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 8.88%/yr vs 12.68%/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 -20.78% return, which is significantly lower than SLV's -13.49% return. Over the past 10 years, IHI has underperformed SLV with an annualized return of 8.88%, while SLV has yielded a comparatively higher 12.68% annualized 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%
SLV
- 1D
- -5.40%
- 1M
- -18.48%
- YTD
- -13.49%
- 6M
- -14.05%
- 1Y
- 69.08%
- 3Y*
- 39.38%
- 5Y*
- 18.31%
- 10Y*
- 12.68%
IHI vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -20.78% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.17% | 32.75% | 15.45% | 30.81% |
SLV iShares Silver Trust | -13.49% | 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 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
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 | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 1.25 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 1.47 | -2.19 |
| Martin ratioReturn relative to average drawdown | -1.63 | 3.16 | -4.79 |
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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% | -47.23% | +21.12% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -47.23% | +20.59% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -47.23% | +14.11% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -47.23% | +13.98% |
Current DrawdownCurrent decline from peak | -25.20% | -47.23% | +22.03% |
Average DrawdownAverage peak-to-trough decline | -8.36% | -44.65% | +36.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.44% | 21.91% | -10.47% |
Volatility
IHI vs. SLV - Volatility Comparison
The current volatility for iShares U.S. Medical Devices ETF (IHI) is 6.75%, while iShares Silver Trust (SLV) has a volatility of 14.34%. 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 | 6.75% | 14.34% | -7.59% |
Volatility (6M)Calculated over the trailing 6-month period | 13.82% | 59.27% | -45.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.62% | 60.33% | -42.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.09% | 36.59% | -17.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.82% | 32.09% | -12.27% |
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 0.49%, 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 | 0.49% | 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 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.34%) compared to IHI (6.75%). In terms of maximum drawdown, IHI dropped -49.65% vs SLV's -76.28%.
On 10-year performance, SLV leads with 12.68% vs 8.88% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, IHI has been the lower-risk option at 6.75%. 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 12.68% return vs 8.88%. 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 0.49%, 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 (1.15 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.
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