IHF vs. XHS

Last updated Aug 2, 2026

IHF (iShares U.S. Healthcare Providers ETF) and XHS (SPDR S&P Health Care Services ETF) are both Health & Biotech Equities funds - IHF tracks the Dow Jones U.S. Select Healthcare Providers Index while XHS tracks the S&P Health Care Services Select Industry Index. Both are passively managed. Over the past 10 years, IHF returned 9.49%/yr vs 9.25%/yr for XHS. Their correlation of 0.83 means they have usually moved in the same direction. IHF charges 0.38%/yr vs 0.35%/yr for XHS.

Performance

IHF vs. XHS - Performance Comparison

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

Returns By Period

In the year-to-date period, IHF achieves a 18.08% return, which is significantly lower than XHS's 24.28% return. Both investments have delivered pretty close results over the past 10 years, with IHF having a 9.49% annualized return and XHS not far behind at 9.25%.

IHF

• 1D: -0.65%
• 1M: -1.95%
• 6M: 24.31%
• YTD: 18.08%
• 1Y: 39.67%
• 3Y*: 3.50%
• 5Y*: 1.81%
• 10Y*: 9.49%
• ALL TIME*: 9.83%

XHS

• 1D: -1.16%
• 1M: -3.65%
• 6M: 24.28%
• YTD: 24.28%
• 1Y: 51.18%
• 3Y*: 12.70%
• 5Y*: 3.72%
• 10Y*: 9.25%
• ALL TIME*: 12.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IHF iShares U.S. Healthcare Providers ETF	$33.12M	$27.16M	$26.59M
XHS SPDR S&P Health Care Services ETF	$3.02M	$3.88M	$2.90M

IHF vs. XHS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IHF iShares U.S. Healthcare Providers ETF	18.08%	0.92%	-7.90%	-1.11%	-7.11%	24.46%	17.67%	22.34%	9.56%	25.45%
XHS SPDR S&P Health Care Services ETF	24.28%	18.83%	1.76%	5.15%	-19.87%	9.76%	33.66%	18.81%	1.96%	17.65%

Correlation

The correlation between IHF and XHS is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Sep 29, 2011	0.83

The correlation between IHF and XHS has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

IHF vs. XHS - Sectors Allocation Comparison

Sectors	IHF	XHS
Healthcare	95.2%	98.3%
Technology	4.4%	-
Financial Services	0.3%	1.7%
Industrials	0.1%	0.5%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

IHF vs. XHS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IHF

IHF Risk / Return Rank: 66
IHF Sharpe Ratio Rank: 79
IHF Sortino Ratio Rank: 73
IHF Omega Ratio Rank: 81
IHF Calmar Ratio Rank: 53
IHF Martin Ratio Rank: 46

XHS

XHS Risk / Return Rank: 93
XHS Sharpe Ratio Rank: 95
XHS Sortino Ratio Rank: 94
XHS Omega Ratio Rank: 93
XHS Calmar Ratio Rank: 91
XHS Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IHF vs. XHS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Healthcare Providers ETF (IHF) and SPDR S&P Health Care Services ETF (XHS). 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.

	IHF	XHS	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.75	-0.94
Sortino ratio: Return per unit of downside risk	2.34	3.72	-1.38
Omega ratio: Gain probability vs. loss probability	1.34	1.47	-0.13
Calmar ratio: Return relative to maximum drawdown	1.88	4.03	-2.15
Martin ratio: Return relative to average drawdown	5.15	14.13	-8.98

IHF vs. XHS - Sharpe Ratio Comparison

The current IHF Sharpe Ratio is 1.81, which is lower than the XHS Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of IHF and XHS, 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

IHF vs. XHS - Drawdown Comparison

The maximum IHF drawdown since its inception was -58.42%, which is greater than XHS's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for IHF and XHS.

Drawdown Indicators

	IHF	XHS	Difference
Max Drawdown Largest peak-to-trough decline	-58.42%	-39.32%	-19.10%
Max Drawdown (1Y) Largest decline over 1 year	-19.72%	-11.99%	-7.73%
Max Drawdown (3Y) Largest decline over 3 years	-29.85%	-16.23%	-13.62%
Max Drawdown (5Y) Largest decline over 5 years	-29.85%	-31.30%	+1.45%
Max Drawdown (10Y) Largest decline over 10 years	-35.23%	-39.32%	+4.09%
Current Drawdown Current decline from peak	-2.98%	-3.65%	+0.67%
Average Drawdown Average peak-to-trough decline	-10.59%	-10.10%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.18%	3.42%	+3.76%

Volatility

IHF vs. XHS - Volatility Comparison

iShares U.S. Healthcare Providers ETF (IHF) and SPDR S&P Health Care Services ETF (XHS) have volatilities of 4.88% and 4.70%, 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

	IHF	XHS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.88%	4.70%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	12.93%	12.28%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	20.62%	17.70%	+2.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	21.23%	-1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.04%	22.42%	-1.38%

IHF vs. XHS - Expense Ratio Comparison

IHF has a 0.38% expense ratio, which is higher than XHS's 0.35% expense ratio.

Dividends

IHF vs. XHS - Dividend Comparison

IHF's dividend yield for the trailing twelve months is around 0.93%, more than XHS's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHF iShares U.S. Healthcare Providers ETF	0.93%	1.05%	0.86%	0.79%	0.74%	0.56%	0.53%	0.58%	4.01%	0.19%	0.25%	0.20%
XHS SPDR S&P Health Care Services ETF	0.20%	0.27%	0.38%	0.23%	0.19%	0.20%	0.23%	2.37%	0.34%	0.22%	0.28%	0.93%

Frequently Asked Questions

Can I hold both IHF and XHS in my portfolio?

IHF and XHS have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHF or XHS?

IHF has higher volatility (4.88%) compared to XHS (4.70%). In terms of maximum drawdown, IHF dropped -58.42% vs XHS's -39.32%.

Which ETF is better, IHF or XHS?

On 10-year performance, IHF leads with 9.49% vs 9.25% for XHS. On fees, XHS is cheaper at 0.35% per year. On volatility, XHS has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHF or XHS?

Over the 10-year period, IHF has performed better with a 9.49% return vs 9.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHF or XHS?

XHS is cheaper with a 0.35% expense ratio, compared with 0.38% for IHF.

Which ETF pays a higher dividend yield, IHF or XHS?

IHF has the higher dividend yield at 0.93%, compared with 0.20% for XHS.

What is the main difference between IHF and XHS?

IHF tracks Dow Jones U.S. Select Healthcare Providers Index, while XHS tracks S&P Health Care Services Select Industry Index. They also come from different issuers: iShares and State Street. Their fees differ too: 0.38% for IHF and 0.35% for XHS.

Which has better risk-adjusted returns?

XHS currently has the higher Sharpe Ratio (2.75 vs 1.81), 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.