IHE vs. JDOC

Last updated Jun 24, 2026

IHE (iShares U.S. Pharmaceuticals ETF) and JDOC (Jpmorgan Healthcare Leaders ETF) are both Health & Biotech Equities funds. IHE is passively managed, while JDOC is actively managed. Over the past year, IHE returned 46.87% vs 17.29% for JDOC. Their correlation of 0.81 suggests significant overlap in exposure. IHE charges 0.42%/yr vs 0.65%/yr for JDOC.

Performance

IHE vs. JDOC - Performance Comparison

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

Returns By Period

In the year-to-date period, IHE achieves a 11.65% return, which is significantly higher than JDOC's -0.08% 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%

JDOC

• 1D: 1.11%
• 1M: 2.00%
• YTD: -0.08%
• 6M: -0.49%
• 1Y: 17.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IHE vs. JDOC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IHE iShares U.S. Pharmaceuticals ETF	11.65%	31.69%	8.13%	11.03%
JDOC Jpmorgan Healthcare Leaders ETF	-0.08%	15.36%	-1.04%	7.92%

Correlation

The correlation between IHE and JDOC 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 (All Time) Calculated using the full available price history since Nov 2, 2023	0.81

The correlation between IHE and JDOC has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

IHE vs. JDOC - Sectors Allocation Comparison

Sectors	IHE	JDOC
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IHE vs. JDOC — Risk / Return Rank

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

IHE

IHE Risk / Return Rank: 87
IHE Sharpe Ratio Rank: 88
IHE Sortino Ratio Rank: 90
IHE Omega Ratio Rank: 82
IHE Calmar Ratio Rank: 91
IHE Martin Ratio Rank: 85

JDOC

JDOC Risk / Return Rank: 36
JDOC Sharpe Ratio Rank: 36
JDOC Sortino Ratio Rank: 39
JDOC Omega Ratio Rank: 34
JDOC Calmar Ratio Rank: 38
JDOC Martin Ratio Rank: 33

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. JDOC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Jpmorgan Healthcare Leaders ETF (JDOC). 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	JDOC	Difference
Sharpe ratio: Return per unit of total volatility	2.74	1.21	+1.52
Sortino ratio: Return per unit of downside risk	3.95	1.92	+2.03
Omega ratio: Gain probability vs. loss probability	1.46	1.22	+0.25
Calmar ratio: Return relative to maximum drawdown	5.56	1.79	+3.77
Martin ratio: Return relative to average drawdown	17.09	4.54	+12.55

IHE vs. JDOC - Sharpe Ratio Comparison

The current IHE Sharpe Ratio is 2.74, which is higher than the JDOC Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of IHE and JDOC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IHE vs. JDOC - Drawdown Comparison

The maximum IHE drawdown since its inception was -38.20%, which is greater than JDOC's maximum drawdown of -20.87%. Use the drawdown chart below to compare losses from any high point for IHE and JDOC.

Drawdown Indicators

	IHE	JDOC	Difference
Max Drawdown Largest peak-to-trough decline	-38.20%	-20.87%	-17.33%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-9.68%	+1.21%
Max Drawdown (3Y) Largest decline over 3 years	-15.92%	—	—
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	-0.70%	-3.20%	+2.50%
Average Drawdown Average peak-to-trough decline	-7.90%	-6.93%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.81%	-1.06%

Volatility

IHE vs. JDOC - Volatility Comparison

iShares U.S. Pharmaceuticals ETF (IHE) and Jpmorgan Healthcare Leaders ETF (JDOC) have volatilities of 5.27% and 5.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHE	JDOC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	5.26%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	12.68%	10.56%	+2.12%
Volatility (1Y) Calculated over the trailing 1-year period	17.22%	14.35%	+2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	14.52%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	14.52%	+3.53%

IHE vs. JDOC - Expense Ratio Comparison

IHE has a 0.42% expense ratio, which is lower than JDOC's 0.65% expense ratio.

Dividends

IHE vs. JDOC - Dividend Comparison

IHE's dividend yield for the trailing twelve months is around 1.56%, more than JDOC's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
JDOC Jpmorgan Healthcare Leaders ETF	0.89%	0.89%	5.57%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IHE and JDOC in my portfolio?

IHE and JDOC 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 JDOC?

IHE has higher volatility (5.27%) compared to JDOC (5.26%). In terms of maximum drawdown, IHE dropped -38.20% vs JDOC's -20.87%.

Which ETF is better, IHE or JDOC?

On 1-year performance, IHE leads with 46.87% vs 17.29% for JDOC. On fees, IHE is cheaper at 0.42% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHE or JDOC?

Over the 1-year period, IHE has performed better with a 46.87% return vs 17.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHE or JDOC?

IHE is cheaper with a 0.42% expense ratio, compared with 0.65% for JDOC.

Which ETF pays a higher dividend yield, IHE or JDOC?

IHE has the higher dividend yield at 1.56%, compared with 0.89% for JDOC.

What is the main difference between IHE and JDOC?

They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.42% for IHE and 0.65% for JDOC.

Which has better risk-adjusted returns?

IHE currently has the higher Sharpe Ratio (2.74 vs 1.21), 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.