IHI vs. PIT

Last updated Jun 24, 2026

IHI (iShares U.S. Medical Devices ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while PIT is a Commodities fund actively managed by VanEck. IHI is passively managed, while PIT is actively managed. Over the past 3 years, IHI returned -3.57%/yr vs 18.98%/yr for PIT. At a correlation of -0.01, they often move in opposite directions. IHI charges 0.38%/yr vs 0.55%/yr for PIT.

Performance

IHI vs. PIT - Performance Comparison

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

Returns By Period

In the year-to-date period, IHI achieves a -20.78% return, which is significantly lower than PIT's 25.62% return.

IHI

• 1D: 1.61%
• 1M: -2.72%
• YTD: -20.78%
• 6M: -21.40%
• 1Y: -18.62%
• 3Y*: -3.57%
• 5Y*: -3.41%
• 10Y*: 8.88%

PIT

• 1D: -1.32%
• 1M: -11.78%
• YTD: 25.62%
• 6M: 23.58%
• 1Y: 39.64%
• 3Y*: 18.98%
• 5Y*: —
• 10Y*: —

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

IHI vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IHI iShares U.S. Medical Devices ETF	-20.78%	6.88%	8.62%	3.24%	0.50%
PIT VanEck Commodity Strategy ETF	25.62%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between IHI and PIT is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.01

The correlation between IHI and PIT shifts across timeframes, from -0.13 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IHI vs. PIT — Risk / Return Rank

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

IHI

IHI Risk / Return Rank: 2
IHI Sharpe Ratio Rank: 1
IHI Sortino Ratio Rank: 2
IHI Omega Ratio Rank: 2
IHI Calmar Ratio Rank: 3
IHI Martin Ratio Rank: 1

PIT

PIT Risk / Return Rank: 57
PIT Sharpe Ratio Rank: 59
PIT Sortino Ratio Rank: 52
PIT Omega Ratio Rank: 56
PIT Calmar Ratio Rank: 56
PIT Martin Ratio Rank: 63

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. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and VanEck Commodity Strategy ETF (PIT). 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	PIT	Difference
Sharpe ratio: Return per unit of total volatility	-1.06	1.85	-2.91
Sortino ratio: Return per unit of downside risk	-1.46	2.40	-3.85
Omega ratio: Gain probability vs. loss probability	0.84	1.33	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.72	2.62	-3.34
Martin ratio: Return relative to average drawdown	-1.63	10.88	-12.51

IHI vs. PIT - Sharpe Ratio Comparison

The current IHI Sharpe Ratio is -1.06, which is lower than the PIT Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of IHI and PIT, 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

IHI vs. PIT - Drawdown Comparison

The maximum IHI drawdown since its inception was -49.65%, which is greater than PIT's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for IHI and PIT.

Drawdown Indicators

	IHI	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-49.65%	-15.19%	-34.46%
Max Drawdown (1Y) Largest decline over 1 year	-26.11%	-15.19%	-10.92%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	-15.19%	-11.45%
Max Drawdown (5Y) Largest decline over 5 years	-33.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.25%	—	—
Current Drawdown Current decline from peak	-25.20%	-15.19%	-10.01%
Average Drawdown Average peak-to-trough decline	-8.36%	-4.08%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.44%	3.66%	+7.78%

Volatility

IHI vs. PIT - Volatility Comparison

iShares U.S. Medical Devices ETF (IHI) has a higher volatility of 6.75% compared to VanEck Commodity Strategy ETF (PIT) at 4.72%. This indicates that IHI's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHI	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	4.72%	+2.03%
Volatility (6M) Calculated over the trailing 6-month period	13.82%	19.40%	-5.58%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	21.66%	-4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.09%	17.50%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.82%	17.50%	+2.32%

IHI vs. PIT - Expense Ratio Comparison

IHI has a 0.38% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

IHI vs. PIT - Dividend Comparison

IHI's dividend yield for the trailing twelve months is around 0.49%, less than PIT's 7.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHI iShares U.S. Medical Devices ETF	0.49%	0.34%	0.46%	0.53%	0.45%	0.25%	0.25%	0.33%	0.26%	0.37%	0.55%	1.28%
PIT VanEck Commodity Strategy ETF	7.10%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IHI and PIT in my portfolio?

IHI and PIT have a correlation of -0.13, 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 PIT?

IHI has higher volatility (6.75%) compared to PIT (4.72%). In terms of maximum drawdown, IHI dropped -49.65% vs PIT's -15.19%.

Which ETF is better, IHI or PIT?

On 3-year performance, PIT leads with 18.98% vs -3.57% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, PIT has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IHI or PIT?

Over the 3-year period, PIT has performed better with a 18.98% return vs -3.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IHI or PIT?

IHI is cheaper with a 0.38% expense ratio, compared with 0.55% for PIT.

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

PIT has the higher dividend yield at 7.10%, compared with 0.49% for IHI.

What is the main difference between IHI and PIT?

IHI is categorized as Health & Biotech Equities, while PIT is Commodities. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.38% for IHI and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.85 vs -1.06), 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.