BMEZ vs XLV: Correlation
BlackRock Health Sciences Term Trust (BMEZ) and Health Care Select Sector SPDR Fund (XLV) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMEZ and XLV?
On 3 years of weekly data the BMEZ/XLV correlation comes out at 0.64, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 155.9 %².
By 3-year correlation, XLV places #6 of the 23 assets tracked against BMEZ. Neither side won the trailing year by much: +31.4% against +27.5%.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
BMEZ vs XLV: side by side
| BMEZ (BlackRock Health Sciences Term Trust) | XLV (Health Care Select Sector SPDR Fund) | |
|---|---|---|
| 1-year return | +31.4% | +27.5% |
| 5-year return | +0.9% | +37.4% |
| Volatility (ann.) | 16.5% | 14.7% |
| Beta vs S&P 500 | 0.63 | 0.42 |
| Max drawdown (3Y) | -18.3% | -17.1% |
| Market cap | $1.1B | – |
| P/E (trailing) | 6.7 | – |
| Dividend yield | 0.00% | 1.56% |
| Expense ratio | – | 0.08% |
| Assets under management | – | $41.7B |
| Sector / category | US Listed | Sector ETF |
On the fund side, XLV sits in the Health category at State Street Investment Management, with $41.7B under management, 61 holdings, a 0.08% expense ratio, a 1.56% trailing dividend yield.
Year-by-year returns
| Year | BMEZ | XLV |
|---|---|---|
| 2022 | -32.7% | -2.1% |
| 2023 | +5.1% | +2.1% |
| 2024 | +9.5% | +2.5% |
| 2025 | +18.7% | +14.5% |
| 2026 | +20.6% | +11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMEZ and XLV good diversifiers for each other?
Only partially. A correlation of 0.64 means BMEZ and XLV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BMEZ and XLV?
As of 2026-08-27, the correlation of weekly returns between BMEZ and XLV is 0.64 over 3 years, 0.63 over 1 year and 0.64 over 5 years.
Is XLV a good diversifier for BMEZ?
Only partially. A correlation of 0.64 means BMEZ and XLV share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bmez-vs-xlv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmez-vs-xlv/)
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Hubs: BMEZ correlations · XLV correlations
