IHE vs. MHIP
IHE (iShares U.S. Pharmaceuticals ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. IHE is passively managed, while MHIP is actively managed. Their 0.58 correlation means they have sometimes moved together and sometimes differently. IHE charges 0.38%/yr vs 0.55%/yr for MHIP.
Performance
IHE vs. MHIP - Performance Comparison
Loading charts...
Returns By Period
IHE
- 1D
- -0.98%
- 1M
- -0.34%
- 6M
- 15.00%
- YTD
- 19.36%
- 1Y
- 53.32%
- 3Y*
- 20.74%
- 5Y*
- 11.16%
- 10Y*
- 8.45%
- ALL TIME*
- 10.88%
MHIP
- 1D
- 0.39%
- 1M
- -0.68%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $35.28M | $36.00M | $20.48M | |
| $1.34K | $877.52 | $4.14K |
IHE vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 14.45% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.60% |
Correlation
The correlation between IHE and MHIP is 0.58, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.58 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IHE vs. MHIP — Risk / Return Rank
IHE
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IHE vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Milliman Healthcare Inflation Plus ETF (MHIP). 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 | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.50 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 6.33 | — | — |
| Martin ratioReturn relative to average drawdown | 19.45 | — | — |
Loading charts...
Drawdowns
IHE vs. MHIP - Drawdown Comparison
The maximum IHE drawdown since its inception was -38.20%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for IHE and MHIP.
Loading charts...
Drawdown Indicators
| IHE | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.20% | -3.09% | -35.11% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | — | — |
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 DrawdownCurrent decline from peak | -3.21% | -1.02% | -2.19% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -1.30% | -6.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | — | — |
Volatility
IHE vs. MHIP - Volatility Comparison
Loading charts...
Volatility by Period
| IHE | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.84% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 10.92% | +6.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.52% | 10.92% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 10.92% | +7.16% |
IHE vs. MHIP - Expense Ratio Comparison
IHE has a 0.38% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
IHE vs. MHIP - Dividend Comparison
IHE's dividend yield for the trailing twelve months is around 1.46%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 1.46% | 1.76% | 1.73% | 1.39% | 2.01% | 1.49% | 1.19% | 1.40% | 1.25% | 1.36% | 0.92% | 1.93% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHE and MHIP have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IHE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHE is cheaper with a 0.38% expense ratio, compared with 0.55% for MHIP.
IHE has the higher dividend yield at 1.46%, compared with 0.00% for MHIP.
They also come from different issuers: iShares and Milliman. Their fees differ too: 0.38% for IHE and 0.55% for MHIP.
Find the right allocation for IHE and MHIP
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer