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I downgrade the State Street SPDR S&P Health Care Equipment ETF to a Hold. I expect XHE to underperform IVV into 2027, as its factor mix heavy in expensive stocks with inadequate growth and questionable quality is at a disadvantage compared to IVV. XHE has a considerable allocation to loss-making, net CFFO-negative firms, which exposes it to serious risks amid higher rates.

Bank of America Corp DE increased its stake in SPDR S&P Health Care Equipment ETF (NYSEARCA:XHE) by 132.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,355 shares of the company's stock after purchasing an additional 49,816 shares during the

Market leadership may be shifting from momentum to quality. These sector ETFs offer exposure to resilient earnings and attractive valuations.