Tearsheet

State Street Health Care Select Sector SPDR ETF (XLV)

Market Price (6/16/2026): $153.47

State Street Health Care Select Sector SPDR ETF (XLV)

Market Price (6/16/2026): $153.47

Key Takeaways

XLV has returned -0.8% YTD vs +11.0% for SPY; +14.3% over the past 12 months (SPY +27.9%). details →
Priced in gold, XLV has returned -43.4% over the past 3 years, vs +21.6% in dollars — its dollar gains have lagged gold. details →
Risk-adjusted returns trail SPY: 3-year Sharpe ratio of 0.3 vs 1.2. details →
XLV's top 10 holdings represent 61% of the fund vs 38% for SPY — a more concentrated portfolio. details →
XLV's portfolio trades at 17.3x forward earnings — a 15% discount to SPY (20.4x). details →

Last updated: 6/15/2026.

Asset Allocation with XLV

Over the past month, XLV has seen net outflows of −$212M (−0.6% of assets). See ETF Fund Flows ↓

	ETF	1D	1W	1M	YTD
Equity	XLV	-0.6%	0.2%	4.3%	-0.8%
Bond	BND	0.1%	0.7%	0.5%	0.6%
Gold	GLD	2.6%	-0.2%	-7.2%	0.1%
Commodity	DBC	-1.2%	-4.2%	-9.4%	26.2%
Real Estate	VNQ	-0.7%	2.5%	2.6%	11.7%
Bitcoin	BTCUSD	3.4%	4.2%	-18.9%	-24.9%
Cash	GOVT	0.1%	0.6%	0.1%	-0.1%

	ETF	Return	Volatility	Sharpe
Equity	XLV	9.6%	14.5%	50.4%
Bond	BND	1.6%	5.2%	-16.6%
Gold	GLD	12.8%	15.1%	72.8%
Commodity	DBC	6.4%	16.8%	29.5%
Real Estate	VNQ	5.7%	18.1%	27.8%
Bitcoin	BTCUSD	60.3%	76.5%	95.0%
Cash	GOVT	0.6%	5.0%	-37.5%

Figures are on an annualized basis, based on monthly return data for the last 10 years

	ETF	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XLV	-9.8%	-25.1%	-13.9%
Bond	BND	-14.2%	-2.2%	1.3%
Gold	GLD	-7.7%	-6.3%	5.0%
Commodity	DBC	20.5%	-23.7%	-17.5%
Real Estate	VNQ	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	-56.0%	-33.5%	-37.4%
Cash	GOVT	-12.4%	4.4%	1.6%

The table shows the return of different asset classes during market crises - specifically during the period where the S&P fell and bottomed

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Price Chart

ETF Price
Price/Gold

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	6/30/27	6/16/26	2025	2024	2023	2022	2021
Share Price CYE		$152.89	$154.17	$134.64	$131.39	$128.73	$131.46
Dividend/Share TTM		$2.51	$2.48	$2.29	$2.17	$1.99	$1.87
Valuation [1]
P/S	1.44	1.52	1.57	1.55	1.70	1.84	2.13
P/E		28.27	27.71	30.48	27.41	23.28	24.17
P/E (Non-GAAP) [2]	17.26	19.10	19.80	20.34	35.06	24.43	25.86
P/FCF		22.87	24.49	24.44	23.76	20.16	19.42
Yields TTM
Earnings Yield	5.79%	3.54%	3.61%	3.28%	3.65%	4.30%	4.14%
Dividend Yield	1.64%	1.64%	1.61%	1.70%	1.65%	1.55%	1.42%
Total Yield (TY)	7.43%	5.18%	5.21%	4.98%	5.30%	5.84%	5.56%
Risk Premium [3]
Risk Free Rate (Rf)	4.48%	4.48%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	2.95%	0.70%	1.03%	0.40%	1.42%	1.96%	4.04%
Growth Rates [6]
Sales Growth	5.0%	1.7%	10.2%	8.4%	6.1%	8.7%
Earnings Growth [7]	13.5%	-2.8%	25.1%	-15.1%	-16.6%	-1.9%

[1] P/E uses the aggregate method over profitable constituents; P/FCF aggregates net free cash flow across all constituents (negative-FCF names reduce it); P/S uses all constituents. Ratios reflect current ETF holdings at current weights. P/FCF has no Forward column (no analyst FCF estimate).
[2] P/E (Non-GAAP) uses analyst consensus net income (adjusted basis) for all periods. The standard P/E row above uses GAAP net income.
[3] The premium above the risk free rate (US 10Y) offered by the investment. Negative premiums can indicate stretched valuations.
Show more

Highlights

YIELD

XLV's earnings yield is 3.54%, based on its 28.3x trailing P/E. With a 1.64% dividend yield, XLV is yielding 5.18% in total.

RISK

Compared to US Treasuries at 4.48%, XLV's total yield implies a modest 0.70% risk premium. Modest risk premiums suggest valuations are on the full side.

FORWARD EXPECTATIONS

Based on analyst estimates, XLV's forward total yield is 7.43%, implying a 2.95% risk premium assuming stable Treasury rates.

