XLVI vs. DVXV

Last updated Jun 4, 2026

XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) and DVXV (WEBs Health Care XLV Defined Volatility ETF) are both exchange-traded funds - XLVI is a Derivative Income fund actively managed by State Street, while DVXV is a Health & Biotech Equities fund tracking the Syntax Defined Volatility XLV Index. XLVI is actively managed, while DVXV is passively managed. With a 0.96 correlation, they move nearly in lockstep. XLVI charges 0.35%/yr vs 0.89%/yr for DVXV.

Performance

XLVI vs. DVXV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) and WEBs Health Care XLV Defined Volatility ETF (DVXV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLVI achieves a -0.67% return, which is significantly higher than DVXV's -6.26% return.

XLVI

• 1D: 0.67%
• 1M: 2.30%
• YTD: -0.67%
• 6M: 0.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DVXV

• 1D: 1.22%
• 1M: 2.40%
• YTD: -6.26%
• 6M: -6.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XLVI vs. DVXV - Yearly Performance Comparison

	2026 (YTD)	2025
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	-0.67%	12.79%
DVXV WEBs Health Care XLV Defined Volatility ETF	-6.26%	23.55%

Correlation

The correlation between XLVI and DVXV 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 (All Time) Calculated using the full available price history since Jul 31, 2025	0.96

Return for Risk

XLVI vs. DVXV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Health Care Select Sector SPDR Premium Income ETF (XLVI) and WEBs Health Care XLV Defined Volatility ETF (DVXV). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XLVI	DVXV	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.33	0.75	+0.57

Drawdowns

XLVI vs. DVXV - Drawdown Comparison

The maximum XLVI drawdown since its inception was -8.14%, smaller than the maximum DVXV drawdown of -14.36%. Use the drawdown chart below to compare losses from any high point for XLVI and DVXV.

Drawdown Indicators

	XLVI	DVXV	Difference
Max Drawdown Largest peak-to-trough decline	-8.14%	-14.36%	+6.22%
Current Drawdown Current decline from peak	-4.02%	-10.72%	+6.70%
Average Drawdown Average peak-to-trough decline	-1.95%	-4.79%	+2.84%

Volatility

Volatility by Period

	XLVI	DVXV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.94%	21.33%	-10.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.94%	21.33%	-10.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.94%	21.33%	-10.39%

XLVI vs. DVXV - Expense Ratio Comparison

XLVI has a 0.35% expense ratio, which is lower than DVXV's 0.89% expense ratio.

Dividends

XLVI vs. DVXV - Dividend Comparison

XLVI's dividend yield for the trailing twelve months is around 11.53%, while DVXV has not paid dividends to shareholders.

Position	TTM	2025
DVXV WEBs Health Care XLV Defined Volatility ETF	0.00%	0.00%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.53%	5.73%

Frequently Asked Questions

Can I hold both XLVI and DVXV in my portfolio?

With a correlation of 0.96, XLVI and DVXV 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.

Which ETF is better, XLVI or DVXV?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLVI or DVXV?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.89% for DVXV.

Which ETF pays a higher dividend yield, XLVI or DVXV?

XLVI has the higher dividend yield at 11.53%, compared with 0.00% for DVXV.

What is the main difference between XLVI and DVXV?

XLVI is categorized as Derivative Income, while DVXV is Health & Biotech Equities. They also come from different issuers: State Street and WEBs. Their fees differ too: 0.35% for XLVI and 0.89% for DVXV.