XHE vs. UNHW

Last updated Jun 3, 2026

XHE (SPDR S&P Health Care Equipment ETF) and UNHW (Roundhill UNH WeeklyPay ETF) are both exchange-traded funds - XHE is a Health & Biotech Equities fund tracking the S&P Health Care Equipment Select Industry Index, while UNHW is a Leveraged Equities fund actively managed by Roundhill Investments. XHE is passively managed, while UNHW is actively managed. At a 0.17 correlation, their price movements are largely independent. XHE charges 0.35%/yr vs 0.99%/yr for UNHW.

Performance

XHE vs. UNHW - Performance Comparison

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

Returns By Period

In the year-to-date period, XHE achieves a -11.59% return, which is significantly lower than UNHW's 15.01% return.

XHE

• 1D: -0.95%
• 1M: -4.49%
• YTD: -11.59%
• 6M: -10.52%
• 1Y: -2.63%
• 3Y*: -6.57%
• 5Y*: -8.01%
• 10Y*: 5.72%

UNHW

• 1D: -0.71%
• 1M: 2.46%
• YTD: 15.01%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XHE vs. UNHW - Yearly Performance Comparison

	2026 (YTD)	2025
XHE SPDR S&P Health Care Equipment ETF	-11.59%	0.10%
UNHW Roundhill UNH WeeklyPay ETF	15.01%	-3.02%

Correlation

The correlation between XHE and UNHW is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 4, 2025	0.17

XHE vs. UNHW - Sectors Allocation Comparison

Sectors	XHE	UNHW
Healthcare	98.4%	33.4%
Industrials	1.7%	-
Financial Services	1.6%	-
Communication Services	1.4%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XHE vs. UNHW — Risk / Return Rank

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

XHE

XHE Risk / Return Rank: 7
XHE Sharpe Ratio Rank: 7
XHE Sortino Ratio Rank: 7
XHE Omega Ratio Rank: 7
XHE Calmar Ratio Rank: 7
XHE Martin Ratio Rank: 6

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. UNHW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Health Care Equipment ETF (XHE) and Roundhill UNH WeeklyPay ETF (UNHW). 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.

	XHE	UNHW	Difference
Sharpe ratio Return per unit of total volatility	-0.12	—	—
Sortino ratio Return per unit of downside risk	-0.03	—	—
Omega ratio Gain probability vs. loss probability	1.00	—	—
Calmar ratio Return relative to maximum drawdown	-0.21	—	—
Martin ratio Return relative to average drawdown	-0.48	—	—
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

	XHE	UNHW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.50	-0.10

Drawdowns

XHE vs. UNHW - Drawdown Comparison

The maximum XHE drawdown since its inception was -49.92%, which is greater than UNHW's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for XHE and UNHW.

Drawdown Indicators

	XHE	UNHW	Difference
Max Drawdown Largest peak-to-trough decline	-49.92%	-32.28%	-17.64%
Max Drawdown (1Y) Largest decline over 1 year	-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	-41.39%	-7.11%	-34.28%
Average Drawdown Average peak-to-trough decline	-13.26%	-12.53%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.00%	—	—

Volatility

Volatility by Period

	XHE	UNHW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	15.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.39%	50.01%	-28.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.40%	50.01%	-25.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.93%	50.01%	-27.08%

XHE vs. UNHW - Expense Ratio Comparison

XHE has a 0.35% expense ratio, which is lower than UNHW's 0.99% expense ratio.

Dividends

XHE vs. UNHW - Dividend Comparison

XHE's dividend yield for the trailing twelve months is around 0.09%, less than UNHW's 17.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
UNHW Roundhill UNH WeeklyPay ETF	17.34%	2.81%	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	0.09%	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 UNHW in my portfolio?

XHE and UNHW have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XHE or UNHW?

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

Which ETF is cheaper, XHE or UNHW?

XHE is cheaper with a 0.35% expense ratio, compared with 0.99% for UNHW.

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

UNHW has the higher dividend yield at 17.34%, compared with 0.09% for XHE.

What is the main difference between XHE and UNHW?

XHE is categorized as Health & Biotech Equities, while UNHW is Leveraged Equities. They also come from different issuers: State Street and Roundhill Investments. Their fees differ too: 0.35% for XHE and 0.99% for UNHW.