Top 20 Holdings for XLV

Total Weights
Top 5: 46.0% | Top 10: 60.9% | Top 20: 80.4%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		99.78%	100.00%	100.00%	1.4	17.3	+5.0%	+13.5%
Top 20		80.41%	66.03%	77.36%	1.8	17.8	+4.9%	+14.2%
LLY	Eli Lilly	16.53%	1.80%	11.71%	11.0	29.4	+15.9%	+22.1%
JNJ	Johnson & Johnson	10.32%	2.67%	10.83%	5.4	19.0	+6.8%	+11.1%
ABBV	AbbVie	7.14%	1.75%	1.87%	5.6	14.3	+8.1%	+14.3%
UNH	UnitedHealth	6.60%	12.14%	6.03%	0.8	21.4	+2.8%	+6.7%
MRK	Merck	5.38%	1.90%	4.80%	4.2	15.3	+5.2%	+86.9%
AMGN	Amgen	3.42%	1.03%	4.00%	4.9	15.6	+2.6%	+4.4%
TMO	Thermo Fisher Scientific	3.21%	1.26%	3.53%	3.6	17.8	+5.4%	+8.2%
GILD	Gilead Sciences	2.81%	0.83%	4.74%	4.9	26.8	+6.5%	—
ABT	Abbott Laboratories	2.80%	1.25%	3.22%	2.9	15.3	+9.0%	+10.6%
PFE	Pfizer	2.67%	1.75%	3.83%	2.4	9.1	-4.1%	-6.1%
ISRG	Intuitive Surgical	2.63%	0.29%	1.50%	11.9	36.8	+13.5%	+14.0%
CVS	CVS Health	2.30%	11.16%	1.49%	0.3	12.7	+4.4%	+12.1%
BMY	Bristol-Myers Squibb	2.08%	1.34%	3.74%	2.4	9.0	-2.1%	-5.0%
DHR	Danaher	2.04%	0.60%	1.67%	4.9	20.5	+6.1%	+8.2%
VRTX	Vertex Pharmaceuticals	2.03%	0.33%	2.18%	8.4	21.6	+9.5%	+13.4%
SYK	Stryker	1.89%	0.62%	1.52%	4.1	19.7	+8.5%	+8.8%
MDT	Medtronic	1.85%	0.97%	2.35%	2.6	13.2	+2.8%	+6.6%
MCK	McKesson	1.73%	11.18%	2.45%	0.2	16.8	+7.2%	+13.9%
ELV	Elevance Health	1.58%	5.48%	2.66%	0.4	14.0	+2.4%	+11.1%
CI	Cigna	1.40%	7.67%	3.22%	0.3	9.1	+4.3%	+9.3%

[1] Total and Top 20 rows are weighted aggregates across constituents.
[2] Forward P/S and P/E ratios use consensus sales and earnings for the 12 months ending 6/30/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 6/30/27.
[3] Forward Sales and Non-GAAP Earnings Growth are calculated as next fiscal year (FY2) consensus growth over current fiscal year (FY1) consensus. They are not derived from the forward P/S and P/E multiples shown.

Performance for XLV Top Holdings

Ticker	Holding	Weight	Mkt Price 6/15	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
XLV	State Street Health Care Select Sector SPDR ETF	100.00%	152.89	-0.6%	5.4%	-0.8%	14.3%	21.6%	33.4%	157.9%
LLY	Eli Lilly	16.53%	1,129.35	-0.3%	12.4%	5.4%	38.8%	157.7%	436.3%	1,696.9%
JNJ	Johnson & Johnson	10.32%	235.66	-2.2%	4.5%	15.1%	53.8%	56.6%	65.0%	168.3%
ABBV	AbbVie	7.14%	221.59	-2.7%	5.3%	-1.4%	19.7%	78.0%	131.4%	457.6%
UNH	UnitedHealth	6.60%	411.04	1.2%	5.0%	26.2%	35.6%	-4.7%	13.4%	252.1%
MRK	Merck	5.38%	114.90	-2.8%	3.9%	10.8%	46.8%	15.3%	75.3%	192.6%
AMGN	Amgen	3.42%	350.53	-1.3%	7.4%	8.7%	22.3%	67.4%	71.3%	218.1%
TMO	Thermo Fisher Scientific	3.21%	473.72	1.0%	8.2%	-18.1%	18.0%	-11.0%	2.6%	233.3%
GILD	Gilead Sciences	2.81%	124.30	-0.4%	-3.4%	2.5%	16.0%	74.0%	121.6%	114.3%
ABT	Abbott Laboratories	2.80%	88.67	0.6%	5.0%	-28.4%	-33.3%	-11.3%	-11.5%	186.0%
PFE	Pfizer	2.67%	26.00	-0.8%	2.6%	7.9%	13.4%	-21.8%	-14.5%	18.6%
ISRG	Intuitive Surgical	2.63%	416.55	1.3%	-1.1%	-26.5%	-18.7%	26.5%	43.4%	484.2%
CVS	CVS Health	2.30%	100.68	-1.3%	5.0%	29.0%	54.7%	67.0%	40.2%	44.3%
BMY	Bristol-Myers Squibb	2.08%	56.24	-1.6%	-1.3%	6.6%	18.7%	-2.3%	2.7%	12.5%
DHR	Danaher	2.04%	181.10	0.6%	11.9%	-20.7%	-9.1%	-14.3%	-14.8%	188.7%
VRTX	Vertex Pharmaceuticals	2.03%	450.46	1.2%	3.1%	-0.6%	-1.1%	29.5%	140.3%	419.4%
SYK	Stryker	1.89%	307.94	-1.4%	0.4%	-12.1%	-17.6%	7.7%	26.5%	200.9%
MDT	Medtronic	1.85%	80.38	0.2%	5.6%	-15.6%	-5.0%	-0.6%	-25.1%	24.2%
MCK	McKesson	1.73%	779.78	-0.5%	2.6%	-4.8%	7.5%	94.3%	318.0%	373.9%
ELV	Elevance Health	1.58%	401.89	-0.5%	2.8%	15.8%	6.7%	-4.8%	14.1%	248.8%
CI	Cigna	1.40%	293.83	-1.4%	3.6%	8.0%	-5.4%	15.7%	35.9%	151.1%

