BBC vs XBI: Grades, Fees and Holdings Compared

Virtus Biotech Clinical Trials ETF

BBCDNYSE Arca

State Street SPDR S&P Biotech ETF

XBIANYSE Arca

Overlap

32.6%by weight

Expense ratio

XBI −0.30pt a year

BBC0.65%XBI0.35%

Avg volume · 30D

XBI 362.7×the volume

BBC24.7KXBI8.95M

10Y return · a year

XBI +1.4pt

BBC+9.5%XBI+10.9%

BBC vs XBI Performance

Oct 29, 2021 – Oct 30, 2026

0.0%BBC+25.8%XBI

Expense ratio: BBC 0.65%; XBI 0.35%, better
Fund size: BBC $35M; XBI $10.8B
1Y total return: BBC +35.6%; XBI +39.0%, better
Yield (12M): BBC 1.52%, better; XBI 0.35%
Holdings: BBC 130; XBI 164
Avg volume (30D): BBC 24.7K sh; XBI 8.95M sh, better
NAV per share: BBC $44.05; XBI $157.82
52W range

ETF.net Grade

Pillar letters and Scores for BBC, XBI, with each pillar’s weight
Pillar	BBC	XBI
Cost30% weight	F13	A81Higher
Mission25% weight	C45	A85Higher
Risk15% weight	F12	C47Higher
Tradability15% weight	F22	A99Higher
Holdings10% weight	A93Higher	A88
Durability5% weight	C48	A89Higher

Rank among Biotech & Genomics funds

How we build Categories ›

Same Category. BBC and XBI are both graded against the same 17 Biotech & Genomics funds, so their Grades compare head to head.

Biotech & Genomics⁠

Category · 17 funds

See all 17 ›

XBI ranks 1st and BBC 16th of 17 funds in the Biotech & Genomics Category.

Rank 1AXBIState Street SPDR S&P Biotech ETFScore 80
Rank 2AIBBQInvesco Nasdaq Biotechnology ETFScore 77
Rank 15DARKGARK Genomic Revolution ETFScore 33
Rank 16DBBCVirtus Biotech Clinical Trials ETFScore 31
Rank 17DCANCTema Oncology ETFScore 30

Our read on each fund

ETF.net Research

BBCDVirtus Biotech Clinical Trials ETF

XBIAState Street SPDR S&P Biotech ETF

In short

BBC Most biotech funds blend approved-drug cash machines with science projects. BBC keeps only the science projects: US-listed biotechs whose lead drug is still in clinical trials, spread across roughly 200 names.

XBI Biotech's great leveler. Its index weights roughly 160 US biotechs near-equally, so a clinical-stage minnow carries about as much as a megacap. Live since 2006 and one of the most heavily traded funds in the sector.

Stated mandate

BBC The Fund seeks to track, before fees and expenses, the investment results of the LifeSci Biotechnology Clinical Trials Index. The Index comprises U.S.-listed biotechnology stocks with a lead drug in clinical-stage development.

XBI The fund seeks to track, before fees and expenses, the total return performance of the S&P Biotechnology Select Industry Index.

Why people hold it

BBC A genuinely narrow mandate: the index takes U.S.-listed biotechs with a lead drug in clinical-stage development, so commercial-stage giants stay out.
Roughly 200 holdings, so one failed readout is a dent, not the whole fund.
The basket lines up tightly with what the prospectus says it owns, one of the cleaner mandate-to-portfolio matches in biotech.
Running since 2014, which makes it one of the longer-lived pure clinical-stage plays rather than a recent theme launch.

XBI Modified equal weighting spreads exposure across roughly 160 biotechs instead of a handful of giants, so small drug developers actually move the fund.ssga.com
0.35% a year sits below the typical fee in its biotech peer group, which is unusual for a specialist sleeve this narrow.
Among the most heavily traded funds in biotech and multi-billion-dollar in size, so getting in and out is rarely the hard part.
A 2006 launch from State Street's SPDR line, meaning it has traded through several biotech booms and busts rather than one hot cycle. Pays quarterly.

