Depends how long you have been together. I personally wouldn't spend too much money on any gifts and instead try and find something that's meaningful to the two of you and shows that you put though and effort into it.
The key to gift giving is to get something that you believe they will like that will mean something to them NOT to compare who spent how much. If he spent more money on you then him would it mean anything? Obviously some one is going to spend more then the other, if it was on sale does the gift mean less then if it wasn't? The gift matters ONLY in so much as it means to him, the sentimental and personal value. I have a crayon scribbled piece of paper from my nephews they gave me as a holiday card, best gift I've gotten in a long while. So its not okay because it doesn't matter to begin with.