XBI
SPDR S&P BIOTECH ETF
SPDR S&P Biotech ETF seeks to replicate the performance of the S&P Biotechnology Select Industry Index, an equal-weighed index. The Index tracks all the US common stocks listed on the NYSE, Ame
US
EQUITY
Rules-Based
MANAGEMENT STYLE
6.3 B
ASSETS UNDER MGMT
35 bp
EXPENSES
Fund Basics
| Fund sponsor | SSGA Funds Management Inc |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jan 31, 2006 |
| Assets (mns) | $6,342 |
| Expense ratio | 35 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Equal |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| NATERA INC | 3.5 % |
| GILEAD SCIENCES INC | 3.0 % |
| INCYTE CORP | 2.9 % |
| UNITED THERAPEUTICS CORP | 2.9 % |
| ADVENTRX PHARMACEUTICALS INC | 2.8 % |
| NEUROCRINE BIOSCIENCES INC | 2.8 % |
| SAREPTA THERAPEUTICS INC | 2.7 % |
| INSMED INC | 2.6 % |
| VERTEX PHARMACEUTICALS INC | 2.6 % |
| EXACT SCIENCES CORP | 2.5 % |
Constituent Breakdown
| Number of holdings | 136 |
| Herfindahl-Hirschman Index | 158 |
| Wgt avg mkt cap (mns) | $25,630 |
| Large cap (>$10bn) | 39.6% |
| Mid cap ($2-10bn) | 37.6% |
| Small cap (<$2bn) | 22.0% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 96.2 % |
 |
SWITZERLAND | 1.5 % |
 |
IRELAND | 1.4 % |
 |
BRITAIN | 1.2 % |
Historical Performance
Standardized Performance (as of 11/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 15.9% | 37.0% | 11.3% | -3.8% | 2.1% | 5.8% | 10.2% | Volatility | 25.0% | 27.3% | 27.8% | 35.0% | 35.3% | 33.5% | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.96 | 37% |
| MSCI EAFE | 0.83 | 27% |
| MSCI Emg Mkts | 0.65 | 16% |
Liquidity Measures
| Avg. volume (000) | 8,718 |
| Turnover | 12.6% |
| Avg. Bid/Ask (% of price) | 0.01% |
| ADV of underlying (mns) | $10,031 |
Technical Indicators
| Recent close | $91.28 |
| 30d moving avg. | $96.51 |
| Annualized volatility | 27.8% |
| Relative strength (RSI) | 48 |
| Short interest (ETF) | 75.4% |
| Short interest (underlying) | 11.3% |
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. XBI |
Expenses vs. XBI |
ALTAR Score™ vs. XBI |
|---|---|---|---|---|
| IBBQ | Invesco Nasdaq Biotechnology ETF | 48.0% | -16 bp | +4.2% |
| BBP | Virtus LifeSci Biotech Products ETF | 46.7% | +44 bp | +3.3% |
| IBB | iShares Biotechnology ETF | 46.2% | +10 bp | +3.5% |
| FBT | First Trust NYSE Arca Biotechnology Index Fund | 39.9% | +21 bp | +6.4% |
| PBE | Invesco Biotechnology & Genome ETF | 37.8% | +23 bp | +0.8% |
| BBH | VanEck Biotech ETF | 32.0% | 0 bp | +9.1% |
| FTXH | First Trust Nasdaq Pharmaceuticals ETF | 30.3% | +25 bp | +13.4% |
| WDNA | WisdomTree BioRevolution Fund | 29.6% | +10 bp | -0.6% |
| HELX | Franklin Genomic Advancements ETF | 26.9% | +15 bp | +3.6% |
| BMED | Future Health ETF | 26.4% | +50 bp | +3.0% |
Risk and Returns: XBI 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
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| 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 12/20/2024
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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
XBI
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
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
XBI
-3.3%
Cat. Avg
5.6%
ALTAR Score™ Calculation
Category Overview
There are 977 funds in the US Equity category, with an average ALTAR Score™
of 5.6% and a standard deviation of
2.6%. XBI's ALTAR Score™ is approximately
3.4 standard deviations
below
the category average. This places XBI in the 1st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
XBISELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| XBI (35 bp) Percentile rank | 37 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| XBI | 35.0 | 1.4 | 36.4 |
| Peer Avg. | 37.3 | 15.0 | 52.3 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .