CVS rerated sharply before 2Q26, then partially reset
Indexed total return (May 5 = 100); May 5–Aug. 27, 2026.
Line chart of CVS and XLV total-return indexes from May 5 to August 27, 2026, each set to 100 on May 5. CVS rose 30.2% through the August 4 preprint close versus 12.1% for XLV, then fell 11.0% through August 27 while XLV rose 5.8%. CVS ended at 115.9 and XLV at 118.6.
