State Street SPDR S&P Biotech ETF (XBI)

Market Price (8/31/2026): $160.15

State Street SPDR S&P Biotech ETF (XBI)

Market Price (8/31/2026): $160.15

Key Takeaways

XBI has returned +33.2% YTD vs +13.1% for SPY; +81.4% over the past 12 months (SPY +20.3%). details →
Priced in gold, XBI has returned -10.4% over the past 3 years, vs +106.1% in dollars — its dollar gains have lagged gold. details →
Over the past month, XBI has seen net inflows of +$733M (+6.8% of assets). details →
Only 31% of XBI's portfolio (by weight) is currently profitable, vs 98% for SPY. details →
XBI's +33.2% YTD is ahead of its typical pace — it averaged -4.6% at this point (August 30) over the past 5 years. details →

Last updated: 8/30/2026.

Price Chart

ETF Price
Price/Gold

Asset Allocation with XBI

Risk Tolerance:

ConservativeModerateAggressive

Moderate — 55% equity / 25% bonds / 20% alternatives

10Y Return (ann.)

+9.6%

Volatility

16.4%

Sharpe

0.47

YTD

+20.3%

Modeled with monthly rebalancing to target weights; 10-year figures are annualized from monthly returns. Illustrative only — past performance is not indicative of future results.

	ETF	%	1D	1W	1M	YTD
Equity	XBI	25.0%	-3.5%	-2.0%	7.2%	33.2%
Bond	BND	50.0%	-0.3%	0.1%	0.2%	-0.1%
Gold	GLD	10.0%	-3.2%	-3.4%	8.4%	3.2%
Commodity	DBC	2.5%	-0.2%	-1.5%	5.0%	37.7%
Real Estate	VNQ	5.0%	-0.4%	-1.3%	-2.3%	12.0%
Bitcoin	BTCUSD	0.0%	-3.0%	-0.6%	20.2%	-11.1%
Cash	GOVT	7.5%	-0.3%	0.0%	-0.2%	-0.7%
Conservative Portfolio		100.0%	-1.4%	-0.9%	2.7%	10.1%

	ETF	%	1D	1W	1M	YTD
Equity	XBI	55.0%	-3.5%	-2.0%	7.2%	33.2%
Bond	BND	25.0%	-0.3%	0.1%	0.2%	-0.1%
Gold	GLD	7.0%	-3.2%	-3.4%	8.4%	3.2%
Commodity	DBC	4.0%	-0.2%	-1.5%	5.0%	37.7%
Real Estate	VNQ	5.0%	-0.4%	-1.3%	-2.3%	12.0%
Bitcoin	BTCUSD	2.0%	-3.0%	-0.6%	20.2%	-11.1%
Cash	GOVT	2.0%	-0.3%	0.0%	-0.2%	-0.7%
Moderate Portfolio		100.0%	-2.3%	-1.5%	5.1%	20.3%

	ETF	%	1D	1W	1M	YTD
Equity	XBI	80.0%	-3.5%	-2.0%	7.2%	33.2%
Bond	BND	5.0%	-0.3%	0.1%	0.2%	-0.1%
Gold	GLD	3.0%	-3.2%	-3.4%	8.4%	3.2%
Commodity	DBC	2.2%	-0.2%	-1.5%	5.0%	37.7%
Real Estate	VNQ	4.5%	-0.4%	-1.3%	-2.3%	12.0%
Bitcoin	BTCUSD	5.2%	-3.0%	-0.6%	20.2%	-11.1%
Cash	GOVT	0.0%	-0.3%	0.0%	-0.2%	-0.7%
Aggressive Portfolio		100.0%	-3.1%	-1.8%	7.1%	27.4%

	ETF	%	Return	Volatility	Sharpe
Equity	XBI	25.0%	10.2%	27.2%	0.38
Bond	BND	50.0%	1.4%	5.2%	-0.25
Gold	GLD	10.0%	12.2%	15.4%	0.62
Commodity	DBC	2.5%	7.3%	17.5%	0.30
Real Estate	VNQ	5.0%	5.0%	17.5%	0.20
Bitcoin	BTCUSD	0.0%	63.4%	76.2%	0.96
Cash	GOVT	7.5%	0.4%	4.9%	-0.47
Conservative Portfolio		100.0%	5.5%	9.3%	0.32

	ETF	%	Return	Volatility	Sharpe
Equity	XBI	55.0%	10.2%	27.2%	0.38
Bond	BND	25.0%	1.4%	5.2%	-0.25
Gold	GLD	7.0%	12.2%	15.4%	0.62
Commodity	DBC	4.0%	7.3%	17.5%	0.30
Real Estate	VNQ	5.0%	5.0%	17.5%	0.20
Bitcoin	BTCUSD	2.0%	63.4%	76.2%	0.96
Cash	GOVT	2.0%	0.4%	4.9%	-0.47
Moderate Portfolio		100.0%	9.6%	16.4%	0.47

	ETF	%	Return	Volatility	Sharpe
Equity	XBI	80.0%	10.2%	27.2%	0.38
Bond	BND	5.0%	1.4%	5.2%	-0.25
Gold	GLD	3.0%	12.2%	15.4%	0.62
Commodity	DBC	2.2%	7.3%	17.5%	0.30
Real Estate	VNQ	4.5%	5.0%	17.5%	0.20
Bitcoin	BTCUSD	5.2%	63.4%	76.2%	0.96
Cash	GOVT	0.0%	0.4%	4.9%	-0.47
Aggressive Portfolio		100.0%	13.4%	23.0%	0.54

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

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XBI	25.0%	-25.2%	-27.0%	-32.6%
Bond	BND	50.0%	-14.2%	-2.2%	1.3%
Gold	GLD	10.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.5%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	0.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	7.5%	-12.4%	4.4%	1.6%
Conservative Portfolio		100.0%	-16.1%	-10.8%	-7.9%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XBI	55.0%	-25.2%	-27.0%	-32.6%
Bond	BND	25.0%	-14.2%	-2.2%	1.3%
Gold	GLD	7.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	4.0%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	5.0%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	2.0%	-56.0%	-33.5%	-37.4%
Cash	GOVT	2.0%	-12.4%	4.4%	1.6%
Moderate Portfolio		100.0%	-20.0%	-19.4%	-19.2%

	ETF	%	Inflation Shock	Covid Pandemic	2018 Correction
Equity	XBI	80.0%	-25.2%	-27.0%	-32.6%
Bond	BND	5.0%	-14.2%	-2.2%	1.3%
Gold	GLD	3.0%	-7.7%	-6.3%	5.0%
Commodity	DBC	2.2%	20.5%	-23.7%	-17.5%
Real Estate	VNQ	4.5%	-29.8%	-41.6%	-11.1%
Bitcoin	BTCUSD	5.2%	-56.0%	-33.5%	-37.4%
Cash	GOVT	0.0%	-12.4%	4.4%	1.6%
Aggressive Portfolio		100.0%	-24.9%	-26.1%	-28.7%

