IBB vs XBI: Grades, Fees and Holdings Compared

iShares Biotechnology ETF

IBBANasdaq

State Street SPDR S&P Biotech ETF

XBIANYSE Arca

Overlap

43.0%by weight

Expense ratio

XBI −0.09pt a year

IBB0.44%XBI0.35%

Avg volume · 30D

XBI 5.4×the volume

IBB1.65MXBI8.95M

10Y return · a year

XBI +0.8pt

IBB+10.1%XBI+10.9%

IBB vs XBI Performance

Oct 29, 2021 – Oct 30, 2026

+38.1%IBB+25.8%XBI

Expense ratio: IBB 0.44%; XBI 0.35%, better
Fund size: IBB $11.5B; XBI $10.8B
1Y total return: IBB +36.8%; XBI +39.0%, better
Yield (12M): IBB 0.16%; XBI 0.35%, better
Holdings: IBB 243; XBI 164
Avg volume (30D): IBB 1.65M sh; XBI 8.95M sh, better
NAV per share: IBB $217.59; XBI $157.82
52W range

ETF.net Grade

Pillar letters and Scores for IBB, XBI, with each pillar’s weight
Pillar	IBB	XBI
Cost30% weight	B69	A81Higher
Mission25% weight	A83	A85Higher
Risk15% weight	B69Higher	C47
Tradability15% weight	A95	A99Higher
Holdings10% weight	C45	A88Higher
Durability5% weight	A89	A89

Rank among Biotech & Genomics funds

How we build Categories ›

Same Category. IBB 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 IBB 3rd of 17 funds in the Biotech & Genomics Category.

Rank 1AXBIState Street SPDR S&P Biotech ETFScore 80
Rank 2AIBBQInvesco Nasdaq Biotechnology ETFScore 77
Rank 3AIBBiShares Biotechnology ETFScore 75
Rank 4ABBPVirtus Biotech ETFScore 74

Our read on each fund

ETF.net Research

IBBAiShares Biotechnology ETF

XBIAState Street SPDR S&P Biotech ETF

In short

IBB Biotech's original index fund. Since 2001 IBB has packed the whole US biotech sector, roughly 250 names, into one line item for 0.44% a year, below what the typical biotech fund charges.

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

IBB The Fund seeks to track an index composed of U.S.-listed equities focused on the biotechnology sector.

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

IBB A 2001 launch makes it one of the sector's originals, and it has grown into a multi-billion-dollar fund that trades actively.
Roughly 250 stocks, so the whole US biotech bench comes along instead of a few marquee drugmakers.
0.44% a year, set by the prospectus and below the median fee in its biotech peer group.
Sticks closely to the job in its prospectus: US-listed biotech equities, nothing exotic bolted on. That lands it in the upper half of its peer group.ishares.com

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

IBB Cheaper seats exist in the same aisle: IBBQ at 0.19%, BBP at 0.34%, XBI at 0.35%.
One industry carries the whole fund. Trial readouts, FDA decisions and patent expiries drive it, with no other sector to cushion a rough patch.
Distributions arrive quarterly, but biotech is a growth sector and payouts are a side effect, not the point.

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 IBB profile⁠

Full XBI profile⁠

IBB vs XBI Holdings

How IBB and XBI differ

Overlap by weight

43.0%

Shared holdings make up 87.2% of XBI and 76.4% of IBB.

