IHE vs. FPHAX
IHE (iShares U.S. Pharmaceuticals ETF) and FPHAX (Fidelity Select Pharmaceuticals Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, IHE returned 8.99%/yr vs 12.35%/yr for FPHAX. Their correlation of 0.89 suggests significant overlap in exposure. IHE charges 0.42%/yr vs 0.75%/yr for FPHAX.
Performance
IHE vs. FPHAX - Performance Comparison
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Returns By Period
In the year-to-date period, IHE achieves a 11.65% return, which is significantly higher than FPHAX's 9.07% return. Over the past 10 years, IHE has underperformed FPHAX with an annualized return of 8.99%, while FPHAX has yielded a comparatively higher 12.35% annualized return.
IHE
- 1D
- 1.60%
- 1M
- 3.16%
- YTD
- 11.65%
- 6M
- 10.97%
- 1Y
- 46.87%
- 3Y*
- 18.43%
- 5Y*
- 10.55%
- 10Y*
- 8.99%
FPHAX
- 1D
- 0.70%
- 1M
- 1.26%
- YTD
- 9.07%
- 6M
- 8.20%
- 1Y
- 42.59%
- 3Y*
- 17.70%
- 5Y*
- 12.74%
- 10Y*
- 12.35%
IHE vs. FPHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 11.65% | 31.69% | 8.13% | 1.06% | -4.87% | 13.07% | 13.66% | 15.47% | -7.76% | 10.64% |
FPHAX Fidelity Select Pharmaceuticals Portfolio | 9.07% | 30.41% | 9.39% | 12.54% | 0.94% | 11.79% | 11.16% | 31.73% | 5.41% | 10.70% |
Correlation
The correlation between IHE and FPHAX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.89 |
The correlation between IHE and FPHAX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.
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Return for Risk
IHE vs. FPHAX — Risk / Return Rank
IHE
FPHAX
IHE vs. FPHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Fidelity Select Pharmaceuticals Portfolio (FPHAX). 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.
| IHE | FPHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.36 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.56 | 4.11 | +1.45 |
| Martin ratioReturn relative to average drawdown | 17.09 | 11.24 | +5.85 |
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Drawdowns
IHE vs. FPHAX - Drawdown Comparison
The maximum IHE drawdown since its inception was -38.20%, roughly equal to the maximum FPHAX drawdown of -38.26%. Use the drawdown chart below to compare losses from any high point for IHE and FPHAX.
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Drawdown Indicators
| IHE | FPHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.20% | -38.26% | +0.06% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -10.33% | +1.86% |
Max Drawdown (3Y)Largest decline over 3 years | -15.92% | -28.82% | +12.90% |
Max Drawdown (5Y)Largest decline over 5 years | -16.03% | -28.82% | +12.79% |
Max Drawdown (10Y)Largest decline over 10 years | -29.59% | -28.82% | -0.77% |
Current DrawdownCurrent decline from peak | -0.70% | -3.12% | +2.42% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -9.16% | +1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 3.77% | -1.02% |
Volatility
IHE vs. FPHAX - Volatility Comparison
The current volatility for iShares U.S. Pharmaceuticals ETF (IHE) is 5.27%, while Fidelity Select Pharmaceuticals Portfolio (FPHAX) has a volatility of 5.87%. This indicates that IHE experiences smaller price fluctuations and is considered to be less risky than FPHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHE | FPHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 5.87% | -0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 12.68% | 14.40% | -1.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.22% | 20.15% | -2.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 18.10% | -1.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 17.90% | +0.15% |
IHE vs. FPHAX - Expense Ratio Comparison
IHE has a 0.42% expense ratio, which is lower than FPHAX's 0.75% expense ratio.
Dividends
IHE vs. FPHAX - Dividend Comparison
IHE's dividend yield for the trailing twelve months is around 1.56%, less than FPHAX's 5.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FPHAX Fidelity Select Pharmaceuticals Portfolio | 5.10% | 5.68% | 1.90% | 8.08% | 5.18% | 11.09% | 8.85% | 8.33% | 1.65% | 1.62% | 1.07% | 12.63% |
IHE iShares U.S. Pharmaceuticals ETF | 1.56% | 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 FPHAX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPHAX has higher volatility (5.87%) compared to IHE (5.27%). In terms of maximum drawdown, IHE dropped -38.20% vs FPHAX's -38.26%.
IHE currently has the higher Sharpe Ratio (2.74 vs 2.11), 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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