XPH — State Street SPDR S&P Pharmaceuticals ETF

XPH Price Performance — Growth of $10,000

Value of a $10,000 investment in XPH 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.

XPH Drawdown

The "underwater" chart: XPH'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.

Overview

The State Street SPDR S&P Pharmaceuticals ETF (XPH) operates within the Healthcare category, which ETFValuer tracks with a total of 11 funds. Issued by State Street Investment Management, this fund holds an overall rank of #122 out of 458 tracked ETFs across all categories and carries an ETFValuer grade of B with a score of 69.1 out of 100. The fund charges an expense ratio of 0.35% and offers a dividend yield of 0.35%. Trading at a price of $67.95, the ETF manages assets under management totaling $428 million. This asset size suggests a moderate level of investor adoption relative to the broader universe of tracked funds. The combination of its specific category positioning and overall ranking places it in the middle tier of the 458 funds monitored by the platform.

Recent performance data shows a decline over the shortest horizons, with a 1-day return of -0.79% and a 1-week return of -0.92%. However, the fund demonstrates significant strength over longer periods, posting a 1-month return of +5.43% and a year-to-date gain of +23.34%. The upward trajectory accelerates further in the medium term, with 3-month and 6-month returns reaching +18.91% and +18.40% respectively. Long-term results are particularly robust, as the fund has generated a 1-year return of +57.67% and a 3-year return of +61.00%. This pattern indicates a divergence where short-term volatility contrasts sharply with sustained long-term appreciation. The data reflects a fund that has delivered substantial gains over the past three years despite recent minor pullbacks.

The fund is assigned a High volatility label and exhibits a beta of 0.72, indicating that its price movements may be more erratic than the broader market despite a lower sensitivity to market swings. A Sharpe ratio of 2.33 suggests that the returns generated have been efficient relative to the amount of risk taken during the measurement period. Despite these positive risk-adjusted metrics, the fund has experienced a maximum drawdown of -23.57%, highlighting the potential for significant temporary losses. This combination of high volatility and a deep drawdown implies that while the fund has delivered strong returns, it subjects investors to periods of substantial price fluctuation. The low beta of 0.72 contrasts with the high volatility label, suggesting that the fund's specific movements are distinct from general market trends rather than simply mirroring them.

AI-generated summary based on the data on this page.

XPH Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 26.9% 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 XPH's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With XPH

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with XPH's top 10 — FDL overlaps most, holding 2 of the same companies as XPH's top 10 (4.0% of XPH's assets).

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: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

XPH Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 2.18% and average daily volume is 78K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $428M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: XPH 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.

XPH Performance History

How XPH Compares to Other Healthcare ETFs