IHE vs. FXAIX
IHE (iShares U.S. Pharmaceuticals ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - IHE is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Pharmaceuticals Index, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IHE returned 8.99%/yr vs 15.80%/yr for FXAIX. A 0.64 correlation means they provide meaningful diversification when combined. IHE charges 0.42%/yr vs 0.02%/yr for FXAIX.
Performance
IHE vs. FXAIX - 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 FXAIX's 9.79% return. Over the past 10 years, IHE has underperformed FXAIX with an annualized return of 8.99%, while FXAIX has yielded a comparatively higher 15.80% 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%
FXAIX
- 1D
- -0.37%
- 1M
- 0.10%
- YTD
- 9.79%
- 6M
- 8.79%
- 1Y
- 25.51%
- 3Y*
- 21.39%
- 5Y*
- 13.60%
- 10Y*
- 15.80%
IHE vs. FXAIX - 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% |
FXAIX Fidelity 500 Index Fund | 9.79% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Correlation
The correlation between IHE and FXAIX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.64 |
Over the past year, the correlation between IHE and FXAIX has dropped to 0.30 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
IHE vs. FXAIX — Risk / Return Rank
IHE
FXAIX
IHE vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Fidelity 500 Index Fund (FXAIX). 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 | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.39 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.56 | 3.02 | +2.54 |
| Martin ratioReturn relative to average drawdown | 17.09 | 13.62 | +3.47 |
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Drawdowns
IHE vs. FXAIX - Drawdown Comparison
The maximum IHE drawdown since its inception was -38.20%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for IHE and FXAIX.
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Drawdown Indicators
| IHE | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.20% | -33.79% | -4.41% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -8.89% | +0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -15.92% | -18.76% | +2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -16.03% | -24.50% | +8.47% |
Max Drawdown (10Y)Largest decline over 10 years | -29.59% | -33.79% | +4.20% |
Current DrawdownCurrent decline from peak | -0.70% | -1.72% | +1.02% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -3.79% | -4.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 1.97% | +0.78% |
Volatility
IHE vs. FXAIX - Volatility Comparison
iShares U.S. Pharmaceuticals ETF (IHE) has a higher volatility of 5.27% compared to Fidelity 500 Index Fund (FXAIX) at 4.68%. This indicates that IHE's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHE | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.27% | 4.68% | +0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 12.68% | 9.84% | +2.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.22% | 12.50% | +4.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.28% | 17.00% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 18.12% | -0.07% |
IHE vs. FXAIX - Expense Ratio Comparison
IHE has a 0.42% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Dividends
IHE vs. FXAIX - Dividend Comparison
IHE's dividend yield for the trailing twelve months is around 1.56%, more than FXAIX's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXAIX Fidelity 500 Index Fund | 1.04% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
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 FXAIX 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.
IHE has higher volatility (5.27%) compared to FXAIX (4.68%). In terms of maximum drawdown, IHE dropped -38.20% vs FXAIX's -33.79%.
IHE currently has the higher Sharpe Ratio (2.74 vs 2.15), 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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