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IHF vs. IHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHF vs. IHE

Last updated Jun 24, 2026

IHF (iShares U.S. Healthcare Providers ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds from iShares - IHF tracks the Dow Jones U.S. Select Health Care Providers Index while IHE tracks the Dow Jones U.S. Select Pharmaceuticals Index. Both are passively managed. Over the past 10 years, IHF returned 8.88%/yr vs 8.99%/yr for IHE. A 0.63 correlation means they provide meaningful diversification when combined. IHF charges 0.43%/yr vs 0.42%/yr for IHE.

Performance

IHF vs. IHE - Performance Comparison

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

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Returns By Period

The year-to-date returns for both investments are quite close, with IHF having a 11.55% return and IHE slightly higher at 11.65%. Both investments have delivered pretty close results over the past 10 years, with IHF having a 8.88% annualized return and IHE not far ahead at 8.99%.

IHF

1D
0.74%
1M
5.23%
YTD
11.55%
6M
12.02%
1Y
14.30%
3Y*
2.85%
5Y*
0.85%
10Y*
8.88%

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

IHF vs. IHE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IHF
iShares U.S. Healthcare Providers ETF		11.55%0.92%-7.90%-1.11%-7.11%24.46%17.67%22.34%9.56%25.45%
IHE
iShares U.S. Pharmaceuticals ETF		11.65%31.69%8.13%1.06%-4.87%13.07%13.66%15.47%-7.76%10.64%

Correlation

The correlation between IHF and IHE is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.31

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

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (10Y)
Calculated over the trailing 10-year period

0.57

Correlation (All Time)
Calculated using the full available price history since May 5, 2006

0.63

Over the past year, the correlation between IHF and IHE has dropped to 0.31 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

IHF vs. IHE - Sectors Allocation Comparison

Sectors
IHF
IHE

Healthcare

98.9%
100.0%

Financial Services

0.6%

-

Technology

0.3%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Utilities

-

-

Healthcare

IHF
98.9%
IHE
100.0%

Financial Services

IHF
0.6%
IHE

-

Technology

IHF
0.3%
IHE

-

Basic Materials

IHF

-

IHE

-

Communication Services

IHF

-

IHE

-

Consumer Cyclical

IHF

-

IHE

-

Consumer Defensive

IHF

-

IHE

-

Energy

IHF

-

IHE

-

Industrials

IHF

-

IHE

-

Real Estate

IHF

-

IHE

-

Utilities

IHF

-

IHE

-

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. Healthcare Providers ETF

iShares U.S. Pharmaceuticals ETF

Often compared with IHF:
IHF vs. XLVIHF vs. IHIIHF vs. VHTIHF vs. XHSIHF vs. FXHIHF vs. IDUIHF vs. MDEV
Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP

Return for Risk

IHF vs. IHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHF
IHF Risk / Return Rank: 1919
Overall Rank
IHF Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
IHF Sortino Ratio Rank: 1818
Sortino Ratio Rank
IHF Omega Ratio Rank: 2121
Omega Ratio Rank
IHF Calmar Ratio Rank: 1818
Calmar Ratio Rank
IHF Martin Ratio Rank: 1717
Martin Ratio Rank
IHE
IHE Risk / Return Rank: 8787
Overall Rank
IHE Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
IHE Sortino Ratio Rank: 9090
Sortino Ratio Rank
IHE Omega Ratio Rank: 8282
Omega Ratio Rank
IHE Calmar Ratio Rank: 9191
Calmar Ratio Rank
IHE Martin Ratio Rank: 8585
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.

IHF vs. IHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Healthcare Providers ETF (IHF) and iShares U.S. Pharmaceuticals ETF (IHE). 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.

IHFIHEDifference
Sharpe ratioReturn per unit of total volatility
0.66
2.74

-2.08

Sortino ratioReturn per unit of downside risk
0.95
3.95

-2.99

Omega ratioGain probability vs. loss probability

1.14

1.46

-0.32

Calmar ratioReturn relative to maximum drawdown

0.73

5.56

-4.83

Martin ratioReturn relative to average drawdown

1.68

17.09

-15.41

IHF vs. IHE - Sharpe Ratio Comparison

The current IHF Sharpe Ratio is 0.66, which is lower than the IHE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of IHF and IHE, 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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Drawdowns

IHF vs. IHE - Drawdown Comparison

The maximum IHF drawdown since its inception was -58.42%, which is greater than IHE's maximum drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for IHF and IHE.

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Drawdown Indicators

IHFIHEDifference

Max Drawdown

Largest peak-to-trough decline

-58.42%

-38.20%

-20.22%

Max Drawdown (1Y)

Largest decline over 1 year

-19.72%

-8.47%

-11.25%

Max Drawdown (3Y)

Largest decline over 3 years

-29.85%

-15.92%

-13.93%

Max Drawdown (5Y)

Largest decline over 5 years

-29.85%

-16.03%

-13.82%

Max Drawdown (10Y)

Largest decline over 10 years

-35.23%

-29.59%

-5.64%

Current Drawdown

Current decline from peak

-7.44%

-0.70%

-6.74%

Average Drawdown

Average peak-to-trough decline

-10.64%

-7.90%

-2.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.51%

2.75%

+5.76%

Volatility

IHF vs. IHE - Volatility Comparison

iShares U.S. Healthcare Providers ETF (IHF) and iShares U.S. Pharmaceuticals ETF (IHE) have volatilities of 5.27% and 5.27%, 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.

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Volatility by Period

IHFIHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.27%

5.27%

0.00%

Volatility (6M)

Calculated over the trailing 6-month period

16.10%

12.68%

+3.42%

Volatility (1Y)

Calculated over the trailing 1-year period

21.90%

17.22%

+4.68%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.17%

16.28%

+2.89%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.02%

18.05%

+2.97%

IHF vs. IHE - Expense Ratio Comparison

IHF has a 0.43% expense ratio, which is higher than IHE's 0.42% expense ratio.

Dividends

IHF vs. IHE - Dividend Comparison

IHF's dividend yield for the trailing twelve months is around 0.98%, less than IHE's 1.56% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IHF
iShares U.S. Healthcare Providers ETF		0.98%1.05%0.86%0.79%0.74%0.56%0.53%0.58%4.01%0.19%0.25%0.20%

Frequently Asked Questions

IHF and IHE have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IHE has higher volatility (5.27%) compared to IHF (5.27%). In terms of maximum drawdown, IHF dropped -58.42% vs IHE's -38.20%.

On 10-year performance, IHE leads with 8.99% vs 8.88% for IHF. 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.

Over the 10-year period, IHE has performed better with a 8.99% return vs 8.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IHE is cheaper with a 0.42% expense ratio, compared with 0.43% for IHF.

IHE has the higher dividend yield at 1.56%, compared with 0.98% for IHF.

IHF tracks Dow Jones U.S. Select Health Care Providers Index, while IHE tracks Dow Jones U.S. Select Pharmaceuticals Index. Their fees differ too: 0.43% for IHF and 0.42% for IHE.

IHE currently has the higher Sharpe Ratio (2.74 vs 0.66), 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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