Guidance Updates for XLV Top Holdings

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
XLV Return	26%	-2%	2%	2%	15%	-0%	47%
Peers Return	35%	-2%	28%	21%	18%	19%	186%
S&P 500 Return	27%	-19%	24%	23%	16%	9%	98%
Monthly Win Rates [3]
XLV Win Rate	75%	42%	50%	67%	58%	50%
Peers Win Rate	70%	42%	62%	62%	65%	47%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
XLV Max Drawdown	-8%	-16%	-9%	-13%	-14%	-10%
Peers Max Drawdown	-11%	-28%	-14%	-12%	-21%	-13%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: VGT, XLK, XLF, XLE, XLI.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 6/15/2026 (YTD)

Sharpe Ratios Compared

One measure of reward vs. risk is a Sharpe ratio. A higher ratio indicates better risk-adjusted returns. Most funds have Sharpe ratios < 1.0.

Ticker	1Y	3Y	5Y
XLV	0.73	0.26	0.20
Equity Top Results (3Y)
NASA	5.73	5.73	5.73
ARKX	4.13	4.13	4.13
OMFL	3.75	3.75	3.75
IALT	2.84	2.84	2.84
NUSC	2.36	2.36	2.36

Results as of 5312026.

Event	XLV	S&P 500
2025 US Tariff Shock
% Loss	-11.7%	-18.8%
% Gain to Breakeven	13.3%	23.1%
Time to Breakeven	142 days	79 days
2022 Inflation Shock & Fed Tightening
% Loss	-13.8%	-24.5%
% Gain to Breakeven	15.9%	32.4%
Time to Breakeven	166 days	427 days
2020 COVID-19 Crash
% Loss	-27.9%	-33.7%
% Gain to Breakeven	38.8%	50.9%
Time to Breakeven	77 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-15.0%	-19.2%
% Gain to Breakeven	17.6%	23.8%
Time to Breakeven	191 days	105 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-15.9%	-12.2%
% Gain to Breakeven	18.9%	13.9%
Time to Breakeven	165 days	62 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-15.8%	-17.9%
% Gain to Breakeven	18.8%	21.8%
Time to Breakeven	153 days	123 days

Compare to VGT, XLK, XLF, XLE, XLI

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Event	XLV	S&P 500
2020 COVID-19 Crash
% Loss	-27.9%	-33.7%
% Gain to Breakeven	38.8%	50.9%
Time to Breakeven	77 days	140 days
2008-2009 Global Financial Crisis
% Loss	-37.9%	-53.4%
% Gain to Breakeven	61.1%	114.4%
Time to Breakeven	767 days	1085 days

Compare to VGT, XLK, XLF, XLE, XLI

In The Past

State Street Health Care Select Sector SPDR ETF's stock fell -11.7% during the 2025 US Tariff Shock. Such a loss loss requires a 13.3% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

XLV Dip Buy History

XLV had 25 events since 1/1/2005 where the dip threshold of -5.0% within 60 days was triggered

18% median peak return within 1 year of dip event
327 days is the median time to peak return after a dip event
-5.5% median max drawdown within 1 year of dip event

60 Day Dip			XLV Subsequent Performance
Date	XLV	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			16%	18%	-5%	327
3202026	-6%	-5%	6%	7%	-1%	81
7312025	-5%	12%	19%	24%	-1%	211
4212025	-8%	-15%	11%	22%	-3%	312
11142024	-6%	6%	7%	8%	-10%	363
10232023	-5%	-8%	20%	26%	-3%	329
2242023	-5%	1%	16%	17%	-3%	364
9272022	-6%	-4%	9%	16%	-0%	78
6102022	-6%	-10%	7%	13%	-4%	187
3142022	-6%	-11%	-1%	10%	-7%	25
2282020	-5%	-4%	25%	31%	-19%	327
10022019	-5%	-3%	23%	28%	-13%	336
5142019	-5%	3%	16%	23%	-12%	253
12172018	-7%	-13%	19%	19%	-7%	364
4022018	-5%	-4%	17%	22%	0%	242
10132016	-6%	-1%	19%	21%	-6%	334
1272016	-6%	-9%	5%	14%	-5%	187
8242015	-8%	-10%	10%	12%	-7%	343
8012011	-5%	-4%	17%	18%	-11%	361
5182010	-5%	2%	24%	25%	-5%	365
3022009	-9%	-17%	48%	54%	-1%	323
10032008	-5%	-11%	-2%	0%	-26%	353
1222008	-5%	-13%	-21%	2%	-29%	13
7272007	-7%	-3%	-4%	10%	-9%	136
4172006	-5%	1%	18%	18%	-4%	365
10212005	-5%	-5%	14%	14%	-1%	364

[1] Dip event defined as first instance dip threshold is triggered within a 60-day time period.
[2] Analysis for period from 1/1/2005 to 6/15/2026

XLV had 10 events since 1/1/2005 where the dip threshold of -10% within 90 days was triggered

20% median peak return within 1 year of dip event
310 days is the median time to peak return after a dip event
-4.9% median max drawdown within 1 year of dip event

90 Day Dip			XLV Subsequent Performance
Date	XLV	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			18%	20%	-5%	310
7152025	-11%	7%	17%	22%	-3%	227
12302024	-11%	6%	18%	18%	-6%	330
5092022	-10%	-16%	7%	12%	-5%	219
3162020	-12%	-22%	44%	48%	-8%	310
9252015	-10%	-9%	10%	15%	-5%	311
9212011	-10%	-12%	27%	27%	-4%	365
7212010	-10%	-6%	27%	31%	-1%	301
5242010	-10%	-6%	27%	29%	-2%	359
10062008	-10%	-24%	2%	4%	-23%	350
3072008	-11%	-15%	-30%	7%	-29%	161

[1] Dip event defined as first instance dip threshold is triggered within a 90-day time period.
[2] Analysis for period from 1/1/2005 to 6/15/2026

XLV had 2 events since 1/1/2005 where the dip threshold of -20% within 180 days was triggered

26% median peak return within 1 year of dip event
338 days is the median time to peak return after a dip event
-13% median max drawdown within 1 year of dip event

180 Day Dip			XLV Subsequent Performance
Date	XLV	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			21%	26%	-13%	338
2232009	-20%	-46%	25%	34%	-14%	330
10092008	-24%	-32%	17%	18%	-13%	347

[1] Dip event defined as first instance dip threshold is triggered within a 180-day time period.
[2] Analysis for period from 1/1/2005 to 6/15/2026

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Current Dip Buy Opportunities Across ETFs

ETFs currently down 5% or more from trailing 6M peaks.

