XHE vs. GERM

Last updated Jun 24, 2026

XHE (SPDR S&P Health Care Equipment ETF) and GERM (Amplify Treatments, Testing and Advancements ETF) are both Health & Biotech Equities funds - XHE tracks the S&P Health Care Equipment Select Industry Index while GERM tracks the Prime Treatments, Testing and Advancements Index. Both are passively managed. Over the past year, XHE returned 2.70% vs 0.00% for GERM. XHE charges 0.35%/yr vs 0.68%/yr for GERM.

Performance

XHE vs. GERM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Health Care Equipment ETF (XHE) and Amplify Treatments, Testing and Advancements ETF (GERM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XHE

• 1D: 1.19%
• 1M: 0.26%
• YTD: -7.82%
• 6M: -9.00%
• 1Y: 2.70%
• 3Y*: -5.45%
• 5Y*: -8.83%
• 10Y*: 6.15%

GERM

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XHE vs. GERM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XHE SPDR S&P Health Care Equipment ETF	-7.82%	-0.23%	0.74%
GERM Amplify Treatments, Testing and Advancements ETF	0.00%	0.00%	0.00%

XHE vs. GERM - Sectors Allocation Comparison

Sectors	XHE	GERM
Healthcare	98.2%	99.3%
Financial Services	1.8%	0.4%
Industrials	1.7%	-
Communication Services	1.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XHE vs. GERM — Risk / Return Rank

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

XHE

XHE Risk / Return Rank: 10
XHE Sharpe Ratio Rank: 10
XHE Sortino Ratio Rank: 10
XHE Omega Ratio Rank: 10
XHE Calmar Ratio Rank: 10
XHE Martin Ratio Rank: 10

GERM

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

XHE vs. GERM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Health Care Equipment ETF (XHE) and Amplify Treatments, Testing and Advancements ETF (GERM). 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	GERM	Difference
Sharpe ratio: Return per unit of total volatility	0.12	—	—
Sortino ratio: Return per unit of downside risk	0.34	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.15	—	—
Martin ratio: Return relative to average drawdown	0.32	—	—

Drawdowns

XHE vs. GERM - Drawdown Comparison

The maximum XHE drawdown since its inception was -49.92%, which is greater than GERM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for XHE and GERM.

Drawdown Indicators

	XHE	GERM	Difference
Max Drawdown Largest peak-to-trough decline	-49.92%	0.00%	-49.92%
Max Drawdown (1Y) Largest decline over 1 year	-18.29%	0.00%	-18.29%
Max Drawdown (3Y) Largest decline over 3 years	-32.62%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.92%	—	—
Current Drawdown Current decline from peak	-38.89%	0.00%	-38.89%
Average Drawdown Average peak-to-trough decline	-13.35%	0.00%	-13.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.46%	0.00%	+8.46%

Volatility

XHE vs. GERM - Volatility Comparison

SPDR S&P Health Care Equipment ETF (XHE) has a higher volatility of 7.50% compared to Amplify Treatments, Testing and Advancements ETF (GERM) at 0.00%. This indicates that XHE's price experiences larger fluctuations and is considered to be riskier than GERM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHE	GERM	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	0.00%	+7.50%
Volatility (6M) Calculated over the trailing 6-month period	16.55%	0.00%	+16.55%
Volatility (1Y) Calculated over the trailing 1-year period	22.11%	0.00%	+22.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.56%	0.00%	+24.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.99%	0.00%	+22.99%

XHE vs. GERM - Expense Ratio Comparison

XHE has a 0.35% expense ratio, which is lower than GERM's 0.68% expense ratio.

Dividends

XHE vs. GERM - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GERM Amplify Treatments, Testing and Advancements ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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

Which is riskier, XHE or GERM?

XHE has higher volatility (7.50%) compared to GERM (0.00%). In terms of maximum drawdown, XHE dropped -49.92% vs GERM's 0.00%.

Which ETF is better, XHE or GERM?

On 1-year performance, XHE leads with 2.70% vs 0.00% for GERM. On fees, XHE is cheaper at 0.35% per year. On volatility, GERM has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XHE or GERM?

Over the 1-year period, XHE has performed better with a 2.70% return vs 0.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XHE or GERM?

XHE is cheaper with a 0.35% expense ratio, compared with 0.68% for GERM.

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

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

What is the main difference between XHE and GERM?

XHE tracks S&P Health Care Equipment Select Industry Index, while GERM tracks Prime Treatments, Testing and Advancements Index. They also come from different issuers: State Street and Amplify. Their fees differ too: 0.35% for XHE and 0.68% for GERM.