IBRN vs. IHI

Last updated Aug 2, 2026

IBRN (iShares Neuroscience and Healthcare ETF) and IHI (iShares U.S. Medical Devices ETF) are both Health & Biotech Equities funds from iShares - IBRN tracks the NYSE FactSet Global Neuro Biopharma and MedTech Index while IHI tracks the Dow Jones U.S. Select Medical Equipment Index. Both are passively managed. Over the past 3 years, IBRN returned 14.57%/yr vs -1.46%/yr for IHI. Their 0.48 correlation means their historical movements had little consistent relationship. IBRN charges 0.47%/yr vs 0.38%/yr for IHI.

Performance

IBRN vs. IHI - 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. Medical Devices ETF (IHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBRN achieves a 13.26% return, which is significantly higher than IHI's -15.32% return.

IBRN

• 1D: -3.24%
• 1M: -6.28%
• 6M: 12.31%
• YTD: 13.26%
• 1Y: 59.23%
• 3Y*: 14.57%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.28%

IHI

• 1D: -0.44%
• 1M: 1.21%
• 6M: -12.40%
• YTD: -15.32%
• 1Y: -11.60%
• 3Y*: -1.46%
• 5Y*: -3.35%
• 10Y*: 8.58%
• ALL TIME*: 10.02%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBRN iShares Neuroscience and Healthcare ETF	$83.61K	$123.63K	$97.37K
IHI iShares U.S. Medical Devices ETF	$145.90M	$167.07M	$148.77M

IBRN vs. IHI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IBRN iShares Neuroscience and Healthcare ETF	13.26%	28.49%	-2.78%	0.92%	2.87%
IHI iShares U.S. Medical Devices ETF	-15.32%	6.88%	8.62%	3.24%	-1.25%

Correlation

The correlation between IBRN and IHI is 0.30, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.30
Correlation (3Y) Balances recent behavior with more history.	0.43
Correlation (All Time) Calculated using the full available price history since Aug 26, 2022	0.48

The correlation between IBRN and IHI shifts across timeframes, from 0.30 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

IBRN vs. IHI - Sectors Allocation Comparison

Sectors	IBRN	IHI
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	0.2%
Real Estate	-	-
Technology	-	0.3%
Utilities	-	-

Return for Risk

IBRN vs. IHI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IBRN

IBRN Risk / Return Rank: 91
IBRN Sharpe Ratio Rank: 91
IBRN Sortino Ratio Rank: 89
IBRN Omega Ratio Rank: 84
IBRN Calmar Ratio Rank: 96
IBRN Martin Ratio Rank: 93

IHI

IHI Risk / Return Rank: 5
IHI Sharpe Ratio Rank: 4
IHI Sortino Ratio Rank: 4
IHI Omega Ratio Rank: 4
IHI Calmar Ratio Rank: 6
IHI Martin Ratio Rank: 5

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.

IBRN vs. IHI - 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. Medical Devices ETF (IHI). 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.

	IBRN	IHI	Difference
Sharpe ratio: Return per unit of total volatility	2.29	-0.59	+2.89
Sortino ratio: Return per unit of downside risk	3.10	-0.74	+3.84
Omega ratio: Gain probability vs. loss probability	1.36	0.92	+0.45
Calmar ratio: Return relative to maximum drawdown	6.42	-0.45	+6.87
Martin ratio: Return relative to average drawdown	16.74	-0.88	+17.62

IBRN vs. IHI - Sharpe Ratio Comparison

The current IBRN Sharpe Ratio is 2.29, which is higher than the IHI Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of IBRN and IHI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBRN vs. IHI - Drawdown Comparison

The maximum IBRN drawdown since its inception was -35.38%, smaller than the maximum IHI drawdown of -49.65%. Use the drawdown chart below to compare losses from any high point for IBRN and IHI.

Drawdown Indicators

	IBRN	IHI	Difference
Max Drawdown Largest peak-to-trough decline	-35.38%	-49.65%	+14.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-26.11%	+16.96%
Max Drawdown (3Y) Largest decline over 3 years	-35.38%	-26.64%	-8.74%
Max Drawdown (5Y) Largest decline over 5 years	—	-33.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.25%	—
Current Drawdown Current decline from peak	-9.15%	-20.04%	+10.89%
Average Drawdown Average peak-to-trough decline	-9.59%	-8.43%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	13.27%	-9.77%

Volatility

IBRN vs. IHI - Volatility Comparison

The current volatility for iShares Neuroscience and Healthcare ETF (IBRN) is 7.68%, while iShares U.S. Medical Devices ETF (IHI) has a volatility of 9.58%. This indicates that IBRN experiences smaller price fluctuations and is considered to be less risky than IHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBRN	IHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.68%	9.58%	-1.90%
Volatility (6M) Calculated over the trailing 6-month period	19.64%	16.58%	+3.06%
Volatility (1Y) Calculated over the trailing 1-year period	25.61%	19.90%	+5.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	19.55%	+5.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.34%	20.01%	+5.33%

IBRN vs. IHI - Expense Ratio Comparison

IBRN has a 0.47% expense ratio, which is higher than IHI's 0.38% expense ratio.

Dividends

IBRN vs. IHI - Dividend Comparison

IBRN's dividend yield for the trailing twelve months is around 0.87%, more than IHI's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBRN iShares Neuroscience and Healthcare ETF	0.87%	0.99%	0.40%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IHI iShares U.S. Medical Devices ETF	0.46%	0.34%	0.46%	0.53%	0.45%	0.25%	0.25%	0.33%	0.26%	0.37%	0.55%	1.28%

Frequently Asked Questions

Can I hold both IBRN and IHI in my portfolio?

IBRN and IHI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBRN or IHI?

IHI has higher volatility (9.58%) compared to IBRN (7.68%). In terms of maximum drawdown, IBRN dropped -35.38% vs IHI's -49.65%.

Which ETF is better, IBRN or IHI?

On 3-year performance, IBRN leads with 14.57% vs -1.46% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, IBRN has been the lower-risk option at 7.68%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBRN or IHI?

Over the 3-year period, IBRN has performed better with a 14.57% return vs -1.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBRN or IHI?

IHI is cheaper with a 0.38% expense ratio, compared with 0.47% for IBRN.

Which ETF pays a higher dividend yield, IBRN or IHI?

IBRN has the higher dividend yield at 0.87%, compared with 0.46% for IHI.

What is the main difference between IBRN and IHI?

IBRN tracks NYSE FactSet Global Neuro Biopharma and MedTech Index, while IHI tracks Dow Jones U.S. Select Medical Equipment Index. Their fees differ too: 0.47% for IBRN and 0.38% for IHI.

Which has better risk-adjusted returns?

IBRN currently has the higher Sharpe Ratio (2.29 vs -0.59), 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.