XLV Making New All Time Highs

Even though the S&P 500 is still down >10% from where it was in 2007, the healthcare sector SPDR has been making new all time highs over the last few days.  XLV is the 4th of 9 sector ETFs to reach above its 07/08 highs.  Energy, Materials, Industrials, Financials (of course) and (surprisingly) Utilities are all still below their former peaks.