IHI vs. XLVI

Last updated Jun 5, 2026

IHI (iShares U.S. Medical Devices ETF) and XLVI (State Street Health Care Select Sector SPDR Premium Income ETF) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while XLVI is a Derivative Income fund actively managed by State Street. IHI is passively managed, while XLVI is actively managed. A 0.64 correlation means they provide meaningful diversification when combined. IHI charges 0.43%/yr vs 0.35%/yr for XLVI.

Performance

IHI vs. XLVI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Medical Devices ETF (IHI) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IHI achieves a -19.70% return, which is significantly lower than XLVI's 1.35% return.

IHI

• 1D: 2.76%
• 1M: 0.16%
• YTD: -19.70%
• 6M: -21.09%
• 1Y: -19.03%
• 3Y*: -2.23%
• 5Y*: -1.96%
• 10Y*: 8.86%

XLVI

• 1D: 2.03%
• 1M: 4.01%
• YTD: 1.35%
• 6M: 3.19%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IHI vs. XLVI - Yearly Performance Comparison

	2026 (YTD)	2025
IHI iShares U.S. Medical Devices ETF	-19.70%	1.43%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	1.35%	12.79%

Correlation

The correlation between IHI and XLVI is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	0.64

IHI vs. XLVI - Sectors Allocation Comparison

Sectors	IHI	XLVI
Healthcare	100.0%	-
Industrials	0.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.6%
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

IHI vs. XLVI — 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: 2
IHI Calmar Ratio Rank: 3
IHI Martin Ratio Rank: 0

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. XLVI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) and State Street Health Care Select Sector SPDR Premium Income ETF (XLVI). 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	XLVI	Difference
Sharpe ratio: Return per unit of total volatility	-1.13	—	—
Sortino ratio: Return per unit of downside risk	-1.57	—	—
Omega ratio: Gain probability vs. loss probability	0.83	—	—
Calmar ratio: Return relative to maximum drawdown	-0.73	—	—
Martin ratio: Return relative to average drawdown	-1.85	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	IHI	XLVI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.13	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	1.54	-1.07

Drawdowns

IHI vs. XLVI - Drawdown Comparison

The maximum IHI drawdown since its inception was -49.65%, which is greater than XLVI's maximum drawdown of -8.14%. Use the drawdown chart below to compare losses from any high point for IHI and XLVI.

Drawdown Indicators

	IHI	XLVI	Difference
Max Drawdown Largest peak-to-trough decline	-49.65%	-8.14%	-41.51%
Max Drawdown (1Y) Largest decline over 1 year	-26.11%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	—	—
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	-24.17%	-2.08%	-22.09%
Average Drawdown Average peak-to-trough decline	-8.32%	-1.95%	-6.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.29%	—	—

Volatility

Volatility by Period

	IHI	XLVI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.01%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.96%	11.12%	+5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	11.12%	+7.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.79%	11.12%	+8.67%

IHI vs. XLVI - Expense Ratio Comparison

IHI has a 0.43% expense ratio, which is higher than XLVI's 0.35% expense ratio.

Dividends

IHI vs. XLVI - Dividend Comparison

IHI's dividend yield for the trailing twelve months is around 0.45%, less than XLVI's 11.30% 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%
XLVI State Street Health Care Select Sector SPDR Premium Income ETF	11.30%	5.73%	0.00%	0.00%	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 XLVI in my portfolio?

IHI and XLVI have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IHI or XLVI?

On fees, XLVI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IHI or XLVI?

XLVI is cheaper with a 0.35% expense ratio, compared with 0.43% for IHI.

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

XLVI has the higher dividend yield at 11.30%, compared with 0.45% for IHI.

What is the main difference between IHI and XLVI?

IHI is categorized as Health & Biotech Equities, while XLVI is Derivative Income. They also come from different issuers: iShares and State Street. Their fees differ too: 0.43% for IHI and 0.35% for XLVI.