Level by level

Sector7 Sectors0.0%
Holdings122 in both43.0%
Countryby domicile96.3%
Asset classEquity100%

Sector

Sector weights in IBB and XBI, widest gap first
Sector	More in IBBMore in XBI	IBB	XBI
Health Care	XBI +99.3 points	0.0%	99.3%
Biotechnology	IBB +87.5 points	87.5%	0.0%
Life Sciences Tools & Services	IBB +9.6 points	9.6%	0.0%
Pharmaceuticals	IBB +2.7 points	2.7%	0.0%
Financials	XBI +0.7 points	0.0%	0.7%
Health Care Services	IBB +0.1 points	0.1%	0.0%
Health Care Equipment	IBB +0.1 points	0.1%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IBB and XBI, widest gap first
Country	More in IBBMore in XBI	IBB	XBI
United States	XBI +2.4 points	94.3%	96.7%
Denmark	IBB +2.1 points	2.1%	0.0%
Switzerland	XBI +1.1 points	0.3%	1.4%
Other countries (9)	IBB +1.4 points	3.3%	1.9%

Concentration

Weight in the 10 largest Holdings

IBB51.4%
XBI18.0%

Securities held

IBB241
XBI163

Asset class

IBB: Equity
XBI: Equity

Holdings

Only in IBB119
In both122
Only in XBI41

Only in IBB

119 securities, 23.5% of IBB by weight

Argenx SE Adr3.36%
Illumina Inc2.41%
Genmab Sponsored Adr2.14%
Beone Medicines AG2.11%
Charles River Laboratories Interna1.15%
Ascendis Pharma1.05%
Medpace Holdings0.99%
Bio Techne0.77%
Repligen0.72%
Biontech SE Adr0.57%
10X Genomics Class A0.55%
Tempus Ai Class A0.53%
Axsome Therapeutics0.43%
Bruker0.43%
Abivax American Depositary Shares0.43%
Definium Therapeutics Inc0.32%
Caris Life Sciences0.30%
Adaptive Biotechnologies0.28%
Legend Biotech Adr Rep0.24%
Tarsus Pharmaceuticals0.24%
Xenon Pharmaceuticals0.23%
Edgewise Therapeutics0.22%
Amylyx Pharmaceuticals0.21%
Abcellera Biologics0.21%
Enliven Therapeutics0.18%
Zai Laboratory Adr Representing Lt0.14%
Fortrea Holdings Inc0.14%
Zymeworks0.13%
Aurinia Pharmaceuticals0.13%
Grifols Adr Representing One Non-V0.13%
Mbx Biosciences0.12%
Newamsterdam Pharma0.11%
Lakefront Biotherapeutics Adr NV0.10%
Immunocore Holdings Adr PLC0.09%
Novocure0.09%
Urogen Pharma0.09%
Structure Therapeutics Adr0.09%
Compass Pathways Adr PLC0.09%
Trevi Therapeutics0.09%
Septerna0.09%
Nuvation Bio Class A0.08%
Personalis0.08%
Castle Biosciences0.08%
Mesoblast Adr Representing0.08%
Pharvaris N V0.08%
Maze Therapeutics0.07%
Gh Research PLC0.07%
Stevanato Group0.07%
Maravai Lifesciences Holdings Clas0.06%
Alvotech SA0.05%

Only in XBI

41 securities, 12.8% of XBI by weight

AbbVie Inc1.66%
Tg Therapeutics Inc1.52%
Dianthus Therapeutics Inc1.11%
Viking Therapeutics Inc0.90%
Celcuity Inc0.81%
Hyperliquid Strategies0.72%
Viridian Therapeutics Inc0.60%
Sellas Life Sciences Group I0.56%
Palvella Therapeutics Inc0.53%
Celldex Therapeutics Inc0.47%
First Tracks Biotherapeu W/I0.38%
Nektar Therapeutics0.37%
Immunome Inc0.35%
Jade Biosciences Inc0.24%
Vor Biopharma Inc0.22%
Ardelyx Inc0.22%
Verastem Inc0.21%
Hemab Therapeutics Holdings0.20%
Immix Biopharma Inc0.16%
Kailera Therapeutics Inc0.16%
Damora Therapeutics Inc0.15%
Achieve Life Sciences Inc0.15%
Capricor Therapeutics Inc0.11%
Climb Bio Inc0.11%
Avalo Therapeutics Inc0.11%
Shattuck Labs Inc0.10%
Monopar Therapeutics Inc0.10%
Aktis Oncology Inc0.08%
Ocugen Inc0.08%
Mimedx Group Inc0.07%
Ovid Therapeutics Inc0.07%
Contra Metsera Inc0.07%
Assembly Biosciences Inc0.06%
Crescent Biopharma Inc0.05%
Faeth Therapeutics Inc0.04%
Compass Therapeutics Inc0.04%
Contra Akero Therapeut0.01%
Contra Inhibrx Inc<0.01%
Contra Mirati Therapeu<0.01%
Contra Verve Therapeut<0.01%
Contra Blueprint Medic<0.01%

