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XLV vs. IYH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLV vs. IYH

Last updated Jun 5, 2026

XLV (State Street Health Care Select Sector SPDR ETF) and IYH (iShares U.S. Healthcare ETF) are both Health & Biotech Equities funds - XLV tracks the Health Care Select Sector Index while IYH tracks the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, XLV returned 9.48%/yr vs 9.20%/yr for IYH. Their correlation of 0.90 suggests significant overlap in exposure. XLV charges 0.08%/yr vs 0.43%/yr for IYH.

Performance

XLV vs. IYH - 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 U.S. Healthcare ETF (IYH). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, XLV achieves a -1.35% return, which is significantly higher than IYH's -1.42% return. Both investments have delivered pretty close results over the past 10 years, with XLV having a 9.48% annualized return and IYH not far behind at 9.20%.

XLV

1D
3.07%
1M
4.67%
YTD
-1.35%
6M
-0.35%
1Y
16.13%
3Y*
6.92%
5Y*
6.19%
10Y*
9.48%

IYH

1D
2.89%
1M
4.56%
YTD
-1.42%
6M
-1.04%
1Y
16.06%
3Y*
6.36%
5Y*
5.19%
10Y*
9.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XLV vs. IYH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLV
State Street Health Care Select Sector SPDR ETF		-1.35%14.50%2.47%2.07%-2.08%26.04%13.30%20.45%6.28%21.77%
IYH
iShares U.S. Healthcare ETF		-1.42%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%

Correlation

The correlation between XLV and IYH is 0.99 - 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

0.99

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

0.99

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

0.99

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

0.99

Correlation (All Time)
Calculated using the full available price history since Jun 19, 2000

0.90

The correlation between XLV and IYH has been stable across timeframes, ranging from 0.90 to 0.99 - a consistent structural relationship.

XLV vs. IYH - Sectors Allocation Comparison

Sectors
XLV
IYH

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%
IYH
100.0%

Basic Materials

XLV

-

IYH

-

Communication Services

XLV

-

IYH

-

Consumer Cyclical

XLV

-

IYH

-

Consumer Defensive

XLV

-

IYH

-

Energy

XLV

-

IYH

-

Financial Services

XLV

-

IYH

-

Industrials

XLV

-

IYH

-

Real Estate

XLV

-

IYH

-

Technology

XLV

-

IYH

-

Utilities

XLV

-

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 Health Care Select Sector SPDR ETF

iShares U.S. Healthcare ETF

Often compared with XLV:
XLV vs. VHTXLV vs. SPYXLV vs. XLFXLV vs. IXJXLV vs. VOOXLV vs. FHLCXLV vs. IHI
Often compared with IYH:
IYH vs. VHTIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. IBBIYH vs. MLPX

Return for Risk

XLV vs. IYH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLV
XLV Risk / Return Rank: 3131
Overall Rank
XLV Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
XLV Sortino Ratio Rank: 3434
Sortino Ratio Rank
XLV Omega Ratio Rank: 2929
Omega Ratio Rank
XLV Calmar Ratio Rank: 3232
Calmar Ratio Rank
XLV Martin Ratio Rank: 2727
Martin Ratio Rank
IYH
IYH Risk / Return Rank: 3030
Overall Rank
IYH Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3333
Sortino Ratio Rank
IYH Omega Ratio Rank: 2929
Omega Ratio Rank
IYH Calmar Ratio Rank: 3232
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.

XLV vs. IYH - 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 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.

XLVIYHDifference
Sharpe ratioReturn per unit of total volatility
1.08
1.07

+0.01

Sortino ratioReturn per unit of downside risk
1.72
1.71

+0.01

Omega ratioGain probability vs. loss probability

1.19

1.19

0.00

Calmar ratioReturn relative to maximum drawdown

1.55

1.52

+0.03

Martin ratioReturn relative to average drawdown

3.73

3.64

+0.09

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLV vs. IYH - Sharpe Ratio Comparison

The current XLV Sharpe Ratio is 1.08, which is comparable to the IYH Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of XLV 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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Sharpe Ratios by Period

XLVIYHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.08

1.07

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

0.35

+0.07

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.55

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.43

+0.03

Drawdowns

XLV vs. IYH - Drawdown Comparison

The maximum XLV drawdown since its inception was -39.17%, smaller than the maximum IYH drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for XLV and IYH.

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Drawdown Indicators

XLVIYHDifference

Max Drawdown

Largest peak-to-trough decline

-39.17%

-43.12%

+3.95%

Max Drawdown (1Y)

Largest decline over 1 year

-10.47%

-10.64%

+0.17%

Max Drawdown (3Y)

Largest decline over 3 years

-17.11%

-17.91%

+0.80%

Max Drawdown (5Y)

Largest decline over 5 years

-17.11%

-17.91%

+0.80%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

-28.40%

0.00%

Current Drawdown

Current decline from peak

-4.68%

-4.68%

0.00%

Average Drawdown

Average peak-to-trough decline

-7.12%

-8.96%

+1.84%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.33%

4.42%

-0.09%

Volatility

XLV vs. IYH - Volatility Comparison

State Street Health Care Select Sector SPDR ETF (XLV) and iShares U.S. Healthcare ETF (IYH) have volatilities of 5.04% 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

XLVIYHDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.04%

5.06%

-0.02%

Volatility (6M)

Calculated over the trailing 6-month period

10.67%

10.70%

-0.03%

Volatility (1Y)

Calculated over the trailing 1-year period

14.97%

15.01%

-0.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.76%

14.97%

-0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.57%

16.74%

-0.17%

XLV vs. IYH - Expense Ratio Comparison

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

Dividends

XLV vs. IYH - Dividend Comparison

XLV's dividend yield for the trailing twelve months is around 1.65%, more than IYH's 1.26% yield.

PositionTTM20252024202320222021202020192018201720162015
IYH
iShares U.S. Healthcare ETF		1.26%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%
XLV
State Street Health Care Select Sector SPDR ETF		1.65%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 0.99, XLV and IYH 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.

IYH has higher volatility (5.06%) compared to XLV (5.04%). In terms of maximum drawdown, XLV dropped -39.17% vs IYH's -43.12%.

On 10-year performance, XLV leads with 9.48% vs 9.20% for IYH. On fees, XLV is cheaper at 0.08% per year. Their volatility is very similar. 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 9.48% return vs 9.20%. 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 0.43% for IYH.

XLV has the higher dividend yield at 1.65%, compared with 1.26% for IYH.

XLV tracks Health Care Select Sector 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 XLV and 0.43% for IYH.

XLV currently has the higher Sharpe Ratio (1.08 vs 1.07), 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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