PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
BND vs. IHI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BND vs. IHI

Last updated Jun 9, 2026

BND (Vanguard Total Bond Market ETF) and IHI (iShares U.S. Medical Devices ETF) are both exchange-traded funds - BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index, while IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index. Both are passively managed. Over the past 10 years, BND returned 1.53%/yr vs 8.79%/yr for IHI. At a correlation of -0.06, they often move in opposite directions. BND charges 0.03%/yr vs 0.43%/yr for IHI.

Performance

BND vs. IHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Bond Market ETF (BND) and iShares U.S. Medical Devices ETF (IHI). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, BND achieves a -0.07% return, which is significantly higher than IHI's -19.71% return. Over the past 10 years, BND has underperformed IHI with an annualized return of 1.53%, while IHI has yielded a comparatively higher 8.79% annualized return.

BND

1D
-0.03%
1M
-0.67%
YTD
-0.07%
6M
0.23%
1Y
4.87%
3Y*
3.89%
5Y*
-0.05%
10Y*
1.53%

IHI

1D
-0.44%
1M
1.73%
YTD
-19.71%
6M
-19.80%
1Y
-19.39%
3Y*
-1.88%
5Y*
-2.08%
10Y*
8.79%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BND vs. IHI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BND
Vanguard Total Bond Market ETF		-0.07%7.08%1.38%5.65%-13.11%-1.86%7.71%8.84%-0.12%3.57%
IHI
iShares U.S. Medical Devices ETF		-19.71%6.88%8.62%3.24%-19.80%21.03%24.17%32.75%15.45%30.81%

Correlation

The correlation between BND and IHI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.12

Correlation (All Time)
Calculated using the full available price history since Apr 10, 2007

-0.06

The correlation between BND and IHI shifts across timeframes, from -0.06 (all time) to 0.30 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Total Bond Market ETF

iShares U.S. Medical Devices ETF

Often compared with BND:
BND vs. BNDXBND vs. FXNAXBND vs. AGGBND vs. FBNDBND vs. BNDWBND vs. TLTBND vs. VBTLX
Often compared with IHI:
IHI vs. XLVIHI vs. VHTIHI vs. XHEIHI vs. SPYIHI vs. FHLCIHI vs. IHFIHI vs. IXJ

Return for Risk

BND vs. IHI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BND
BND Risk / Return Rank: 4040
Overall Rank
BND Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
BND Sortino Ratio Rank: 4343
Sortino Ratio Rank
BND Omega Ratio Rank: 3838
Omega Ratio Rank
BND Calmar Ratio Rank: 4040
Calmar Ratio Rank
BND Martin Ratio Rank: 3838
Martin Ratio Rank
IHI
IHI Risk / Return Rank: 11
Overall Rank
IHI Sharpe Ratio Rank: 11
Sharpe Ratio Rank
IHI Sortino Ratio Rank: 11
Sortino Ratio Rank
IHI Omega Ratio Rank: 11
Omega Ratio Rank
IHI Calmar Ratio Rank: 33
Calmar Ratio Rank
IHI Martin Ratio Rank: 00
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BND vs. IHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Bond Market ETF (BND) and iShares U.S. Medical Devices ETF (IHI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

BNDIHIDifference
Sharpe ratioReturn per unit of total volatility
1.32
-1.15

+2.46

Sortino ratioReturn per unit of downside risk
1.96
-1.60

+3.56

Omega ratioGain probability vs. loss probability

1.23

0.82

+0.41

Calmar ratioReturn relative to maximum drawdown

1.83

-0.75

+2.57

Martin ratioReturn relative to average drawdown

5.43

-1.85

+7.28

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BND vs. IHI - Sharpe Ratio Comparison

The current BND Sharpe Ratio is 1.32, which is higher than the IHI Sharpe Ratio of -1.15. The chart below compares the historical Sharpe Ratios of BND and IHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

BNDIHIDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.32

-1.15

+2.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.01

-0.11

+0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.28

0.45

-0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.47

+0.11

Drawdowns

BND vs. IHI - Drawdown Comparison

The maximum BND drawdown since its inception was -18.58%, smaller than the maximum IHI drawdown of -49.65%. Use the drawdown chart below to compare losses from any high point for BND and IHI.

Loading charts...

Drawdown Indicators

BNDIHIDifference

Max Drawdown

Largest peak-to-trough decline

-18.58%

-49.65%

+31.07%

Max Drawdown (1Y)

Largest decline over 1 year

-2.68%

-26.11%

+23.43%

Max Drawdown (3Y)

Largest decline over 3 years

-5.92%

-26.64%

+20.72%

Max Drawdown (5Y)

Largest decline over 5 years

-17.91%

-33.12%

+15.21%

Max Drawdown (10Y)

Largest decline over 10 years

-18.58%

-33.25%

+14.67%

Current Drawdown

Current decline from peak

-2.70%

-24.19%

+21.49%

Average Drawdown

Average peak-to-trough decline

-3.06%

-8.33%

+5.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.90%

10.48%

-9.58%

Volatility

BND vs. IHI - Volatility Comparison

The current volatility for Vanguard Total Bond Market ETF (BND) is 1.20%, while iShares U.S. Medical Devices ETF (IHI) has a volatility of 7.01%. This indicates that BND experiences smaller price fluctuations and is considered to be less risky than IHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

BNDIHIDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.20%

7.01%

-5.81%

Volatility (6M)

Calculated over the trailing 6-month period

2.69%

13.06%

-10.37%

Volatility (1Y)

Calculated over the trailing 1-year period

3.72%

17.00%

-13.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.02%

18.99%

-12.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.53%

19.80%

-14.27%

BND vs. IHI - Expense Ratio Comparison

BND has a 0.03% expense ratio, which is lower than IHI's 0.43% expense ratio.

Dividends

BND vs. IHI - Dividend Comparison

BND's dividend yield for the trailing twelve months is around 3.98%, more than IHI's 0.45% yield.

PositionTTM20252024202320222021202020192018201720162015
BND
Vanguard Total Bond Market ETF		3.98%3.86%3.67%3.09%2.60%2.12%2.38%2.72%2.81%2.54%2.51%2.57%
IHI
iShares U.S. Medical Devices ETF		0.45%0.34%0.46%0.53%0.45%0.25%0.25%0.33%0.26%0.37%0.55%1.28%

Frequently Asked Questions

BND and IHI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IHI has higher volatility (7.01%) compared to BND (1.20%). In terms of maximum drawdown, BND dropped -18.58% vs IHI's -49.65%.

On 10-year performance, IHI leads with 8.79% vs 1.53% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IHI has performed better with a 8.79% return vs 1.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BND is cheaper with a 0.03% expense ratio, compared with 0.43% for IHI.

BND has the higher dividend yield at 3.98%, compared with 0.45% for IHI.

BND is categorized as Total Bond Market, while IHI is Health & Biotech Equities. BND tracks Bloomberg U.S. Aggregate Float Adjusted Index, while IHI tracks Dow Jones U.S. Select Medical Equipment Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.03% for BND and 0.43% for IHI.

BND currently has the higher Sharpe Ratio (1.32 vs -1.15), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

Portfolio Optimizer

Find the right allocation for BND and IHI

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer