DVXV vs. MHIP

Last updated Jul 17, 2026

DVXV (WEBs Health Care XLV Defined Volatility ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. DVXV is passively managed, while MHIP is actively managed. A 0.63 correlation means they provide meaningful diversification when combined. DVXV charges 0.89%/yr vs 0.55%/yr for MHIP.

Performance

DVXV vs. MHIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Health Care XLV Defined Volatility ETF (DVXV) and Milliman Healthcare Inflation Plus ETF (MHIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DVXV

• 1D: 2.09%
• 1M: 6.29%
• 6M: 2.31%
• YTD: 4.43%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MHIP

• 1D: 0.60%
• 1M: 0.71%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DVXV vs. MHIP - Yearly Performance Comparison

	2026 (YTD)
DVXV WEBs Health Care XLV Defined Volatility ETF	11.35%
MHIP Milliman Healthcare Inflation Plus ETF	0.14%

Correlation

The correlation between DVXV and MHIP is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026	0.63

Return for Risk

DVXV vs. MHIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Health Care XLV Defined Volatility ETF (DVXV) and Milliman Healthcare Inflation Plus ETF (MHIP). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

DVXV vs. MHIP - Drawdown Comparison

The maximum DVXV drawdown since its inception was -14.36%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for DVXV and MHIP.

Drawdown Indicators

	DVXV	MHIP	Difference
Max Drawdown Largest peak-to-trough decline	-14.36%	-3.09%	-11.27%
Current Drawdown Current decline from peak	-1.90%	-1.47%	-0.43%
Average Drawdown Average peak-to-trough decline	-4.69%	-1.28%	-3.41%

Volatility

Volatility by Period

	DVXV	MHIP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	21.62%	11.54%	+10.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	11.54%	+10.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.62%	11.54%	+10.08%

DVXV vs. MHIP - Expense Ratio Comparison

DVXV has a 0.89% expense ratio, which is higher than MHIP's 0.55% expense ratio.

Dividends

DVXV vs. MHIP - Dividend Comparison

Neither DVXV nor MHIP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DVXV and MHIP in my portfolio?

DVXV and MHIP have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DVXV or MHIP?

On fees, MHIP is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DVXV or MHIP?

MHIP is cheaper with a 0.55% expense ratio, compared with 0.89% for DVXV.

Which ETF pays a higher dividend yield, DVXV or MHIP?

DVXV and MHIP have nearly identical dividend yields, around 0.00%.

What is the main difference between DVXV and MHIP?

They also come from different issuers: WEBs and Milliman. Their fees differ too: 0.89% for DVXV and 0.55% for MHIP.