Milliman Healthcare Inflation Plus ETF (MHIP) belongs to the Health & Biotech Equities category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with MHIP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MHIP
MHIP charges 0.55% annually. There are 34 ETFs in the Health & Biotech Equities category with lower expense ratios, going as low as 0.08%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| State Street Health Care Select Sector SPDR ETF | 0.08% | 41.66B | Dec 1998 | MHIP vs XLV | |
| Fidelity MSCI Health Care Index ETF | 0.08% | 3.22B | Oct 2013 | MHIP vs FHLC | |
| Vanguard Health Care ETF | 0.09% | 20.40B | Jan 2004 | MHIP vs VHT | |
| VanEck Healthcare TruSector ETF | 0.10% | 850.52K | Apr 2026 | MHIP vs TRUH | |
| Portfolio Building Block World Pharma and Biotech ... | 0.13% | 933.15M | Nov 2025 | MHIP vs PBPH |
Best Risk-Adjusted Alternatives to MHIP
Among 57 ETFs in the Health & Biotech Equities category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 96.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Virtus LifeSci Biotech Clinical Trials ETF | 96 | 47.82M | Dec 2014 | MHIP vs BBC | |
| ALPS Medical Breakthroughs ETF | 95 | 202.25M | Dec 2014 | MHIP vs SBIO | |
| iShares U.S. Pharmaceuticals ETF | 95 | 1.58B | May 2006 | MHIP vs IHE | |
| First Trust Nasdaq Pharmaceuticals ETF | 94 | 95.33M | Sep 2016 | MHIP vs FTXH | |
| SPDR S&P Biotech ETF | 94 | 10.31B | Feb 2006 | MHIP vs XBI |
Top Performing MHIP Alternatives (YTD)
Among 63 ETFs in the Health & Biotech Equities category with YTD return data, the top-performing alternatives shown here go as high as 37.97%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| AdvisorShares Psychedelics ETF | 37.97% | 48.90M | Sep 2021 | MHIP vs PSIL | |
| ARK Genomic Revolution Multi-Sector ETF | 30.45% | 1.73B | Oct 2014 | MHIP vs ARKG | |
| Roundhill UNH WeeklyPay ETF | 29.35% | 6.92M | Dec 2025 | MHIP vs UNHW | |
| Virtus LifeSci Biotech Clinical Trials ETF | 28.99% | 47.82M | Dec 2014 | MHIP vs BBC | |
| ALPS Medical Breakthroughs ETF | 25.89% | 202.25M | Dec 2014 | MHIP vs SBIO |
Lowest Volatility Alternatives to MHIP
MHIP has 11.14% 1-year volatility. There are 4 ETFs in the Health & Biotech Equities category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Loncar Cancer Immunotherapy ETF | 0.00% | 12.73M | Oct 2015 | MHIP vs CNCR | |
| Amplify Treatments, Testing and Advancements ETF | 0.00% | 9.68M | Jun 2020 | MHIP vs GERM | |
| Horizon Kinetics SPAC Active ETF | 8.66% | 10.10M | Jun 2007 | MHIP vs SPAQ | |
| State Street Health Care Select Sector SPDR Premiu... | 11.01% | 18.71M | Jul 2025 | MHIP vs XLVI | |
| Global X Aging Population ETF | 14.04% | 86.65M | May 2016 | MHIP vs AGNG |
Lowest Drawdown Alternatives to MHIP
Among 58 ETFs in the Health & Biotech Equities category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Amplify Treatments, Testing and Advancements ETF | 0.00% | 9.68M | Jun 2020 | MHIP vs GERM | |
| Horizon Kinetics SPAC Active ETF | -4.27% | 10.10M | Jun 2007 | MHIP vs SPAQ | |
| First Trust Nasdaq Pharmaceuticals ETF | -7.47% | 95.33M | Sep 2016 | MHIP vs FTXH | |
| Invesco Nasdaq Biotechnology ETF | -8.34% | 75.55M | Jun 2021 | MHIP vs IBBQ | |
| iShares U.S. Pharmaceuticals ETF | -8.47% | 1.58B | May 2006 | MHIP vs IHE |
Other ETFs from Milliman
The 1 most viewed Milliman ETFs shown here include MHIG and span 1 categories. AUM among these funds goes as high as $989K.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Milliman Healthcare Inflation Guard ETF | Multistrategy | — | — | 988.51K | Apr 2026 | MHIP vs MHIG |
Often Compared With MHIP
Investors most often compare MHIP with CANC, ASD, PINK. These 20 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare MHIP with Any Fund or Stock
Compare MHIP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MHIP with funds that move differently
Milliman Healthcare Inflation Plus ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MHIP.
Explore MHIP Diversifiers