Worth knowing

BBC At 0.65% a year it costs more than the typical biotech fund, and more than broad peers like XBI (0.35%) and IBB (0.44%).
Small asset base and thin trading, so spreads can widen and large orders move the price.
Pre-approval biotech is binary by nature, and on our review the fund sits in the lower tier of its biotech peer group overall.

XBI Equal weighting leans hard on smaller, clinical-stage names where a single trial readout moves a stock, so swings run deeper than cap-weighted rivals like IBB.ssga.com nasdaqomx.com
Not the cheapest ticket on the shelf: Invesco's IBBQ charges 0.19% against XBI's 0.35%.
One US industry only, drawn from the biotechnology segment of the S&P Total Market Index, so it can drift a long way from the broad market either direction.ssga.com

Full BBC profile⁠

Full XBI profile⁠

BBC vs XBI Holdings

How BBC and XBI differ

Overlap by weight

32.6%

Shared holdings make up 69.4% of BBC and 37.3% of XBI.

Level by level

Holdings86 in both32.6%
Countryby domicile93.0%
Sector2 Sectors99.3%
Asset classEquity100%

Sector

Sector weights in BBC and XBI, widest gap first
Sector	More in BBCMore in XBI	BBC	XBI
Health Care	BBC +0.7 points	100.0%	99.3%
Financials	XBI +0.7 points	0.0%	0.7%

Country, concentration and asset class

Country by domicile

Country weights in BBC and XBI, widest gap first
Country	More in BBCMore in XBI	BBC	XBI
United States	XBI +6.7 points	90.0%	96.7%
Canada	BBC +2.4 points	2.4%	0.0%
Netherlands	BBC +1.5 points	2.0%	0.5%
Ireland	BBC +1.5 points	1.6%	0.1%
United Kingdom	BBC +1.0 points	2.3%	1.3%
China	BBC +0.5 points	0.6%	0.1%
Switzerland	XBI +0.3 points	1.1%	1.4%

Concentration

Weight in the 10 largest Holdings

BBC16.0%
XBI18.0%

Securities held

BBC129
XBI163

Asset class

BBC: Equity
XBI: Equity

Holdings

Only in BBC43
In both86
Only in XBI77

Only in BBC

43 securities, 30.6% of BBC by weight

AbCellera Biologics Inc1.89%
Amylyx Pharmaceuticals Inc1.49%
SpyGlass Pharma Inc1.34%
MBX Biosciences Inc1.16%
Definium Therapeutics Inc1.16%
VeraDermics Inc1.14%
LB Pharmaceuticals Inc1.07%
Maze Therapeutics Inc1.01%
Generate Biomedicines Inc0.97%
Septerna Inc0.95%
Edgewise Therapeutics Inc0.85%
Alto Neuroscience Inc0.83%
Pharvaris NV0.83%
Belite Bio Inc0.82%
Arvinas Inc0.79%
Rezolute Inc0.78%
GH Research PLC0.77%
MeiraGTx Holdings plc0.77%
Compass Pathways Plc0.77%
Adlai Nortye Group Ltd0.76%
Enliven Therapeutics Inc0.74%
Bicycle Therapeutics PLC0.72%
Rocket Pharmaceuticals Inc0.70%
ProKidney Corp0.68%
Invivyd Inc0.59%
Immatics NV0.59%
Lexicon Pharmaceuticals Inc0.58%
Oculis Holding AG0.56%
Xenon Pharmaceuticals Inc0.55%
Newamsterdam Pharma Co NV0.52%
Tectonic Therapeutic Inc0.51%
MoonLake Immunotherapeutics0.51%
Rapport Therapeutics Inc0.48%
Wave Life Sciences Inc0.47%
Upstream Bio Inc0.41%
Relmada Therapeutics Inc0.39%
Structure Therapeutics Inc0.39%
Evommune Inc0.26%
BioAge Labs Inc0.25%
Alumis Inc0.22%
MapLight Therapeutics Inc0.21%
Sionna Therapeutics Inc0.08%
EyePoint Inc0.02%

