Healthcare Stocks
Top 10 of 60 XLV holdings, updated
As of 12 October 2026, healthcare stocks are among the strongest groups in the market, well ahead of the S&P 500. XLV beats the S&P 500 by 2.3 points over one month and ranks #11 of 115 groups Zensei tracks. 25 of the 60 healthcare stocks Zensei prices in XLV beat the fund this month.
Where healthcare stocks stand now
As of 12 October 2026, Healthcare (XLV) ranks #11 of the 115 groups Zensei tracks by one-month return against the S&P 500, inside the top tier of the market. It sits in the Outperformers quadrant of the rotation map: it has clearly beaten the S&P 500 by 2.3 points over the past month, on top of a 0.4-point advantage over the longer, time-shifted window.
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 — its price ratio against the S&P 500 — is trading above its moving averages, the healthiest configuration we track. 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 60 tracked holdings are led by Eli Lilly and Co, Johnson & Johnson and Abbvie Inc. Weighted by portfolio, the fund's holdings trade at roughly 30.8× earnings. 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.
Top healthcare stocks right now
The largest healthcare stocks by weight in XLV, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of XLV
- 1Eli Lilly and CoLLY15.5%
- 2Johnson & JohnsonJNJ10.1%
- 3Abbvie IncABBV7.8%
- 4Merck & Co IncMRK5.7%
- 5Unitedhealth Group IncUNH5.5%
Strongest this month
1-month return, holdings Zensei prices
- 1Moderna IncMRNA+48.5%
- 2Illumina IncILMN+34.0%
- 3Revvity IncRVTY+25.2%
- 4Mettler-Toledo International IncMTD+20.9%
- 5Agilent Technologies IncA+16.8%
Healthcare Stocks vs the S&P 500
Over the week to 12 October 2026, XLV rose 2.8% while the S&P 500 rose 0.4%. XLV and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means XLV won that window.
Prices as of · computed from daily adjusted closes · how we measure
Healthcare on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are healthcare stocks expensive?
The price-to-earnings ratio of XLV as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
XLV holdings: the healthcare stocks inside
As of 12 October 2026, 25 of the 60 healthcare stocks Zensei prices in XLV beat the fund over the past month. 35 of them beat the S&P 500. The strongest is Moderna Inc (MRNA); the weakest is Bristol-Myers Squibb Co (BMY). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | LLYEli Lilly and Co | 15.5% | +5.9% | +0.2% | +1.5 pts | Weak | Fading |
| 2 | JNJJohnson & Johnson | 10.1% | −0.6% | +2.9% | −5.0 pts | Weak | Broken |
| 3 | ABBVAbbvie Inc | 7.8% | +9.3% | +14.1% | +4.9 pts | Accelerating | Strong |
| 4 | MRKMerck & Co Inc | 5.7% | +1.7% | +18.0% | |||
| 5 | UNHUnitedhealth Group Inc | 5.5% | +0.3% | −11.4% | |||
| 6 | TMOThermo Fisher Scientific Inc | 4.0% | +8.7% | +25.4% | |||
| 7 | AMGNAmgen Inc | 3.6% | +10.7% | +16.5% | |||
| 8 | GILDGilead Sciences Inc | 3.0% | +5.3% | +15.1% | |||
| 9 | ABTAbbott Laboratories | 2.8% | −0.1% | +11.3% | |||
| 10 | PFEPfizer Inc | 2.6% | +2.5% | +18.1% |
