IHE vs. PJP
Compare and contrast key facts about iShares U.S. Pharmaceuticals ETF (IHE) and Invesco Dynamic Pharmaceuticals ETF (PJP).
IHE and PJP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IHE is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Pharmaceuticals Index. It was launched on May 5, 2006. PJP is a passively managed fund by Invesco that tracks the performance of the Dynamic Pharmaceuticals Intellidex Index. It was launched on Jun 23, 2005. Both IHE and PJP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IHE or PJP.
Key characteristics
| IHE | PJP | |
|---|---|---|
| YTD Return | 7.95% | 6.93% |
| 1Y Return | 17.20% | 9.01% |
| 3Y Return (Ann) | 7.72% | 1.52% |
| 5Y Return (Ann) | 11.30% | 6.85% |
| 10Y Return (Ann) | 9.24% | 5.23% |
| Sharpe Ratio | 1.18 | 0.59 |
| Daily Std Dev | 13.55% | 13.06% |
| Max Drawdown | -35.30% | -37.06% |
| Current Drawdown | -4.08% | -0.86% |
Correlation
The correlation between IHE and PJP is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
IHE vs. PJP - Performance Comparison
In the year-to-date period, IHE achieves a 7.95% return, which is significantly higher than PJP's 6.93% return. Over the past 10 years, IHE has outperformed PJP with an annualized return of 9.24%, while PJP has yielded a comparatively lower 5.23% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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IHE vs. PJP - Expense Ratio Comparison
IHE has a 0.42% expense ratio, which is lower than PJP's 0.58% expense ratio.
Risk-Adjusted Performance
IHE vs. PJP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Pharmaceuticals ETF (IHE) and Invesco Dynamic Pharmaceuticals ETF (PJP). 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.
Dividends
IHE vs. PJP - Dividend Comparison
IHE's dividend yield for the trailing twelve months is around 3.27%, more than PJP's 0.91% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHE iShares U.S. Pharmaceuticals ETF | 3.27% | 4.16% | 6.02% | 4.48% | 3.57% | 4.19% | 3.76% | 4.08% | 2.75% | 5.78% | 3.60% | 3.19% |
PJP Invesco Dynamic Pharmaceuticals ETF | 0.91% | 1.01% | 0.95% | 0.81% | 0.75% | 0.77% | 1.12% | 0.65% | 0.91% | 5.49% | 2.96% | 0.44% |
Drawdowns
IHE vs. PJP - Drawdown Comparison
The maximum IHE drawdown since its inception was -35.30%, roughly equal to the maximum PJP drawdown of -37.06%. Use the drawdown chart below to compare losses from any high point for IHE and PJP. For additional features, visit the drawdowns tool.
Volatility
IHE vs. PJP - Volatility Comparison
iShares U.S. Pharmaceuticals ETF (IHE) and Invesco Dynamic Pharmaceuticals ETF (PJP) have volatilities of 3.29% and 3.23%, 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.