Only in XBI

77 securities, 62.6% of XBI by weight

Moderna Inc2.36%
Twist Bioscience Corp1.98%
Natera Inc1.89%
Halozyme Therapeutics Inc1.75%
Biogen Inc1.70%
Amgen Inc1.69%
United Therapeutics Corp1.68%
AbbVie Inc1.66%
Gilead Sciences Inc1.63%
Exelixis Inc1.63%
Tg Therapeutics Inc1.52%
Grail Inc1.51%
Vertex Pharmaceuticals Inc1.49%
Regeneron Pharmaceuticals1.45%
Alkermes PLC1.43%
Crispr Therapeutics AG1.43%
Protagonist Therapeutics Inc1.42%
Ptc Therapeutics Inc1.37%
Neurocrine Biosciences Inc1.35%
Krystal Biotech Inc1.34%
Bridgebio Pharma Inc1.33%
Incyte Corp1.33%
Roivant Sciences Ltd1.29%
Biomarin Pharmaceutical Inc1.28%
Insmed Inc1.24%
Cytokinetics Inc1.23%
Veracyte Inc1.18%
Ionis Pharmaceuticals Inc1.14%
Madrigal Pharmaceuticals Inc1.13%
Travere Therapeutics Inc1.10%
Rhythm Pharmaceuticals Inc1.07%
Arrowhead Pharmaceuticals In1.05%
Iovance Biotherapeutics Inc1.04%
Mirum Pharmaceuticals Inc1.03%
Immunitybio Inc0.99%
Alnylam Pharmaceuticals Inc0.97%
Arcutis Biotherapeutics Inc0.94%
Caredx Inc0.92%
Ultragenyx Pharmaceutical In0.83%
Hyperliquid Strategies0.72%
Agios Pharmaceuticals Inc0.62%
Absci Corp0.58%
Denali Therapeutics Inc0.57%
Biocryst Pharmaceuticals Inc0.57%
Sarepta Therapeutics Inc0.55%
Adma Biologics Inc0.52%
Acadia Pharmaceuticals Inc0.50%
Novavax Inc0.47%
Vericel Corp0.46%
Precigen Inc0.37%

Weight gaps

All 86 Holdings in both funds, largest gap first.

