IHI vs. MOAT

Last updated Jun 9, 2026

IHI (iShares U.S. Medical Devices ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. Both are passively managed. Over the past 10 years, IHI returned 8.79%/yr vs 13.45%/yr for MOAT. A 0.70 correlation means they provide meaningful diversification when combined. IHI charges 0.43%/yr vs 0.47%/yr for MOAT.

Performance

IHI vs. MOAT - Performance Comparison

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

Returns By Period

In the year-to-date period, IHI achieves a -19.71% return, which is significantly lower than MOAT's -1.74% return. Over the past 10 years, IHI has underperformed MOAT with an annualized return of 8.79%, while MOAT has yielded a comparatively higher 13.45% 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%

MOAT

• 1D: -0.28%
• 1M: 0.23%
• YTD: -1.74%
• 6M: -1.13%
• 1Y: 13.15%
• 3Y*: 10.81%
• 5Y*: 7.70%
• 10Y*: 13.45%

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

IHI vs. MOAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
MOAT VanEck Morningstar Wide Moat ETF	-1.74%	13.20%	10.73%	31.89%	-13.66%	24.12%	14.84%	34.79%	-1.28%	23.18%

Correlation

The correlation between IHI and MOAT is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012	0.70

The correlation between IHI and MOAT shifts across timeframes, from 0.56 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

IHI vs. MOAT - Sectors Allocation Comparison

Sectors	IHI	MOAT
Healthcare	100.0%	16.0%
Industrials	0.2%	13.5%
Basic Materials	-	-
Communication Services	-	2.4%
Consumer Cyclical	-	10.3%
Consumer Defensive	-	17.5%
Energy	-	-
Financial Services	-	6.7%
Real Estate	-	0.8%
Technology	-	32.8%
Utilities	-	-

Return for Risk

IHI vs. MOAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IHI

IHI Risk / Return Rank: 1
IHI Sharpe Ratio Rank: 1
IHI Sortino Ratio Rank: 1
IHI Omega Ratio Rank: 1
IHI Calmar Ratio Rank: 3
IHI Martin Ratio Rank: 0

MOAT

MOAT Risk / Return Rank: 27
MOAT Sharpe Ratio Rank: 29
MOAT Sortino Ratio Rank: 29
MOAT Omega Ratio Rank: 27
MOAT Calmar Ratio Rank: 25
MOAT Martin Ratio Rank: 26

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. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and VanEck Morningstar Wide Moat ETF (MOAT). 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.

	IHI	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	-1.15	0.95	-2.10
Sortino ratio: Return per unit of downside risk	-1.60	1.45	-3.05
Omega ratio: Gain probability vs. loss probability	0.82	1.17	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.75	1.06	-1.81
Martin ratio: Return relative to average drawdown	-1.85	3.29	-5.14
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. MOAT - Sharpe Ratio Comparison

The current IHI Sharpe Ratio is -1.15, which is lower than the MOAT Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of IHI and MOAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IHI	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.15	0.95	-2.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.11	0.43	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.72	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.77	-0.30

Drawdowns

IHI vs. MOAT - Drawdown Comparison

The maximum IHI drawdown since its inception was -49.65%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for IHI and MOAT.

Drawdown Indicators

	IHI	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-49.65%	-33.31%	-16.34%
Max Drawdown (1Y) Largest decline over 1 year	-26.11%	-12.43%	-13.68%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	-21.44%	-5.20%
Max Drawdown (5Y) Largest decline over 5 years	-33.12%	-23.96%	-9.16%
Max Drawdown (10Y) Largest decline over 10 years	-33.25%	-33.31%	+0.06%
Current Drawdown Current decline from peak	-24.19%	-5.49%	-18.70%
Average Drawdown Average peak-to-trough decline	-8.33%	-3.83%	-4.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.48%	4.01%	+6.47%

Volatility

IHI vs. MOAT - Volatility Comparison

iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 7.01% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 4.01%. This indicates that IHI's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHI	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.01%	4.01%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	13.06%	9.90%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	17.00%	13.90%	+3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	18.19%	+0.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.80%	18.69%	+1.11%

IHI vs. MOAT - Expense Ratio Comparison

IHI has a 0.43% expense ratio, which is lower than MOAT's 0.47% expense ratio.

Dividends

IHI vs. MOAT - Dividend Comparison

IHI's dividend yield for the trailing twelve months is around 0.45%, less than MOAT's 1.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MOAT VanEck Morningstar Wide Moat ETF	1.38%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both IHI and MOAT in my portfolio?

IHI and MOAT have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IHI or MOAT?

IHI has higher volatility (7.01%) compared to MOAT (4.01%). In terms of maximum drawdown, IHI dropped -49.65% vs MOAT's -33.31%.

Which ETF is better, IHI or MOAT?

On 10-year performance, MOAT leads with 13.45% vs 8.79% for IHI. On fees, IHI is cheaper at 0.43% per year. On volatility, MOAT has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHI or MOAT?

Over the 10-year period, MOAT has performed better with a 13.45% return vs 8.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHI or MOAT?

IHI is cheaper with a 0.43% expense ratio, compared with 0.47% for MOAT.

Which ETF pays a higher dividend yield, IHI or MOAT?

MOAT has the higher dividend yield at 1.38%, compared with 0.45% for IHI.

What is the main difference between IHI and MOAT?

IHI is categorized as Health & Biotech Equities, while MOAT is Large Cap Blend Equities. IHI tracks Dow Jones U.S. Select Medical Equipment Index, while MOAT tracks Morningstar Wide Moat Focus Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.43% for IHI and 0.47% for MOAT.

Which has better risk-adjusted returns?

MOAT currently has the higher Sharpe Ratio (0.95 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.