XLV
The Health Care Select Sector SPDR Fund
Select Sector SPDR® holding S&P 500 stocks in the Health Care sector. Component industries include Health Care Equipment & Services; and Pharmaceutical & Biotechnology. The fund seeks investment results that, before expenses, generally correspond to the price and yield performance of the benchmark index.
US
EQUITY
Passive
MANAGEMENT STYLE
40.2 B
ASSETS UNDER MGMT
8 bp
EXPENSES
Fund Basics
| Fund sponsor | State Street Global Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Dec 16, 1998 |
| Assets (mns) | $40,194 |
| Expense ratio | 8 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Committee |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| ELI LILLY & CO | 14.4 % |
| JOHNSON & JOHNSON | 8.7 % |
| ABBVIE INC | 7.2 % |
| UNITEDHEALTH GROUP INC | 5.4 % |
| MERCK & CO. INC. | 4.5 % |
| ABBOTT LABORATORIES | 3.9 % |
| THERMO FISHER SCIENTIFIC INC | 3.9 % |
| INTUITIVE SURGICAL INC | 3.7 % |
| AMGEN INC | 3.2 % |
| GILEAD SCIENCES INC | 2.7 % |
Constituent Breakdown
| Number of holdings | 60 |
| Herfindahl-Hirschman Index | 510 |
| Wgt avg mkt cap (mns) | $311,398 |
| Large cap (>$10bn) | 98.8% |
| Mid cap ($2-10bn) | 1.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 97.0 % |
 |
IRELAND | 2.8 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 14.6% | 6.9% | 9.6% | 4.3% | 7.5% | 8.3% | 8.5% | 7.1% |
| Dividend Yield | 1.5% | 1.9% | 1.8% | 1.7% | 1.7% | 1.8% | 1.9% | 1.6% |
| Total Returns | 16.1% | 8.9% | 11.4% | 6.0% | 9.2% | 10.1% | 10.4% | 8.6% | Ann. Volatility | 17.6% | 17.3% | 14.4% | 13.6% | 14.4% | 16.7% | 16.9% | 17.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.48 | 30% |
| MSCI EAFE | 0.62 | 36% |
| MSCI Emg Mkts | 0.41 | 18% |
Liquidity Measures
| Avg. volume (000) | 15,944 |
| ADV traded (mns) | $2,449 |
| Turnover | 6.1% |
| Avg. Bid/Ask (% of price) | 0.01% |
Technical Indicators
| 30d moving avg. (EMA) | $151.18 |
| Relative strength (RSI) | 61 |
| MACD/Signal | 2.36/2.81 |
| Bollinger Bands (Upper/Lower) | $159.53/$147.08 |
| Short interest (% of AUM) | 6.4% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. XLV |
Expenses vs. XLV |
ALTAR Score™ vs. XLV |
|---|---|---|---|---|
| IYH | iShares U.S. Healthcare ETF | 91.2% | +32 bp | +6.3% |
| VHT | Vanguard Health Care ETF | 81.2% | +1 bp | +5.5% |
| FHLC | Fidelity MSCI Health Care Index ETF | 80.4% | +0 bp | +5.8% |
| IXJ | iShares Global Healthcare ETF | 71.1% | +34 bp | +6.7% |
| RSPH | Invesco S&P 500 Equal Weight Health Care ETF | 53.5% | +32 bp | +7.4% |
| HRTS | Tema Heart & Health ETF | 52.8% | +67 bp | +2.3% |
| JDOC | JPMorgan Healthcare Leaders ETF | 51.7% | +57 bp | +3.8% |
| PINK | Simplify Health Care ETF | 43.6% | +42 bp | +0.8% |
| MEDX | Horizon Kinetics Medical ETF | 40.0% | +77 bp | +1.4% |
| FTXH | First Trust Nasdaq Pharmaceuticals ETF | 39.4% | +52 bp | +8.3% |
Risk and Returns: XLV vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/12/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
XLV
7.1%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 1025 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.3%. XLV's ALTAR Score™ is approximately
0.7 standard deviations
above
the category average. This places XLV in the 75th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
XLVSELL
U/W
HOLD
O/W
BUY