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

Learn More →

Tailored Asset Allocation
[1] Personalized 5 Level Risk Tolerance Assessment
[2] Asset Allocation for My Risk Tolerance

Learn More →

Protect Wealth
[1] Defensive Portfolios
[2] Tax-Efficient Strategies

Valuation & Yield

	Forward [4,5]	Now	Historical (CYE & TTM)
	8/31/27	8/31/26	2025	2024	2023	2022	2021
Share Price CYE		$162.38	$121.93	$89.72	$88.83	$82.56	$111.36
Dividend/Share TTM		$0.43	$0.45	$0.13	$0.02	$0.00	$0.04
Valuation [1]
P/S	7.79	9.07	8.29	7.51	8.07	5.00	20.33
P/E		23.46	20.17	22.17	28.48	16.21	11.20
P/E (Non-GAAP) [2]	48.35	66.24	48.30	46.73	109.15	107.56	93.02
P/FCF		—	—	—	—	—	—
Yields TTM
Earnings Yield	2.07%	4.26%	4.96%	4.51%	3.51%	6.17%	8.93%
Dividend Yield	0.27%	0.27%	0.37%	0.15%	0.02%	0.00%	0.04%
Total Yield (TY)	2.34%	4.53%	5.32%	4.66%	3.53%	6.17%	8.96%
Risk Premium [3]
Risk Free Rate (Rf)	4.67%	4.67%	4.18%	4.58%	3.88%	3.88%	1.52%
Risk Prem. (TY - Rf)	-2.33%	-0.14%	1.14%	0.08%	-0.35%	2.29%	7.44%
Growth Rates [6]
Sales Growth	16.2%	1.8%	24.4%	14.5%	-11.0%	8.0%
Earnings Growth [7]

[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.
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Highlights

YIELD

XBI's earnings yield is 4.26%, based on its 23.5x trailing P/E. With a 0.27% dividend yield, XBI is yielding 4.53% in total.

RISK

Compared to US Treasuries at 4.67%, XBI's total yield implies a -0.14% risk premium. A negative risk premium means investors earn less than risk-free Treasuries — valuations are historically stretched, though expectations of falling interest rates or fast earnings growth can justify such levels.

FORWARD EXPECTATIONS

Based on analyst estimates, XBI's forward total yield is 2.34%, implying a -2.33% risk premium assuming stable Treasury rates.

Top 20 Holdings for XBI

Total Weights
Top 5: 9.0% | Top 10: 15.7% | Top 20: 27.9%

Ticker	Holding	ETF Weight	Sales Weight	Earnings Weight	Fwd P/S	Fwd P/E	Fwd Sales Growth	Fwd Earnings Growth
Total		68.98%	100.00%	100.00%	7.4	46.3	+16.2%	+14.5%
Top 20		17.53%	11.40%	12.82%	14.6	55.1	+18.8%	-3.8%
MRNA	Moderna	2.76%	1.37%	—	23.9	—	+14.3%	—
TWST	Twist Bioscience	2.01%	1.21%	—	16.4	—	+19.3%	—
APGE	Apogee Therapeutics	1.45%	—	—	—	—	—	—
NTRA	Natera	1.39%	0.99%	—	14.2	—	+19.7%	—
KYMR	Kymera Therapeutics	1.37%	0.15%	—	184.3	—	-61.1%	—
RVMD	Revolution Medicines	1.36%	—	—	—	—	—	—
PRAX	Praxis Precision Medicines	1.36%	—	—	—	—	—	—
HALO	Halozyme Therapeutics	1.35%	2.24%	4.85%	6.2	10.2	+11.5%	+22.7%
ORKA	Oruka Therapeutics	1.34%	—	—	—	—	—	—
DNTH	Dianthus Therapeutics	1.30%	0.01%	—	2,990.6	—	+8.5%	—
ERAS	Erasca	1.30%	—	—	—	—	—	—
TVTX	Travere Therapeutics	1.28%	1.52%	—	6.4	15.8	+49.5%	—
CGON	CG Oncology	1.28%	0.01%	—	118.8	—	+1,783.9%	—
PTGX	Protagonist Therapeutics	1.26%	0.46%	1.18%	31.1	96.5	-64.0%	-105.2%
PCVX	Vaxcyte	1.20%	—	—	—	—	—	—
SRRK	Scholar Rock	1.19%	—	—	—	—	—	—
REGN	Regeneron Pharmaceuticals	1.19%	2.80%	6.79%	4.5	12.9	+9.0%	+12.6%
ROIV	Roivant Sciences	1.18%	0.00%	—	130.7	—	+665.7%	—
SLS	SELLAS Life Sciences	1.17%	—	—	—	—	—	—
INSM	Insmed	1.17%	0.64%	—	10.2	8,754.3	+60.7%	—

[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 8/31/27. Individual constituent FY1 and FY2 consensus figures adjusted to align with 8/31/27.
[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 XBI Top Holdings

Ticker	Holding	Weight	Mkt Price 8/30	1D Rtn	1M Rtn	YTD Rtn	1Y Rtn	3Y Rtn	5Y Rtn	10Y Rtn
XBI	State Street SPDR S&P Biotech ETF	100.00%	162.38	0.0%	10.5%	33.2%	81.4%	106.1%	22.9%	172.7%
MRNA	Moderna	2.76%	137.99	0.0%	151.7%	367.9%	472.8%	22.0%	-63.4%
TWST	Twist Bioscience	2.01%	141.38	0.0%	54.4%	345.7%	424.2%	542.9%	24.9%
APGE	Apogee Therapeutics	1.45%	134.97	0.0%	0.7%	78.8%	271.1%	488.4%
NTRA	Natera	1.39%	326.26	0.0%	21.8%	42.4%	93.9%	455.5%	175.5%	3,143.1%
KYMR	Kymera Therapeutics	1.37%	118.15	0.0%	14.3%	51.8%	186.8%	519.2%	90.1%
RVMD	Revolution Medicines	1.36%	207.88	0.0%	10.9%	161.0%	447.5%	512.0%	614.6%
PRAX	Praxis Precision Medicines	1.36%	344.75	0.0%	12.0%	17.0%	657.0%	1,463.5%	15.7%
HALO	Halozyme Therapeutics	1.35%	105.35	0.0%	27.6%	56.5%	44.0%	147.5%	150.9%	956.7%
ORKA	Oruka Therapeutics	1.34%	91.14	0.0%	-5.6%	200.7%	515.8%	588.9%	357.0%	-72.4%
DNTH	Dianthus Therapeutics	1.30%	105.84	0.0%	-1.0%	156.8%	349.0%	14,012.0%	1,553.7%
ERAS	Erasca	1.30%	18.03	0.0%	-0.7%	384.7%	1,048.4%	596.1%	-24.6%
TVTX	Travere Therapeutics	1.28%	65.67	0.0%	17.5%	71.9%	275.3%	359.9%	200.8%	301.7%
CGON	CG Oncology	1.28%	74.34	0.0%	4.4%	79.0%	177.2%
PTGX	Protagonist Therapeutics	1.26%	144.33	0.0%	5.6%	65.3%	144.4%	628.2%	197.6%	1,093.8%
PCVX	Vaxcyte	1.20%	59.84	0.0%	10.6%	29.7%	94.3%	15.2%	128.1%
SRRK	Scholar Rock	1.19%	57.80	0.0%	22.2%	31.2%	77.0%	824.8%	46.2%
REGN	Regeneron Pharmaceuticals	1.19%	794.19	0.0%	4.3%	3.3%	37.5%	-3.0%	19.1%	103.8%
ROIV	Roivant Sciences	1.18%	34.71	0.0%	2.4%	60.0%	190.9%	200.0%	248.8%
SLS	SELLAS Life Sciences	1.17%	13.21	0.0%	32.0%	250.4%	588.0%	798.6%	42.2%	-99.9%
INSM	Insmed	1.17%	118.54	0.0%	20.2%	-31.9%	-12.9%	441.5%	322.8%	785.3%

