XBI — State Street SPDR S&P Biotech ETF
Healthcare Ranked #106 of 458 tracked ETFs · Issued by State Street Investment Management
XBI Price Performance — Growth of $10,000
Value of a $10,000 investment in XBI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
XBI Drawdown
The "underwater" chart: XBI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in XBI?
See what a lump sum in XBI would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The State Street SPDR S&P Biotech ETF (XBI) is a healthcare-focused fund managed by State Street Investment Management with $10.4 billion in assets under management. It holds an overall grade of B, ranking 5th out of 11 peers in its category and 106th among 458 tracked ETFs across all sectors. The fund’s 0.35% expense ratio sits slightly below the category median of 0.36%, while its 0.39% dividend yield trails the sector median of 0.98%. Concentration risk is moderate, with the top 10 holdings accounting for 18.0% of assets and the largest position representing 5.9%.
XBI has delivered strong long-term gains, with a three-year return of 130.84% and a one-year return of 39.94%, significantly outpacing the category median of 24.88%. Short-term momentum has cooled, as the fund posted a 1-month decline of 4.17% and a 1-day drop of 1.38% despite a 1-week gain of 3.62%. Year-to-date performance stands at 23.18%, with the current price of $149.54 positioned at 68.0% of its 52-week range. The ETFValuer grade of B has remained unchanged over the last 35 tracked days, and price history is available for 3.0 years.
The fund exhibits high volatility at 29.02% annualized, accompanied by a beta of 1.09, indicating it moves slightly more than the broader market. A Sharpe ratio of 1.20 suggests favorable risk-adjusted returns relative to the recent price action, which has included a maximum drawdown of -32.99%. Liquidity is robust, supported by an average daily volume of 8,934,646 shares. These metrics collectively describe a fund that has experienced significant price swings but has generated substantial returns during the measured period.
AI-generated summary based on the data on this page.
XBI Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | State Street Global Advisors | 5.87% | $631M |
| 2 | Apogee Therapeutics Inc | 1.49% | $160M |
| 3 | Moderna Inc | 1.41% | $152M |
| 4 | Twist Bioscience Corp | 1.41% | $151M |
| 5 | Oruka Therapeutics Inc | 1.38% | $148M |
| 6 | Kymera Therapeutics Inc | 1.36% | $146M |
| 7 | Viking Therapeutics Inc | 1.30% | $140M |
| 8 | Praxis Precision Medicines Inc | 1.29% | $139M |
| 9 | Erasca Inc | 1.27% | $136M |
| 10 | Revolution Medicines Inc | 1.20% | $129M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 18.0% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how XBI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With XBI
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with XBI's top 10 — SPDW overlaps most, holding 1 of the same companies as XBI's top 10 (5.9% of XBI's assets).
| ETF | Name | Shared Companies | XBI Weight | Examples |
|---|---|---|---|---|
| SPDW | State Street SPDR Portfolio Developed World ex-US ETF | 1 | 5.9% | State Street Global Advisors |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 1 | 5.9% | State Street Global Advisors |
| SDY | State Street SPDR S&P Dividend ETF | 1 | 5.9% | State Street Global Advisors |
| KRE | State Street SPDR S&P Regional Banking ETF | 1 | 5.9% | State Street Global Advisors |
| JNK | State Street SPDR Bloomberg High Yield Bond ETF | 1 | 5.9% | State Street Global Advisors |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What XBI's Fees Cost You
XBI charges an expense ratio of 0.35% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
XBI Dividend Income Estimator
XBI currently yields 0.39%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
XBI Liquidity, Domicile & Tax Treatment
Liquidity: Average daily volume is 8.9M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $10.4B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: XBI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
XBI Performance History
| Period | Return |
|---|---|
| 1-Day | -1.38% |
| 1-Week | +3.62% |
| 1-Month | -4.17% |
| 3-Month | -0.70% |
| 6-Month | +12.31% |
| YTD | +23.18% |
| 1-Year | +39.94% |
| 3-Year | +130.84% |
How XBI Compares to Other Healthcare ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #31 | B+ |
XLV | State Street Health Care Select Sector SPDR ETF | +24.88% | 0.08% | $43.4B |
| #36 | B+ |
VHT | Vanguard Health Care Index Fund ETF Shares | +24.24% | 0.09% | $21.8B |
| #64 | B |
FHLC | Fidelity MSCI Health Care Index ETF | +24.43% | 0.084% | $3.54B |
| #100 | B |
IBB | iShares Biotechnology ETF | +35.23% | 0.44% | $11.2B |
| #106 | B |
XBI | State Street SPDR S&P Biotech ETF | +39.94% | 0.35% | $10.4B |
| #125 | B |
IYH | iShares U.S. Healthcare ETF | +24.20% | 0.37% | $3.96B |
| #140 | B |
PPH | VanEck Pharmaceutical ETF | +27.00% | 0.36% | $1.02B |
| #175 | B |
XPH | State Street SPDR S&P Pharmaceuticals ETF | +29.81% | 0.35% | $524M |
| #209 | C |
ARKG | ARK Genomic Revolution ETF | +57.54% | 0.75% | $2.22B |
| #297 | C |
IHF | iShares U.S. Healthcare Providers ETF | +19.55% | 0.37% | $1.36B |
| #424 | D |
IHI | iShares U.S. Medical Devices ETF | -11.17% | 0.37% | $3.45B |