Weight gaps

The 100 widest of 122 Holdings in both funds.

Holding weights in IBB and XBI, widest gap first
Holding	More in IBBMore in XBI	IBB	XBI
Gilead SciencesGILD	IBB +7.31 points	8.94%	1.63%
Amgen IncAMGN	IBB +6.62 points	8.31%	1.69%
Vertex PharmaceuticalsVRTX	IBB +6.38 points	7.87%	1.49%
Regeneron PharmaceuticalsREGN	IBB +4.79 points	6.24%	1.45%
ModernaMRNA	IBB +3.13 points	5.49%	2.36%
NateraNTRA	IBB +1.89 points	3.78%	1.89%
Twist BioscienceTWST	XBI +1.32 points	0.66%	1.98%
Revolution MedicinesRVMD	IBB +1.19 points	2.50%	1.31%
Oruka TherapeuticsORKA	XBI +1.13 points	0.39%	1.52%
Crispr Therapeutics AGCRSP	XBI +1.12 points	0.31%	1.43%
Spyre Therapeutics IncSYRE	XBI +1.11 points	0.52%	1.63%
Grail IncGRAL	XBI +1.10 points	0.41%	1.51%
Ptc TherapeuticsPTCT	XBI +1.05 points	0.32%	1.37%
ErascaERAS	XBI +0.98 points	0.24%	1.22%
AlkermesALKS	XBI +0.93 points	0.50%	1.43%
VeracyteVCYT	XBI +0.91 points	0.27%	1.18%
Cogent BiosciencesCOGT	XBI +0.88 points	0.33%	1.21%
Kodiak SciencesKOD	XBI +0.86 points	0.39%	1.25%
BiogenBIIB	IBB +0.82 points	2.52%	1.70%
Protagonist TherapeuticsPTGX	XBI +0.82 points	0.60%	1.42%
Iovance Biotherapeutics IncIOVA	XBI +0.81 points	0.23%	1.04%
Beam TherapeuticsBEAM	XBI +0.79 points	0.17%	0.96%
Travere TherapeuticsTVTX	XBI +0.79 points	0.31%	1.10%
ImmunitybioIBRX	XBI +0.77 points	0.22%	0.99%
Halozyme TherapeuticsHALO	XBI +0.75 points	1.00%	1.75%
Krystal BiotechKRYS	XBI +0.76 points	0.58%	1.34%
Ultragenyx PharmaceuticalRARE	XBI +0.73 points	0.10%	0.83%
Mirum PharmaceuticalsMIRM	XBI +0.72 points	0.31%	1.03%
Relay TherapeuticsRLAY	XBI +0.71 points	0.21%	0.92%
Arcutis BiotherapeuticsARQT	XBI +0.70 points	0.24%	0.94%
Cg OncologyCGON	XBI +0.69 points	0.26%	0.95%
Praxis Precision MedicinesPRAX	XBI +0.69 points	0.51%	1.20%
Tango TherapeuticsTNGX	XBI +0.67 points	0.21%	0.89%
Ionis PharmaceuticalsIONS	XBI +0.66 points	0.48%	1.14%
CytokineticsCYTK	XBI +0.66 points	0.57%	1.23%
Rhythm PharmaceuticalsRYTM	XBI +0.66 points	0.41%	1.07%
CaredxCDNA	XBI +0.64 points	0.28%	0.92%
Kymera TherapeuticsKYMR	XBI +0.63 points	0.64%	1.27%
VaxcytePCVX	XBI +0.60 points	0.61%	1.21%
Dyne TherapeuticsDYN	XBI +0.55 points	0.17%	0.72%
Recursion Pharmaceuticals Class ARXRX	XBI +0.53 points	0.15%	0.68%
Alnylam PharmaceuticalsALNY	IBB +0.52 points	1.49%	0.97%
Biomarin PharmaceuticalBMRN	XBI +0.52 points	0.76%	1.28%
Arrowhead PharmaceuticalsARWR	XBI +0.51 points	0.54%	1.05%
Madrigal PharmaceuticalsMDGL	XBI +0.50 points	0.63%	1.13%
Exelixis IncEXEL	XBI +0.50 points	1.13%	1.63%
Agios PharmaceuticalsAGIO	XBI +0.50 points	0.12%	0.62%
Scholar Rock HoldingSRRK	XBI +0.48 points	0.30%	0.78%
Absci CorpABSI	XBI +0.47 points	0.11%	0.58%
BiohavenBHVN	XBI +0.46 points	0.13%	0.59%
Biocryst PharmaceuticalsBCRX	XBI +0.44 points	0.13%	0.57%
Bridgebio PharmaBBIO	XBI +0.44 points	0.89%	1.33%
ImmunovantIMVT	XBI +0.44 points	0.17%	0.61%
Intellia TherapeuticsNTLA	XBI +0.44 points	0.11%	0.55%
Sarepta TherapeuticsSRPT	XBI +0.42 points	0.13%	0.55%
Disc MedicineIRON	XBI +0.42 points	0.16%	0.58%
Vera Therapeutics Class AVERA	XBI +0.42 points	0.12%	0.54%
Summit TherapeuticsSMMT	XBI +0.40 points	0.17%	0.57%
InsmedINSM	IBB +0.40 points	1.64%	1.24%
Nurix TherapeuticsNRIX	XBI +0.40 points	0.18%	0.58%
UniqureQURE	XBI +0.39 points	0.11%	0.50%
Denali TherapeuticsDNLI	XBI +0.38 points	0.19%	0.57%
NovavaxNVAX	XBI +0.36 points	0.11%	0.47%
Neurocrine BiosciencesNBIX	XBI +0.35 points	1.00%	1.35%
Adma BiologicsADMA	XBI +0.35 points	0.17%	0.52%
VericelVCEL	XBI +0.32 points	0.14%	0.46%
Replimune GroupREPL	XBI +0.32 points	0.10%	0.42%
Incyte CorpINCY	IBB +0.31 points	1.64%	1.33%
Ideaya BiosciencesIDYA	XBI +0.31 points	0.20%	0.51%
PrecigenPGEN	XBI +0.29 points	0.08%	0.37%
Syndax PharmaceuticalsSNDX	XBI +0.27 points	0.08%	0.35%
Arcus BiosciencesRCUS	XBI +0.26 points	0.10%	0.37%
Acadia PharmaceuticalsACAD	XBI +0.26 points	0.24%	0.50%
Stoke TherapeuticsSTOK	XBI +0.24 points	0.10%	0.34%
XencorXNCR	XBI +0.23 points	0.14%	0.37%
Mineralys TherapeuticsMLYS	XBI +0.23 points	0.07%	0.30%
Zenas BiopharmaZBIO	XBI +0.22 points	0.07%	0.29%
AnaptysbioANAB	XBI +0.21 points	0.09%	0.30%
Kura OncologyKURA	XBI +0.20 points	0.06%	0.26%
Vir BiotechnologyVIR	XBI +0.19 points	0.10%	0.29%
AnnexonANNX	XBI +0.19 points	0.04%	0.23%
Monte Rosa TherapeuticsGLUE	XBI +0.18 points	0.04%	0.22%
Inhibrx Biosciences IncINBX	XBI +0.18 points	0.05%	0.23%
Rigel PharmaceuticalsRIGL	XBI +0.18 points	0.06%	0.24%
MannkindMNKD	XBI +0.17 points	0.07%	0.24%
Oric PharmaceuticalsORIC	XBI +0.17 points	0.04%	0.21%
Tyra BiosciencesTYRA	XBI +0.16 points	0.08%	0.24%
Prime MedicinePRME	XBI +0.15 points	0.03%	0.18%
Candel Therapeutics IncCADL	XBI +0.15 points	0.03%	0.18%
Myriad GeneticsMYGN	XBI +0.14 points	0.04%	0.18%
Taysha Gene TherapiesTSHA	XBI +0.14 points	0.07%	0.21%
Corvus PharmaceuticalsCRVS	XBI +0.14 points	0.04%	0.18%
Cullinan TherapeuticsCGEM	XBI +0.13 points	0.05%	0.18%
Janux TherapeuticsJANX	XBI +0.13 points	0.07%	0.20%
GeronGERN	XBI +0.13 points	0.04%	0.17%
SavaraSVRA	XBI +0.12 points	0.03%	0.15%
Olema PharmaceuticalsOLMA	XBI +0.12 points	0.03%	0.15%
RegenxbioRGNX	XBI +0.11 points	0.03%	0.14%
Sana BiotechnologySANA	XBI +0.11 points	0.03%	0.14%
Arrivent BiopharmaAVBP	XBI +0.10 points	0.04%	0.14%

All 243 IBB 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.

IBB vs XBI Cost

Overpaying IBB vs XBI

$1,726

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

IBB 0.44%
$8,852
XBI 0.35%
$7,126

Amount$10,000

Years30 years

Cost over time

IBB 0.44%
XBI 0.35%
Overpaying

Year by year

Year	IBB	XBI	Overpaying
10	$794	$634	$160
20	$3,061	$2,454	$607
30	$8,852	$7,126	$1,726

Expense ratio

0.44%IBB
0.35%XBI, cheaper

XBI0.35%IBB0.44%

0.19%0.75%

Middle half of Biotech & Genomics funds
Median 0.47%

XBI 3rd cheapest of 17 funds

IBB 6th cheapest of 17 funds

IBB vs XBI Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IBB 0.16%; XBI 0.35%, better
Payout (12M): IBB $0.34; XBI $0.54
Last payment: IBB $0.01; XBI $0.14
Ex-dividend: IBB Sep 15, 2026; XBI Jun 22, 2026
Paid on: IBB Sep 18, 2026; XBI Jun 24, 2026
Frequency: IBB Quarterly; XBI Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

IBBQuarterly · 36 paymentsAll IBB payments⁠

XBITwice a year · 24 paymentsAll XBI payments⁠

IBB vs XBI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IBB 17.9%, betterXBI 24.8%
Return per unit of riskSharpe ratio, 3 years: IBB 1.07XBI 1.11, better
Worst fallMax drawdown, 5 years: IBB −35.7%, betterXBI −53.2%
Market sensitivityBeta, 5 years: IBB 0.70XBI 1.10; Market = 1

IBB and XBI in the news

All news⁠

Deep Dive
Moderna fell 18% on cancer-vaccine data, and genomics ETFs fell 4%
Oct 23, 2026IBBXBI
News
AstraZeneca agrees to invest $2 billion in Summit, without the drug rights
Sep 28, 2026IBBXBI
Deep Dive
Health care's 1.8% week was four large caps, not a biotech rally
Sep 19, 2026IBBXBI
Deep Dive
Health care ETFs spent 2026 between a 28% biotech rally and a 16% device slide
Sep 14, 2026IBBXBI
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

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IBB vs XBI

In short

Stated mandate

Why people hold it