Guidance Updates for XBI Top Holdings

	Ticker	Company	Earnings Date	Guidance Metric	Midpoint Value	% Change	Guidance Change
HALO_8062026	HALO	Halozyme Therapeutics	8/6/2026	2026 Total Revenue	1.87 Bil	6.4%	RaisedRaised Prior Guidance of 1.76 Bil for 2026
INSM_8062026	INSM	Insmed	8/6/2026	2026 BRINSUPRI Revenue	1.32 Bil	32.5%	RaisedRaised Prior Guidance of 1.00 Bil for 2026

Return vs. Risk

Price Returns Compared

	2021	2022	2023	2024	2025	2026	Total [1]
Returns
XBI Return	-20%	-26%	8%	1%	36%	38%	20%
Peers Return	33%	-5%	32%	13%	33%	44%	258%
S&P 500 Return	27%	-19%	24%	23%	16%	13%	106%
Monthly Win Rates [3]
XBI Win Rate	33%	50%	50%	50%	67%	88%
Peers Win Rate	63%	48%	58%	57%	67%	65%
S&P 500 Win Rate	75%	42%	67%	75%	67%	50%
Max Drawdowns [4]
XBI Max Drawdown	-37%	-46%	-30%	-20%	-26%	-11%
Peers Max Drawdown	-18%	-35%	-16%	-18%	-27%	-20%
S&P 500 Max Drawdown	-5%	-25%	-10%	-8%	-19%	-9%

[1] Cumulative total returns since the beginning of 2021
[2] Peers: SMH, SOXX, IBB, ITA, XOP.
[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 8/28/2026 (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
XBI	1.97	0.66	0.16
Equity Top Results (3Y)
IALT	2.11	2.11	2.11
SPMO	0.89	1.38	0.82
VLUE	2.49	1.26	0.69
CORO	1.33	1.25	1.25
CGDV	1.35	1.23	0.94

Results as of 7312026.

Event	XBI	S&P 500
2025 US Tariff Shock
% Loss	-24.6%	-18.8%
% Gain to Breakeven	32.6%	23.1%
Time to Breakeven	147 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-22.9%	-9.5%
% Gain to Breakeven	29.7%	10.5%
Time to Breakeven	47 days	24 days
2023 SVB Regional Banking Crisis
% Loss	-14.5%	-6.7%
% Gain to Breakeven	17.0%	7.1%
Time to Breakeven	48 days	31 days
2022 Inflation Shock & Fed Tightening
% Loss	-45.6%	-24.5%
% Gain to Breakeven	83.8%	32.4%
Time to Breakeven	1290 days	427 days
2020 COVID-19 Crash
% Loss	-32.9%	-33.7%
% Gain to Breakeven	49.1%	50.9%
Time to Breakeven	53 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-31.1%	-19.2%
% Gain to Breakeven	45.0%	23.8%
Time to Breakeven	351 days	105 days

Compare to SMH, SOXX, IBB, ITA, XOP

In The Past

State Street SPDR S&P Biotech ETF's stock fell -24.6% during the 2025 US Tariff Shock. Such a loss loss requires a 32.6% 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	XBI	S&P 500
2025 US Tariff Shock
% Loss	-24.6%	-18.8%
% Gain to Breakeven	32.6%	23.1%
Time to Breakeven	147 days	79 days
Summer-Fall 2023 Five Percent Yield Shock
% Loss	-22.9%	-9.5%
% Gain to Breakeven	29.7%	10.5%
Time to Breakeven	47 days	24 days
2022 Inflation Shock & Fed Tightening
% Loss	-45.6%	-24.5%
% Gain to Breakeven	83.8%	32.4%
Time to Breakeven	1290 days	427 days
2020 COVID-19 Crash
% Loss	-32.9%	-33.7%
% Gain to Breakeven	49.1%	50.9%
Time to Breakeven	53 days	140 days
Q4 2018 Fed Policy Error / Growth Scare
% Loss	-31.1%	-19.2%
% Gain to Breakeven	45.0%	23.8%
Time to Breakeven	351 days	105 days
2016-2017 Trump Reflation Bond Selloff
% Loss	-21.4%	-3.7%
% Gain to Breakeven	27.2%	3.9%
Time to Breakeven	11 days	6 days
2015-2016 China Devaluation / Global Growth Scare
% Loss	-42.3%	-12.2%
% Gain to Breakeven	73.2%	13.9%
Time to Breakeven	497 days	62 days
2011 US Debt Ceiling Crisis & European Contagion
% Loss	-26.7%	-17.9%
% Gain to Breakeven	36.5%	21.8%
Time to Breakeven	172 days	123 days
2008-2009 Global Financial Crisis
% Loss	-29.1%	-53.4%
% Gain to Breakeven	41.0%	114.4%
Time to Breakeven	371 days	1085 days

Compare to SMH, SOXX, IBB, ITA, XOP

In The Past

State Street SPDR S&P Biotech ETF's stock fell -24.6% during the 2025 US Tariff Shock. Such a loss loss requires a 32.6% 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.

