XLV vs. MHIP
XLV (State Street Health Care Select Sector SPDR ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. XLV is passively managed, while MHIP is actively managed. A 0.64 correlation means they provide meaningful diversification when combined. XLV charges 0.08%/yr vs 0.55%/yr for MHIP.
Performance
XLV vs. MHIP - Performance Comparison
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Returns By Period
XLV
- 1D
- 2.22%
- 1M
- 6.26%
- 6M
- 3.96%
- YTD
- 5.41%
- 1Y
- 22.63%
- 3Y*
- 9.08%
- 5Y*
- 6.41%
- 10Y*
- 9.95%
MHIP
- 1D
- 0.60%
- 1M
- 0.71%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
XLV vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
XLV State Street Health Care Select Sector SPDR ETF | 10.24% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.14% |
Correlation
The correlation between XLV and MHIP is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.64 |
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Return for Risk
XLV vs. MHIP — Risk / Return Rank
XLV
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XLV vs. MHIP - 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 Milliman Healthcare Inflation Plus ETF (MHIP). 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.
| XLV | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.25 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | — | — |
| Martin ratioReturn relative to average drawdown | 5.14 | — | — |
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Drawdowns
XLV vs. MHIP - Drawdown Comparison
The maximum XLV drawdown since its inception was -39.17%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for XLV and MHIP.
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Drawdown Indicators
| XLV | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.17% | -3.09% | -36.08% |
Max Drawdown (1Y)Largest decline over 1 year | -10.47% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -17.11% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.11% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.40% | — | — |
Current DrawdownCurrent decline from peak | -1.61% | -1.47% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -1.28% | -5.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.42% | — | — |
Volatility
XLV vs. MHIP - Volatility Comparison
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Volatility by Period
| XLV | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.40% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.88% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.88% | 11.54% | +4.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 11.54% | +3.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.62% | 11.54% | +5.08% |
XLV vs. MHIP - Expense Ratio Comparison
XLV has a 0.08% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
XLV vs. MHIP - Dividend Comparison
XLV's dividend yield for the trailing twelve months is around 1.57%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHIP Milliman Healthcare Inflation Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 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 | 1.57% | 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 MHIP have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XLV is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XLV is cheaper with a 0.08% expense ratio, compared with 0.55% for MHIP.
XLV has the higher dividend yield at 1.57%, compared with 0.00% for MHIP.
They also come from different issuers: State Street and Milliman. Their fees differ too: 0.08% for XLV and 0.55% for MHIP.
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