PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
IBBQ vs. IHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBBQ vs. IHE

Last updated Aug 2, 2026
Documentation

IBBQ (Invesco Nasdaq Biotechnology ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds - IBBQ tracks the Nasdaq Biotechnology Index while IHE tracks the Dow Jones U.S. Select Pharmaceuticals Index. Both are passively managed. Over the past 5 years, IBBQ returned 5.42%/yr vs 11.63%/yr for IHE. Their 0.70 correlation means they have sometimes moved together and sometimes differently. IBBQ charges 0.19%/yr vs 0.38%/yr for IHE.

Performance

IBBQ vs. IHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotechnology ETF (IBBQ) and iShares U.S. Pharmaceuticals ETF (IHE). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, IBBQ achieves a 13.32% return, which is significantly lower than IHE's 20.55% return.

IBBQ

1D
-1.84%
1M
-4.55%
6M
10.60%
YTD
13.32%
1Y
44.71%
3Y*
17.25%
5Y*
5.42%
10Y*
—
ALL TIME*
5.57%

IHE

1D
-0.82%
1M
0.65%
6M
17.97%
YTD
20.55%
1Y
54.85%
3Y*
20.96%
5Y*
11.63%
10Y*
8.59%
ALL TIME*
10.94%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IBBQ

Invesco Nasdaq Biotechnology ETF
$517.67K$836.57K$727.46K

IHE

iShares U.S. Pharmaceuticals ETF
$36.03M$39.50M$21.12M

IBBQ vs. IHE - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IBBQ
Invesco Nasdaq Biotechnology ETF		13.32%33.32%-0.63%4.73%-10.41%-6.24%
IHE
iShares U.S. Pharmaceuticals ETF		20.55%31.69%8.13%1.06%-4.87%6.22%

Correlation

The correlation between IBBQ and IHE is 0.76, 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.

0.76

Correlation (3Y)
Balances recent behavior with more history.

0.72

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.70

Correlation (All Time)
Calculated using the full available price history since Jun 11, 2021

0.70

The correlation between IBBQ and IHE has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

IBBQ vs. IHE - Sectors Allocation Comparison

Sectors
IBBQ
IHE

Healthcare

100.0%
100.0%

Consumer Defensive

0.2%

-

Consumer Cyclical

0.1%

-

Financial Services

0.1%

-

Industrials

0.0%

-

Basic Materials

-

-

Communication Services

-

-

Energy

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IBBQ
100.0%
IHE
100.0%

Consumer Defensive

IBBQ
0.2%
IHE

-

Consumer Cyclical

IBBQ
0.1%
IHE

-

Financial Services

IBBQ
0.1%
IHE

-

Industrials

IBBQ
0.0%
IHE

-

Basic Materials

IBBQ

-

IHE

-

Communication Services

IBBQ

-

IHE

-

Energy

IBBQ

-

IHE

-

Real Estate

IBBQ

-

IHE

-

Technology

IBBQ

-

IHE

-

Utilities

IBBQ

-

IHE

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Nasdaq Biotechnology ETF

iShares U.S. Pharmaceuticals ETF

Often compared with IBBQ:
IBBQ vs. IBBIBBQ vs. XBIIBBQ vs. BBHIBBQ vs. GNOMIBBQ vs. BBPIBBQ vs. BBCIBBQ vs. BIS
Often compared with IHE:
IHE vs. PPHIHE vs. XLVIHE vs. XPHIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP

Return for Risk

IBBQ vs. IHE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IBBQ
IBBQ Risk / Return Rank: 9191
Overall Rank
IBBQ Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
IBBQ Sortino Ratio Rank: 9090
Sortino Ratio Rank
IBBQ Omega Ratio Rank: 8585
Omega Ratio Rank
IBBQ Calmar Ratio Rank: 9595
Calmar Ratio Rank
IBBQ Martin Ratio Rank: 9292
Martin Ratio Rank
IHE
IHE Risk / Return Rank: 9696
Overall Rank
IHE Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
IHE Sortino Ratio Rank: 9696
Sortino Ratio Rank
IHE Omega Ratio Rank: 9595
Omega Ratio Rank
IHE Calmar Ratio Rank: 9696
Calmar Ratio Rank
IHE Martin Ratio Rank: 9595
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IBBQ vs. IHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) 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.

