FBTU.L vs. IHE

Last updated Jun 5, 2026

FBTU.L (First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds. Over the past 5 years, FBTU.L returned 6.94%/yr vs 10.57%/yr for IHE. At a 0.41 correlation, their price movements are largely independent. FBTU.L charges 0.60%/yr vs 0.42%/yr for IHE.

Performance

FBTU.L vs. IHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating (FBTU.L) and iShares U.S. Pharmaceuticals ETF (IHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBTU.L achieves a 8.73% return, which is significantly lower than IHE's 9.33% return.

FBTU.L

• 1D: 4.34%
• 1M: 9.71%
• YTD: 8.73%
• 6M: 6.95%
• 1Y: 38.25%
• 3Y*: 13.28%
• 5Y*: 6.94%
• 10Y*: —

IHE

• 1D: 2.69%
• 1M: 3.48%
• YTD: 9.33%
• 6M: 12.42%
• 1Y: 43.59%
• 3Y*: 18.33%
• 5Y*: 10.57%
• 10Y*: 7.97%

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

FBTU.L vs. IHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FBTU.L First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating	8.73%	25.95%	4.74%	3.91%	-5.96%	-3.77%	3.88%
IHE iShares U.S. Pharmaceuticals ETF	9.33%	31.69%	8.13%	1.06%	-4.87%	13.07%	15.06%

Correlation

The correlation between FBTU.L and IHE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.43
Correlation (5Y) Calculated over the trailing 5-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020	0.41

The correlation between FBTU.L and IHE has been stable across timeframes, ranging from 0.41 to 0.51 - a consistent structural relationship.

FBTU.L vs. IHE - Sectors Allocation Comparison

Sectors	FBTU.L	IHE
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FBTU.L vs. IHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FBTU.L

FBTU.L Risk / Return Rank: 52
FBTU.L Sharpe Ratio Rank: 54
FBTU.L Sortino Ratio Rank: 57
FBTU.L Omega Ratio Rank: 49
FBTU.L Calmar Ratio Rank: 55
FBTU.L Martin Ratio Rank: 45

IHE

IHE Risk / Return Rank: 81
IHE Sharpe Ratio Rank: 79
IHE Sortino Ratio Rank: 83
IHE Omega Ratio Rank: 73
IHE Calmar Ratio Rank: 88
IHE Martin Ratio Rank: 80

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.

FBTU.L vs. IHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating (FBTU.L) and iShares U.S. Pharmaceuticals ETF (IHE). 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.

	FBTU.L	IHE	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.54	-0.75
Sortino ratio: Return per unit of downside risk	2.66	3.67	-1.01
Omega ratio: Gain probability vs. loss probability	1.30	1.43	-0.12
Calmar ratio: Return relative to maximum drawdown	2.66	5.17	-2.51
Martin ratio: Return relative to average drawdown	7.17	15.58	-8.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBTU.L vs. IHE - Sharpe Ratio Comparison

The current FBTU.L Sharpe Ratio is 1.79, which is comparable to the IHE Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of FBTU.L and IHE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBTU.L	IHE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	2.54	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.65	-0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	0.51	-0.24

Drawdowns

FBTU.L vs. IHE - Drawdown Comparison

The maximum FBTU.L drawdown since its inception was -33.73%, smaller than the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for FBTU.L and IHE.

Drawdown Indicators

	FBTU.L	IHE	Difference
Max Drawdown Largest peak-to-trough decline	-33.73%	-38.20%	+4.47%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	-8.47%	-5.83%
Max Drawdown (3Y) Largest decline over 3 years	-22.47%	-15.92%	-6.55%
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	-16.03%	-13.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.59%	—
Current Drawdown Current decline from peak	0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-13.11%	-7.92%	-5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	2.81%	+2.51%

Volatility

FBTU.L vs. IHE - Volatility Comparison

First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating (FBTU.L) has a higher volatility of 7.25% compared to iShares U.S. Pharmaceuticals ETF (IHE) at 6.04%. This indicates that FBTU.L's price experiences larger fluctuations and is considered to be riskier than IHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBTU.L	IHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.25%	6.04%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	16.34%	12.70%	+3.64%
Volatility (1Y) Calculated over the trailing 1-year period	21.31%	17.26%	+4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	16.28%	+4.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.38%	18.07%	+3.31%

FBTU.L vs. IHE - Expense Ratio Comparison

FBTU.L has a 0.60% expense ratio, which is higher than IHE's 0.42% expense ratio.

Dividends

FBTU.L vs. IHE - Dividend Comparison

FBTU.L has not paid dividends to shareholders, while IHE's dividend yield for the trailing twelve months is around 1.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTU.L First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IHE iShares U.S. Pharmaceuticals ETF	1.61%	1.76%	1.73%	1.39%	2.01%	1.49%	1.19%	1.40%	1.25%	1.36%	0.92%	1.93%

Frequently Asked Questions

Can I hold both FBTU.L and IHE in my portfolio?

FBTU.L and IHE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBTU.L or IHE?

On fees, IHE is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBTU.L or IHE?

IHE is cheaper with a 0.42% expense ratio, compared with 0.60% for FBTU.L.

What is the main difference between FBTU.L and IHE?

They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for FBTU.L and 0.42% for IHE.