FBTU.L vs. MHIP

Last updated Jul 18, 2026

FBTU.L (First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. At a 0.45 correlation, their price movements are largely independent. FBTU.L charges 0.60%/yr vs 0.55%/yr for MHIP.

Performance

FBTU.L vs. MHIP - 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 Milliman Healthcare Inflation Plus ETF (MHIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FBTU.L

• 1D: -0.82%
• 1M: 7.09%
• 6M: 16.49%
• YTD: 18.36%
• 1Y: 49.39%
• 3Y*: 16.54%
• 5Y*: 8.45%
• 10Y*: —

MHIP

• 1D: -0.29%
• 1M: 1.91%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBTU.L vs. MHIP - Yearly Performance Comparison

	2026 (YTD)
FBTU.L First Trust NYSE Arca Biotechnology UCITS ETF Class A USD Accumulating	18.63%
MHIP Milliman Healthcare Inflation Plus ETF	-0.15%

Correlation

The correlation between FBTU.L and MHIP is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026	0.45

Return for Risk

FBTU.L vs. MHIP — 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: 79
FBTU.L Sharpe Ratio Rank: 83
FBTU.L Sortino Ratio Rank: 83
FBTU.L Omega Ratio Rank: 79
FBTU.L Calmar Ratio Rank: 84
FBTU.L Martin Ratio Rank: 67

MHIP

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

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. MHIP - 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 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.

	FBTU.L	MHIP	Difference
Sharpe ratio: Return per unit of total volatility	2.05	—	—
Sortino ratio: Return per unit of downside risk	2.90	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	3.44	—	—
Martin ratio: Return relative to average drawdown	8.99	—	—

Drawdowns

FBTU.L vs. MHIP - Drawdown Comparison

The maximum FBTU.L drawdown since its inception was -33.73%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for FBTU.L and MHIP.

Drawdown Indicators

	FBTU.L	MHIP	Difference
Max Drawdown Largest peak-to-trough decline	-33.73%	-3.09%	-30.64%
Max Drawdown (1Y) Largest decline over 1 year	-14.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.97%	—	—
Current Drawdown Current decline from peak	-9.34%	-1.76%	-7.58%
Average Drawdown Average peak-to-trough decline	-12.80%	-1.29%	-11.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.47%	—	—

Volatility

Volatility by Period

	FBTU.L	MHIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	19.63%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.97%	11.46%	+12.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.52%	11.46%	+10.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.70%	11.46%	+10.24%

FBTU.L vs. MHIP - Expense Ratio Comparison

FBTU.L has a 0.60% expense ratio, which is higher than MHIP's 0.55% expense ratio.

Dividends

FBTU.L vs. MHIP - Dividend Comparison

Neither FBTU.L nor MHIP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

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

FBTU.L and MHIP have a correlation of 0.45, 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 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, FBTU.L or MHIP?

MHIP is cheaper with a 0.55% expense ratio, compared with 0.60% for FBTU.L.

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

They also come from different issuers: First Trust and Milliman. Their fees differ too: 0.60% for FBTU.L and 0.55% for MHIP.