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XLV vs. IBRN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLV vs. IBRN

Last updated Jun 26, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and IBRN (iShares Neuroscience and Healthcare ETF) are both Health & Biotech Equities funds - XLV tracks the Health Care Select Sector Index while IBRN tracks the NYSE FactSet Global Neuro Biopharma and MedTech Index. Both are passively managed. Over the past 3 years, XLV returned 7.63%/yr vs 16.26%/yr for IBRN. A 0.54 correlation means they provide meaningful diversification when combined. XLV charges 0.08%/yr vs 0.47%/yr for IBRN.

Performance

XLV vs. IBRN - 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 iShares Neuroscience and Healthcare ETF (IBRN). 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 1.39% return, which is significantly lower than IBRN's 16.31% return.

XLV

1D
1.49%
1M
5.26%
YTD
1.39%
6M
0.74%
1Y
18.26%
3Y*
7.63%
5Y*
6.07%
10Y*
10.40%

IBRN

1D
0.73%
1M
7.02%
YTD
16.31%
6M
15.23%
1Y
70.73%
3Y*
16.26%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLV vs. IBRN - Yearly Performance Comparison

2026 (YTD)2025202420232022
XLV
State Street Health Care Select Sector SPDR ETF		1.39%14.50%2.47%2.07%4.59%
IBRN
iShares Neuroscience and Healthcare ETF		16.31%28.49%-2.78%0.92%2.87%

Correlation

The correlation between XLV and IBRN is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.50

Correlation (All Time)
Calculated using the full available price history since Aug 26, 2022

0.54

The correlation between XLV and IBRN has been stable across timeframes, ranging from 0.46 to 0.54 - a consistent structural relationship.

XLV vs. IBRN - Sectors Allocation Comparison

Sectors
XLV
IBRN

Healthcare

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

XLV
100.0%
IBRN
100.0%

Basic Materials

XLV

-

IBRN

-

Communication Services

XLV

-

IBRN

-

Consumer Cyclical

XLV

-

IBRN

-

Consumer Defensive

XLV

-

IBRN

-

Energy

XLV

-

IBRN

-

Financial Services

XLV

-

IBRN

-

Industrials

XLV

-

IBRN

-

Real Estate

XLV

-

IBRN

-

Technology

XLV

-

IBRN

-

Utilities

XLV

-

IBRN

-

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

iShares Neuroscience and Healthcare ETF

Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI
Often compared with IBRN:
IBRN vs. MEDIIBRN vs. IDNAIBRN vs. VOOIBRN vs. IHIIBRN vs. ACWIIBRN vs. SPYIBRN vs. SBIO

Return for Risk

XLV vs. IBRN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLV
XLV Risk / Return Rank: 3737
Overall Rank
XLV Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 4242
Sortino Ratio Rank
XLV Omega Ratio Rank: 3535
Omega Ratio Rank
XLV Calmar Ratio Rank: 3939
Calmar Ratio Rank
XLV Martin Ratio Rank: 3131
Martin Ratio Rank
IBRN
IBRN Risk / Return Rank: 9191
Overall Rank
IBRN Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
IBRN Sortino Ratio Rank: 9191
Sortino Ratio Rank
IBRN Omega Ratio Rank: 8383
Omega Ratio Rank
IBRN Calmar Ratio Rank: 9696
Calmar Ratio Rank
IBRN Martin Ratio Rank: 9494
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. IBRN - 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 iShares Neuroscience and Healthcare ETF (IBRN). 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.

XLVIBRNDifference
Sharpe ratioReturn per unit of total volatility
1.21
2.80

-1.59

Sortino ratioReturn per unit of downside risk
1.91
3.70

-1.79

Omega ratioGain probability vs. loss probability

1.21

1.43

-0.22

Calmar ratioReturn relative to maximum drawdown

1.75

8.08

-6.32

Martin ratioReturn relative to average drawdown

4.13

22.84

-18.70

XLV vs. IBRN - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 1.21, which is lower than the IBRN Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of XLV and IBRN, 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. IBRN - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, which is greater than IBRN's maximum drawdown of -35.38%. Use the drawdown chart below to compare losses from any high point for XLV and IBRN.

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Drawdown Indicators

XLVIBRNDifference

Max Drawdown

Largest peak-to-trough decline

-39.17%

-35.38%

-3.79%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-8.80%

-1.67%

Max Drawdown (3Y)

Largest decline over 3 years

-17.11%

-35.38%

+18.27%

Max Drawdown (5Y)

Largest decline over 5 years

-17.11%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

—

—

Current Drawdown

Current decline from peak

-2.02%

0.00%

-2.02%

Average Drawdown

Average peak-to-trough decline

-7.11%

-9.73%

+2.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.43%

3.11%

+1.32%

Volatility

XLV vs. IBRN - Volatility Comparison

The current volatility for State Street Health Care Select Sector SPDR ETF (XLV) is 5.25%, while iShares Neuroscience and Healthcare ETF (IBRN) has a volatility of 8.13%. This indicates that XLV experiences smaller price fluctuations and is considered to be less risky than IBRN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLVIBRNDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.25%

8.13%

-2.88%

Volatility (6M)

Calculated over the trailing 6-month period

10.76%

19.04%

-8.28%

Volatility (1Y)

Calculated over the trailing 1-year period

15.13%

25.41%

-10.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.79%

25.34%

-10.55%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.57%

25.34%

-8.77%

XLV vs. IBRN - Expense Ratio Comparison

XLV has a 0.08% expense ratio, which is lower than IBRN's 0.47% expense ratio.

Dividends

XLV vs. IBRN - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.63%, more than IBRN's 0.85% yield.

PositionTTM20252024202320222021202020192018201720162015
IBRN
iShares Neuroscience and Healthcare ETF		0.85%0.99%0.40%0.06%0.00%0.00%0.00%0.00%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 IBRN have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBRN has higher volatility (8.13%) compared to XLV (5.25%). In terms of maximum drawdown, XLV dropped -39.17% vs IBRN's -35.38%.

On 3-year performance, IBRN leads with 16.26% vs 7.63% for XLV. On fees, XLV is cheaper at 0.08% per year. On volatility, XLV has been the lower-risk option at 5.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IBRN has performed better with a 16.26% return vs 7.63%. 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 0.47% for IBRN.

XLV has the higher dividend yield at 1.63%, compared with 0.85% for IBRN.

XLV tracks Health Care Select Sector Index, while IBRN tracks NYSE FactSet Global Neuro Biopharma and MedTech Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLV and 0.47% for IBRN.

IBRN currently has the higher Sharpe Ratio (2.80 vs 1.21), 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.

Portfolio Optimizer

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