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XLV vs. IXJ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLV vs. IXJ

Last updated Jun 24, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and IXJ (iShares Global Healthcare ETF) are both Health & Biotech Equities funds - XLV tracks the Health Care Select Sector Index while IXJ tracks the S&P Global 1200 Health Care (Sector) Capped Index. Both are passively managed. Over the past 10 years, XLV returned 10.01%/yr vs 8.54%/yr for IXJ. Their correlation of 0.88 suggests significant overlap in exposure. XLV charges 0.08%/yr vs 0.40%/yr for IXJ.

Performance

XLV vs. IXJ - 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 Global Healthcare ETF (IXJ). 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 -0.85% return, which is significantly higher than IXJ's -1.76% return. Over the past 10 years, XLV has outperformed IXJ with an annualized return of 10.01%, while IXJ has yielded a comparatively lower 8.54% annualized return.

XLV

1D
1.41%
1M
1.98%
YTD
-0.85%
6M
-0.97%
1Y
17.16%
3Y*
6.63%
5Y*
5.69%
10Y*
10.01%

IXJ

1D
1.45%
1M
0.89%
YTD
-1.76%
6M
-1.97%
1Y
13.71%
3Y*
5.44%
5Y*
4.16%
10Y*
8.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLV vs. IXJ - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLV
State Street Health Care Select Sector SPDR ETF		-0.85%14.50%2.47%2.07%-2.08%26.04%13.30%20.45%6.28%21.77%
IXJ
iShares Global Healthcare ETF		-1.76%14.99%0.55%3.62%-4.94%19.60%12.74%23.23%2.83%20.44%

Correlation

The correlation between XLV and IXJ is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

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

0.96

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

0.96

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

0.97

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

0.96

Correlation (All Time)
Calculated using the full available price history since Nov 26, 2001

0.88

The correlation between XLV and IXJ has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

XLV vs. IXJ - Sectors Allocation Comparison

Sectors
XLV
IXJ

Healthcare

100.0%
98.5%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

0.5%

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

XLV
100.0%
IXJ
98.5%

Basic Materials

XLV

-

IXJ

-

Communication Services

XLV

-

IXJ

-

Consumer Cyclical

XLV

-

IXJ

-

Consumer Defensive

XLV

-

IXJ
0.5%

Energy

XLV

-

IXJ

-

Financial Services

XLV

-

IXJ

-

Industrials

XLV

-

IXJ

-

Real Estate

XLV

-

IXJ

-

Technology

XLV

-

IXJ

-

Utilities

XLV

-

IXJ

-

Compare stocks, funds, or ETFs

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State Street Health Care Select Sector SPDR ETF

iShares Global Healthcare ETF

Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. VOOXLV vs. FHLCXLV vs. IHIXLV vs. IBB
Often compared with IXJ:
IXJ vs. VHTIXJ vs. IHIIXJ vs. XDWH.LIXJ vs. FHLCIXJ vs. IVVIXJ vs. HLTH.LIXJ vs. XT

Return for Risk

XLV vs. IXJ — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLV
XLV Risk / Return Rank: 3232
Overall Rank
XLV Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3636
Sortino Ratio Rank
XLV Omega Ratio Rank: 3131
Omega Ratio Rank
XLV Calmar Ratio Rank: 3434
Calmar Ratio Rank
XLV Martin Ratio Rank: 2929
Martin Ratio Rank
IXJ
IXJ Risk / Return Rank: 2626
Overall Rank
IXJ Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
IXJ Sortino Ratio Rank: 2828
Sortino Ratio Rank
IXJ Omega Ratio Rank: 2525
Omega Ratio Rank
IXJ Calmar Ratio Rank: 2727
Calmar Ratio Rank
IXJ Martin Ratio Rank: 2424
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. IXJ - 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 Global Healthcare ETF (IXJ). 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.

XLVIXJDifference
Sharpe ratioReturn per unit of total volatility
1.14
0.93

+0.22

Sortino ratioReturn per unit of downside risk
1.81
1.49

+0.32

Omega ratioGain probability vs. loss probability

1.20

1.17

+0.03

Calmar ratioReturn relative to maximum drawdown

1.65

1.28

+0.37

Martin ratioReturn relative to average drawdown

3.89

3.02

+0.87

XLV vs. IXJ - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 1.14, which is comparable to the IXJ Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of XLV and IXJ, 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. IXJ - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, roughly equal to the maximum IXJ drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for XLV and IXJ.

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Drawdown Indicators

XLVIXJDifference

Max Drawdown

Largest peak-to-trough decline

-39.17%

-40.60%

+1.43%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-10.78%

+0.31%

Max Drawdown (3Y)

Largest decline over 3 years

-17.11%

-18.14%

+1.03%

Max Drawdown (5Y)

Largest decline over 5 years

-17.11%

-18.14%

+1.03%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

-27.35%

-1.05%

Current Drawdown

Current decline from peak

-4.20%

-5.93%

+1.73%

Average Drawdown

Average peak-to-trough decline

-7.12%

-6.92%

-0.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.42%

4.56%

-0.14%

Volatility

XLV vs. IXJ - Volatility Comparison

State Street Health Care Select Sector SPDR ETF (XLV) and iShares Global Healthcare ETF (IXJ) have volatilities of 5.27% and 5.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XLVIXJDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.27%

5.06%

+0.21%

Volatility (6M)

Calculated over the trailing 6-month period

10.68%

10.49%

+0.19%

Volatility (1Y)

Calculated over the trailing 1-year period

15.09%

14.87%

+0.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.77%

14.28%

+0.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.57%

15.67%

+0.90%

XLV vs. IXJ - Expense Ratio Comparison

XLV has a 0.08% expense ratio, which is lower than IXJ's 0.40% expense ratio.

Dividends

XLV vs. IXJ - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.66%, more than IXJ's 1.52% yield.

PositionTTM20252024202320222021202020192018201720162015
IXJ
iShares Global Healthcare ETF		1.52%1.40%1.50%1.38%1.17%1.12%1.27%1.42%2.11%1.46%1.73%2.85%
XLV
State Street Health Care Select Sector SPDR ETF		1.66%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

With a correlation of 0.96, XLV and IXJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

XLV has higher volatility (5.27%) compared to IXJ (5.06%). In terms of maximum drawdown, XLV dropped -39.17% vs IXJ's -40.60%.

On 10-year performance, XLV leads with 10.01% vs 8.54% for IXJ. On fees, XLV is cheaper at 0.08% per year. On volatility, IXJ has been the lower-risk option at 5.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XLV has performed better with a 10.01% return vs 8.54%. 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 0.40% for IXJ.

XLV has the higher dividend yield at 1.66%, compared with 1.52% for IXJ.

XLV tracks Health Care Select Sector Index, while IXJ tracks S&P Global 1200 Health Care (Sector) Capped Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.08% for XLV and 0.40% for IXJ.

XLV currently has the higher Sharpe Ratio (1.14 vs 0.93), 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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