XHE vs. ARKG

Last updated Aug 4, 2026

XHE (SPDR S&P Health Care Equipment ETF) and ARKG (ARK Genomic Revolution Multi-Sector ETF) are both Health & Biotech Equities funds. XHE is passively managed, while ARKG is actively managed. Over the past 10 years, XHE returned 6.33%/yr vs 8.21%/yr for ARKG. Their 0.70 correlation means they have sometimes moved together and sometimes differently. XHE charges 0.35%/yr vs 0.75%/yr for ARKG.

Performance

XHE vs. ARKG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Health Care Equipment ETF (XHE) and ARK Genomic Revolution Multi-Sector ETF (ARKG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XHE achieves a 5.60% return, which is significantly lower than ARKG's 36.76% return. Over the past 10 years, XHE has underperformed ARKG with an annualized return of 6.33%, while ARKG has yielded a comparatively higher 8.21% annualized return.

XHE

• 1D: 4.05%
• 1M: 6.04%
• 6M: 7.88%
• YTD: 5.60%
• 1Y: 21.90%
• 3Y*: -0.09%
• 5Y*: -6.21%
• 10Y*: 6.33%
• ALL TIME*: 9.68%

ARKG

• 1D: 2.75%
• 1M: -7.67%
• 6M: 29.39%
• YTD: 36.76%
• 1Y: 68.17%
• 3Y*: 5.24%
• 5Y*: -14.10%
• 10Y*: 8.21%
• ALL TIME*: 6.43%

*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)
ARKG ARK Genomic Revolution Multi-Sector ETF	$89.48M	$114.37M	$122.55M
XHE SPDR S&P Health Care Equipment ETF	$2.26M	$2.20M	$2.39M

XHE vs. ARKG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XHE SPDR S&P Health Care Equipment ETF	5.60%	-0.23%	5.08%	-6.23%	-23.34%	3.04%	32.91%	22.30%	8.90%	30.51%
ARKG ARK Genomic Revolution Multi-Sector ETF	36.76%	23.04%	-28.24%	16.22%	-53.90%	-33.92%	180.40%	44.00%	-1.26%	46.61%

Correlation

The correlation between XHE and ARKG is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.65
Correlation (5Y) Shows whether the relationship held over a longer period.	0.73
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Oct 31, 2014	0.70

The correlation between XHE and ARKG shifts across timeframes, from 0.55 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.

XHE vs. ARKG - Sectors Allocation Comparison

Sectors	XHE	ARKG
Healthcare	98.8%	97.3%
Technology	1.7%	2.0%
Industrials	1.7%	-
Communication Services	1.5%	-
Financial Services	1.2%	0.9%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XHE vs. ARKG — Risk / Return Rank

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

XHE

XHE Risk / Return Rank: 35
XHE Sharpe Ratio Rank: 38
XHE Sortino Ratio Rank: 40
XHE Omega Ratio Rank: 35
XHE Calmar Ratio Rank: 35
XHE Martin Ratio Rank: 29

ARKG

ARKG Risk / Return Rank: 63
ARKG Sharpe Ratio Rank: 68
ARKG Sortino Ratio Rank: 69
ARKG Omega Ratio Rank: 59
ARKG Calmar Ratio Rank: 70
ARKG Martin Ratio Rank: 50

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.

XHE vs. ARKG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Health Care Equipment ETF (XHE) and ARK Genomic Revolution Multi-Sector ETF (ARKG). 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.

	XHE	ARKG	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.59	-0.63
Sortino ratio: Return per unit of downside risk	1.52	2.30	-0.78
Omega ratio: Gain probability vs. loss probability	1.17	1.26	-0.09
Calmar ratio: Return relative to maximum drawdown	1.20	2.49	-1.29
Martin ratio: Return relative to average drawdown	2.55	5.96	-3.41

XHE vs. ARKG - Sharpe Ratio Comparison

The current XHE Sharpe Ratio is 0.96, which is lower than the ARKG Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of XHE and ARKG, 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

XHE vs. ARKG - Drawdown Comparison

The maximum XHE drawdown since its inception was -49.92%, smaller than the maximum ARKG drawdown of -83.59%. Use the drawdown chart below to compare losses from any high point for XHE and ARKG.

Drawdown Indicators

	XHE	ARKG	Difference
Max Drawdown Largest peak-to-trough decline	-49.92%	-83.59%	+33.67%
Max Drawdown (1Y) Largest decline over 1 year	-18.29%	-27.51%	+9.22%
Max Drawdown (3Y) Largest decline over 3 years	-28.66%	-46.45%	+17.79%
Max Drawdown (5Y) Largest decline over 5 years	-49.92%	-79.26%	+29.34%
Max Drawdown (10Y) Largest decline over 10 years	-49.92%	-83.59%	+33.67%
Current Drawdown Current decline from peak	-29.99%	-64.55%	+34.56%
Average Drawdown Average peak-to-trough decline	-13.50%	-36.28%	+22.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.61%	11.47%	-2.86%

Volatility

XHE vs. ARKG - Volatility Comparison

The current volatility for SPDR S&P Health Care Equipment ETF (XHE) is 8.23%, while ARK Genomic Revolution Multi-Sector ETF (ARKG) has a volatility of 10.89%. This indicates that XHE experiences smaller price fluctuations and is considered to be less risky than ARKG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHE	ARKG	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.23%	10.89%	-2.66%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	31.22%	-13.15%
Volatility (1Y) Calculated over the trailing 1-year period	23.01%	43.14%	-20.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.83%	46.21%	-21.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.14%	41.45%	-18.31%

XHE vs. ARKG - Expense Ratio Comparison

XHE has a 0.35% expense ratio, which is lower than ARKG's 0.75% expense ratio.

Dividends

XHE vs. ARKG - Dividend Comparison

XHE's dividend yield for the trailing twelve months is around 0.06%, while ARKG has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKG ARK Genomic Revolution Multi-Sector ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.62%	0.85%	3.14%	0.82%	1.34%	0.00%	0.00%
XHE SPDR S&P Health Care Equipment ETF	0.06%	0.08%	0.04%	0.03%	0.04%	0.00%	0.00%	0.05%	0.09%	0.78%	0.17%	7.22%

Frequently Asked Questions

Can I hold both XHE and ARKG in my portfolio?

XHE and ARKG have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XHE or ARKG?

ARKG has higher volatility (10.89%) compared to XHE (8.23%). In terms of maximum drawdown, XHE dropped -49.92% vs ARKG's -83.59%.

Which ETF is better, XHE or ARKG?

On 10-year performance, ARKG leads with 8.21% vs 6.33% for XHE. On fees, XHE is cheaper at 0.35% per year. On volatility, XHE has been the lower-risk option at 8.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHE or ARKG?

Over the 10-year period, ARKG has performed better with a 8.21% return vs 6.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHE or ARKG?

XHE is cheaper with a 0.35% expense ratio, compared with 0.75% for ARKG.

Which ETF pays a higher dividend yield, XHE or ARKG?

XHE has the higher dividend yield at 0.06%, compared with 0.00% for ARKG.

What is the main difference between XHE and ARKG?

They also come from different issuers: State Street and ARK. Their fees differ too: 0.35% for XHE and 0.75% for ARKG.

Which has better risk-adjusted returns?

ARKG currently has the higher Sharpe Ratio (1.59 vs 0.96), 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.