The S&P Health Care Equipment fund is an exchange traded fund (ETF) within the SPDR family. There are at least 3 funds that are incredibly highly correlated with XHE.

Within the SPDR family of funds, the most positively correlated other funds are Health Care Select Sector Fund, S&P 500 Growth, Consumer Discretionary Select Sector Fund, S&P Health Care Services, S&P 400 Mid Cap Growth.

Outside of the SPDR family, the most positively correlated other funds are PowerShares - S&P SmallCap Health Care Portfolio, iShares - U.S. Medical Devices ETF, PowerShares - Dynamic Software Portfolio, Vanguard Mutual Funds - U.S. Growth Admiral Shares, Vanguard Mutual Funds - U.S. Growth.

Extremely Similar Funds

There are multiple other funds which have extremely high correlation to SPDR's S&P Health Care Equipment fund.
99.5% PSCH PowerShares S&P SmallCap Health Care Portfolio
99.2% IHI iShares U.S. Medical Devices ETF
99.2% PSJ PowerShares Dynamic Software Portfolio

Performance for the previous 2 years


Positively Correlated SPDR ETFs
XLV SPDR Health Care Select Sector Fund 98.8%
SPYG SPDR S&P 500 Growth 98.5%
XLY SPDR Consumer Discretionary Select Sector Fund 98.3%
XHS SPDR S&P Health Care Services 98.3%
MDYG SPDR S&P 400 Mid Cap Growth 98.0%
Negatively Correlated SPDR funds
BIL SPDR Barclays 1-3 Month T-Bill -95.0%
GLD SPDR Gold Shares -88.2%
BWZ SPDR Barclays Short Term International Treasury Bond -86.9%
GML SPDR S&P Emerging Latin America -84.3%
RBL SPDR S&P Russia -81.8%

Positively Correlated Non-SPDR funds
PSCH PowerShares S&P SmallCap Health Care Portfolio 99.5%
IHI iShares U.S. Medical Devices ETF 99.2%
PSJ PowerShares Dynamic Software Portfolio 99.2%
VWUAX Vanguard Mutual Funds U.S. Growth Admiral Shares 99.0%
VWUSX Vanguard Mutual Funds U.S. Growth 99.0%
Negatively Correlated Non-SPDR funds
DBP PowerShares DB Precious Metals Fund -91.6%
DBS PowerShares DB Silver Fund -90.0%
DGL PowerShares DB Gold Fund -89.9%
ECH iShares MSCI Chile Capped ETF -89.8%
SLV iShares Silver Trust -89.5%

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