IHI vs. SPY
Compare and contrast key facts about iShares U.S. Medical Devices ETF (IHI) and SPDR S&P 500 ETF (SPY).
IHI and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IHI is a passively managed fund by iShares that tracks the performance of the Dow Jones U.S. Select Medical Equipment Index. It was launched on May 5, 2006. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both IHI and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: IHI or SPY.
Performance
IHI vs. SPY - Performance Comparison
Returns By Period
In the year-to-date period, IHI achieves a 11.40% return, which is significantly lower than SPY's 25.41% return. Both investments have delivered pretty close results over the past 10 years, with IHI having a 13.08% annualized return and SPY not far behind at 13.07%.
IHI
11.40%
0.37%
6.16%
21.16%
7.61%
13.08%
SPY
25.41%
1.18%
12.15%
32.04%
15.51%
13.07%
Key characteristics
| IHI | SPY | |
|---|---|---|
| Sharpe Ratio | 1.54 | 2.62 |
| Sortino Ratio | 2.18 | 3.50 |
| Omega Ratio | 1.27 | 1.49 |
| Calmar Ratio | 0.87 | 3.78 |
| Martin Ratio | 7.00 | 17.00 |
| Ulcer Index | 3.18% | 1.87% |
| Daily Std Dev | 14.39% | 12.14% |
| Max Drawdown | -49.64% | -55.19% |
| Current Drawdown | -9.40% | -1.38% |
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IHI vs. SPY - Expense Ratio Comparison
IHI has a 0.43% expense ratio, which is higher than SPY's 0.09% expense ratio.
Correlation
The correlation between IHI and SPY is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
IHI vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and SPDR S&P 500 ETF (SPY). 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.
Dividends
IHI vs. SPY - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.44%, less than SPY's 1.19% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.44% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% | 0.65% | 0.33% |
SPY SPDR S&P 500 ETF | 1.19% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
IHI vs. SPY - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.64%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for IHI and SPY. For additional features, visit the drawdowns tool.
Volatility
IHI vs. SPY - Volatility Comparison
The current volatility for iShares U.S. Medical Devices ETF (IHI) is 3.42%, while SPDR S&P 500 ETF (SPY) has a volatility of 4.09%. This indicates that IHI experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.