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.

IBBQIHEDifference
Sharpe ratioReturn per unit of total volatility
2.27
3.23

-0.96

Sortino ratioReturn per unit of downside risk
3.12
4.66

-1.53

Omega ratioGain probability vs. loss probability

1.37

1.54

-0.17

Calmar ratioReturn relative to maximum drawdown

5.49

6.80

-1.31

Martin ratioReturn relative to average drawdown

15.87

20.95

-5.08

IBBQ vs. IHE - Sharpe Ratio Comparison

The current IBBQ Sharpe Ratio is 2.27, which is comparable to the IHE Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of IBBQ 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.

Loading charts...

Drawdowns

IBBQ vs. IHE - Drawdown Comparison

The maximum IBBQ drawdown since its inception was -37.94%, roughly equal to the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for IBBQ and IHE.

Loading charts...

Drawdown Indicators

IBBQIHEDifference

Max Drawdown

Largest peak-to-trough decline

-37.94%

-38.20%

+0.26%

Max Drawdown (1Y)

Largest decline over 1 year

-8.34%

-8.47%

+0.13%

Max Drawdown (3Y)

Largest decline over 3 years

-23.66%

-15.92%

-7.74%

Max Drawdown (5Y)

Largest decline over 5 years

-37.94%

-16.03%

-21.91%

Max Drawdown (10Y)

Largest decline over 10 years

—

-29.59%

—

Current Drawdown

Current decline from peak

-6.14%

-2.25%

-3.89%

Average Drawdown

Average peak-to-trough decline

-16.38%

-7.86%

-8.52%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.88%

2.74%

+0.14%

Volatility

IBBQ vs. IHE - Volatility Comparison

Invesco Nasdaq Biotechnology ETF (IBBQ) and iShares U.S. Pharmaceuticals ETF (IHE) have volatilities of 6.31% and 6.33%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

IBBQIHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.31%

6.33%

-0.02%

Volatility (6M)

Calculated over the trailing 6-month period

15.72%

13.96%

+1.76%

Volatility (1Y)

Calculated over the trailing 1-year period

20.18%

17.99%

+2.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.98%

16.53%

+5.45%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.85%

18.07%

+3.78%

IBBQ vs. IHE - Expense Ratio Comparison

IBBQ has a 0.19% expense ratio, which is lower than IHE's 0.38% expense ratio.

Dividends

IBBQ vs. IHE - Dividend Comparison

IBBQ's dividend yield for the trailing twelve months is around 0.80%, less than IHE's 1.44% yield.

PositionTTM20252024202320222021202020192018201720162015
IBBQ
Invesco Nasdaq Biotechnology ETF		0.80%0.90%1.14%0.81%0.76%0.63%0.00%0.00%0.00%0.00%0.00%0.00%
IHE
iShares U.S. Pharmaceuticals ETF		1.44%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

IBBQ and IHE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IHE has higher volatility (6.33%) compared to IBBQ (6.31%). In terms of maximum drawdown, IBBQ dropped -37.94% vs IHE's -38.20%.

On 5-year performance, IHE leads with 11.63% vs 5.42% for IBBQ. On fees, IBBQ is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, IHE has performed better with a 11.63% return vs 5.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IBBQ is cheaper with a 0.19% expense ratio, compared with 0.38% for IHE.

IHE has the higher dividend yield at 1.44%, compared with 0.80% for IBBQ.

IBBQ tracks Nasdaq Biotechnology Index, while IHE tracks Dow Jones U.S. Select Pharmaceuticals Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.19% for IBBQ and 0.38% for IHE.

IHE currently has the higher Sharpe Ratio (3.23 vs 2.27), 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.

Portfolio Optimizer

Find the right allocation for IBBQ and IHE

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer