Milliman Healthcare Inflation Guard ETF (MHIG) belongs to the Multistrategy category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with MHIG. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MHIG
MHIG charges 0.55% annually. There are 2 ETFs in the Multistrategy category with lower expense ratios, going as low as 0.15%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Simplify Tax Aware Diversified Income Strategy ETF | 0.15% | 2.53M | May 2026 | MHIG vs DINE | |
| Twin Oak Short Horizon Absolute Return ETF | 0.25% | 43.96M | Aug 2024 | MHIG vs TOAK | |
| Harbor Alpha Layering ETF | 0.70% | 7.96M | Aug 2025 | MHIG vs HOLD | |
| SEI DBi Multi-Strategy Alternative ETF | 0.80% | 191.55M | Sep 2025 | MHIG vs QALT | |
| Return Stacked Bonds & Futures Yield ETF | 0.98% | 91.83M | Aug 2024 | MHIG vs RSBY |
Best Risk-Adjusted Alternatives to MHIG
Among 6 ETFs in the Multistrategy category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 87.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Frontier Asset Absolute Return ETF | 87 | 11.67M | Dec 2024 | MHIG vs FARX | |
| DGA Core Plus Absolute Return ETF | 71 | 19.61M | Aug 2023 | MHIG vs HF | |
| Unlimited HFND Multi-Strategy Return Tracker ETF | 62 | 33.60M | Oct 2022 | MHIG vs HFND | |
| Twin Oak Short Horizon Absolute Return ETF | 55 | 43.96M | Aug 2024 | MHIG vs TOAK | |
| Return Stacked Bonds & Futures Yield ETF | 45 | 91.83M | Aug 2024 | MHIG vs RSBY |
Top Performing MHIG Alternatives (YTD)
Among 10 ETFs in the Multistrategy category with YTD return data, the top-performing alternatives shown here go as high as 18.11%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Return Stacked Bonds & Futures Yield ETF | 18.11% | 91.83M | Aug 2024 | MHIG vs RSBY | |
| iShares Systematic Alternatives Active ETF | 11.59% | 4.86B | Dec 2025 | MHIG vs IALT | |
| Unlimited HFND Multi-Strategy Return Tracker ETF | 8.27% | 33.60M | Oct 2022 | MHIG vs HFND | |
| Frontier Asset Absolute Return ETF | 7.95% | 11.67M | Dec 2024 | MHIG vs FARX | |
| SEI DBi Multi-Strategy Alternative ETF | 6.61% | 191.55M | Sep 2025 | MHIG vs QALT |
Lowest Volatility Alternatives to MHIG
MHIG has 8.18% 1-year volatility. There are 5 ETFs in the Multistrategy category with lower 1-year volatility, going as low as 2.91%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Twin Oak Short Horizon Absolute Return ETF | 2.91% | 43.96M | Aug 2024 | MHIG vs TOAK | |
| Simplify Tax Aware Diversified Income Strategy ETF | 4.35% | 2.53M | May 2026 | MHIG vs DINE | |
| DGA Core Plus Absolute Return ETF | 5.63% | 19.61M | Aug 2023 | MHIG vs HF | |
| Frontier Asset Absolute Return ETF | 7.41% | 11.67M | Dec 2024 | MHIG vs FARX | |
| iShares Systematic Alternatives Active ETF | 7.66% | 4.86B | Dec 2025 | MHIG vs IALT |
Lowest Drawdown Alternatives to MHIG
Among 6 ETFs in the Multistrategy category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -1.81%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Twin Oak Short Horizon Absolute Return ETF | -1.81% | 43.96M | Aug 2024 | MHIG vs TOAK | |
| Frontier Asset Absolute Return ETF | -2.99% | 11.67M | Dec 2024 | MHIG vs FARX | |
| DGA Core Plus Absolute Return ETF | -3.14% | 19.61M | Aug 2023 | MHIG vs HF | |
| Unlimited HFND Multi-Strategy Return Tracker ETF | -4.94% | 33.60M | Oct 2022 | MHIG vs HFND | |
| Return Stacked Bonds & Futures Yield ETF | -7.95% | 91.83M | Aug 2024 | MHIG vs RSBY |
Other ETFs from Milliman
The 1 most viewed Milliman ETFs shown here include MHIP and span 1 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Milliman Healthcare Inflation Plus ETF | Health & Biotech Equities | — | — | — | Apr 2026 | MHIG vs MHIP |
Compare MHIG with Any Fund or Stock
Compare MHIG with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MHIG with funds that move differently
Milliman Healthcare Inflation Guard ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MHIG.
Explore MHIG Diversifiers