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IHI vs. IYH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHI vs. IYH

Last updated Jun 9, 2026

IHI (iShares U.S. Medical Devices ETF) and IYH (iShares U.S. Healthcare ETF) are both Health & Biotech Equities funds from iShares - IHI tracks the Dow Jones U.S. Select Medical Equipment Index while IYH tracks the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, IHI returned 8.79%/yr vs 9.38%/yr for IYH. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.43% expense ratio.

Performance

IHI vs. IYH - Performance Comparison

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

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Returns By Period

In the year-to-date period, IHI achieves a -19.71% return, which is significantly lower than IYH's -1.29% return. Over the past 10 years, IHI has underperformed IYH with an annualized return of 8.79%, while IYH has yielded a comparatively higher 9.38% annualized return.

IHI

1D
-0.44%
1M
1.73%
YTD
-19.71%
6M
-19.80%
1Y
-19.39%
3Y*
-1.88%
5Y*
-2.08%
10Y*
8.79%

IYH

1D
-0.28%
1M
6.02%
YTD
-1.29%
6M
0.79%
1Y
15.28%
3Y*
6.60%
5Y*
4.95%
10Y*
9.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IHI vs. IYH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IHI
iShares U.S. Medical Devices ETF		-19.71%6.88%8.62%3.24%-19.80%21.03%24.17%32.75%15.45%30.81%
IYH
iShares U.S. Healthcare ETF		-1.29%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%

Correlation

The correlation between IHI and IYH is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.68

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

0.71

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

0.79

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

0.82

Correlation (All Time)
Calculated using the full available price history since May 8, 2006

0.83

The correlation between IHI and IYH shifts across timeframes, from 0.68 (1 year) to 0.83 (all time), reflecting how their relationship changes across market environments.

IHI vs. IYH - Sectors Allocation Comparison

Sectors
IHI
IYH

Healthcare

100.0%
100.0%

Industrials

0.2%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IHI
100.0%
IYH
100.0%

Industrials

IHI
0.2%
IYH

-

Basic Materials

IHI

-

IYH

-

Communication Services

IHI

-

IYH

-

Consumer Cyclical

IHI

-

IYH

-

Consumer Defensive

IHI

-

IYH

-

Energy

IHI

-

IYH

-

Financial Services

IHI

-

IYH

-

Real Estate

IHI

-

IYH

-

Technology

IHI

-

IYH

-

Utilities

IHI

-

IYH

-

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. Medical Devices ETF

iShares U.S. Healthcare ETF

Often compared with IHI:
IHI vs. XLVIHI vs. VHTIHI vs. XHEIHI vs. SPYIHI vs. FHLCIHI vs. IHFIHI vs. IXJ
Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. IBB

Return for Risk

IHI vs. IYH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHI
IHI Risk / Return Rank: 11
Overall Rank
IHI Sharpe Ratio Rank: 11
Sharpe Ratio Rank
IHI Sortino Ratio Rank: 11
Sortino Ratio Rank
IHI Omega Ratio Rank: 11
Omega Ratio Rank
IHI Calmar Ratio Rank: 33
Calmar Ratio Rank
IHI Martin Ratio Rank: 00
Martin Ratio Rank
IYH
IYH Risk / Return Rank: 3131
Overall Rank
IYH Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3333
Sortino Ratio Rank
IYH Omega Ratio Rank: 3030
Omega Ratio Rank
IYH Calmar Ratio Rank: 3232
Calmar Ratio Rank
IYH Martin Ratio Rank: 2727
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.

IHI vs. IYH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and iShares U.S. Healthcare ETF (IYH). 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.

IHIIYHDifference
Sharpe ratioReturn per unit of total volatility
-1.15
1.02

-2.17

Sortino ratioReturn per unit of downside risk
-1.60
1.64

-3.24

Omega ratioGain probability vs. loss probability

0.82

1.18

-0.36

Calmar ratioReturn relative to maximum drawdown

-0.75

1.44

-2.19

Martin ratioReturn relative to average drawdown

-1.85

3.45

-5.31

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHI vs. IYH - Sharpe Ratio Comparison

The current IHI Sharpe Ratio is -1.15, which is lower than the IYH Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of IHI and IYH, 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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Sharpe Ratios by Period

IHIIYHDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.15

1.02

-2.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.11

0.33

-0.44

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.56

-0.12

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.43

+0.04

Drawdowns

IHI vs. IYH - Drawdown Comparison

The maximum IHI drawdown since its inception was -49.65%, which is greater than IYH's maximum drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for IHI and IYH.

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Drawdown Indicators

IHIIYHDifference

Max Drawdown

Largest peak-to-trough decline

-49.65%

-43.12%

-6.53%

Max Drawdown (1Y)

Largest decline over 1 year

-26.11%

-10.64%

-15.47%

Max Drawdown (3Y)

Largest decline over 3 years

-26.64%

-17.91%

-8.73%

Max Drawdown (5Y)

Largest decline over 5 years

-33.12%

-17.91%

-15.21%

Max Drawdown (10Y)

Largest decline over 10 years

-33.25%

-28.40%

-4.85%

Current Drawdown

Current decline from peak

-24.19%

-4.56%

-19.63%

Average Drawdown

Average peak-to-trough decline

-8.33%

-8.96%

+0.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.48%

4.43%

+6.05%

Volatility

IHI vs. IYH - Volatility Comparison

iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 7.01% compared to iShares U.S. Healthcare ETF (IYH) at 4.97%. This indicates that IHI's price experiences larger fluctuations and is considered to be riskier than IYH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IHIIYHDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.01%

4.97%

+2.04%

Volatility (6M)

Calculated over the trailing 6-month period

13.06%

10.67%

+2.39%

Volatility (1Y)

Calculated over the trailing 1-year period

17.00%

15.03%

+1.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.99%

14.97%

+4.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.80%

16.74%

+3.06%

IHI vs. IYH - Expense Ratio Comparison

Both IHI and IYH have an expense ratio of 0.43%.

Dividends

IHI vs. IYH - Dividend Comparison

IHI's dividend yield for the trailing twelve months is around 0.45%, less than IYH's 1.26% yield.

PositionTTM20252024202320222021202020192018201720162015
IHI
iShares U.S. Medical Devices ETF		0.45%0.34%0.46%0.53%0.45%0.25%0.25%0.33%0.26%0.37%0.55%1.28%
IYH
iShares U.S. Healthcare ETF		1.26%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%

Frequently Asked Questions

IHI and IYH have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IHI has higher volatility (7.01%) compared to IYH (4.97%). In terms of maximum drawdown, IHI dropped -49.65% vs IYH's -43.12%.

On 10-year performance, IYH leads with 9.38% vs 8.79% for IHI. Both ETFs have the same 0.43% expense ratio. On volatility, IYH has been the lower-risk option at 4.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYH has performed better with a 9.38% return vs 8.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IHI and IYH have the same expense ratio: 0.43% per year.

IYH has the higher dividend yield at 1.26%, compared with 0.45% for IHI.

IHI tracks Dow Jones U.S. Select Medical Equipment Index, while IYH tracks Dow Jones U.S. Health Care Index.

IYH currently has the higher Sharpe Ratio (1.02 vs -1.15), 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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