66% for XHC.TO and 0.35% for XBI.

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