IBRN vs. MHIP
IBRN (iShares Neuroscience and Healthcare ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. IBRN is passively managed, while MHIP is actively managed. A 0.54 correlation means they provide meaningful diversification when combined. IBRN charges 0.47%/yr vs 0.55%/yr for MHIP.
Performance
IBRN vs. MHIP - Performance Comparison
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Returns By Period
IBRN
- 1D
- -2.16%
- 1M
- 9.69%
- 6M
- 19.74%
- YTD
- 18.23%
- 1Y
- 69.86%
- 3Y*
- 16.48%
- 5Y*
- —
- 10Y*
- —
MHIP
- 1D
- -0.57%
- 1M
- 1.53%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBRN vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IBRN iShares Neuroscience and Healthcare ETF | 8.04% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.13% |
Correlation
The correlation between IBRN and MHIP is 0.54, 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 | 0.54 |
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Return for Risk
IBRN vs. MHIP — Risk / Return Rank
IBRN
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IBRN vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Neuroscience and Healthcare ETF (IBRN) 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.
| IBRN | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.43 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 7.98 | — | — |
| Martin ratioReturn relative to average drawdown | 22.47 | — | — |
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Drawdowns
IBRN vs. MHIP - Drawdown Comparison
The maximum IBRN drawdown since its inception was -35.38%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for IBRN and MHIP.
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Drawdown Indicators
| IBRN | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.38% | -3.09% | -32.29% |
Max Drawdown (1Y)Largest decline over 1 year | -8.80% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -35.38% | — | — |
Current DrawdownCurrent decline from peak | -5.16% | -1.48% | -3.68% |
Average DrawdownAverage peak-to-trough decline | -9.63% | -1.25% | -8.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | — | — |
Volatility
IBRN vs. MHIP - Volatility Comparison
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Volatility by Period
| IBRN | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.66% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 19.29% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 25.51% | 11.73% | +13.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.34% | 11.73% | +13.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.34% | 11.73% | +13.61% |
IBRN vs. MHIP - Expense Ratio Comparison
IBRN has a 0.47% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
IBRN vs. MHIP - Dividend Comparison
IBRN's dividend yield for the trailing twelve months is around 0.84%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBRN iShares Neuroscience and Healthcare ETF | 0.84% | 0.99% | 0.40% | 0.06% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBRN and MHIP have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IBRN is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IBRN is cheaper with a 0.47% expense ratio, compared with 0.55% for MHIP.
IBRN has the higher dividend yield at 0.84%, compared with 0.00% for MHIP.
They also come from different issuers: iShares and Milliman. Their fees differ too: 0.47% for IBRN and 0.55% for MHIP.
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