Ticker	Name	Dip %	Mkt Price	Price Date	Peak Price	Peak Date	# Days
MAGS	Roundhill Magnificent Seven ETF	-6.1%	66.62	6152026	70.94	5142026	32
AKRE	Akre Focus ETF	-17.9%	54.68	6152026	66.59	1062026	160
EWZ	iShares MSCI Brazil ETF	-17.0%	34.64	6152026	41.73	4142026	62
FXI	iShares China Large-Cap ETF	-13.9%	35.11	6152026	40.78	1292026	137
ILF	iShares Latin America 40 ETF	-9.7%	34.41	6152026	38.10	4142026	62
KWEB	KraneShares CSI China Internet ETF	-29.3%	26.62	6152026	37.66	1122026	154
URA	Global X Uranium ETF	-22.2%	48.06	6152026	61.81	1282026	138
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-8.1%	38.25	6152026	41.63	5132026	33
ROBO	ROBO Global Robotics & Automation Index ETF	-5.7%	85.21	6152026	90.34	6022026	13
LIT	Global X Lithium & Battery Tech ETF	-8.2%	84.08	6152026	91.62	5112026	35
ICLN	iShares Global Clean Energy ETF	-11.5%	21.03	6152026	23.75	6022026	13
ARKQ	ARK Autonomous Technology & Robotics ETF	-6.3%	134.69	6152026	143.82	5282026	18
ARKW	ARK Next Generation Internet ETF	-5.4%	147.44	6152026	155.78	12222025	175
ARKX	ARK Space & Defense Innovation ETF	-6.8%	35.18	6152026	37.74	5282026	18
NASA	Tema Space Innovators ETF	-22.5%	32.48	6152026	41.89	5272026	19
CGBL	Capital Group Core Balanced ETF	-6.2%	34.41	6152026	36.67	2252026	110
GDE	WisdomTree Efficient Gold Plus Equity Strategy Fund	-6.7%	65.67	6152026	70.39	5112026	35
XLE	State Street Energy Select Sector SPDR ETF	-11.2%	55.55	6152026	62.56	3292026	78
XLC	State Street Communication Services Select Sector SPDR ETF	-6.3%	112.19	6152026	119.70	2012026	134
XLU	State Street Utilities Select Sector SPDR ETF	-5.6%	44.74	6152026	47.40	3012026	106
FXN	First Trust Energy AlphaDEX Fund	-9.9%	20.89	6152026	23.18	3292026	78
ITA	iShares U.S. Aerospace & Defense ETF	-5.2%	237.40	6152026	250.42	3022026	105
XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	-15.8%	158.36	6152026	188.18	3292026	78
IGV	iShares Expanded Tech-Software Sector ETF	-14.9%	92.68	6152026	108.95	12222025	175
MISL	First Trust Indxx Aerospace & Defense ETF	-8.1%	46.87	6152026	50.98	1192026	147
RING	iShares MSCI Global Gold Miners ETF	-26.2%	73.41	6152026	99.42	3012026	106
EDV	Vanguard World Funds Extended Duration ETF	-6.2%	64.11	6152026	68.33	3012026	106
PDBC	Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF	-10.7%	16.89	6152026	18.91	5122026	34
DBC	Invesco DB Commodity Index Tracking Fund	-10.9%	28.22	6152026	31.69	5122026	34
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	-12.2%	32.06	6152026	36.53	5192026	27
GSG	iShares GSCI Commodity	-5.8%	30.01	6152026	31.85	3182026	89
BCI	abrdn Bloomberg All Commodity Strategy K-1 Free ETF	-10.3%	23.25	6152026	25.91	5122026	34
FTGC	First Trust Global Tactical Commodity Strategy Fund	-8.9%	27.82	6152026	30.53	5122026	34
HGER	Harbor Commodity All-Weather Strategy ETF	-9.9%	30.17	6152026	33.47	5122026	34
GLD	SPDR Gold Trust	-20.0%	396.55	6152026	495.90	1292026	137
IAU	iShares Gold Trust	-20.0%	81.26	6152026	101.57	1292026	137
GLDM	SPDR Gold MiniShares Trust	-19.9%	85.51	6152026	106.77	1292026	137
SGOL	ETFS Physical Swiss Gold Shares	-13.1%	44.66	6152026	51.41	1292026	137
BAR	Direxion Daily Gold Bull 3X Shares	-16.6%	44.34	6152026	53.16	1292026	137
SLV	iShares Silver Trust	-39.9%	63.47	6152026	105.60	1282026	138
SIVR	ETFS Physical Silver Shares Trust ETF	-24.8%	83.39	6152026	110.87	1282026	138
PPLT	ETFS Physical Platinum Shares	-36.3%	16.06	6152026	25.23	1252026	141
CPER	United States Copper Index Fund ETV	-13.9%	33.33	6152026	38.71	1292026	137
PALL	ETFS Physical Palladium Shares	-34.4%	24.40	6152026	37.18	1282026	138
USO	United States Oil Fund LP	-20.8%	121.21	6152026	152.96	5192026	27
UNG	United States Natural Gas Fund LP	-32.4%	11.43	6152026	16.90	2012026	134
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	6152026	60.13	5042026	42
IBIT	iShares Bitcoin Trust ETF	-31.9%	37.74	6152026	55.44	1142026	152
FBTC	Fidelity Wise Origin Bitcoin Fund	-31.9%	57.96	6152026	85.12	1142026	152
GBTC	Grayscale Bitcoin Trust ETF	-19.0%	61.84	6152026	76.31	1142026	152
ETHA	iShares Ethereum Trust ETF	-46.2%	13.76	6152026	25.59	1142026	152

ETF Fund Flows

Largest fund inflows and outflows across ETFs, with the asset-allocation rotation they imply.

