EW vs. IHI
EW (Edwards Lifesciences Corporation) is a stock, while IHI (iShares U.S. Medical Devices ETF) is Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index. Over the past 10 years, EW returned 8.56%/yr vs 8.58%/yr for IHI. Their 0.63 correlation means they have sometimes moved together and sometimes differently.
Performance
EW vs. IHI - Performance Comparison
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Returns By Period
In the year-to-date period, EW achieves a 0.96% return, which is significantly higher than IHI's -15.32% return. Both investments have delivered pretty close results over the past 10 years, with EW having a 8.56% annualized return and IHI not far ahead at 8.58%.
EW
- 1D
- -0.98%
- 1M
- -8.80%
- 6M
- 5.79%
- YTD
- 0.96%
- 1Y
- 8.50%
- 3Y*
- 1.61%
- 5Y*
- -5.18%
- 10Y*
- 8.56%
- ALL TIME*
- 17.35%
IHI
- 1D
- -0.44%
- 1M
- 1.21%
- 6M
- -12.40%
- YTD
- -15.32%
- 1Y
- -11.60%
- 3Y*
- -1.46%
- 5Y*
- -3.35%
- 10Y*
- 8.58%
- ALL TIME*
- 10.02%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $480.40M | $453.68M | $434.27M | |
| $145.90M | $167.07M | $148.77M |
EW vs. IHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EW Edwards Lifesciences Corporation | 0.96% | 15.16% | -2.91% | 2.20% | -42.41% | 42.00% | 17.32% | 52.31% | 35.90% | 20.29% |
IHI iShares U.S. Medical Devices ETF | -15.32% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.17% | 32.75% | 15.45% | 30.81% |
Correlation
The correlation between EW and IHI is 0.54, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.54 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.63 |
The correlation between EW and IHI shifts across timeframes, from 0.54 (1 year) to 0.70 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
EW vs. IHI — Risk / Return Rank
EW
IHI
EW vs. IHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Edwards Lifesciences Corporation (EW) 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.
| EW | IHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.95 | ||
| Sortino ratioReturn per unit of downside risk | +1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.92 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.65 | -0.45 | +1.10 |
| Martin ratioReturn relative to average drawdown | 1.51 | -0.88 | +2.39 |
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Drawdowns
EW vs. IHI - Drawdown Comparison
The maximum EW drawdown since its inception was -54.32%, which is greater than IHI's maximum drawdown of -49.65%. Use the drawdown chart below to compare losses from any high point for EW and IHI.
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Drawdown Indicators
| EW | IHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.32% | -49.65% | -4.67% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -26.11% | +12.92% |
Max Drawdown (3Y)Largest decline over 3 years | -37.53% | -26.64% | -10.89% |
Max Drawdown (5Y)Largest decline over 5 years | -54.32% | -33.12% | -21.20% |
Max Drawdown (10Y)Largest decline over 10 years | -54.32% | -33.25% | -21.07% |
Current DrawdownCurrent decline from peak | -34.14% | -20.04% | -14.10% |
Average DrawdownAverage peak-to-trough decline | -14.57% | -8.43% | -6.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.65% | 13.27% | -7.62% |
Volatility
EW vs. IHI - Volatility Comparison
The current volatility for Edwards Lifesciences Corporation (EW) is 7.05%, while iShares U.S. Medical Devices ETF (IHI) has a volatility of 9.58%. This indicates that EW 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
| EW | IHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.05% | 9.58% | -2.53% |
Volatility (6M)Calculated over the trailing 6-month period | 19.74% | 16.58% | +3.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.34% | 19.90% | +4.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.70% | 19.55% | +13.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.23% | 20.01% | +12.22% |
Dividends
EW vs. IHI - Dividend Comparison
EW has not paid dividends to shareholders, while IHI's dividend yield for the trailing twelve months is around 0.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EW Edwards Lifesciences Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IHI iShares U.S. Medical Devices ETF | 0.46% | 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
EW and IHI have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHI has higher volatility (9.58%) compared to EW (7.05%). In terms of maximum drawdown, EW dropped -54.32% vs IHI's -49.65%.
EW currently has the higher Sharpe Ratio (0.35 vs -0.59), 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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