Holding weights in BBC and XBI, widest gap first
Holding	More in BBCMore in XBI	BBC	XBI
First Tracks Biotherapeutics IncTRAX	BBC +1.56 points	1.94%	0.38%
Xencor IncXNCR	BBC +1.43 points	1.80%	0.37%
Prime Medicine IncPRME	BBC +1.25 points	1.43%	0.18%
Replimune Group IncREPL	BBC +1.06 points	1.48%	0.42%
Kodiak Sciences IncKOD	BBC +0.99 points	2.24%	1.25%
4D Molecular Therapeutics IncFDMT	BBC +0.95 points	1.10%	0.15%
Vor BioPharma IncVOR	BBC +0.88 points	1.10%	0.22%
Achieve Life Sciences IncACHV	BBC +0.84 points	0.99%	0.15%
Monopar Therapeutics IncMNPR	BBC +0.81 points	0.91%	0.10%
Zenas Biopharma IncZBIO	BBC +0.81 points	1.10%	0.29%
Janux Therapeutics IncJANX	BBC +0.80 points	1.00%	0.20%
Vir Biotechnology IncVIR	BBC +0.74 points	1.03%	0.29%
Prothena Corp PLCPRTA	BBC +0.74 points	0.82%	0.08%
Spyre Therapeutics IncSYRE	XBI +0.70 points	0.93%	1.63%
REGENXBIO IncRGNX	BBC +0.70 points	0.84%	0.14%
Aura Biosciences IncAURA	BBC +0.68 points	0.74%	0.06%
Neurogene IncNGNE	BBC +0.68 points	0.75%	0.07%
Cullinan Therapeutics IncCGEM	BBC +0.68 points	0.86%	0.18%
Design Therapeutics IncDSGN	BBC +0.66 points	0.76%	0.10%
Damora Therapeutics IncDMRA	BBC +0.65 points	0.80%	0.15%
Arbutus Biopharma CorpABUS	BBC +0.64 points	0.76%	0.12%
Nurix Therapeutics IncNRIX	BBC +0.63 points	1.21%	0.58%
Assembly Biosciences IncASMB	BBC +0.63 points	0.69%	0.06%
Sana Biotechnology IncSANA	BBC +0.63 points	0.77%	0.14%
ORIC Pharmaceuticals IncORIC	BBC +0.61 points	0.82%	0.21%
Candel Therapeutics IncCADL	BBC +0.59 points	0.77%	0.18%
Climb Bio IncCLYM	BBC +0.57 points	0.68%	0.11%
Solid Biosciences IncSLDB	BBC +0.57 points	0.68%	0.11%
Savara IncSVRA	BBC +0.56 points	0.71%	0.15%
Immix Biopharma IncIMMX	BBC +0.56 points	0.72%	0.16%
Crescent Biopharma IncCBIO	BBC +0.55 points	0.60%	0.05%
Viridian Therapeutics IncVRDN	BBC +0.55 points	1.15%	0.60%
Altimmune IncALT	BBC +0.53 points	0.62%	0.09%
Palvella Therapeutics IncPVLA	BBC +0.53 points	1.06%	0.53%
Biohaven LtdBHVN	BBC +0.52 points	1.11%	0.59%
Aktis Oncology IncAKTS	BBC +0.50 points	0.58%	0.08%
Lexeo Therapeutics IncLXEO	BBC +0.48 points	0.53%	0.05%
Cogent Biosciences IncCOGT	XBI +0.48 points	0.73%	1.21%
Corvus Pharmaceuticals IncCRVS	BBC +0.47 points	0.65%	0.18%
Oruka Therapeutics IncORKA	XBI +0.47 points	1.05%	1.52%
Jade Biosciences IncJBIO	BBC +0.46 points	0.70%	0.24%
CytomX Therapeutics IncCTMX	BBC +0.47 points	0.58%	0.11%
SELLAS Life Sciences Group IncSLS	BBC +0.42 points	0.98%	0.56%
Annexon IncANNX	BBC +0.42 points	0.65%	0.23%
Erasca IncERAS	XBI +0.41 points	0.81%	1.22%
Olema Pharmaceuticals IncOLMA	BBC +0.41 points	0.56%	0.15%
Immunome IncIMNM	BBC +0.40 points	0.75%	0.35%
Allogene Therapeutics IncALLO	BBC +0.39 points	0.50%	0.11%
Praxis Precision Medicines IncPRAX	XBI +0.38 points	0.82%	1.20%
Mineralys Therapeutics IncMLYS	BBC +0.38 points	0.68%	0.30%
Revolution Medicines IncRVMD	XBI +0.37 points	0.94%	1.31%
Inhibrx Biosciences IncINBX	BBC +0.38 points	0.61%	0.23%
Tyra Biosciences IncTYRA	BBC +0.36 points	0.60%	0.24%
AnaptysBio IncANAB	BBC +0.36 points	0.66%	0.30%
Ideaya Biosciences IncIDYA	BBC +0.35 points	0.86%	0.51%
Taysha Gene Therapies IncTSHA	BBC +0.35 points	0.56%	0.21%
Dianthus Therapeutics IncDNTH	XBI +0.35 points	0.76%	1.11%
Disc Medicine IncIRON	BBC +0.34 points	0.92%	0.58%
Tango Therapeutics IncTNGX	XBI +0.34 points	0.55%	0.89%
Recursion Pharmaceuticals IncRXRX	BBC +0.34 points	1.02%	0.68%
Stoke Therapeutics IncSTOK	BBC +0.33 points	0.67%	0.34%
Cabaletta Bio IncCABA	BBC +0.32 points	0.40%	0.08%
Summit Therapeutics IncSMMT	BBC +0.31 points	0.88%	0.57%
Intellia Therapeutics IncNTLA	BBC +0.28 points	0.83%	0.55%
Avalo Therapeutics IncAVTX	BBC +0.27 points	0.38%	0.11%
Celldex Therapeutics IncCLDX	BBC +0.25 points	0.72%	0.47%
ArriVent Biopharma IncAVBP	BBC +0.26 points	0.40%	0.14%
Compass Therapeutics IncCMPX	BBC +0.24 points	0.28%	0.04%
BridgeBio Oncology Therapeutics IncBBOT	BBC +0.24 points	0.26%	0.02%
Bicara Therapeutics IncBCAX	BBC +0.24 points	0.34%	0.10%
Monte Rosa Therapeutics IncGLUE	BBC +0.23 points	0.45%	0.22%
Arcus Biosciences IncRCUS	BBC +0.22 points	0.59%	0.37%
Celcuity IncCELC	XBI +0.22 points	0.59%	0.81%
Beam Therapeutics IncBEAM	XBI +0.21 points	0.75%	0.96%
Vaxcyte IncPCVX	XBI +0.21 points	1.00%	1.21%
uniQure NVQURE	BBC +0.20 points	0.70%	0.50%
Kymera Therapeutics IncKYMR	XBI +0.19 points	1.08%	1.27%
Viking Therapeutics IncVKTX	XBI +0.19 points	0.71%	0.90%
CG oncology IncCGON	XBI +0.14 points	0.81%	0.95%
Vera Therapeutics IncVERA	BBC +0.14 points	0.68%	0.54%
Nektar TherapeuticsNKTR	BBC +0.13 points	0.50%	0.37%
Capricor Therapeutics IncCAPR	BBC +0.08 points	0.19%	0.11%
Relay Therapeutics IncRLAY	BBC +0.08 points	1.00%	0.92%
Immunovant IncIMVT	BBC +0.06 points	0.67%	0.61%
Scholar Rock Holding CorpSRRK	XBI +0.02 points	0.76%	0.78%
Dyne Therapeutics IncDYN	XBI +0.01 points	0.71%	0.72%