Net fund flows · as of 2026-06-12

Asset allocation rotation · Past week

Bond ETFs drew the largest net inflows (+$3.4B), followed by Cash (+$688M), while Equity (−$19.3B) and Commodity (−$1.6B) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$7.0B) and out of US Large Cap Core (−$37.8B).
Relative to fund size, ARKQ drew the largest inflow (+47.4% of AUM) and ASHR the largest outflow (−11.2%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$5.74B	+1.2%
2	SPY	State Street SPDR S&P 500 ETF Trust	Equity US Large Cap Core	+$4.07B	+0.5%
3	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	+$2.63B	+3.3%
4	ARKK	ARK Innovation ETF	Equity Thematic	+$1.49B	+19.9% ⚠
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$1.28B	+3.1%
6	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.2B	+47.4%
7	DIA	State Street SPDR Dow Jones Industrial Average ETF Trust	Equity US Large Concentrated	+$1.1B	+2.5%
8	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$1.02B	+1.1%
9	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	+$1.02B	+3.5%
10	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$1.02B	+1.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.2B	+47.4%
2	ARKX	ARK Space & Defense Innovation ETF	Equity Thematic	+$499M	+40.4%
3	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	+$259M	+20.5%
4	ARKK	ARK Innovation ETF	Equity Thematic	+$1.49B	+19.9% ⚠
5	NASA	Tema Space Innovators ETF	Equity Thematic	+$521M	+18.8%
6	ESML	iShares ESG Aware MSCI USA Small-Cap ETF	Equity US Small Cap Core	+$360M	+13.0%
7	KRE	State Street SPDR S&P Regional Banking ETF	Equity Industry Subsector	+$466M	+11.1%
8	IHF	iShares U.S. Healthcare Providers ETF	Equity Industry Subsector	+$90M	+8.5%
9	XOP	State Street SPDR S&P Oil & Gas Exploration & Production ETF	Equity Industry Subsector	+$272M	+8.1%
10	XHB	State Street SPDR S&P Homebuilders ETF	Other	+$125M	+7.7%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$39.39B	-4.9%
2	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	-$2.46B	-1.8%
3	GLD	SPDR Gold Shares	Commodity Gold	-$873M	-0.6%
4	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$771M	-3.1%
5	IAU	iShares Gold Trust	Commodity Gold	-$599M	-0.9%
6	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$385M	-0.8%
7	ITA	iShares U.S. Aerospace & Defense ETF	Equity Industry Subsector	-$341M	-2.5%
8	TILC	Thrivent International Large Cap ETF	Other	-$339M	-41.6%
9	JEPI	JPMorgan Equity Premium Income ETF	Equity Option Income	-$327M	-0.7%
10	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$288M	-3.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	Equity Emerging Markets	-$199M	-11.2%
2	CLIP	Global X - 1-3 Month T-Bill ETF	Cash	-$265M	-10.3%
3	AGIX	KraneShares Artificial Intelligence & Technology ETF	Equity Thematic	-$94M	-9.3%
4	NUSC	Nuveen ESG Small-Cap	Equity US Small Cap Core	-$92M	-7.4%
5	LIT	Global X - Lithium & Battery Tech ETF	Equity Thematic	-$134M	-7.1%
6	SEIV	SEI Enhanced U.S. Large Cap Value Factor ETF	Other	-$91M	-6.3%
7	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$288M	-5.4%
8	FLTW	Franklin FTSE Taiwan ETF	Other	-$136M	-5.0%
9	ILF	iShares Latin America 40 ETF	Equity Emerging Markets	-$198M	-5.0%
10	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$39.39B	-4.9%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$38.5B), followed by Bond (+$23.3B), while Crypto (−$5.1B) and Commodity (−$4.9B) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$9.5B) and out of Emerging Markets (−$5.3B).
Relative to fund size, NASA drew the largest inflow (+115.4% of AUM) and THRO the largest outflow (−38.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$20.52B	+2.1%
2	SPY	State Street SPDR S&P 500 ETF Trust	Equity US Large Cap Core	+$16.79B	+2.2%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$6.23B	+6.8%
4	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$5.11B	+1.1%
5	DRAM	Roundhill Memory ETF	Other	+$5.07B	+33.7%
6	IUSB	iShares Core Universal USD Bond ETF	Bond Core Plus Multisector	+$4.98B	+12.0%
7	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$4.4B	+11.5%
8	VHT	Vanguard Health Care ETF	Equity Broad Sector	+$4.38B	+26.7% ⚠
9	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$4.12B	+4.3%
10	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$3.65B	+0.6%

#	Ticker	Name	Type	Net flow	% of AUM
1	NASA	Tema Space Innovators ETF	Equity Thematic	+$2.79B	+115.4%
2	ARKX	ARK Space & Defense Innovation ETF	Equity Thematic	+$586M	+55.5%
3	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.17B	+50.2%
4	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$3.55B	+49.7%
5	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$1.7B	+46.9% ⚠
6	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	+$900M	+42.5%
7	FTLS	First Trust Long/Short Equity ETF	Equity Asset Allocation	+$790M	+33.8%
8	DRAM	Roundhill Memory ETF	Other	+$5.07B	+33.7%
9	AVIV	Avantis International Large Cap Value ETF	Equity International Developed Broad	+$480M	+27.0%
10	VHT	Vanguard Health Care ETF	Equity Broad Sector	+$4.38B	+26.7% ⚠

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$33.76B	-4.1%
2	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$6.96B	-15.0%
3	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.48B	-19.8%
4	IBIT	iShares Bitcoin Trust ETF	Crypto	-$3.74B	-6.7%
5	GLD	SPDR Gold Shares	Commodity Gold	-$3.34B	-2.3%
6	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$2.97B	-7.1%
7	IVE	iShares S&P 500 Value ETF	Equity US Large Value	-$2.79B	-5.8%
8	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.63B	-38.8%
9	IAGG	iShares Core International Aggregate Bond ETF	Bond International	-$2.6B	-23.0%
10	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.16B	-2.3%

