IHI vs. SLV
IHI (iShares U.S. Medical Devices ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, IHI returned 8.61%/yr vs 10.58%/yr for SLV. At a 0.16 correlation, their price movements are largely independent. IHI charges 0.38%/yr vs 0.50%/yr for SLV.
Performance
IHI vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, IHI achieves a -17.20% return, which is significantly higher than SLV's -19.03% return. Over the past 10 years, IHI has underperformed SLV with an annualized return of 8.61%, while SLV has yielded a comparatively higher 10.58% annualized return.
IHI
- 1D
- 0.00%
- 1M
- 3.52%
- 6M
- -18.57%
- YTD
- -17.20%
- 1Y
- -15.43%
- 3Y*
- -2.86%
- 5Y*
- -2.90%
- 10Y*
- 8.61%
SLV
- 1D
- -3.32%
- 1M
- -14.90%
- 6M
- -32.46%
- YTD
- -19.03%
- 1Y
- 48.90%
- 3Y*
- 31.65%
- 5Y*
- 16.48%
- 10Y*
- 10.58%
IHI vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -17.20% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.17% | 32.75% | 15.45% | 30.81% |
SLV iShares Silver Trust | -19.03% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between IHI and SLV is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since May 5, 2006 | 0.16 |
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Return for Risk
IHI vs. SLV — Risk / Return Rank
IHI
SLV
IHI vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.40 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.20 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 0.96 | -1.56 |
| Martin ratioReturn relative to average drawdown | -1.25 | 1.99 | -3.25 |
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Drawdowns
IHI vs. SLV - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.65%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for IHI and SLV.
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Drawdown Indicators
| IHI | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.65% | -76.28% | +26.63% |
Max Drawdown (1Y)Largest decline over 1 year | -26.11% | -50.97% | +24.86% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -50.97% | +24.33% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -50.97% | +17.85% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -50.97% | +17.72% |
Current DrawdownCurrent decline from peak | -21.82% | -50.61% | +28.79% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -44.67% | +36.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.34% | 24.60% | -12.26% |
Volatility
IHI vs. SLV - Volatility Comparison
The current volatility for iShares U.S. Medical Devices ETF (IHI) is 7.03%, while iShares Silver Trust (SLV) has a volatility of 14.50%. This indicates that IHI experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IHI | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 14.50% | -7.47% |
Volatility (6M)Calculated over the trailing 6-month period | 14.56% | 57.45% | -42.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.25% | 61.10% | -42.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.23% | 36.85% | -17.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.86% | 32.17% | -12.31% |
IHI vs. SLV - Expense Ratio Comparison
IHI has a 0.38% expense ratio, which is lower than SLV's 0.50% expense ratio.
Dividends
IHI vs. SLV - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.47%, while SLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.47% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IHI and SLV 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.
SLV has higher volatility (14.50%) compared to IHI (7.03%). In terms of maximum drawdown, IHI dropped -49.65% vs SLV's -76.28%.
On 10-year performance, SLV leads with 10.58% vs 8.61% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, IHI has been the lower-risk option at 7.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 10.58% return vs 8.61%. 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 0.50% for SLV.
IHI has the higher dividend yield at 0.47%, compared with 0.00% for SLV.
IHI is categorized as Health & Biotech Equities, while SLV is Silver. IHI tracks Dow Jones U.S. Select Medical Equipment Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.38% for IHI and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (0.81 vs -0.85), 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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