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Outperformers#48 of 115 by 1M spread

Healthcare sector vs S&P 500 (XLV): is it outperforming?

Over the past month, XLV has outperformed the S&P 500 by 0.7 points. Here is where that puts it in the sector rotation — updated daily.

1M spread vs SPY
+0.7 pts
Quadrant
Outperformers
Momentum
Weakening
RS health
Holding
Holdings P/E
40.9×

Where XLV sits on the rotation map

Healthcare 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.

XLV vs SPY: head-to-head returns

XLV (healthcare) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means XLV won that window.

Window
XLV
SPY
Spread
1 week−0.5%+1.1%−1.6 pts
2 weeks+1.9%−0.2%+2.0 pts
1 month+5.0%+4.3%+0.7 pts
3 months+14.2%+2.4%+11.8 pts
6 months+8.0%+13.0%−5.0 pts
1 year+27.4%+20.6%+6.9 pts

Data as of 2026-08-27 · computed from daily adjusted closes · how we measure

The read

Healthcare (XLV) sits in the Outperformers quadrant of the rotation map: it has narrowly beaten the S&P 500 by 0.7 points over the past month, on top of a 10.6-point advantage over the longer, time-shifted window. Ranked by one-month spread, it currently stands #48 of the 115 groups Zensei tracks.

On the shorter tape, XLV's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. XLV'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 Health Care Select Sector SPDR, whose 59 tracked holdings are led by ELI LILLY AND CO, JOHNSON & JOHNSON and ABBVIE INC. Weighted by portfolio, the fund's holdings trade at roughly 40.9× earnings and 6.3× sales. The thing to watch from here is durability: outperformers that hold their one-month spread while the longer window keeps building tend to stay out front; a fading spread is the early exit signal.

What's inside XLV

Top 10 of 59 tracked holdings, by portfolio weight.

Holding
Weight
1M
LLYELI LILLY AND CO
15.8%−1.6%
JNJJOHNSON & JOHNSON
10.3%+0.4%
ABBVABBVIE INC
7.4%+0.5%
MRKMERCK & CO INC
5.9%+14.4%
UNHUNITEDHEALTH GROUP INC
5.6%−5.4%
AMGNAMGEN INC
3.8%+16.8%
TMOTHERMO FISHER SCIENTIFIC INC
3.7%+12.7%
ABTABBOTT LABORATORIES
3.2%+6.8%
GILDGILEAD SCIENCES INC
2.9%+14.1%
PFEPFIZER INC
2.5%+13.6%
49 more holdings — each measured against the sector, with momentum and relative strengthSee the full breakdown

Healthcare vs the market — common questions

Is healthcare outperforming the S&P 500?

Right now, yes: over the past month XLV has outperformed the S&P 500 by 0.7 points. This page updates daily, so the answer reflects current market data rather than a dated article.

What is XLV?

XLV is Health Care Select Sector SPDR, the fund Zensei uses to measure the healthcare group against the S&P 500 benchmark (SPY).

Which stocks are in XLV?

XLV's largest tracked positions are ELI LILLY AND CO, JOHNSON & JOHNSON, ABBVIE INC, MERCK & CO INC, UNITEDHEALTH GROUP INC — 59 holdings in total. The full list, with each stock measured against the group, is available with a free Zensei account.

What quadrant is healthcare in right now?

As of the latest daily data, healthcare is in the Outperformers 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 healthcare 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.