All 198 BBC holdings⁠All 165 XBI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BBC vs XBI Cost

Overpaying BBC vs XBI

$5,591

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BBC 0.65%
$12,717
XBI 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

BBC 0.65%
XBI 0.35%
Overpaying

Year by year

Year	BBC	XBI	Overpaying
10	$1,163	$634	$529
20	$4,440	$2,454	$1,986
30	$12,717	$7,126	$5,591

Expense ratio

0.65%BBC
0.35%XBI, cheaper

XBI0.35%BBC0.65%

0.19%0.75%

Middle half of Biotech & Genomics funds
Median 0.47%

XBI 3rd cheapest of 17 funds

BBC 15th cheapest of 17 funds

BBC vs XBI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): BBC 1.52%, better; XBI 0.35%
Payout (12M): BBC $0.66; XBI $0.54
Last payment: BBC $0.66; XBI $0.14
Ex-dividend: BBC Dec 22, 2025; XBI Jun 22, 2026
Paid on: BBC Dec 29, 2025; XBI Jun 24, 2026
Frequency: BBC Annual; XBI Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

BBCAnnual · 4 paymentsAll BBC payments⁠

XBITwice a year · 24 paymentsAll XBI payments⁠

BBC vs XBI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: BBC 35.7%XBI 24.8%, better
Return per unit of riskSharpe ratio, 3 years: BBC 0.90XBI 1.11, better
Worst fallMax drawdown, 5 years: BBC −70.1%XBI −53.2%, better
Market sensitivityBeta, 5 years: BBC 1.31XBI 1.10; Market = 1

BBC and XBI in the news

All news⁠

Deep Dive
Health care's 1.8% week was four large caps, not a biotech rally
Sep 19, 2026BBCXBI
Deep Dive
Moderna fell 18% on cancer-vaccine data, and genomics ETFs fell 4%
Oct 23, 2026XBI
Top Movers
iShares MSCI Indonesia ETF EIDO jumps 7.2% as Jakarta rebounds
Oct 20, 2026XBI
Closing Bell
Investors rotate out of tech as health care hits a record; Dow gains 1%
Oct 20, 2026XBI
Top Movers
Constellation rose 12% on Google's nuclear deal, and genomics funds sank
Oct 6, 2026XBI
Top Movers
Fair Isaac fell 26.5% after a rival score joined Fannie and Freddie's fee grid
Sep 29, 2026XBI

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