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IBRN vs. IHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IBRN vs. IHE

Last updated Jun 4, 2026

IBRN (iShares Neuroscience and Healthcare ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds from iShares - IBRN tracks the NYSE FactSet Global Neuro Biopharma and MedTech Index while IHE tracks the Dow Jones U.S. Select Pharmaceuticals Index. Both are passively managed. Over the past 3 years, IBRN returned 11.68%/yr vs 17.47%/yr for IHE. A 0.62 correlation means they provide meaningful diversification when combined. IBRN charges 0.47%/yr vs 0.42%/yr for IHE.

Performance

IBRN vs. IHE - Performance Comparison

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

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with IBRN having a 6.25% return and IHE slightly higher at 6.47%.

IBRN

1D
1.56%
1M
-1.78%
YTD
6.25%
6M
10.50%
1Y
52.08%
3Y*
11.68%
5Y*
—
10Y*
—

IHE

1D
1.16%
1M
1.80%
YTD
6.47%
6M
8.51%
1Y
40.15%
3Y*
17.47%
5Y*
9.98%
10Y*
7.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IBRN vs. IHE - Yearly Performance Comparison

2026 (YTD)2025202420232022
IBRN
iShares Neuroscience and Healthcare ETF		6.25%28.49%-2.78%0.92%5.85%
IHE
iShares U.S. Pharmaceuticals ETF		6.47%31.69%8.13%1.06%3.53%

Correlation

The correlation between IBRN and IHE is 0.61, 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

0.61

Correlation (3Y)
Calculated over the trailing 3-year period

0.59

Correlation (All Time)
Calculated using the full available price history since Aug 29, 2022

0.62

The correlation between IBRN and IHE has been stable across timeframes, ranging from 0.59 to 0.62 - a consistent structural relationship.

IBRN vs. IHE - Sectors Allocation Comparison

Sectors
IBRN
IHE

Healthcare

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IBRN
100.0%
IHE
100.0%

Basic Materials

IBRN

-

IHE

-

Communication Services

IBRN

-

IHE

-

Consumer Cyclical

IBRN

-

IHE

-

Consumer Defensive

IBRN

-

IHE

-

Energy

IBRN

-

IHE

-

Financial Services

IBRN

-

IHE

-

Industrials

IBRN

-

IHE

-

Real Estate

IBRN

-

IHE

-

Technology

IBRN

-

IHE

-

Utilities

IBRN

-

IHE

-

Compare stocks, funds, or ETFs

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iShares Neuroscience and Healthcare ETF

iShares U.S. Pharmaceuticals ETF

Often compared with IBRN:
IBRN vs. MEDIIBRN vs. IDNAIBRN vs. VOOIBRN vs. IHIIBRN vs. ACWIIBRN vs. SPYIBRN vs. SBIO
Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP

Return for Risk

IBRN vs. IHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IBRN
IBRN Risk / Return Rank: 6969
Overall Rank
IBRN Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IBRN Sortino Ratio Rank: 6363
Sortino Ratio Rank
IBRN Omega Ratio Rank: 5454
Omega Ratio Rank
IBRN Calmar Ratio Rank: 9191
Calmar Ratio Rank
IBRN Martin Ratio Rank: 7676
Martin Ratio Rank
IHE
IHE Risk / Return Rank: 7474
Overall Rank
IHE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IHE Sortino Ratio Rank: 7575
Sortino Ratio Rank
IHE Omega Ratio Rank: 6565
Omega Ratio Rank
IHE Calmar Ratio Rank: 8585
Calmar Ratio Rank
IHE Martin Ratio Rank: 7575
Martin Ratio Rank
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.

IBRN vs. IHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Neuroscience and Healthcare ETF (IBRN) 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.

IBRNIHEDifference
Sharpe ratioReturn per unit of total volatility
2.07
2.36

-0.29

Sortino ratioReturn per unit of downside risk
2.92
3.43

-0.52

Omega ratioGain probability vs. loss probability

1.33

1.40

-0.07

Calmar ratioReturn relative to maximum drawdown

5.95

4.76

+1.18

Martin ratioReturn relative to average drawdown

14.63

14.35

+0.29

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBRN vs. IHE - Sharpe Ratio Comparison

The current IBRN Sharpe Ratio is 2.07, which is comparable to the IHE Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of IBRN 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.

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Sharpe Ratios by Period

IBRNIHEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.07

2.36

-0.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.62

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.43

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.39

0.51

-0.12

Drawdowns

IBRN vs. IHE - Drawdown Comparison

The maximum IBRN drawdown since its inception was -35.38%, smaller than the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for IBRN and IHE.

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Drawdown Indicators

IBRNIHEDifference

Max Drawdown

Largest peak-to-trough decline

-35.38%

-38.20%

+2.82%

Max Drawdown (1Y)

Largest decline over 1 year

-8.80%

-8.47%

-0.33%

Max Drawdown (3Y)

Largest decline over 3 years

-35.38%

-15.92%

-19.46%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.03%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-29.59%

—

Current Drawdown

Current decline from peak

-4.82%

-2.80%

-2.02%

Average Drawdown

Average peak-to-trough decline

-9.83%

-7.92%

-1.91%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.57%

2.81%

+0.76%

Volatility

IBRN vs. IHE - Volatility Comparison

iShares Neuroscience and Healthcare ETF (IBRN) has a higher volatility of 7.69% compared to iShares U.S. Pharmaceuticals ETF (IHE) at 5.53%. This indicates that IBRN'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.

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Volatility by Period

IBRNIHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.69%

5.53%

+2.16%

Volatility (6M)

Calculated over the trailing 6-month period

19.08%

12.48%

+6.60%

Volatility (1Y)

Calculated over the trailing 1-year period

25.36%

17.07%

+8.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.32%

16.24%

+9.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.32%

18.05%

+7.27%

IBRN vs. IHE - Expense Ratio Comparison

IBRN has a 0.47% expense ratio, which is higher than IHE's 0.42% expense ratio.

Dividends

IBRN vs. IHE - Dividend Comparison

IBRN's dividend yield for the trailing twelve months is around 0.93%, less than IHE's 1.65% yield.

PositionTTM20252024202320222021202020192018201720162015
IBRN
iShares Neuroscience and Healthcare ETF		0.93%0.99%0.40%0.06%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
IHE
iShares U.S. Pharmaceuticals ETF		1.65%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

IBRN and IHE have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBRN has higher volatility (7.69%) compared to IHE (5.53%). In terms of maximum drawdown, IBRN dropped -35.38% vs IHE's -38.20%.

On 3-year performance, IHE leads with 17.47% vs 11.68% for IBRN. On fees, IHE is cheaper at 0.42% per year. On volatility, IHE has been the lower-risk option at 5.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IHE has performed better with a 17.47% return vs 11.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IHE is cheaper with a 0.42% expense ratio, compared with 0.47% for IBRN.

IHE has the higher dividend yield at 1.65%, compared with 0.93% for IBRN.

IBRN tracks NYSE FactSet Global Neuro Biopharma and MedTech Index, while IHE tracks Dow Jones U.S. Select Pharmaceuticals Index. Their fees differ too: 0.47% for IBRN and 0.42% for IHE.

IHE currently has the higher Sharpe Ratio (2.36 vs 2.07), 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.

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