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XLV vs. AVDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLV vs. AVDV

Last updated Jun 13, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - XLV is a Health & Biotech Equities fund tracking the Health Care Select Sector Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. XLV is passively managed, while AVDV is actively managed. Over the past 5 years, XLV returned 6.00%/yr vs 13.63%/yr for AVDV. At a 0.49 correlation, their price movements are largely independent. XLV charges 0.08%/yr vs 0.36%/yr for AVDV.

Performance

XLV vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR ETF (XLV) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLV achieves a -0.23% return, which is significantly lower than AVDV's 14.99% return.

XLV

1D
-0.18%
1M
4.90%
YTD
-0.23%
6M
0.67%
1Y
15.00%
3Y*
7.12%
5Y*
6.00%
10Y*
9.81%

AVDV

1D
0.89%
1M
-1.99%
YTD
14.99%
6M
17.18%
1Y
41.91%
3Y*
26.72%
5Y*
13.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLV vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
XLV
State Street Health Care Select Sector SPDR ETF		-0.23%14.50%2.47%2.07%-2.08%26.04%13.30%14.09%
AVDV
Avantis International Small Cap Value ETF		14.99%49.37%8.67%16.85%-11.47%15.80%5.01%11.78%

Correlation

The correlation between XLV and AVDV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.37

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

0.36

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

0.44

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.49

The correlation between XLV and AVDV shifts across timeframes, from 0.36 (3 years) to 0.49 (all time), reflecting how their relationship changes across market environments.

XLV vs. AVDV - Sectors Allocation Comparison

Sectors
XLV
AVDV

Healthcare

100.0%
2.1%

Basic Materials

-

22.5%

Communication Services

-

2.0%

Consumer Cyclical

-

14.4%

Consumer Defensive

-

3.4%

Energy

-

10.8%

Financial Services

-

13.7%

Industrials

-

21.3%

Real Estate

-

1.1%

Technology

-

6.4%

Utilities

-

1.7%

Healthcare

XLV
100.0%
AVDV
2.1%

Basic Materials

XLV

-

AVDV
22.5%

Communication Services

XLV

-

AVDV
2.0%

Consumer Cyclical

XLV

-

AVDV
14.4%

Consumer Defensive

XLV

-

AVDV
3.4%

Energy

XLV

-

AVDV
10.8%

Financial Services

XLV

-

AVDV
13.7%

Industrials

XLV

-

AVDV
21.3%

Real Estate

XLV

-

AVDV
1.1%

Technology

XLV

-

AVDV
6.4%

Utilities

XLV

-

AVDV
1.7%

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 Health Care Select Sector SPDR ETF

Avantis International Small Cap Value ETF

Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

XLV vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLV
XLV Risk / Return Rank: 3030
Overall Rank
XLV Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3333
Sortino Ratio Rank
XLV Omega Ratio Rank: 2828
Omega Ratio Rank
XLV Calmar Ratio Rank: 3232
Calmar Ratio Rank
XLV Martin Ratio Rank: 2727
Martin Ratio Rank
AVDV
AVDV Risk / Return Rank: 8181
Overall Rank
AVDV Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8686
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8686
Omega Ratio Rank
AVDV Calmar Ratio Rank: 7171
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7676
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.

XLV vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR ETF (XLV) and Avantis International Small Cap Value ETF (AVDV). 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.

XLVAVDVDifference
Sharpe ratioReturn per unit of total volatility
0.97
2.53

-1.57

Sortino ratioReturn per unit of downside risk
1.55
3.36

-1.81

Omega ratioGain probability vs. loss probability

1.17

1.46

-0.28

Calmar ratioReturn relative to maximum drawdown

1.38

3.12

-1.73

Martin ratioReturn relative to average drawdown

3.31

12.44

-9.13

XLV vs. AVDV - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 0.97, which is lower than the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of XLV and AVDV, 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

XLV vs. AVDV - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, smaller than the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for XLV and AVDV.

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Drawdown Indicators

XLVAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-39.17%

-43.01%

+3.84%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-13.19%

+2.72%

Max Drawdown (3Y)

Largest decline over 3 years

-17.11%

-14.17%

-2.94%

Max Drawdown (5Y)

Largest decline over 5 years

-17.11%

-28.08%

+10.97%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

—

—

Current Drawdown

Current decline from peak

-3.59%

-2.24%

-1.35%

Average Drawdown

Average peak-to-trough decline

-7.12%

-6.76%

-0.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.37%

3.30%

+1.07%

Volatility

XLV vs. AVDV - Volatility Comparison

The current volatility for State Street Health Care Select Sector SPDR ETF (XLV) is 4.90%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.26%. This indicates that XLV experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLVAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.90%

6.26%

-1.36%

Volatility (6M)

Calculated over the trailing 6-month period

10.60%

13.88%

-3.28%

Volatility (1Y)

Calculated over the trailing 1-year period

15.03%

16.25%

-1.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.75%

17.41%

-2.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.58%

19.77%

-3.19%

XLV vs. AVDV - Expense Ratio Comparison

XLV has a 0.08% expense ratio, which is lower than AVDV's 0.36% expense ratio.

Dividends

XLV vs. AVDV - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.63%, less than AVDV's 4.11% yield.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		4.11%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
XLV
State Street Health Care Select Sector SPDR ETF		1.63%1.60%1.67%1.59%1.47%1.33%1.49%2.17%1.57%1.47%1.60%1.43%

Frequently Asked Questions

XLV and AVDV have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AVDV has higher volatility (6.26%) compared to XLV (4.90%). In terms of maximum drawdown, XLV dropped -39.17% vs AVDV's -43.01%.

On 5-year performance, AVDV leads with 13.63% vs 6.00% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, XLV has been the lower-risk option at 4.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, AVDV has performed better with a 13.63% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLV is cheaper with a 0.08% expense ratio, compared with 0.36% for AVDV.

AVDV has the higher dividend yield at 4.11%, compared with 1.63% for XLV.

XLV is categorized as Health & Biotech Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: State Street and Avantis. Their fees differ too: 0.08% for XLV and 0.36% for AVDV.

AVDV currently has the higher Sharpe Ratio (2.53 vs 0.97), 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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