IHE vs. JAGLX

Last updated Jun 5, 2026

IHE (iShares U.S. Pharmaceuticals ETF) and JAGLX (Janus Henderson Global Life Sciences Fund Class T) are both Health & Biotech Equities funds. IHE is passively managed, while JAGLX is actively managed. Over the past 10 years, IHE returned 7.97%/yr vs 10.94%/yr for JAGLX. Their correlation of 0.86 suggests significant overlap in exposure. IHE charges 0.42%/yr vs 0.92%/yr for JAGLX.

Performance

IHE vs. JAGLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Pharmaceuticals ETF (IHE) and Janus Henderson Global Life Sciences Fund Class T (JAGLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IHE achieves a 9.33% return, which is significantly higher than JAGLX's -2.55% return. Over the past 10 years, IHE has underperformed JAGLX with an annualized return of 7.97%, while JAGLX has yielded a comparatively higher 10.94% annualized return.

IHE

• 1D: 2.69%
• 1M: 3.48%
• YTD: 9.33%
• 6M: 12.42%
• 1Y: 43.59%
• 3Y*: 18.33%
• 5Y*: 10.57%
• 10Y*: 7.97%

JAGLX

• 1D: 1.14%
• 1M: -0.31%
• YTD: -2.55%
• 6M: -0.80%
• 1Y: 26.04%
• 3Y*: 11.36%
• 5Y*: 8.05%
• 10Y*: 10.94%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IHE vs. JAGLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IHE iShares U.S. Pharmaceuticals ETF	9.33%	31.69%	8.13%	1.06%	-4.87%	13.07%	13.66%	15.47%	-7.76%	10.64%
JAGLX Janus Henderson Global Life Sciences Fund Class T	-2.55%	24.72%	8.50%	7.41%	-2.79%	6.66%	25.52%	29.12%	4.05%	22.13%

Correlation

The correlation between IHE and JAGLX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 8, 2006	0.86

The correlation between IHE and JAGLX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

IHE vs. JAGLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IHE

IHE Risk / Return Rank: 81
IHE Sharpe Ratio Rank: 79
IHE Sortino Ratio Rank: 83
IHE Omega Ratio Rank: 73
IHE Calmar Ratio Rank: 88
IHE Martin Ratio Rank: 80

JAGLX

JAGLX Risk / Return Rank: 42
JAGLX Sharpe Ratio Rank: 40
JAGLX Sortino Ratio Rank: 40
JAGLX Omega Ratio Rank: 37
JAGLX Calmar Ratio Rank: 53
JAGLX Martin Ratio Rank: 41

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. JAGLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Janus Henderson Global Life Sciences Fund Class T (JAGLX). 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.

	IHE	JAGLX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.78	+0.75
Sortino ratio: Return per unit of downside risk	3.67	2.60	+1.07
Omega ratio: Gain probability vs. loss probability	1.43	1.31	+0.12
Calmar ratio: Return relative to maximum drawdown	5.17	2.73	+2.44
Martin ratio: Return relative to average drawdown	15.58	8.66	+6.92
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. JAGLX - Sharpe Ratio Comparison

The current IHE Sharpe Ratio is 2.54, which is higher than the JAGLX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of IHE and JAGLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IHE	JAGLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	1.78	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.51	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.63	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.58	-0.07

Drawdowns

IHE vs. JAGLX - Drawdown Comparison

The maximum IHE drawdown since its inception was -38.20%, smaller than the maximum JAGLX drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for IHE and JAGLX.

Drawdown Indicators

	IHE	JAGLX	Difference
Max Drawdown Largest peak-to-trough decline	-38.20%	-58.96%	+20.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-9.71%	+1.24%
Max Drawdown (3Y) Largest decline over 3 years	-15.92%	-17.41%	+1.49%
Max Drawdown (5Y) Largest decline over 5 years	-16.03%	-22.25%	+6.22%
Max Drawdown (10Y) Largest decline over 10 years	-29.59%	-27.38%	-2.21%
Current Drawdown Current decline from peak	-0.18%	-5.47%	+5.29%
Average Drawdown Average peak-to-trough decline	-7.92%	-17.43%	+9.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.81%	3.05%	-0.24%

Volatility

IHE vs. JAGLX - Volatility Comparison

iShares U.S. Pharmaceuticals ETF (IHE) has a higher volatility of 6.04% compared to Janus Henderson Global Life Sciences Fund Class T (JAGLX) at 4.81%. This indicates that IHE's price experiences larger fluctuations and is considered to be riskier than JAGLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHE	JAGLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	4.81%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	12.70%	10.89%	+1.81%
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	14.86%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	15.92%	+0.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	17.41%	+0.66%

IHE vs. JAGLX - Expense Ratio Comparison

IHE has a 0.42% expense ratio, which is lower than JAGLX's 0.92% expense ratio.

Dividends

IHE vs. JAGLX - Dividend Comparison

IHE's dividend yield for the trailing twelve months is around 1.61%, less than JAGLX's 4.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHE iShares U.S. Pharmaceuticals ETF	1.61%	1.76%	1.73%	1.39%	2.01%	1.49%	1.19%	1.40%	1.25%	1.36%	0.92%	1.93%
JAGLX Janus Henderson Global Life Sciences Fund Class T	4.65%	4.53%	10.98%	4.22%	0.14%	9.78%	7.75%	6.17%	13.38%	0.89%	1.13%	9.09%

Frequently Asked Questions

Can I hold both IHE and JAGLX in my portfolio?

IHE and JAGLX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHE or JAGLX?

IHE has higher volatility (6.04%) compared to JAGLX (4.81%). In terms of maximum drawdown, IHE dropped -38.20% vs JAGLX's -58.96%.

Which has better risk-adjusted returns?

IHE currently has the higher Sharpe Ratio (2.54 vs 1.78), 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.