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XLK vs. IYH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLK vs. IYH

Last updated Jun 13, 2026

XLK (State Street Technology Select Sector SPDR ETF) and IYH (iShares U.S. Healthcare ETF) are both exchange-traded funds - XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index, while IYH is a Health & Biotech Equities fund tracking the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, XLK returned 25.19%/yr vs 9.52%/yr for IYH. A 0.56 correlation means they provide meaningful diversification when combined. XLK charges 0.08%/yr vs 0.43%/yr for IYH.

Performance

XLK vs. IYH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Technology Select Sector SPDR ETF (XLK) and iShares U.S. Healthcare ETF (IYH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLK achieves a 28.52% return, which is significantly higher than IYH's -0.65% return. Over the past 10 years, XLK has outperformed IYH with an annualized return of 25.19%, while IYH has yielded a comparatively lower 9.52% annualized return.

XLK

1D
0.87%
1M
4.50%
YTD
28.52%
6M
28.96%
1Y
53.24%
3Y*
30.28%
5Y*
22.02%
10Y*
25.19%

IYH

1D
-0.20%
1M
4.45%
YTD
-0.65%
6M
0.07%
1Y
14.13%
3Y*
6.45%
5Y*
4.89%
10Y*
9.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLK vs. IYH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLK
State Street Technology Select Sector SPDR ETF		28.52%24.61%21.63%56.02%-27.73%34.74%43.62%49.86%-1.68%34.26%
IYH
iShares U.S. Healthcare ETF		-0.65%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%

Correlation

The correlation between XLK and IYH is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

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

0.08

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

0.26

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

0.43

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

0.53

Correlation (All Time)
Calculated using the full available price history since Jun 16, 2000

0.56

Over the past year, the correlation between XLK and IYH has dropped to 0.08 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

XLK vs. IYH - Sectors Allocation Comparison

Sectors
XLK
IYH

Technology

99.7%

-

Energy

0.2%

-

Industrials

0.1%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

100.0%

Real Estate

-

-

Utilities

-

-

Technology

XLK
99.7%
IYH

-

Energy

XLK
0.2%
IYH

-

Industrials

XLK
0.1%
IYH

-

Basic Materials

XLK

-

IYH

-

Communication Services

XLK

-

IYH

-

Consumer Cyclical

XLK

-

IYH

-

Consumer Defensive

XLK

-

IYH

-

Financial Services

XLK

-

IYH

-

Healthcare

XLK

-

IYH
100.0%

Real Estate

XLK

-

IYH

-

Utilities

XLK

-

IYH

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

State Street Technology Select Sector SPDR ETF

iShares U.S. Healthcare ETF

Often compared with XLK:
XLK vs. QQQXLK vs. VGTXLK vs. SMHXLK vs. SPYXLK vs. FTECXLK vs. XLEXLK vs. IYW
Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. IBB

Return for Risk

XLK vs. IYH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLK
XLK Risk / Return Rank: 7676
Overall Rank
XLK Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
XLK Sortino Ratio Rank: 7676
Sortino Ratio Rank
XLK Omega Ratio Rank: 7878
Omega Ratio Rank
XLK Calmar Ratio Rank: 7575
Calmar Ratio Rank
XLK Martin Ratio Rank: 6868
Martin Ratio Rank
IYH
IYH Risk / Return Rank: 2929
Overall Rank
IYH Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3131
Sortino Ratio Rank
IYH Omega Ratio Rank: 2828
Omega Ratio Rank
IYH Calmar Ratio Rank: 3131
Calmar Ratio Rank
IYH Martin Ratio Rank: 2727
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.

XLK vs. IYH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) and iShares U.S. Healthcare ETF (IYH). 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.

XLKIYHDifference
Sharpe ratioReturn per unit of total volatility
2.37
0.94

+1.43

Sortino ratioReturn per unit of downside risk
2.92
1.52

+1.40

Omega ratioGain probability vs. loss probability

1.39

1.17

+0.22

Calmar ratioReturn relative to maximum drawdown

3.36

1.33

+2.03

Martin ratioReturn relative to average drawdown

10.85

3.18

+7.67

XLK vs. IYH - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 2.37, which is higher than the IYH Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of XLK and IYH, 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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Drawdowns

XLK vs. IYH - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than IYH's maximum drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for XLK and IYH.

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Drawdown Indicators

XLKIYHDifference

Max Drawdown

Largest peak-to-trough decline

-82.05%

-43.12%

-38.93%

Max Drawdown (1Y)

Largest decline over 1 year

-15.92%

-10.64%

-5.28%

Max Drawdown (3Y)

Largest decline over 3 years

-25.66%

-17.91%

-7.75%

Max Drawdown (5Y)

Largest decline over 5 years

-33.56%

-17.91%

-15.65%

Max Drawdown (10Y)

Largest decline over 10 years

-33.56%

-28.40%

-5.16%

Current Drawdown

Current decline from peak

-6.77%

-3.94%

-2.83%

Average Drawdown

Average peak-to-trough decline

-34.93%

-8.96%

-25.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.92%

4.46%

+0.46%

Volatility

XLK vs. IYH - Volatility Comparison

State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 10.86% compared to iShares U.S. Healthcare ETF (IYH) at 4.94%. This indicates that XLK's price experiences larger fluctuations and is considered to be riskier than IYH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLKIYHDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.86%

4.94%

+5.92%

Volatility (6M)

Calculated over the trailing 6-month period

18.92%

10.64%

+8.28%

Volatility (1Y)

Calculated over the trailing 1-year period

22.55%

15.10%

+7.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.18%

14.96%

+10.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.64%

16.74%

+7.90%

XLK vs. IYH - Expense Ratio Comparison

XLK has a 0.08% expense ratio, which is lower than IYH's 0.43% expense ratio.

Dividends

XLK vs. IYH - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.41%, less than IYH's 1.25% yield.

PositionTTM20252024202320222021202020192018201720162015
IYH
iShares U.S. Healthcare ETF		1.25%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%
XLK
State Street Technology Select Sector SPDR ETF		0.41%0.54%0.66%0.76%1.04%0.65%0.92%1.16%1.60%1.37%1.74%1.79%

Frequently Asked Questions

XLK and IYH have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

XLK has higher volatility (10.86%) compared to IYH (4.94%). In terms of maximum drawdown, XLK dropped -82.05% vs IYH's -43.12%.

On 10-year performance, XLK leads with 25.19% vs 9.52% for IYH. On fees, XLK is cheaper at 0.08% per year. On volatility, IYH has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XLK has performed better with a 25.19% return vs 9.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLK is cheaper with a 0.08% expense ratio, compared with 0.43% for IYH.

IYH has the higher dividend yield at 1.25%, compared with 0.41% for XLK.

XLK is categorized as Technology Equities, while IYH is Health & Biotech Equities. XLK tracks S&P Technology Select Sector Daily Capped 35/20 Index, while IYH tracks Dow Jones U.S. Health Care Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLK and 0.43% for IYH.

XLK currently has the higher Sharpe Ratio (2.37 vs 0.94), 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.

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