What Is XLV? Health Care Select Sector SPDR Fund
Short answer
XLV is the Health Care Select Sector SPDR Fund, a fund that tracks the healthcare sector of the S&P 500 at a 0.08% expense ratio. It holds the large US pharma, biotech, insurer, device, and equipment companies (LLY, UNH, JNJ), so it is a sector bet on healthcare rather than a broad-market core. Versus VOO, XLV strips out everything except healthcare, which makes it more defensive and less tech-driven than the overall market.
What does XLV hold? (top 10)
Approximate weights as of early 2026; refresh quarterly from the issuer's fund page. Tickers link to the individual stock guide in Walnut.
The bottom line on XLV
XLV is a low-cost way to express a sector view on US healthcare in one ticker, spanning pharma, insurers, devices, and equipment. It works as a defensive sector tilt sized around a broad core like VOO, not as a diversified holding, and it tends to behave differently from technology-led benchmarks.
Build a portfolio around XLV with Walnut
Use XLV as your core holding, then let Walnut's AI propose thematic satellites: AI infrastructure, dividend growth, clean energy, whatever you believe in. Connect your broker, build the basket in conversation, track it as one unit.
FAQ
What is XLV?
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XLV is the Health Care Select Sector SPDR Fund, a single ticker that holds the healthcare sector of the S&P 500: large US pharmaceutical, biotech, managed-care, medical device, and life-science companies. It is a sector fund, so it tracks healthcare rather than the broad market.
What is XLV's expense ratio?
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0.08% per year (8 basis points) as of early 2026. On a $10,000 investment, that is about $8 per year in fees, low for a sector ETF. Verify the current figure on the State Street site.
What companies are in XLV?
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The healthcare names of the S&P 500, led by Eli Lilly, UnitedHealth, Johnson & Johnson, AbbVie, Merck, Abbott, Thermo Fisher, Intuitive Surgical, Amgen, and Pfizer. The mix spans pharma, insurers, devices, and life-science tools. Weights are approximate, verify on the issuer's site.
XLV vs VOO: what's the difference?
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VOO holds all 11 sectors of the S&P 500. XLV holds only the healthcare sector. XLV is a concentrated sector bet that tends to be more defensive and less technology-driven, while VOO is diversified across the whole index. Walnut is not an investment adviser, so this is not a recommendation.
Is XLV a defensive sector?
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Healthcare is often considered defensive because demand for medical care and drugs is relatively steady through the economic cycle. That can make XLV hold up better than cyclical sectors in downturns, though it carries its own risks from drug pricing policy, patent expirations, and regulation.
Does XLV pay a dividend?
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Yes, quarterly. The trailing yield is approximately 1.6% as of early 2026, drawn from the dividends of large pharma and healthcare companies, many of which are established dividend payers.
What drives XLV?
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XLV is influenced by drug approvals and pipelines, healthcare policy and drug-pricing legislation, managed-care enrollment and costs, and broad demographic demand for healthcare. Policy headlines can move the sector independently of the overall market.
What is XLV's AUM?
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Approximately $38 billion as of early 2026, which makes it one of the largest sector ETFs. The exact figure moves with markets and flows, so verify on the State Street site.
When was XLV created?
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December 1998. XLV is one of the original Select Sector SPDR funds and is the standard vehicle for large-cap US healthcare exposure.
How do I buy XLV?
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XLV trades like any stock during US market hours. Buy it through any broker: Robinhood, Fidelity, Schwab, Public, M1, or others. Fractional shares are supported at most modern brokers. Connect your broker to Walnut and the AI can show how a healthcare tilt like XLV fits with your core.
Is XLV a good investment?
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XLV gives a low-cost, relatively defensive bet on US healthcare. Whether it fits depends on your view of the sector, your time horizon, and what else you own. Walnut is not an investment adviser, so this is not a recommendation.
Related ETFs
Walnut is informational, not investment advice. Holdings weights and fund statistics on this page are approximations stamped to early 2026; verify current figures against State Street SPDR's fund page or your broker before investing.