Health Care Services vs the S&P 500 (XHS): is it outperforming?
Over the past month, XHS has outperformed the S&P 500 by 8.4 points. Here is where that puts it in the sector rotation — updated daily.
Where XHS sits on the rotation map
Health Care Services highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
XHS vs SPY: head-to-head returns
XHS (health care services) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means XHS won that window.
Data as of 2026-07-14 · computed from daily adjusted closes · how we measure
The read
Health Care Services (XHS) sits in the leading quadrant of the rotation map: it has decisively beaten the S&P 500 by 8.4 points over the past month, on top of a 9.3-point advantage over the longer, time-shifted window. Ranked by one-month spread, it currently stands #3 of the 115 groups Zensei tracks — inside the top tier of the market.
On the shorter tape, XHS's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. XHS's relative-strength line is holding around its moving averages — the trend is intact but no longer extending. The longer trend remains healthier than the recent tape suggests — the kind of divergence worth rechecking in a week.
The exposure comes via SPDR S&P Health Care Services ETF, whose 60 tracked holdings are led by n/a, n/a and n/a. Weighted by portfolio, the fund's holdings trade at roughly 49.9× earnings and 2.3× sales. The thing to watch from here is durability: leaders that hold their one-month spread while the longer window keeps building tend to stay leaders; a fading spread is the early exit signal.
What's inside XHS
Top 5 of 60 tracked holdings, by portfolio weight.
Health Care Services vs the market — common questions
Is health care services outperforming the S&P 500?
Right now, yes: over the past month XHS has outperformed the S&P 500 by 8.4 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is XHS?
XHS is SPDR S&P Health Care Services ETF, the fund Zensei uses to measure the health care services group against the S&P 500 benchmark (SPY).
Which stocks are in XHS?
XHS's largest tracked positions are n/a, n/a, n/a, ACADIA HEALTHCARE CO INC, PACS GROUP INC — 60 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is health care services in right now?
As of the latest daily data, health care services is in the leading quadrant — outperforming the S&P 500 on both the recent and the longer, time-shifted window. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track health care services against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.