XBI Dip Buy History

XBI had 33 events since 2/6/2006 where the dip threshold of -5.0% within 60 days was triggered

31% median peak return within 1 year of dip event
318 days is the median time to peak return after a dip event
-16% median max drawdown within 1 year of dip event

60 Day Dip			XBI Subsequent Performance
Date	XBI	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			25%	31%	-16%	318
3242026	-5%	-5%			-1%	148
11152024	-8%	6%	24%	25%	-24%	368
10092024	-5%	2%	9%	11%	-28%	365
4182024	-6%	3%	-7%	25%	-16%	204
8042023	-5%	9%	16%	27%	-21%	207
3102023	-7%	-3%	27%	36%	-15%	354
10032022	-5%	-5%	-13%	15%	-13%	122
11182021	-5%	5%	-34%	0%	-49%	0
9202021	-6%	2%	-36%	4%	-51%	44
3232021	-8%	6%	-33%	1%	-41%	36
2272020	-6%	-5%	69%	99%	-25%	347
9032019	-5%	2%	39%	53%	-16%	321
5132019	-5%	3%	27%	30%	-18%	364
9142018	-5%	5%	-13%	1%	-32%	6
4022018	-5%	-4%	10%	21%	-22%	79
5302017	-5%	2%	40%	44%	0%	244
12122016	-6%	6%	34%	46%	-3%	297
10252016	-8%	-1%	42%	51%	-9%	345
6272016	-6%	-3%	56%	62%	0%	361
8202015	-8%	-4%	-14%	10%	-37%	28
4072014	-8%	1%	72%	80%	-9%	346
12112013	-6%	5%	53%	56%	-1%	363
10232012	-5%	3%	43%	51%	-7%	344
11252011	-5%	-4%	47%	61%	0%	301
8022011	-7%	-6%	29%	38%	-18%	360
5242010	-6%	-2%	38%	41%	-6%	339
10192009	-6%	12%	17%	20%	-10%	155
3022009	-5%	-17%	36%	36%	-2%	365
10032008	-5%	-11%	-11%	0%	-25%	0
1242008	-7%	-12%	-7%	24%	-20%	203
7272007	-6%	-3%	30%	32%	-5%	361
1252007	-5%	3%	17%	31%	-3%	315
5032006	-6%	4%	16%	16%	-9%	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 8/30/2026

XBI had 21 events since 2/6/2006 where the dip threshold of -10% within 90 days was triggered

35% median peak return within 1 year of dip event
321 days is the median time to peak return after a dip event
-18% median max drawdown within 1 year of dip event

90 Day Dip			XBI Subsequent Performance
Date	XBI	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			26%	35%	-18%	321
2252025	-10%	2%	40%	49%	-21%	331
12302024	-12%	6%	41%	41%	-22%	373
9182023	-12%	9%	33%	35%	-16%	162
3232023	-11%	0%	26%	40%	-13%	341
12132022	-10%	-2%	3%	11%	-23%	51
11262021	-10%	6%	-32%	1%	-46%	27
10182021	-10%	6%	-34%	10%	-49%	16
5042021	-14%	14%	-41%	7%	-43%	52
3122020	-13%	-18%	107%	146%	-7%	333
8122019	-11%	1%	33%	46%	-20%	343
10102018	-11%	2%	-10%	10%	-23%	177
9252015	-12%	-9%	1%	8%	-32%	63
8242015	-12%	-9%	-7%	16%	-33%	24
7072014	-10%	8%	67%	73%	-11%	350
5202014	-14%	3%	90%	93%	-0%	303
11152012	-12%	1%	50%	62%	0%	321
8082011	-16%	-15%	57%	69%	0%	354
7062010	-11%	-6%	48%	50%	0%	329
10072008	-11%	-28%	-3%	8%	-18%	345
2202008	-10%	-13%	-3%	30%	-16%	176
6162006	-10%	0%	19%	23%	-4%	340

[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 8/30/2026

XBI had 7 events since 2/6/2006 where the dip threshold of -20% within 180 days was triggered

49% median peak return within 1 year of dip event
296 days is the median time to peak return after a dip event
-6.7% median max drawdown within 1 year of dip event

180 Day Dip			XBI Subsequent Performance
Date	XBI	SPY	1Y	Peak Return	Max Drop	# Days to Peak
Median			44%	49%	-7%	296
4012025	-21%	1%	65%	69%	-11%	296
10122023	-23%	10%	44%	50%	-7%	138
10062021	-21%	14%	-32%	10%	-49%	28
3162020	-23%	-17%	122%	164%	0%	329
12212018	-21%	-6%	49%	49%	-0%	367
1082016	-23%	-8%	8%	14%	-24%	258
3022009	-22%	-46%	36%	36%	-2%	365

[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 8/30/2026

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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
SCHA	Schwab U.S. Small-Cap ETF	-5.2%	34.24	8302026	36.13	6302026	61
EEM	iShares MSCI Emerging Markets ETF	-5.7%	67.14	8302026	71.21	6222026	69
ASHR	Xtrackers Harvest CSI 300 China A-Shares ETF	-8.1%	34.29	8302026	37.30	6222026	69
EWY	iShares MSCI South Korea ETF	-17.8%	180.20	8302026	219.20	6212026	70
EWZ	iShares MSCI Brazil ETF	-14.8%	35.55	8302026	41.73	4142026	138
FXI	iShares China Large-Cap ETF	-7.2%	35.51	8302026	38.26	5132026	109
ILF	iShares Latin America 40 ETF	-9.1%	34.65	8302026	38.10	4142026	138
KWEB	KraneShares CSI China Internet ETF	-15.3%	26.32	8302026	31.06	3012026	182
MTUM	iShares MSCI USA Momentum Factor ETF	-13.2%	299.71	8302026	345.22	6222026	69
SPMO	Invesco S&P 500 Momentum ETF	-9.2%	146.78	8302026	161.66	6222026	69
URA	Global X Uranium ETF	-21.8%	45.57	8302026	58.26	5062026	116
BOTZ	Global X Funds Global X Robotics & Artificial Intelligence ETF	-14.1%	35.75	8302026	41.63	5132026	109
ROBO	ROBO Global Robotics & Automation Index ETF	-10.7%	80.64	8302026	90.34	6022026	89
LIT	Global X Lithium & Battery Tech ETF	-17.0%	76.07	8302026	91.62	5112026	111
ICLN	iShares Global Clean Energy ETF	-26.4%	17.48	8302026	23.75	6022026	89
ARKQ	ARK Autonomous Technology & Robotics ETF	-14.9%	122.32	8302026	143.82	5282026	94
ARKX	ARK Space & Defense Innovation ETF	-14.3%	32.35	8302026	37.74	5282026	94
NASA	Tema Space Innovators ETF	-44.1%	23.41	8302026	41.89	5272026	95
AGIX	KraneShares Artificial Intelligence ETF	-8.8%	45.03	8302026	49.40	6012026	90
XLK	State Street Technology Select Sector SPDR ETF	-6.3%	185.69	8302026	198.21	6022026	89
XLI	State Street Industrial Select Sector SPDR ETF	-5.0%	177.14	8302026	186.51	8162026	14
XLC	State Street Communication Services Select Sector SPDR ETF	-5.1%	112.99	8302026	119.10	4192026	133
XLU	State Street Utilities Select Sector SPDR ETF	-9.8%	42.73	8302026	47.40	3012026	182
SMH	VanEck Semiconductor ETF	-17.3%	553.11	8302026	668.91	6222026	69
SOXX	iShares Semiconductor ETF	-22.3%	508.62	8302026	655.01	6222026	69
ITA	iShares U.S. Aerospace & Defense ETF	-8.1%	232.82	8302026	253.22	8162026	14
MISL	First Trust Indxx Aerospace & Defense ETF	-11.9%	44.64	8302026	50.66	3022026	181
RING	iShares MSCI Global Gold Miners ETF	-12.0%	87.46	8302026	99.42	3012026	182
SOXQ	Invesco PHLX Semiconductor ETF	-21.6%	90.28	8302026	115.11	6222026	69
TLT	iShares 20+ Year Treasury Bond ETF	-7.0%	82.88	8302026	89.15	3012026	182
VGLT	Vanguard Long-Term Treasury ETF	-5.9%	53.18	8302026	56.53	3012026	182
SPTL	State Street SPDR Portfolio Long Term Treasury ETF	-6.3%	25.29	8302026	26.99	3012026	182
TLH	iShares 10-20 Year Treasury Bond ETF	-5.6%	97.29	8302026	103.08	3012026	182
EDV	Vanguard World Funds Extended Duration ETF	-10.0%	60.66	8302026	67.42	3012026	182
COMT	iShares GSCI Commodity Dynamic Roll Strategy ETF	-5.6%	34.48	8302026	36.53	5192026	103
GSG	iShares GSCI Commodity	-5.8%	30.01	8302026	31.85	3182026	165
GLD	SPDR Gold Trust	-16.6%	408.89	8302026	490.00	3022026	181
IAU	iShares Gold Trust	-16.5%	83.82	8302026	100.38	3022026	181
GLDM	SPDR Gold MiniShares Trust	-16.4%	88.20	8302026	105.54	3022026	181
SGOL	ETFS Physical Swiss Gold Shares	-12.1%	44.66	8302026	50.81	3022026	181
BAR	Direxion Daily Gold Bull 3X Shares	-15.6%	44.34	8302026	52.53	3022026	181
SLV	iShares Silver Trust	-29.4%	60.02	8302026	84.99	3012026	182
SIVR	ETFS Physical Silver Shares Trust ETF	-6.6%	83.39	8302026	89.26	3012026	182
PPLT	ETFS Physical Platinum Shares	-23.2%	16.49	8302026	21.47	3012026	182
CPER	United States Copper Index Fund ETV	-9.6%	33.33	8302026	36.88	3012026	182
PALL	ETFS Physical Palladium Shares	-20.6%	25.79	8302026	32.48	3012026	182
USO	United States Oil Fund LP	-15.2%	129.70	8302026	152.96	5192026	103
UNG	United States Natural Gas Fund LP	-20.8%	10.33	8302026	13.04	3122026	171
BNO	United States Brent Oil Fund LP ETV	-7.1%	55.85	8302026	60.13	5042026	118
USRT	iShares Core U.S. REIT ETF	-5.3%	66.13	8302026	69.82	7262026	35
IBIT	iShares Bitcoin Trust ETF	-5.5%	43.90	8302026	46.47	5112026	111
FBTC	Fidelity Wise Origin Bitcoin Fund	-5.5%	67.44	8302026	71.35	5112026	111

