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IHE vs. IBBQ
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHE vs. IBBQ

Last updated Jun 4, 2026

IHE (iShares U.S. Pharmaceuticals ETF) and IBBQ (Invesco Nasdaq Biotechnology ETF) are both Health & Biotech Equities funds - IHE tracks the Dow Jones U.S. Select Pharmaceuticals Index while IBBQ tracks the NASDAQ / Biotechnology. Both are passively managed. Over the past 3 years, IHE returned 17.47%/yr vs 12.60%/yr for IBBQ. A 0.70 correlation means they provide meaningful diversification when combined. IHE charges 0.42%/yr vs 0.00%/yr for IBBQ.

Performance

IHE vs. IBBQ - Performance Comparison

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

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Returns By Period

In the year-to-date period, IHE achieves a 6.47% return, which is significantly higher than IBBQ's 1.91% 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%

IBBQ

1D
1.77%
1M
-1.63%
YTD
1.91%
6M
0.94%
1Y
39.72%
3Y*
12.60%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IHE vs. IBBQ - Yearly Performance Comparison

2026 (YTD)20252024202320222021
IHE
iShares U.S. Pharmaceuticals ETF		6.47%31.69%8.13%1.06%-4.87%7.21%
IBBQ
Invesco Nasdaq Biotechnology ETF		1.91%33.32%-0.63%4.73%-10.41%-6.72%

Correlation

The correlation between IHE and IBBQ is 0.78, 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

0.78

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

0.71

Correlation (All Time)
Calculated using the full available price history since Jun 14, 2021

0.70

The correlation between IHE and IBBQ has been stable across timeframes, ranging from 0.70 to 0.78 - a consistent structural relationship.

IHE vs. IBBQ - Sectors Allocation Comparison

Sectors
IHE
IBBQ

Healthcare

100.0%
98.3%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

0.0%

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IHE
100.0%
IBBQ
98.3%

Basic Materials

IHE

-

IBBQ

-

Communication Services

IHE

-

IBBQ

-

Consumer Cyclical

IHE

-

IBBQ

-

Consumer Defensive

IHE

-

IBBQ

-

Energy

IHE

-

IBBQ

-

Financial Services

IHE

-

IBBQ
0.0%

Industrials

IHE

-

IBBQ

-

Real Estate

IHE

-

IBBQ

-

Technology

IHE

-

IBBQ

-

Utilities

IHE

-

IBBQ

-

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

Invesco Nasdaq Biotechnology ETF

Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP
Often compared with IBBQ:
IBBQ vs. IBBIBBQ vs. XBIIBBQ vs. BBHIBBQ vs. BTECIBBQ vs. GNOMIBBQ vs. BBCIBBQ vs. BBP

Return for Risk

IHE vs. IBBQ — 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
IBBQ
IBBQ Risk / Return Rank: 6767
Overall Rank
IBBQ Sharpe Ratio Rank: 5959
Sharpe Ratio Rank
IBBQ Sortino Ratio Rank: 6060
Sortino Ratio Rank
IBBQ Omega Ratio Rank: 5454
Omega Ratio Rank
IBBQ Calmar Ratio Rank: 8585
Calmar Ratio Rank
IBBQ Martin Ratio Rank: 7979
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. IBBQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Invesco Nasdaq Biotechnology ETF (IBBQ). 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.

IHEIBBQDifference
Sharpe ratioReturn per unit of total volatility
2.36
2.03

+0.33

Sortino ratioReturn per unit of downside risk
3.43
2.86

+0.57

Omega ratioGain probability vs. loss probability

1.40

1.34

+0.06

Calmar ratioReturn relative to maximum drawdown

4.76

4.79

-0.03

Martin ratioReturn relative to average drawdown

14.35

15.68

-1.33

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. IBBQ - Sharpe Ratio Comparison

The current IHE Sharpe Ratio is 2.36, which is comparable to the IBBQ Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of IHE and IBBQ, 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

IHEIBBQDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.36

2.03

+0.33

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

0.16

+0.35

Drawdowns

IHE vs. IBBQ - Drawdown Comparison

The maximum IHE drawdown since its inception was -38.20%, roughly equal to the maximum IBBQ drawdown of -37.94%. Use the drawdown chart below to compare losses from any high point for IHE and IBBQ.

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Drawdown Indicators

IHEIBBQDifference

Max Drawdown

Largest peak-to-trough decline

-38.20%

-37.94%

-0.26%

Max Drawdown (1Y)

Largest decline over 1 year

-8.47%

-8.34%

-0.13%

Max Drawdown (3Y)

Largest decline over 3 years

-15.92%

-23.66%

+7.74%

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%

-5.17%

+2.37%

Average Drawdown

Average peak-to-trough decline

-7.92%

-16.82%

+8.90%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.81%

2.54%

+0.27%

Volatility

IHE vs. IBBQ - Volatility Comparison

The current volatility for iShares U.S. Pharmaceuticals ETF (IHE) is 5.53%, while Invesco Nasdaq Biotechnology ETF (IBBQ) has a volatility of 6.84%. This indicates that IHE experiences smaller price fluctuations and is considered to be less risky than IBBQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IHEIBBQDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.53%

6.84%

-1.31%

Volatility (6M)

Calculated over the trailing 6-month period

12.48%

15.14%

-2.66%

Volatility (1Y)

Calculated over the trailing 1-year period

17.07%

19.63%

-2.56%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.24%

21.86%

-5.62%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.05%

21.86%

-3.81%

IHE vs. IBBQ - Expense Ratio Comparison

IHE has a 0.42% expense ratio, which is higher than IBBQ's 0.00% expense ratio.

Dividends

IHE vs. IBBQ - Dividend Comparison

IHE's dividend yield for the trailing twelve months is around 1.65%, more than IBBQ's 0.87% yield.

PositionTTM20252024202320222021202020192018201720162015
IBBQ
Invesco Nasdaq Biotechnology ETF		0.87%0.90%1.14%0.81%0.76%0.63%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 IBBQ have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBBQ has higher volatility (6.84%) compared to IHE (5.53%). In terms of maximum drawdown, IHE dropped -38.20% vs IBBQ's -37.94%.

On 3-year performance, IHE leads with 17.47% vs 12.60% for IBBQ. On fees, IBBQ is cheaper at 0.00% 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, IHE has performed better with a 17.47% return vs 12.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IBBQ is cheaper with a 0.00% expense ratio, compared with 0.42% for IHE.

IHE has the higher dividend yield at 1.65%, compared with 0.87% for IBBQ.

IHE tracks Dow Jones U.S. Select Pharmaceuticals Index, while IBBQ tracks NASDAQ / Biotechnology. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for IHE and 0.00% for IBBQ.

IHE currently has the higher Sharpe Ratio (2.36 vs 2.03), 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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