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) is a healthcare sector fund managed by State Street Investment Management with $428 million in assets under management. Currently priced at $68.70, the fund carries an expense ratio of 0.35% and offers a dividend yield of 0.35%. It holds an overall rank of #114 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of B with a score of 69.6/100. Within the healthcare category specifically, the fund is one of 11 ETFs monitored by the platform. The asset size of $428 million suggests a moderate level of investor adoption relative to larger peers in the sector. This combination of a mid-tier grade and specific cost structure defines its current market positioning. The fund's metrics indicate a specialized exposure to pharmaceuticals within the broader healthcare landscape.

The fund has demonstrated significant return acceleration over the longer term, with a 1-year return of 61.31% and a 3-year return of 65.01%. Short-term performance shows a 1-day decline of 0.43% followed by a 1-week gain of 0.96%, while the 1-month return stands at 3.45%. Momentum has increased notably over the intermediate horizon, with the 3-month return reaching 19.91% and the 6-month return climbing to 21.31%. Year-to-date performance is particularly strong at 24.70%, reflecting the sustained upward trend observed in the 1-year and 3-year figures. The data indicates a pattern where recent gains have outpaced the initial short-term fluctuations. This trajectory highlights a divergence between the modest 1-month gain and the substantial multi-year appreciation.

XPH carries a high volatility label and a beta of 0.72, indicating that while the fund experiences significant price swings, its movements are less sensitive to broad market shifts than the average asset. The fund has achieved a Sharpe ratio of 2.50, suggesting that the returns generated have been substantial relative to the risk taken. However, the maximum drawdown of -23.57% reveals the potential for significant temporary losses during market downturns. This combination of high volatility and a deep drawdown implies that investors must be prepared for sharp declines even if the long-term risk-adjusted returns appear favorable. The low beta suggests the fund may not always move in lockstep with the broader market, yet the high volatility label confirms substantial internal price instability. These metrics collectively describe a fund with high return potential accompanied by significant downside risk exposure.

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 — VHT 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: 4.61% (as of 2026-07-28) — 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): 18.21 (as of 2026-07-28) — 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 0.19% and average daily volume is 83K/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