All 60 XLV holdings by weight: Eli Lilly and Co (LLY) 15.5%, Johnson & Johnson (JNJ) 10.1%, Abbvie Inc (ABBV) 7.8%, Merck & Co Inc (MRK) 5.7%, Unitedhealth Group Inc (UNH) 5.5%, Thermo Fisher Scientific Inc (TMO) 4.0%, Amgen Inc (AMGN) 3.6%, Gilead Sciences Inc (GILD) 3.0%, Abbott Laboratories (ABT) 2.8%, Pfizer Inc (PFE) 2.6%, Intuitive Surgical Inc (ISRG) 2.4%, Danaher Corp (DHR) 2.2%, Vertex Pharmaceuticals Inc (VRTX) 2.1%, Bristol-Myers Squibb Co (BMY) 2.0%, Cvs Health Corp (CVS) 1.8%, Medtronic PLC (MDT) 1.8%, Mckesson Corp (MCK) 1.7%, Stryker Corp (SYK) 1.6%, Elevance Health Inc (ELV) 1.4%, The Cigna Group (CI) 1.2%, Moderna Inc (MRNA) 1.2%, Regeneron Pharmaceuticals Inc (REGN) 1.2%, Hca Healthcare Inc (HCA) 1.1%, Boston Scientific Corp (BSX) 1.0%, Cencora Inc (COR) 1.0%, Cardinal Health Inc (CAH) 0.9%, Becton Dickinson & Co (BDX) 0.8%, Edwards Lifesciences Corp (EW) 0.8%, Agilent Technologies Inc (A) 0.8%, Humana Inc (HUM) 0.8%, Waters Corp (WAT) 0.7%, Iqvia Holdings Inc (IQV) 0.7%, Veeva Systems Inc (VEEV) 0.7%, Illumina Inc (ILMN) 0.7%, Idexx Laboratories Inc (IDXX) 0.7%, Resmed Inc (RMD) 0.5%, Biogen Inc (BIIB) 0.5%, Centene Corp (CNC) 0.5%, Dexcom Inc (DXCM) 0.5%, Mettler-Toledo International Inc (MTD) 0.5%, Zoetis Inc (ZTS) 0.5%, n/a (GEHC) 0.5%, West Pharmaceutical Services Inc (WST) 0.4%, Quest Diagnostics Inc (DGX) 0.4%, Labcorp Holdings Inc (LH) 0.4%, Viatris Inc (VTRS) 0.3%, Steris PLC (STE) 0.3%, Incyte Corp (INCY) 0.3%, Revvity Inc (RVTY) 0.3%, Zimmer Biomet Holdings Inc (ZBH) 0.3%, n/a (CRL) 0.2%, Solventum Corp (SOLV) 0.2%, Baxter International Inc (BAX) 0.2%, Bio-Techne Corp (TECH) 0.2%, The Cooper Companies Inc (COO) 0.2%, Universal Health Services Inc (UHS) 0.1%, Insulet Corp (PODD) 0.1%, Align Technology Inc (ALGN) 0.1%, Henry Schein Inc (HSIC) 0.1%, Davita Inc (DVA) 0.1%.
Healthcare Stocks: common questions
What are the top 3 healthcare stocks?
As of 12 October 2026, the three largest healthcare stocks in XLV by fund weight are Eli Lilly and Co (LLY) (15.5%), Johnson & Johnson (JNJ) (10.1%) and Abbvie Inc (ABBV) (7.8%). Fund weight shows size inside the fund, not a recommendation.
Which healthcare stocks are beating the sector?
As of 12 October 2026, 25 of the 60 healthcare stocks Zensei prices in XLV beat the fund over the past month. The strongest over the past month is Moderna Inc (MRNA). The list above shows every holding with its weight and returns.
Are healthcare stocks outperforming the S&P 500?
Yes. As of 12 October 2026, XLV has beaten the S&P 500 by 2.3 points over the past month.
Is it a good time to invest in healthcare stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, healthcare stocks are ahead of the S&P 500 on both the recent and the longer window. The rotation map and the read on this page show whether that trend is building or fading.
What is XLV?
XLV is Health Care Select Sector SPDR. Zensei uses it to measure healthcare stocks against the S&P 500 (SPY).
What stocks does XLV own?
As of 12 October 2026, the largest of the 60 positions Zensei tracks in XLV are Eli Lilly and Co, Johnson & Johnson, Abbvie Inc, Merck & Co Inc, Unitedhealth Group Inc. Each position measured against the fund, with momentum and relative strength, comes with a free Zensei account.
What quadrant is healthcare in right now?
As of 12 October 2026, healthcare is in the Outperformers quadrant — outperforming the S&P 500 on both the recent and the longer, time-shifted window. The Zensei methodology page explains the quadrants.
Recent changes
- ·Beating the market → among the strongest
- ·Losing ground → beating the market
- ·First tracked: losing ground
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.