State Street SPDR S&P Health Care Equipment ETF (XHE) is a healthcare and biotech ETF. As of October 9, 2026, ETF Copilot scores XHE 2.6 out of 10 — highest on Value (9.5), lowest on Quality (0.5). It trades at 28.2 times earnings, against its own median of 35.3. Its ten largest holdings are 18% of the fund.
What stands out in XHE's data
U.S. health care equipment manufacturers, from surgical tools to hospital supplies.
Priced a touch above the typical health-equipment peer — but still well below its own history, so the premium looks modest.
Trailing P/E multiple of 28.2x sits above the peer median of 27.7x, yet well below its own five-year median of 35.5x. A 3Y Sharpe of 0.2 reflects choppy recent returns.
A satellite sleeve for health care, focused on the equipment makers that supply hospitals.
Why did XHE move this week? It rose 0.7% in the week to October 9, 2026 — Quidelortho and Haemonetics Corp Mass drove it
XHE rose 0.7% in the week to October 9, 2026. The holdings that moved it most were Quidelortho (+24.6%), Haemonetics Corp Mass (+13.4%) and Pulse Biosciences (+12.3%); Anteris Technologies Global (−12.2%) pushed the other way.
How is XHE rated? ETF Copilot scores State Street SPDR S&P Health Care Equipment ETF (XHE) 2.6 out of 10
As of October 9, 2026, ETF Copilot scores State Street SPDR S&P Health Care Equipment ETF (XHE) 2.6 out of 10 overall.
ETF Copilot scores (0–10 scale, higher is better):
- Overall: 2.6 / 10
- Growth: 1.5 / 10
- Value: 9.5 / 10
- Risk: 1.7 / 10
- Quality: 0.5 / 10
- Return: 1.0 / 10
Is XHE expensive right now? It trades at 28.2 times earnings, against its own median of 35.3
As of October 9, 2026, XHE is cheaper than 89% of its own last 9 years.
Trailing 12 months, built from XHE's holdings. How we calculate this →
What's inside XHE?
What's inside XHE: Size (Large 18%, Mid 24%, Small 58%); Geography (International 8%, US 93%).
What are XHE's top holdings? The ten largest are 18% of the fund
Intuitive Surgical, Haemonetics Corp Mass, Alphatec, Longview Acquisition, Strive, Medline, Omnicell, ResMed, UFP Technologies and Iradimed are XHE's largest holdings, in that order.
Less concentrated than 93% of Health & Biotech ETFs.
Half of XHE's weight sits in its 30 largest positions, and once those weights are taken into account it behaves like 67 equally weighted holdings.
What is XHE's expense ratio? 0.35% a year
As of October 9, 2026, XHE charges 0.35% a year and holds $174M in assets across 73 positions.
| Measure | XHE |
|---|---|
| Expense ratio | 0.35% |
| Assets under management | $174M |
| Holdings | 73 |
Expense ratio, dividend yield and assets under management are reported by the fund and refreshed daily. Every other figure on this page is computed by ETF Copilot.
Cite this
ETF Copilot, “State Street SPDR S&P Health Care Equipment ETF (XHE) scores and holdings analysis”, as of October 9, 2026.
https://etf-copilot.com/etf/xhe
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