IBB vs. MHIP
IBB (iShares Nasdaq Biotechnology ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. IBB is passively managed, while MHIP is actively managed. A 0.67 correlation means they provide meaningful diversification when combined. IBB charges 0.47%/yr vs 0.55%/yr for MHIP.
Performance
IBB vs. MHIP - Performance Comparison
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Returns By Period
IBB
- 1D
- -1.31%
- 1M
- 11.08%
- 6M
- 10.69%
- YTD
- 12.41%
- 1Y
- 44.41%
- 3Y*
- 14.23%
- 5Y*
- 3.87%
- 10Y*
- 7.91%
MHIP
- 1D
- -0.57%
- 1M
- 1.53%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBB vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IBB iShares Nasdaq Biotechnology ETF | 7.86% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.13% |
Correlation
The correlation between IBB and MHIP is 0.67, 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 | 0.67 |
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Return for Risk
IBB vs. MHIP — Risk / Return Rank
IBB
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBB vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Nasdaq Biotechnology ETF (IBB) 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.
| IBB | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.63 | — | — |
| Martin ratioReturn relative to average drawdown | 14.26 | — | — |
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Drawdowns
IBB vs. MHIP - Drawdown Comparison
The maximum IBB drawdown since its inception was -62.85%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for IBB and MHIP.
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Drawdown Indicators
| IBB | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.85% | -3.09% | -59.76% |
Max Drawdown (1Y)Largest decline over 1 year | -9.63% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -24.85% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -39.82% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.82% | — | — |
Current DrawdownCurrent decline from peak | -4.38% | -1.48% | -2.90% |
Average DrawdownAverage peak-to-trough decline | -21.10% | -1.25% | -19.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | — | — |
Volatility
IBB vs. MHIP - Volatility Comparison
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Volatility by Period
| IBB | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.22% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.67% | 11.73% | +8.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.14% | 11.73% | +10.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.14% | 11.73% | +11.41% |
IBB vs. MHIP - Expense Ratio Comparison
IBB has a 0.47% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
IBB vs. MHIP - Dividend Comparison
IBB's dividend yield for the trailing twelve months is around 0.22%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBB iShares Nasdaq Biotechnology ETF | 0.22% | 0.23% | 0.29% | 0.26% | 0.31% | 0.21% | 0.21% | 0.33% | 0.20% | 0.30% | 0.19% | 0.03% |
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
IBB and MHIP have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBB is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBB is cheaper with a 0.47% expense ratio, compared with 0.55% for MHIP.
IBB has the higher dividend yield at 0.22%, compared with 0.00% for MHIP.
They also come from different issuers: iShares and Milliman. Their fees differ too: 0.47% for IBB and 0.55% for MHIP.
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