FHLC vs. MHIP
FHLC (Fidelity MSCI Health Care Index ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. FHLC is passively managed, while MHIP is actively managed. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FHLC charges 0.08%/yr vs 0.55%/yr for MHIP.
Performance
FHLC vs. MHIP - Performance Comparison
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Returns By Period
FHLC
- 1D
- -0.87%
- 1M
- -1.15%
- 6M
- 6.97%
- YTD
- 6.75%
- 1Y
- 27.92%
- 3Y*
- 9.06%
- 5Y*
- 5.04%
- 10Y*
- 9.78%
- ALL TIME*
- 10.72%
MHIP
- 1D
- -0.57%
- 1M
- -1.07%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $13.10M | $18.62M | $15.92M | |
| $1.35K | $877.58 | $4.08K |
FHLC vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
FHLC Fidelity MSCI Health Care Index ETF | 10.76% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.20% |
Correlation
The correlation between FHLC and MHIP is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.72 |
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Return for Risk
FHLC vs. MHIP — Risk / Return Rank
FHLC
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FHLC vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Health Care Index ETF (FHLC) 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.
| FHLC | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.33 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | — | — |
| Martin ratioReturn relative to average drawdown | 6.86 | — | — |
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Drawdowns
FHLC vs. MHIP - Drawdown Comparison
The maximum FHLC drawdown since its inception was -28.76%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for FHLC and MHIP.
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Drawdown Indicators
| FHLC | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.76% | -3.09% | -25.67% |
Max Drawdown (1Y)Largest decline over 1 year | -10.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -16.87% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.73% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.76% | — | — |
Current DrawdownCurrent decline from peak | -2.78% | -1.41% | -1.37% |
Average DrawdownAverage peak-to-trough decline | -5.16% | -1.30% | -3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | — | — |
Volatility
FHLC vs. MHIP - Volatility Comparison
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Volatility by Period
| FHLC | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.57% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 15.36% | 10.97% | +4.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.25% | 10.97% | +4.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.89% | 10.97% | +5.92% |
FHLC vs. MHIP - Expense Ratio Comparison
FHLC has a 0.08% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
FHLC vs. MHIP - Dividend Comparison
FHLC's dividend yield for the trailing twelve months is around 1.30%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHLC Fidelity MSCI Health Care Index ETF | 1.30% | 1.40% | 1.51% | 1.40% | 1.30% | 1.16% | 1.45% | 1.18% | 1.38% | 1.38% | 1.40% | 2.07% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FHLC and MHIP have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FHLC is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FHLC is cheaper with a 0.08% expense ratio, compared with 0.55% for MHIP.
FHLC has the higher dividend yield at 1.30%, compared with 0.00% for MHIP.
They also come from different issuers: Fidelity and Milliman. Their fees differ too: 0.08% for FHLC and 0.55% for MHIP.
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