IHI vs. IYH
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 8.42%/yr vs 9.38%/yr for IYH. Their correlation of 0.83 suggests significant overlap in exposure. IHI charges 0.38%/yr vs 0.43%/yr for IYH.
Performance
IHI vs. IYH - Performance Comparison
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Returns By Period
In the year-to-date period, IHI achieves a -18.43% return, which is significantly lower than IYH's 3.48% return. Over the past 10 years, IHI has underperformed IYH with an annualized return of 8.42%, while IYH has yielded a comparatively higher 9.38% annualized return.
IHI
- 1D
- 0.14%
- 1M
- 3.08%
- 6M
- -18.01%
- YTD
- -18.43%
- 1Y
- -15.42%
- 3Y*
- -3.77%
- 5Y*
- -3.32%
- 10Y*
- 8.42%
- ALL TIME*
- 9.83%
IYH
- 1D
- -1.19%
- 1M
- 6.88%
- 6M
- 2.90%
- YTD
- 3.48%
- 1Y
- 22.59%
- 3Y*
- 6.68%
- 5Y*
- 4.93%
- 10Y*
- 9.38%
- ALL TIME*
- 7.93%
IHI vs. IYH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -18.43% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.17% | 32.75% | 15.45% | 30.81% |
IYH iShares U.S. Healthcare ETF | 3.48% | 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 5, 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
Technology
-
Industrials
-
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
-
Real Estate
-
-
Utilities
-
-
Healthcare
IHI
IYH
Technology
IHI
IYH
-
Industrials
IHI
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
-
Utilities
IHI
-
IYH
-
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Return for Risk
IHI vs. IYH — Risk / Return Rank
IHI
IYH
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.
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.
| IHI | IYH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -3.30 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.25 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 2.13 | -2.72 |
| Martin ratioReturn relative to average drawdown | -1.22 | 5.00 | -6.22 |
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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
| IHI | IYH | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -22.98% | -3.71% | -19.27% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -8.93% | +0.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.70% | 4.53% | +8.17% |
Volatility
IHI vs. IYH - Volatility Comparison
iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 9.63% compared to iShares U.S. Healthcare ETF (IYH) at 6.30%. 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
| IHI | IYH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.63% | 6.30% | +3.33% |
Volatility (6M)Calculated over the trailing 6-month period | 16.15% | 11.87% | +4.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.55% | 15.86% | +3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.48% | 15.19% | +4.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.98% | 16.79% | +3.19% |
IHI vs. IYH - Expense Ratio Comparison
IHI has a 0.38% expense ratio, which is lower than IYH's 0.43% expense ratio.
Dividends
IHI vs. IYH - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.48%, less than IYH's 1.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.48% | 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 | 1.20% | 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 (9.63%) compared to IYH (6.30%). In terms of maximum drawdown, IHI dropped -49.65% vs IYH's -43.12%.
On 10-year performance, IYH leads with 9.38% vs 8.42% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, IYH has been the lower-risk option at 6.30%. 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 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IHI is cheaper with a 0.38% expense ratio, compared with 0.43% for IYH.
IYH has the higher dividend yield at 1.20%, compared with 0.48% for IHI.
IHI tracks Dow Jones U.S. Select Medical Equipment Index, while IYH tracks Dow Jones U.S. Health Care Index. Their fees differ too: 0.38% for IHI and 0.43% for IYH.
IYH currently has the higher Sharpe Ratio (1.43 vs -0.79), 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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