#	Ticker	Name	Type	Net flow	% of AUM
1	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$2.63B	-38.8%
2	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$699M	-26.7% ⚠
3	IAGG	iShares Core International Aggregate Bond ETF	Bond International	-$2.6B	-23.0%
4	MAGS	Roundhill Investments - Magnificent Seven ETF	Equity US Large Concentrated	-$937M	-20.2%
5	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.48B	-19.8%
6	ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	Equity Emerging Markets	-$343M	-18.0%
7	PIEQ		Other	-$238M	-17.1%
8	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$235M	-16.6%
9	KWEB	KraneShares CSI China Internet ETF	Equity Emerging Markets	-$1.02B	-16.1%
10	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$6.96B	-15.0%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$220.0B), followed by Bond (+$52.4B), while Commodity (−$10.5B) and Crypto (−$3.3B) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$120.5B) and out of Gold (−$8.7B).
Relative to fund size, DRAM drew the largest inflow (+240.9% of AUM) and SNXX the largest outflow (−43.7%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPY	State Street SPDR S&P 500 ETF Trust	Equity US Large Cap Core	+$35.38B	+4.9%
2	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$33.68B	+4.2%
3	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$24.63B	+2.7%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$16.04B	+18.7%
5	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$14.74B	+10.8%
6	VTI	Vanguard Total Stock Market ETF	Equity US Total Market	+$13.77B	+2.2%
7	DRAM	Roundhill Memory ETF	Other	+$13.66B	+240.9%
8	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$13.01B	+3.0%
9	SPLG	SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$12.42B	+10.8%
10	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$11.47B	+13.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	DRAM	Roundhill Memory ETF	Other	+$13.66B	+240.9%
2	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	+$1.51B	+149.8%
3	FXN	First Trust Energy AlphaDEX Fund	Equity Broad Sector	+$919M	+77.4%
4	CORO	iShares International Country Rotation Active ETF	Equity International Broad	+$2.57B	+72.1% ⚠
5	IYT	iShares U.S. Transportation ETF	Equity Industry Subsector	+$1.23B	+61.4%
6	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.27B	+59.3%
7	LMUB	iShares Long-Term National Muni Bond ETF	Bond Municipal	+$825M	+55.3%
8	AVIV	Avantis International Large Cap Value ETF	Equity International Developed Broad	+$595M	+47.2%
9	KLMN		Other	+$1.01B	+46.8%
10	SOXQ	Invesco PHLX Semiconductor ETF	Equity Industry Subsector	+$713M	+43.4%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	GLD	SPDR Gold Shares	Commodity Gold	-$8.37B	-5.4%
2	QUAL	iShares MSCI USA Quality Factor ETF	Equity Factor Smart Beta	-$7.53B	-15.5%
3	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.89B	-19.9%
4	IVE	iShares S&P 500 Value ETF	Equity US Large Value	-$2.75B	-5.7%
5	EWY	iShares MSCI South Korea ETF	Equity Emerging Markets	-$2.46B	-11.8%
6	IWB	iShares Russell 1000 ETF	Equity US Large Cap Core	-$2.44B	-5.3%
7	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	-$2.43B	-5.7%
8	EEM	iShares MSCI Emerging Markets ETF	Equity Emerging Markets	-$2.17B	-7.7%
9	XLP	State Street Consumer Staples Select Sector SPDR ETF	Equity Broad Sector	-$2.14B	-14.6%
10	VGK	Vanguard FTSE Europe ETF	Equity International Developed Broad	-$2.05B	-6.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$612M	-43.7% ⚠
2	MISL	First Trust Indxx Aerospace & Defense ETF	Equity Industry Subsector	-$626M	-43.0%
3	USO	United States Oil Fund LP	Commodity Energy	-$833M	-42.7%
4	IYJ	iShares U.S. Industrials ETF	Equity Broad Sector	-$656M	-33.4%
5	OMFL	Invesco Russell 1000 Dynamic Multifactor ETF	Equity Factor Smart Beta	-$1.34B	-29.4%
6	THRO	iShares U.S. Thematic Rotation Active ETF	Equity Thematic	-$1.93B	-24.5%
7	AKRE	Akre Focus ETF	Equity US Large Growth	-$1.4B	-21.9%
8	EFV	iShares MSCI EAFE Value ETF	Equity International Developed Broad	-$5.89B	-19.9%
9	IAI	iShares U.S. Broker-Dealers & Securities Exchanges ETF	Equity Industry Subsector	-$297M	-19.8%
10	RING	iShares MSCI Global Gold Miners ETF	Equity Industry Subsector	-$532M	-17.8%

Largest ETF fund flows across ~2447 funds (min AUM $100M). Net creations/redemptions; leveraged & inverse ETFs excluded. A ⚠ marks a day excluded as a suspected data error.

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About XLV

Holdings Count: 60
Expense Ratio: 0.08%
Inception Date: 1998-12-16

State Street Health Care Select Sector SPDR ETF
The State Street Health Care Select Sector SPDR ETF (XLV) is designed to reflect, before expenses, the price and yield performance of the Health Care Select Sector Index. This benchmark offers a clear representation of the healthcare industry within the S&P 500. The fund provides focused exposure to companies across diverse healthcare fields, such as pharmaceuticals, medical equipment and supplies, healthcare providers and services, biotechnology, life sciences tools and services, and health technology. It allows investors to make targeted strategic or tactical allocations that are more precise than those offered by traditional style-based investment vehicles.
Asset Class: Equity | ETF Website