ETF Fund Flows

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

Net fund flows · as of 2026-08-28

Asset allocation rotation · Past week

Equity ETFs drew the largest net inflows (+$17.3B), followed by Bond (+$2.6B), with every major asset class in net inflows.
Within the mix, money rotated into US Large Cap Core (+$7.7B) and out of Intermediate Treasury (−$5.6B).
Relative to fund size, MGNR drew the largest inflow (+27.2% of AUM) and TAN the largest outflow (−13.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$9.34B	+0.9%
2	VGSH	Vanguard Short-Term Treasury ETF	Bond Short Treasury	+$2.62B	+8.4%
3	SCHO	Schwab Short-Term U.S. Treasury ETF	Bond Short Treasury	+$1.92B	+13.6%
4	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	+$1.8B	+2.6%
5	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$1.36B	+0.2%
6	IJH	iShares Core S&P Mid-Cap ETF	Equity US Mid Cap Core	+$1.27B	+1.0%
7	SPTS	State Street SPDR Portfolio Short Term Treasury ETF	Bond Short Treasury	+$1.19B	+16.7%
8	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$997M	+0.9%
9	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	+$953M	+1.2%
10	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$936M	+0.9%

#	Ticker	Name	Type	Net flow	% of AUM
1	MGNR	American Beacon GLG Natural Resources ETF	Other	+$351M	+27.2%
2	NULV	Nuveen ESG Large-Cap Value	Other	+$572M	+22.6%
3	SPTS	State Street SPDR Portfolio Short Term Treasury ETF	Bond Short Treasury	+$1.19B	+16.7%
4	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$217M	+14.8%
5	CNEQ	Alger Concentrated Equity ETF	Other	+$303M	+14.6%
6	SCHO	Schwab Short-Term U.S. Treasury ETF	Bond Short Treasury	+$1.92B	+13.6%
7	NULG	Nuveen ESG Large-Cap Growth	Other	+$381M	+12.9%
8	QDF	Northern Trust Quality Dividend ETF	Other	+$283M	+12.6%
9	KLMN		Other	+$221M	+9.9%
10	TBLL	Invesco Short Term Treasury ETF	Other	+$254M	+9.6%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$2.7B	-6.4%
2	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$2.04B	-4.8%
3	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$1.92B	-0.2%
4	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	-$1.46B	-0.3%
5	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$1.19B	-2.1%
6	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$887M	-2.1%
7	DRAM	Roundhill Memory ETF	Other	-$857M	-3.3%
8	VGT	Vanguard Information Technology ETF	Equity Broad Sector	-$799M	-0.6%
9	LQD	iShares iBoxx $ Investment Grade Corporate Bond ETF	Bond Intermediate Corporate	-$727M	-2.2%
10	GLD	SPDR Gold Shares	Commodity Gold	-$717M	-0.5%

#	Ticker	Name	Type	Net flow	% of AUM
1	TAN	Invesco Solar ETF	Other	-$161M	-13.8%
2	USO	United States Oil Fund, LP	Commodity Energy	-$229M	-12.8%
3	XOVR	ERShares Private-Public Crossover ETF	Equity Thematic	-$149M	-8.1%
4	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$2.7B	-6.4%
5	XNTK	State Street SPDR NYSE Technology ETF	Other	-$100M	-5.1%
6	ETHU	2x Ether ETF	Other	-$60M	-5.1%
7	KBE	State Street SPDR S&P Bank ETF	Other	-$82M	-5.0%
8	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$2.04B	-4.8%
9	EWH	iShares MSCI Hong Kong ETF	Other	-$48M	-3.8%
10	HYG	iShares iBoxx $ High Yield Corporate Bond ETF	Bond High Yield Corporate	-$581M	-3.5%

