XHS vs. CANC

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P Health Care Services ETF (XHS) and Tema Oncology ETF (CANC).

XHS and CANC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XHS is a passively managed fund by State Street that tracks the performance of the S&P Health Care Services Select Industry Index. It was launched on Sep 28, 2011. CANC is an actively managed fund by Tema. It was launched on Aug 14, 2023.

Performance

XHS vs. CANC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Health Care Services ETF (XHS) and Tema Oncology ETF (CANC). The values are adjusted to include any dividend payments, if applicable.

XHS vs. CANC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XHS SPDR S&P Health Care Services ETF	-6.26%	18.83%	1.76%	5.15%	-19.87%	1.84%
CANC Tema Oncology ETF	5.69%	42.92%	-5.37%	510.51%	-85.34%	-51.82%

Returns By Period

In the year-to-date period, XHS achieves a -6.26% return, which is significantly lower than CANC's 5.69% return.

XHS

• 1D: 1.87%
• 1M: -7.51%
• YTD: -6.26%
• 6M: -1.26%
• 1Y: 2.34%
• 3Y*: 5.33%
• 5Y*: -1.07%
• 10Y*: 6.53%

CANC

• 1D: 4.66%
• 1M: -2.88%
• YTD: 5.69%
• 6M: 27.93%
• 1Y: 52.46%
• 3Y*: 140.00%
• 5Y*: —
• 10Y*: —

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

XHS vs. CANC - Expense Ratio Comparison

XHS has a 0.35% expense ratio, which is lower than CANC's 0.75% expense ratio.

CANC

Tema Oncology ETF

XHS

SPDR S&P Health Care Services ETF

Return for Risk

XHS vs. CANC — Risk / Return Rank

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

XHS

XHS Risk / Return Rank: 16
XHS Sharpe Ratio Rank: 15
XHS Sortino Ratio Rank: 15
XHS Omega Ratio Rank: 15
XHS Calmar Ratio Rank: 17
XHS Martin Ratio Rank: 18

CANC

CANC Risk / Return Rank: 90
CANC Sharpe Ratio Rank: 89
CANC Sortino Ratio Rank: 90
CANC Omega Ratio Rank: 82
CANC Calmar Ratio Rank: 94
CANC Martin Ratio Rank: 93

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.

XHS vs. CANC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Health Care Services ETF (XHS) and Tema Oncology ETF (CANC). 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.

	XHS	CANC	Difference
Sharpe ratio Return per unit of total volatility	0.12	1.94	-1.82
Sortino ratio Return per unit of downside risk	0.30	2.59	-2.29
Omega ratio Gain probability vs. loss probability	1.04	1.32	-0.29
Calmar ratio Return relative to maximum drawdown	0.25	3.86	-3.61
Martin ratio Return relative to average drawdown	0.68	13.76	-13.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XHS vs. CANC - Sharpe Ratio Comparison

The current XHS Sharpe Ratio is 0.12, which is lower than the CANC Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of XHS and CANC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XHS	CANC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	1.94	-1.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	-0.04	+0.56

Correlation

The correlation between XHS and CANC is 0.39, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

XHS vs. CANC - Dividend Comparison

XHS's dividend yield for the trailing twelve months is around 0.29%, more than CANC's 0.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
XHS SPDR S&P Health Care Services ETF	0.29%	0.27%	0.38%	0.23%	0.19%	0.20%	0.23%	2.37%	0.34%	0.22%	0.28%	0.93%
CANC Tema Oncology ETF	0.05%	0.06%	3.00%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

XHS vs. CANC - Drawdown Comparison

The maximum XHS drawdown since its inception was -39.32%, smaller than the maximum CANC drawdown of -97.53%. Use the drawdown chart below to compare losses from any high point for XHS and CANC.

Drawdown Indicators

	XHS	CANC	Difference
Max Drawdown Largest peak-to-trough decline	-39.32%	-97.53%	+58.21%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-12.40%	-0.21%
Max Drawdown (5Y) Largest decline over 5 years	-32.62%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.32%	—	—
Current Drawdown Current decline from peak	-12.33%	-56.19%	+43.86%
Average Drawdown Average peak-to-trough decline	-10.27%	-73.91%	+63.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	3.61%	+0.92%

Volatility

XHS vs. CANC - Volatility Comparison

The current volatility for SPDR S&P Health Care Services ETF (XHS) is 4.98%, while Tema Oncology ETF (CANC) has a volatility of 8.36%. This indicates that XHS experiences smaller price fluctuations and is considered to be less risky than CANC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XHS	CANC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	8.36%	-3.38%
Volatility (6M) Calculated over the trailing 6-month period	12.45%	16.34%	-3.89%
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	27.24%	-7.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.05%	285.66%	-264.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	285.66%	-263.25%