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
NTLA	Intellia Therapeutics	1.8	23.2%	66.0%
BRUN	Boost Run	1.8	21.2%	78.6%
WDC	Western Digital	223.5	16.1%	279.6%
MVST	Microvast	0.4	14.2%	-53.9%
MRAM	Everspin Technologies	0.6	14.1%	200.1%
AXTI	AXT	5.9	14.0%	577.3%
GPGI	GPGI	3.9	13.8%	-24.4%
WOLF	Wolfspeed	1.9	13.8%	182.0%
OUST	Ouster	2.8	13.5%	108.8%
AAOI	Applied Optoelectronics	14.6	13.3%	449.5%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
BAND	Bandwidth	1.7	-19.1%	241.9%
FOXA	Fox	23.2	-16.8%	-24.7%
WTI	W&T Offshore	0.5	-16.5%	109.1%
FOX	Fox	21.2	-15.2%	-22.6%
LRN	Stride	3.5	-14.5%	28.7%
MH	McGraw Hill	2.0	-12.5%	-37.6%
KOS	Kosmos Energy	1.3	-11.5%	179.9%
METCB	Ramaco Resources	0.6	-10.9%	-13.4%
FISV	Fiserv	25.6	-10.9%	-28.7%
CENX	Century Aluminum	5.4	-10.9%	39.2%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
VELO	Velo3D	0.5	42.3%	68.0%
NUVL	Nuvalent	9.7	39.4%	22.6%
PAYO	Payoneer Global	2.4	36.8%	25.1%
VECO	Veeco Instruments	5.0	36.0%	190.6%
UCTT	Ultra Clean	5.1	35.3%	348.3%
PGEN	Precigen	1.7	34.5%	14.8%
MBX	MBX Biosciences	1.8	34.4%	23.6%
ICHR	Ichor	3.1	34.0%	385.5%
FRMI	Fermi	4.7	31.2%	-6.5%
RXT	Rackspace Technology	1.4	31.2%	509.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
SMCI	Super Micro Computer	18.5	-29.9%	5.4%
SWMR	Swarmer	0.7	-27.0%	35.4%
PCT	PureCycle Technologies	1.6	-26.8%	2.4%
BAND	Bandwidth	1.7	-23.3%	241.9%
NRGV	Energy Vault	0.7	-20.5%	-10.8%
RDW	Redwire	2.9	-20.1%	95.1%
SAIL	SailPoint	7.9	-19.7%	-29.8%
DAN	Dana	3.2	-19.6%	24.9%
BLDP	Ballard Power Systems	1.3	-19.4%	63.8%
SOC	Sable Offshore	1.5	-19.2%	17.5%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
NVRI	Enviri	1.7	278.6%	317.1%
APPS	Digital Turbine	1.1	133.5%	96.6%
HYLN	Hyliion	1.3	100.8%	302.7%
REPL	Replimune	0.8	81.7%	-7.8%
ALAB	Astera Labs	66.4	70.2%	134.0%
AMC	AMC Entertainment	1.2	70.1%	46.2%
MRVL	Marvell Technology	265.9	69.2%	263.9%
VSH	Vishay Intertechnology	8.7	67.7%	342.3%
GENI	Genius Sports	1.9	65.1%	-37.7%
DELL	Dell Technologies	270.0	65.0%	226.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
ADCT	ADC Therapeutics	0.2	-68.8%	-70.3%
VRRM	Verra Mobility	0.8	-62.4%	-77.8%
FULC	Fulcrum Therapeutics	0.3	-50.6%	-69.0%
BTGO	BitGo	0.6	-43.3%	-69.8%
CD	Chaince Digital	0.3	-37.4%	-4.6%
PLAB	Photronics	1.9	-37.1%	2.3%
CELC	Celcuity	4.8	-34.5%	-11.5%
JBIO	Jade Biosciences	0.9	-33.3%	4.3%
NRGV	Energy Vault	0.7	-33.1%	-10.8%
FIGR	Figure Technology Solutions	6.3	-32.9%	-29.0%

Short Interest

Short Interest: As Of Date	5292026
Short Interest: Shares Quantity	9.6 Mil
Short Interest: % Change Since 5152026	-4.0%
Average Daily Volume	9.5 Mil
Days-to-Cover Short Interest	1.0 days

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State Street Health Care Select Sector SPDR ETF (XLV)

Market Price (6/16/2026): $153.47

State Street Health Care Select Sector SPDR ETF (XLV)

Market Price (6/16/2026): $153.47

Key Takeaways

Asset Allocation with XLV

Price Chart

Valuation & Yield

Top 20 Holdings for XLV

Performance for XLV Top Holdings

Guidance Updates for XLV Top Holdings

Return vs. Risk

Price Returns Compared

Sharpe Ratios Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

In The Past

Preserve Wealth

Asset Allocation

XLV Dip Buy History

Current Dip Buy Opportunities Across ETFs

ETF Fund Flows

Asset allocation rotation · Past week

Asset allocation rotation · Past month

Asset allocation rotation · Past 3 months

Set Alerts and Notifications

Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About XLV

Latest Trefis Analyses

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

Top Losers

More From Trefis

Research & Analysis

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Wealth Management

Short Interest

Returns Analyses

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