BND vs. IHI
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 1.43%/yr vs 8.42%/yr for IHI. At a correlation of -0.06, they often move in opposite directions. BND charges 0.03%/yr vs 0.38%/yr for IHI.
Performance
BND vs. IHI - Performance Comparison
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Returns By Period
In the year-to-date period, BND achieves a 0.08% return, which is significantly higher than IHI's -18.43% return. Over the past 10 years, BND has underperformed IHI with an annualized return of 1.43%, while IHI has yielded a comparatively higher 8.42% annualized return.
BND
- 1D
- -0.25%
- 1M
- -0.57%
- 6M
- -0.09%
- YTD
- 0.08%
- 1Y
- 3.77%
- 3Y*
- 3.82%
- 5Y*
- -0.23%
- 10Y*
- 1.43%
- ALL TIME*
- 3.03%
IHI
- 1D
- 0.14%
- 1M
- 3.08%
- 6M
- -18.01%
- YTD
- -18.43%
- 1Y
- -15.42%
- 3Y*
- -3.77%
- 5Y*
- -3.32%
- 10Y*
- 8.42%
- ALL TIME*
- 9.83%
BND vs. IHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 0.08% | 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 | -18.43% | 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 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
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 0.31 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BND vs. IHI — Risk / Return Rank
BND
IHI
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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BND | IHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.81 | ||
| Sortino ratioReturn per unit of downside risk | +2.56 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 0.88 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 1.41 | -0.59 | +2.01 |
| Martin ratioReturn relative to average drawdown | 3.81 | -1.22 | +5.03 |
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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.
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Drawdown Indicators
| BND | IHI | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 | -5.59% | -26.64% | +21.05% |
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 DrawdownCurrent decline from peak | -2.55% | -22.98% | +20.43% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -8.41% | +5.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.99% | 12.70% | -11.71% |
Volatility
BND vs. IHI - Volatility Comparison
The current volatility for Vanguard Total Bond Market ETF (BND) is 1.08%, while iShares U.S. Medical Devices ETF (IHI) has a volatility of 9.63%. 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.
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Volatility by Period
| BND | IHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.08% | 9.63% | -8.55% |
Volatility (6M)Calculated over the trailing 6-month period | 2.87% | 16.15% | -13.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.72% | 19.55% | -15.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 19.48% | -13.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 19.98% | -14.45% |
BND vs. IHI - Expense Ratio Comparison
BND has a 0.03% expense ratio, which is lower than IHI's 0.38% expense ratio.
Dividends
BND vs. IHI - Dividend Comparison
BND's dividend yield for the trailing twelve months is around 4.00%, more than IHI's 0.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 4.00% | 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 | 0.48% | 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 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHI has higher volatility (9.63%) compared to BND (1.08%). In terms of maximum drawdown, BND dropped -18.58% vs IHI's -49.65%.
On 10-year performance, IHI leads with 8.42% vs 1.43% for BND. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.08%. 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 8.42% return vs 1.43%. 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 0.38% for IHI.
BND has the higher dividend yield at 4.00%, compared with 0.48% 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 0.38% for IHI.
BND currently has the higher Sharpe Ratio (1.02 vs -0.79), 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.
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