Asset allocation rotation · Past month

Equity ETFs drew the largest net inflows (+$47.7B), followed by Bond (+$17.6B), while Real Estate (−$101M) saw the largest outflows.
Within the mix, money rotated into US Nasdaq Growth (+$17.6B) and out of Intermediate Treasury (−$8.0B).
Relative to fund size, CNEQ drew the largest inflow (+104.0% of AUM) and PKW the largest outflow (−30.8%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	+$21.73B	+2.1%
2	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$14.48B	+3.0%
3	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$6.04B	+5.9%
4	TLT	iShares 20+ Year Treasury Bond ETF	Bond Long Treasury	+$5.35B	+11.6%
5	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$5.29B	+3.1%
6	GLD	SPDR Gold Shares	Commodity Gold	+$4.82B	+3.3%
7	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$4.44B	+0.6%
8	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$3.66B	+3.4%
9	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$3.41B	+18.2%
10	VGSH	Vanguard Short-Term Treasury ETF	Bond Short Treasury	+$3.25B	+10.7%

#	Ticker	Name	Type	Net flow	% of AUM
1	CNEQ	Alger Concentrated Equity ETF	Other	+$1.21B	+104.0%
2	USMC	Principal U.S. Mega-Cap ETF	Other	+$1.41B	+32.0%
3	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$455M	+31.1%
4	BFLX	iShares Flexible Equity Active ETF	Other	+$457M	+27.0%
5	ZROZ	PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund	Other	+$337M	+25.2%
6	NULV	Nuveen ESG Large-Cap Value	Other	+$564M	+24.8%
7	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$387M	+24.7%
8	BKGI	BNY Mellon Global Infrastructure Income ETF	Other	+$316M	+23.7%
9	ETHA	iShares Ethereum Trust ETF	Crypto	+$1.25B	+21.8%
10	FLTW	Franklin FTSE Taiwan ETF	Other	+$714M	+20.3%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	-$8.96B	-1.0%
2	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$5.28B	-12.3%
3	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	-$4.64B	-0.6%
4	XLF	State Street Financial Select Sector SPDR ETF	Equity Broad Sector	-$4.08B	-7.0%
5	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	-$3.57B	-8.3%
6	SMH	VanEck Semiconductor ETF	Equity Industry Subsector	-$2.48B	-3.5%
7	SDY	State Street SPDR S&P Dividend ETF	Equity Dividend Income	-$1.86B	-8.4%
8	GOVT	iShares U.S. Treasury Bond ETF	Bond Intermediate Treasury	-$1.73B	-4.0%
9	VGIT	Vanguard Intermediate-Term Treasury ETF	Bond Intermediate Treasury	-$1.33B	-3.1%
10	XLK	State Street Technology Select Sector SPDR ETF	Equity Broad Sector	-$1.31B	-1.1%

#	Ticker	Name	Type	Net flow	% of AUM
1	PKW	Invesco BuyBack Achievers ETF	Other	-$547M	-30.8%
2	SPHD	Invesco S&P 500 High Dividend Low Volatility ETF	Other	-$632M	-18.4%
3	SNXX	Tradr 2X Long SNDK Daily ETF	Other	-$322M	-18.0%
4	TAN	Invesco Solar ETF	Other	-$237M	-17.9%
5	XNTK	State Street SPDR NYSE Technology ETF	Other	-$315M	-14.3%
6	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$144M	-14.1%
7	SPYD	State Street SPDR Portfolio S&P 500 High Dividend ETF	Other	-$1.06B	-13.8%
8	USO	United States Oil Fund, LP	Commodity Energy	-$253M	-13.1%
9	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$5.28B	-12.3%
10	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$891M	-11.0%

Asset allocation rotation · Past 3 months

Equity ETFs drew the largest net inflows (+$156.3B), followed by Bond (+$59.9B), while Crypto (−$775M) saw the largest outflows.
Within the mix, money rotated into US Large Cap Core (+$35.4B) and out of Intermediate Treasury (−$3.7B).
Relative to fund size, BFLX drew the largest inflow (+131.8% of AUM) and VLUE the largest outflow (−47.2%).

Largest inflows

#	Ticker	Name	Type	Net flow	% of AUM
1	SPYM	State Street SPDR Portfolio S&P 500 ETF	Equity US Large Cap Core	+$20.35B	+12.8%
2	SPY	State Street SPDR S&P 500 ETF	Equity US Large Cap Core	+$16.19B	+2.1%
3	DRAM	Roundhill Memory ETF	Other	+$15.83B	+66.2%
4	SGOV	iShares 0-3 Month Treasury Bond ETF	Cash	+$15.24B	+15.5%
5	VTI	Vanguard Morningstar Total Stock Market ETF	Equity US Total Market	+$14.23B	+2.1%
6	IVV	iShares Core S&P 500 ETF	Equity US Large Cap Core	+$14.14B	+1.6%
7	QQQM	Invesco NASDAQ 100 ETF	Equity US Nasdaq Growth	+$10.08B	+10.1%
8	SCHD	Schwab U.S. Dividend Equity ETF	Equity Dividend Income	+$9.84B	+9.8%
9	SOXX	iShares Semiconductor ETF	Equity Industry Subsector	+$9.79B	+22.4%
10	QQQ	Invesco QQQ Trust, Series 1	Equity US Nasdaq Growth	+$9.47B	+2.0%

#	Ticker	Name	Type	Net flow	% of AUM
1	BFLX	iShares Flexible Equity Active ETF	Other	+$2.06B	+131.8%
2	ACYN	FT Vest Laddered Autocallable Barrier & Income ETF	Other	+$1.14B	+98.0%
3	DRAM	Roundhill Memory ETF	Other	+$15.83B	+66.2%
4	FINA	Fidelity MSCI North American Subset Index ETF	Other	+$794M	+64.9% ⚠
5	SNXX	Tradr 2X Long SNDK Daily ETF	Other	+$1.46B	+58.4% ⚠
6	FLKR	Franklin FTSE South Korea ETF	Other	+$743M	+57.0%
7	ARKQ	ARK Autonomous Technology & Robotics ETF	Equity Thematic	+$1.13B	+55.4% ⚠
8	CBOX		Other	+$564M	+47.0%
9	AVLV	Avantis U.S. Large Cap Value ETF	Other	+$8.05B	+46.6%
10	IALT	iShares Systematic Alternatives Active ETF	Equity Asset Allocation	+$2.36B	+46.2%

Largest outflows

#	Ticker	Name	Type	Net flow	% of AUM
1	VOO	Vanguard S&P 500 ETF	Equity US Large Cap Core	-$15.27B	-1.5%
2	IEF	iShares 7-10 Year Treasury Bond ETF	Bond Intermediate Treasury	-$5.47B	-11.6%
3	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.62B	-47.2%
4	IQMM	ProShares - GENIUS Money Market ETF	Other	-$2.75B	-14.3%
5	IGV	iShares Expanded Tech-Software Sector ETF	Equity Industry Subsector	-$2.56B	-18.4%
6	IWM	iShares Russell 2000 ETF	Equity US Small Cap Core	-$2.35B	-2.9%
7	IAU	iShares Gold Trust	Commodity Gold	-$2.25B	-3.6%
8	XLE	State Street Energy Select Sector SPDR ETF	Equity Broad Sector	-$2.04B	-5.3%
9	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.94B	-21.4%
10	VO	Vanguard Morningstar Mid-Cap ETF	Equity US Mid Cap Core	-$1.9B	-1.8%

#	Ticker	Name	Type	Net flow	% of AUM
1	VLUE	iShares MSCI USA Value Factor ETF	Equity Factor Smart Beta	-$4.62B	-47.2%
2	FTXL	First Trust Nasdaq Semiconductor ETF	Other	-$955M	-41.2%
3	NASA	Tema Space Innovators ETF	Equity Thematic	-$433M	-35.1%
4	FXI	iShares China Large-Cap ETF	Equity Emerging Markets	-$1.27B	-29.3%
5	TAN	Invesco Solar ETF	Other	-$434M	-27.9%
6	IYM	iShares U.S. Basic Materials ETF	Equity Broad Sector	-$330M	-27.8%
7	PSI	Invesco Semiconductors ETF	Other	-$600M	-23.2%
8	LCTU	iShares U.S. Carbon Transition Readiness Aware Active ETF	Other	-$274M	-21.8%
9	EWZ	iShares MSCI Brazil ETF	Equity Emerging Markets	-$1.94B	-21.4%
10	RING	iShares MSCI Global Gold Miners ETF	Equity Industry Subsector	-$461M	-20.1%

Largest ETF fund flows across ~2627 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 XBI

Holdings Count: 155
Expense Ratio: 0.35%
Inception Date: 2006-01-31

State Street SPDR S&P Biotech ETF
SPDR Series Trust - State Street SPDR S&P Biotech ETF is an exchange traded fund launched by State Street Global Advisors, Inc. The fund is managed by SSGA Funds Management, Inc. It invests in public equity markets of the United States. It invests in stocks of companies operating across health care, pharmaceuticals, biotechnology and life sciences sectors. The fund invests in growth and value stocks of companies across diversified market capitalization. It seeks to track the performance of the S&P Biotechnology Select Industry Index, by using representative sampling technique. SPDR Series Trust - State Street SPDR S&P Biotech ETF was formed on January 31, 2006 and is domiciled in the United States.
Asset Class: Equity | ETF Website

	Title	Date
0	DASHBOARDS
1	These Funds Are Suddenly Outperforming Themselves	07/17/2026
2	XBI Ignored The Market's Downturn	06/27/2026

	Title
0	ARTICLES

Recent Active Movers

Top Gainers

Ticker	Company	Category	1D Rtn	YTD Rtn
PALL	ETFS Physical Palladium Shares	Commodity	4.9%	-11.3%
XLC	State Street Communication Services S...	Equity	1.4%	-3.7%
XLY	State Street Consumer Discretionary S...	Equity	1.1%	-1.6%
KWEB	KraneShares CSI China Internet ETF	Equity	0.8%	-22.7%
AKRE	Akre Focus ETF	Equity	0.8%	-5.6%
FXI	iShares China Large-Cap ETF	Equity	0.8%	-7.3%
MAGS	Roundhill Magnificent Seven ETF	Equity	0.7%	4.7%
XLE	State Street Energy Select Sector SPD...	Equity	0.6%	41.1%
COWZ	Pacer US Cash Cows 100 ETF	Equity	0.5%	20.7%
XLP	State Street Consumer Staples Select ...	Equity	0.4%	10.6%

Top Losers

Ticker	Company	Category	1D Rtn	YTD Rtn
URA	Global X Uranium ETF	Equity	-5.8%	6.6%
SLV	iShares Silver Trust	Commodity	-4.4%	-6.8%
RING	iShares MSCI Global Gold Miners ETF	Equity	-3.9%	18.8%
SOXQ	Invesco PHLX Semiconductor ETF	Equity	-3.5%	62.1%
XBI	State Street SPDR S&P Biotech ETF	Equity	-3.5%	33.2%
SMH	VanEck Semiconductor ETF	Equity	-3.5%	53.6%
GLDM	SPDR Gold MiniShares Trust	Commodity	-3.3%	3.3%
GLD	SPDR Gold Trust	Commodity	-3.2%	3.2%
IAU	iShares Gold Trust	Commodity	-3.2%	3.3%
SOXX	iShares Semiconductor ETF	Equity	-3.2%	69.0%

Top Gainers

Ticker	Company	Category	1W Rtn	YTD Rtn
IGV	iShares Expanded Tech-Software Sector...	Equity	5.9%	3.6%
PALL	ETFS Physical Palladium Shares	Commodity	5.5%	-11.3%
UNG	United States Natural Gas Fund LP	Commodity	3.4%	-15.7%
MAGS	Roundhill Magnificent Seven ETF	Equity	2.7%	4.7%
AKRE	Akre Focus ETF	Equity	2.2%	-5.6%
EDV	Vanguard World Funds Extended Duratio...	Bond	1.9%	-4.3%
XOVR	EntrepreneurShares Series Trust ERSha...	Equity	1.8%	2.8%
XLC	State Street Communication Services S...	Equity	1.4%	-3.7%
EWZ	iShares MSCI Brazil ETF	Equity	1.4%	11.9%
VGT	Vanguard Information Technology ETF	Equity	1.4%	27.7%

Top Losers

Ticker	Company	Category	1W Rtn	YTD Rtn
NASA	Tema Space Innovators ETF	Equity	-5.0%	-7.0%
SLV	iShares Silver Trust	Commodity	-4.3%	-6.8%
RING	iShares MSCI Global Gold Miners ETF	Equity	-3.7%	18.8%
USO	United States Oil Fund LP	Commodity	-3.7%	87.5%
IAU	iShares Gold Trust	Commodity	-3.4%	3.3%
GLD	SPDR Gold Trust	Commodity	-3.4%	3.2%
GLDM	SPDR Gold MiniShares Trust	Commodity	-3.4%	3.3%
PPLT	ETFS Physical Platinum Shares	Commodity	-3.1%	-11.5%
GDE	WisdomTree Efficient Gold Plus Equity...	Equity	-3.0%	-2.8%
ARKX	ARK Space & Defense Innovation ETF	Equity	-2.7%	-7.3%

Top Gainers

Ticker	Company	Category	1M Rtn	YTD Rtn
RING	iShares MSCI Global Gold Miners ETF	Equity	32.9%	18.8%
ETHA	iShares Ethereum Trust ETF	Cryptocurrency	26.6%	-18.1%
FBTC	Fidelity Wise Origin Bitcoin Fund	Cryptocurrency	19.7%	-11.5%
IBIT	iShares Bitcoin Trust ETF	Cryptocurrency	19.6%	-11.6%
IGV	iShares Expanded Tech-Software Sector...	Equity	17.4%	3.6%
ARKK	ARK Innovation ETF	Equity	16.0%	10.0%
URA	Global X Uranium ETF	Equity	14.7%	6.6%
ARKW	ARK Next Generation Internet ETF	Equity	12.3%	5.0%
SLV	iShares Silver Trust	Commodity	12.2%	-6.8%
EWY	iShares MSCI South Korea ETF	Equity	11.8%	85.4%

Top Losers

Ticker	Company	Category	1M Rtn	YTD Rtn
KWEB	KraneShares CSI China Internet ETF	Equity	-6.2%	-22.7%
XLU	State Street Utilities Select Sector ...	Equity	-4.3%	0.8%
USRT	iShares Core U.S. REIT ETF	Real Estate	-3.1%	16.5%
REET	iShares Global REIT ETF	Real Estate	-3.0%	11.5%
FXI	iShares China Large-Cap ETF	Equity	-2.8%	-7.3%
SCHH	Schwab U.S. REIT ETF	Real Estate	-2.7%	14.3%
EWZ	iShares MSCI Brazil ETF	Equity	-2.7%	11.9%
VNQ	Vanguard Real Estate ETF	Real Estate	-2.3%	12.0%
ITA	iShares U.S. Aerospace & Defense ETF	Equity	-2.2%	8.5%
IYR	iShares U.S. Real Estate ETF	Real Estate	-2.1%	10.5%

Peer Comparisons

Peers to compare with:

Profile

	XBI	SMH	SOXX	IBB	ITA	XOP	Median
Name	State Stre.	VanEck Sem.	iShares Se.	iShares Bi.	iShares U..	State Stre.
Asset Class	Equity	Equity	Equity	Equity	Equity	Equity	-
AUM ($ Bil)	12.0	67.6	41.7	10.5	13.9	3.9	13.0
Expense Ratio	0.35%	0.35%	0.33%	0.44%	0.37%	0.35%	0.35%
10-D Avg Volume (Mil)	8.75	10.73	9.58	1.55	0.78	3.44	6.10
Latest Day Volume (Mil)	1.16	2.03	3.34	0.29	-	0.25	1.16
Holdings Count	155	26	30	247	48	51	50
Inception Date	1/31/2006	12/20/2011	7/9/2001	2/4/2001	4/30/2006	6/19/2006	-

Fundamentals

	XBI	SMH	SOXX	IBB	ITA	XOP	Median
Name	State Stre.	VanEck Sem.	iShares Se.	iShares Bi.	iShares U..	State Stre.
Net Asset Value	168.23	553.12	508.44	208.98	232.77	185.42	-
Premium/Discount	-3.5%	-0.0%	0.0%	-0.0%	0.0%	0.3%	0.0%
Distribution Yield	0.4%	0.2%	0.3%	0.2%	0.0%	1.7%	0.2%
Sales Yield	8.3%	7.7%	8.1%	12.0%	30.5%	117.5%	10.1%
Earnings Yield	1.2%	2.6%	2.3%	1.8%	2.7%	7.7%	2.4%

Valuation

	XBI	SMH	SOXX	IBB	ITA	XOP	Median
Name	State Stre.	VanEck Sem.	iShares Se.	iShares Bi.	iShares U..	State Stre.
P/S (TTM)	12.1x	12.9x	12.4x	8.3x	3.3x	0.9x	10.2x
P/E (TTM)	80.4x	39.1x	44.3x	54.8x	37.4x	12.9x	41.7x
P/FCF (TTM)	-	47.3x	51.7x	-	39.4x	15.9x	43.3x
Forward P/E	65.4x	-	-	-	31.1x	10.6x	31.1x
Forward P/S	8.2x	-	-	-	3.0x	0.8x	3.0x

Risk

	XBI	SMH	SOXX	IBB	ITA	XOP	Median
Name	State Stre.	VanEck Sem.	iShares Se.	iShares Bi.	iShares U..	State Stre.
Volatility (1Y)	28.0%	39.3%	45.3%	21.8%	23.0%	29.0%	28.5%
Volatility (3Y)	27.9%	36.8%	39.4%	20.9%	20.1%	28.2%	28.1%
Volatility (5Y)	32.4%	36.7%	38.5%	22.2%	20.3%	33.4%	32.9%
Beta (1Y)	1.05	2.39	2.60	0.78	1.03	-0.32	1.04
Beta (3Y)	1.03	1.97	2.05	0.82	0.85	0.66	0.94
Beta (5Y)	1.16	1.76	1.82	0.86	0.81	0.85	1.01
Sharpe Ratio (1Y)	2.25	1.78	1.79	2.00	0.81	1.40	1.79
Sharpe Ratio (3Y)	1.01	1.36	1.16	0.90	1.30	0.51	1.08
Sharpe Ratio (5Y)	0.34	1.00	0.85	0.32	0.93	0.79	0.82
Max Drawdown (1Y)	-10.5%	-24.6%	-29.0%	-9.6%	-15.8%	-18.7%	-17.3%
Max Drawdown (3Y)	-33.0%	-35.7%	-41.4%	-24.9%	-15.8%	-35.0%	-34.0%
Max Drawdown (5Y)	-54.0%	-45.3%	-45.8%	-39.7%	-18.7%	-35.0%	-42.5%

Returns

	XBI	SMH	SOXX	IBB	ITA	XOP	Median
Name	State Stre.	VanEck Sem.	iShares Se.	iShares Bi.	iShares U..	State Stre.
1M Return	7.2%	2.6%	0.8%	10.0%	-2.2%	6.3%	4.5%
3M Return	18.8%	-7.7%	-10.6%	21.4%	-1.1%	13.4%	6.1%
6M Return	27.5%	36.1%	44.5%	19.2%	-4.4%	21.4%	24.5%
YTD Return	33.2%	53.6%	69.0%	23.9%	8.5%	47.9%	40.5%
1Y Return	80.5%	86.4%	103.2%	51.1%	17.4%	44.1%	65.8%
2Y Return	60.6%	124.4%	120.5%	42.0%	62.6%	39.4%	61.6%
3Y Return	107.0%	267.0%	211.1%	64.6%	105.8%	36.9%	106.4%

Short Interest

Short Interest: As Of Date	8142026
Short Interest: Shares Quantity	77.1 Mil
Short Interest: % Change Since 7312026	-2.2%
Average Daily Volume	7.4 Mil
Days-to-Cover Short Interest	10.4 days

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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State Street SPDR S&P Biotech ETF (XBI)

Market Price (8/31/2026): $160.15

State Street SPDR S&P Biotech ETF (XBI)

Market Price (8/31/2026): $160.15

Key Takeaways

Price Chart

Asset Allocation with XBI

Valuation & Yield

Top 20 Holdings for XBI

Performance for XBI Top Holdings

Guidance Updates for XBI 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

XBI 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

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Stay Informed

Trade & Investment Ideas

Wealth

Alert Me Periodically

Inform Me Once

About XBI

Latest Trefis Analyses

Recent Active Movers

Top Gainers

Top Losers

Top Gainers

Top Losers

Top Gainers

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