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IHE vs. CANC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHE vs. CANC

Last updated Jun 4, 2026

IHE (iShares U.S. Pharmaceuticals ETF) and CANC (Tema Oncology ETF) are both Health & Biotech Equities funds. IHE is passively managed, while CANC is actively managed. Over the past 3 years, IHE returned 17.47%/yr vs 107.76%/yr for CANC. At a 0.41 correlation, their price movements are largely independent. IHE charges 0.42%/yr vs 0.75%/yr for CANC.

Performance

IHE vs. CANC - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, IHE achieves a 6.47% return, which is significantly higher than CANC's 4.82% return.

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%

CANC

1D
0.08%
1M
-3.73%
YTD
4.82%
6M
3.86%
1Y
47.37%
3Y*
107.76%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IHE vs. CANC - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IHE
iShares U.S. Pharmaceuticals ETF		6.47%31.69%8.13%1.06%-4.87%9.46%
CANC
Tema Oncology ETF		4.82%42.92%-5.37%510.51%-85.34%-51.82%

Correlation

The correlation between IHE and CANC is 0.75, 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

0.75

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

0.63

Correlation (All Time)
Calculated using the full available price history since Oct 1, 2021

0.41

Over the past year, IHE and CANC have become more correlated (0.75) than their long-term average of 0.41, meaning their price movements have been converging.

IHE vs. CANC - Sectors Allocation Comparison

Sectors
IHE
CANC

Healthcare

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IHE
100.0%
CANC
100.0%

Basic Materials

IHE

-

CANC

-

Communication Services

IHE

-

CANC

-

Consumer Cyclical

IHE

-

CANC

-

Consumer Defensive

IHE

-

CANC

-

Energy

IHE

-

CANC

-

Financial Services

IHE

-

CANC

-

Industrials

IHE

-

CANC

-

Real Estate

IHE

-

CANC

-

Technology

IHE

-

CANC

-

Utilities

IHE

-

CANC

-

Compare stocks, funds, or ETFs

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

iShares U.S. Pharmaceuticals ETF

Tema Oncology ETF

Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP
Often compared with CANC:
CANC vs. IYHCANC vs. VOOCANC vs. JNJCANC vs. LLYCANC vs. VHTCANC vs. BBOTCANC vs. CGON

Return for Risk

IHE vs. CANC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
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
CANC
CANC Risk / Return Rank: 6969
Overall Rank
CANC Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
CANC Sortino Ratio Rank: 6464
Sortino Ratio Rank
CANC Omega Ratio Rank: 5454
Omega Ratio Rank
CANC Calmar Ratio Rank: 9090
Calmar Ratio Rank
CANC Martin Ratio Rank: 7777
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.

IHE vs. CANC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Tema Oncology ETF (CANC). 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.

IHECANCDifference
Sharpe ratioReturn per unit of total volatility
2.36
2.06

+0.30

Sortino ratioReturn per unit of downside risk
3.43
2.96

+0.47

Omega ratioGain probability vs. loss probability

1.40

1.34

+0.07

Calmar ratioReturn relative to maximum drawdown

4.76

5.49

-0.73

Martin ratioReturn relative to average drawdown

14.35

14.62

-0.27

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

IHE vs. CANC - Sharpe Ratio Comparison

The current IHE Sharpe Ratio is 2.36, which is comparable to the CANC Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of IHE and CANC, 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

IHECANCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

2.06

+0.30

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

0.51

-0.04

+0.54

Drawdowns

IHE vs. CANC - Drawdown Comparison

The maximum IHE drawdown since its inception was -38.20%, smaller than the maximum CANC drawdown of -97.53%. Use the drawdown chart below to compare losses from any high point for IHE and CANC.

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Drawdown Indicators

IHECANCDifference

Max Drawdown

Largest peak-to-trough decline

-38.20%

-97.53%

+59.33%

Max Drawdown (1Y)

Largest decline over 1 year

-8.47%

-8.67%

+0.20%

Max Drawdown (3Y)

Largest decline over 3 years

-15.92%

-30.27%

+14.35%

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

-2.80%

-56.55%

+53.75%

Average Drawdown

Average peak-to-trough decline

-7.92%

-73.19%

+65.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.81%

3.25%

-0.44%

Volatility

IHE vs. CANC - Volatility Comparison

The current volatility for iShares U.S. Pharmaceuticals ETF (IHE) is 5.53%, while Tema Oncology ETF (CANC) has a volatility of 6.26%. This indicates that IHE experiences smaller price fluctuations and is considered to be less risky than CANC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IHECANCDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.53%

6.26%

-0.73%

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

16.69%

-4.21%

Volatility (1Y)

Calculated over the trailing 1-year period

17.07%

23.11%

-6.04%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.24%

280.27%

-264.03%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.05%

280.27%

-262.22%

IHE vs. CANC - Expense Ratio Comparison

IHE has a 0.42% expense ratio, which is lower than CANC's 0.75% expense ratio.

Dividends

IHE vs. CANC - Dividend Comparison

IHE's dividend yield for the trailing twelve months is around 1.65%, more than CANC's 0.05% yield.

PositionTTM20252024202320222021202020192018201720162015
CANC
Tema Oncology ETF		0.05%0.06%3.00%0.56%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

IHE and CANC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CANC has higher volatility (6.26%) compared to IHE (5.53%). In terms of maximum drawdown, IHE dropped -38.20% vs CANC's -97.53%.

On 3-year performance, CANC leads with 107.76% vs 17.47% for IHE. 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, CANC has performed better with a 107.76% return vs 17.47%. 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 0.75% for CANC.

IHE has the higher dividend yield at 1.65%, compared with 0.05% for CANC.

They also come from different issuers: iShares and Tema. Their fees differ too: 0.42% for IHE and 0.75% for CANC.

IHE currently has the higher Sharpe Ratio (2.36 vs 2.06), 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

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