SPDR® S&P Biotech ETF (XBI)

Look-through valuation · Sector · Expense ratio 0.35 % · ISIN US78464A8707

XBI SPDR® S&P Biotech ETF XBI overvalued

Holdings vs fair value −61.3 % weighted average

Quality 51/100 avg alpha quality

Expense ratio 0.35 % per year (TER)

Fund size $ 7.9B yield 0.36 %

The look-through covers 54 % of the fund by weight (48 of 50 disclosed positions valued). Unresolved positions are left out, never estimated.

Price history (since 2006)

Monthly close since 2006. Price shows performance, the valuation verdict is in the look-through above.

Top holdings

Holding	Weight	vs fair value	Quality
Apogee Therapeutics, Inc. Common Stock APGE	1.5 %	−50.9 %	44
Moderna Inc MRNA	1.4 %	−80.0 %	52
Kymera Therapeutics Inc KYMR	1.3 %	−80.0 %	39
Viking Therapeutics Inc VKTX	1.3 %	−79.4 %	42
Erasca Inc ERAS	1.3 %	−80.0 %	51
Twist Bioscience Corp TWST	1.3 %	−80.0 %	58
Oruka Therapeutics, Inc. ORKA	1.2 %	−83.0 %	35
CG Oncology, Inc. Common stock CGON	1.2 %	−80.0 %	43
Praxis Precision Medicines Inc PRAX	1.2 %	−83.0 %	29
Dianthus Therapeutics Inc. DNTH	1.2 %	−80.0 %	38
Revolution Medicines Inc RVMD	1.2 %	−80.0 %	38
Mirum Pharmaceuticals Inc MIRM	1.2 %	−79.8 %	59
Natera Inc NTRA	1.2 %	−80.0 %	46
Vaxcyte Inc PCVX	1.2 %	−83.0 %	30
Rhythm Pharmaceuticals Inc RYTM	1.2 %	−80.0 %	40
Spyre Therapeutics Inc. SYRE	1.2 %	−69.1 %	47
Scholar Rock Holding Corp SRRK	1.2 %	−80.0 %	43
BridgeBio Pharma Inc BBIO	1.2 %	−79.7 %	39
Protagonist Therapeutics Inc PTGX	1.2 %	−80.0 %	48
Cytokinetics Inc CYTK	1.2 %	−80.0 %	40
Ultragenyx RARE	1.2 %	−24.6 %	39
Roivant Sciences Ltd ROIV	1.1 %	−80.0 %	49
Travere Therapeutics Inc TVTX	1.1 %	−80.0 %	46
Cogent Biosciences Inc UMRX	1.1 %	n/a	n/a
Insmed Inc INSM	1.1 %	−83.0 %	31

Fair value and quality per position come from the same valuation as our stock pages. Showing the 25 largest of 50 disclosed positions. "n/a" means the position is not (yet) in our stock universe and does not enter the average.

How the look-through works

An ETF has no fair value of its own like a single stock. We build it bottom up: every holding has a fair value and a quality score on our pages. Weighted by portfolio share, that gives SPDR® S&P Biotech ETF an average of how cheap or expensive its companies currently sit versus fair value, and how high their average quality is.

As of: Jul 17, 2026

No investment advice, no buy or sell recommendation. The look-through is a computed summary of public fundamentals and is no substitute for your own research.