XHE: STATE STREET(R) SPDR(R) S&P(R) HEALTH CARE EQUIPMENT ETF
Share-split context: A forward split was recorded on Sep 11, 2015 with coefficient 2. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.
What this ETF is trying to do
The STATE STREET(R) SPDR(R) S&P(R) HEALTH CARE EQUIPMENT ETF (XHE) is designed to invest in companies that create and sell medical equipment and healthcare tools. It holds a total of 74 different companies. Because it focuses on a specific part of the healthcare industry, it allows investors to gain exposure to medical technology and equipment providers.
What the numbers show
The current price of XHE is $88.30. When looking at how the price has changed over time, the data shows the following split-adjusted returns:
• Year-to-Date (YTD): The price return is 8.29%.
• One Year: The price return is 11.48%, while the total return (which includes distributions) is 11.51%.
• Three Year: The price return is 16.56%, and the total return is 16.74%.
• Five Year: The total return is -29.45%.
XHE has a history of a forward share split. On September 11, 2015, the fund had a split with a coefficient of 2. This means each old share became two new shares, and the price per share fell proportionally. This split did not create a gain or a loss; it only changed the number of shares.
Income and distribution explanation
XHE provides a distribution yield of approximately 2.46%. However, it is important to note that distributions are "irregular or less frequent." In the last 12 months, there was only one payout.
For new investors, it is important to remember that a distribution yield is not the same as a total return. While distributions provide cash income, they do not guarantee that the original investment value will stay the same.
NAV erosion explanation
The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.
Looking at price-based evidence, XHE has an erosion score of 100, and the erosion label states "No price erosion detected." The erosion severity is listed as "good," and there is no severe erosion-risk flag.
Top Holdings
The holdings for XHE can change over time. As of October 8, 2026, some of the top holdings include:
• BFLY: 1.91%
• ALPHATEC HOLDINGS INC (ATEC): 1.83%
• INTUITIVE SURGICAL INC (ISRG): 1.83%
• STRIVE INC CLASS A (ASST): 1.75%
• BETA BIONICS INC (BBNX): 1.73%
Pros
• Positive price and total returns over the one-year and three-year periods.
• No price erosion detected according to the erosion score.
• Provides exposure to a wide variety of healthcare equipment companies.
Cons
• The five-year total return is negative (-29.45%).
• Distributions are irregular and infrequent.
Beginner takeaway
XHE is a fund for those interested in medical equipment. While it has seen growth over the last three years, its long-term five-year return has been negative. It pays some income, but the payouts are not regular. Investors should look at the total return rather than just the distribution yield to see the full picture.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | n/a | BFLY | 1.91% |
| 2 | ALPHATEC HOLDINGS INC | ATEC | 1.83% |
| 3 | INTUITIVE SURGICAL INC | ISRG | 1.83% |
| 4 | STRIVE INC CLASS A | ASST | 1.75% |
| 5 | BETA BIONICS INC | BBNX | 1.73% |
| 6 | NEOGEN CORP | NEOG | 1.71% |
| 7 | UFP TECHNOLOGIES INC | UFPT | 1.69% |
| 8 | ATRICURE INC | ATRC | 1.68% |
| 9 | INSPIRE MEDICAL SYSTEMS INC | INSP | 1.66% |
| 10 | LEMAITRE VASCULAR INC | LMAT | 1.65% |