State Street SPDR S&P Biotech ETF
XBI SectorUpdated: Jul 4, 2026, 21:17 UTC
Key Metrics
Top 10 Holdings
| Holding | Ticker | Weight | Bar |
|---|---|---|---|
| Travere Therapeutics Inc Ordinary Shares | TVTX | 1.79% | |
| Revolution Medicines Inc Ordinary Shares | RVMD | 1.78% | |
| Alkermes PLC | ALKS | 1.71% | |
| Twist Bioscience Corp | TWST | 1.6% | |
| TG Therapeutics Inc | TGTX | 1.52% | |
| Arrowhead Pharmaceuticals Inc | ARWR | 1.51% | |
| Beam Therapeutics Inc | BEAM | 1.42% | |
| Neurocrine Biosciences Inc | NBIX | 1.37% | |
| Krystal Biotech Inc | KRYS | 1.36% | |
| Exelixis Inc | EXEL | 1.36% |
Sector Allocation
About This ETF
The State Street SPDR S&P Biotech ETF (XBI) is a Sector ETF with an expense ratio (TER) of 0.35% and $8.4B in assets under management., with its largest holdings being Travere Therapeutics Inc Ordinary Shares, Revolution Medicines Inc Ordinary Shares, Alkermes PLC. The ETF currently yields 0.32% in dividends. Year-to-date, XBI has returned +32.17%.
In seeking to track the performance of the S&P Biotechnology Select Industry Index (the "index"), the fund employs a sampling strategy. It generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index represents the biotechnology segment of the S&P Total Market Index ("S&P TMI").
FAQ — XBI
What is the TER of XBI (State Street SPDR S&P Biotech ETF)?
XBI has a Total Expense Ratio (TER) of 0.35 % per year. That sits above the sector category median (0.08 % across 13 peer ETFs). The TER is deducted directly from the fund and lowers your effective return.
What return has XBI delivered?
Performance for XBI: YTD: +32.17 % · 3-year p.a.: +24.86 % · 5-year p.a.: +3.41 %. Over 5 years, XBI underperforms the sector category median of +7.03 % by -3.62 pp. Past performance is no guarantee of future returns.
What are the top holdings of XBI?
The five largest positions in XBI are: TVTX, RVMD, ALKS, TWST, TGTX. The full holdings list is updated daily on this page.
Does XBI pay dividends?
XBI has a current dividend yield of 0.32 %. Distributing ETFs pay this out in cash; accumulating versions reinvest it inside the fund. Check the share class on your broker before buying.
Where can I buy or set up a savings plan for XBI?
XBI is available at most major brokers. For a free monthly savings plan from €1, look at Trade Republic, Scalable Capital or Flatex. The broker comparison on this site shows fees, free-savings-plan ETFs and execution exchanges side by side.
What is the State Street SPDR S&P Biotech ETF (XBI)?
The XBI tracks the S&P Biotechnology Select Industry Index, capturing the biotechnology segment of the US equity market. Unlike cap-weighted funds, it uses a modified equal-weight methodology, giving small- and mid-cap biotech names heavy representation. With roughly 99.8 % in healthcare, it is a highly concentrated sector ETF. Carrying a 0.35 % expense ratio and $8.3B in assets, it ranks among the best-known vehicles for targeted biotech exposure.
Performance in context
The XBI is up 11.91 % year to date, while its annualized three-year return stands at 17.04 %. Over five years the return is far weaker at just 1.0 % per year, reflecting the pronounced cycles of the biotech industry. The price trades near its 52-week high of $139.19, with the 52-week low at $78.06 — a range that underscores the elevated volatility.
Key drivers include US drug-approval decisions, clinical trial data, merger and acquisition activity, and the interest-rate environment, since capital-intensive research companies are especially rate-sensitive. The 0.34 % dividend yield is negligible; this ETF lives on capital appreciation.
Risk profile
The XBI is a single-sector ETF with about 99.8 % weight in healthcare. That concentration means industry-wide setbacks — failed trials, regulatory intervention, or healthcare-pricing pressure — hit the entire portfolio. Equal weighting further amplifies smaller, often unprofitable biotech firms whose shares react sharply to single news items.
- Concentration risk: no diversification across sectors.
- Volatility: binary trial outcomes can halve individual stocks overnight.
- Rate sensitivity: rising rates weigh on growth-oriented biotech names.
- Currency risk: the ETF is priced in US dollars. For euro-area investors a weaker dollar can erode returns, while a stronger one can boost them.
Who is the XBI suitable for?
The XBI suits investors with a long horizon, high risk tolerance, and a clear conviction in the growth potential of biotechnology. It works as a targeted satellite position within an otherwise broadly diversified portfolio, capturing innovation in gene therapy, oncology, and rare diseases. Those seeking to benefit from acquisition waves and new treatment modalities will find a liquid instrument here.
It is not suitable for safety- or income-oriented investors: the 0.34 % dividend yield is minimal, and swings far exceed those of a broad market index. The XBI is also unsuitable as a sole portfolio holding or for short time horizons, as drawdowns of 50 % or more have occurred historically.
How it compares to peers
Within the biotech and healthcare space, the XBI competes with several alternatives:
- iShares Biotechnology ETF (IBB): market-cap weighted, concentrating more on large, profitable firms such as Amgen or Gilead — more defensive, but with less leverage to small innovators.
- ARK Genomic Revolution ETF (ARKG): actively managed and thematically focused on genomics; higher concentration and manager risk.
- Health Care Select Sector SPDR (XLV): far broader, spanning pharma, medical devices, and insurers — lower volatility, but less pure biotech exposure.
The XBI’s equal weighting makes it more aggressive and more tilted toward the small-cap segment than most of its competitors.
Where can I buy XBI?
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