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IYH vs. IBB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYH vs. IBB

Last updated Jun 23, 2026

IYH (iShares U.S. Healthcare ETF) and IBB (iShares Nasdaq Biotechnology ETF) are both Health & Biotech Equities funds from iShares - IYH tracks the Dow Jones U.S. Health Care Index while IBB tracks the NASDAQ Biotechnology Index. Both are passively managed. Over the past 10 years, IYH returned 9.59%/yr vs 8.14%/yr for IBB. A 0.78 correlation means they provide meaningful diversification when combined. IYH charges 0.43%/yr vs 0.47%/yr for IBB.

Performance

IYH vs. IBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Healthcare ETF (IYH) and iShares Nasdaq Biotechnology ETF (IBB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IYH achieves a -2.40% return, which is significantly lower than IBB's 4.97% return. Over the past 10 years, IYH has outperformed IBB with an annualized return of 9.59%, while IBB has yielded a comparatively lower 8.14% annualized return.

IYH

1D
0.80%
1M
0.57%
YTD
-2.40%
6M
-2.92%
1Y
15.59%
3Y*
5.60%
5Y*
4.42%
10Y*
9.59%

IBB

1D
1.94%
1M
4.88%
YTD
4.97%
6M
2.54%
1Y
41.38%
3Y*
11.58%
5Y*
2.25%
10Y*
8.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYH vs. IBB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYH
iShares U.S. Healthcare ETF		-2.40%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%
IBB
iShares Nasdaq Biotechnology ETF		4.97%27.98%-2.41%3.76%-13.69%0.95%26.01%25.42%-9.53%21.08%

Correlation

The correlation between IYH and IBB is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.74

Correlation (3Y)
Calculated over the trailing 3-year period

0.73

Correlation (5Y)
Calculated over the trailing 5-year period

0.74

Correlation (10Y)
Calculated over the trailing 10-year period

0.77

Correlation (All Time)
Calculated using the full available price history since Feb 12, 2001

0.78

The correlation between IYH and IBB has been stable across timeframes, ranging from 0.73 to 0.78 - a consistent structural relationship.

IYH vs. IBB - Sectors Allocation Comparison

Sectors
IYH
IBB

Healthcare

100.0%
100.0%

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

IYH
100.0%
IBB
100.0%

Basic Materials

IYH

-

IBB

-

Communication Services

IYH

-

IBB

-

Consumer Cyclical

IYH

-

IBB

-

Consumer Defensive

IYH

-

IBB

-

Energy

IYH

-

IBB

-

Financial Services

IYH

-

IBB

-

Industrials

IYH

-

IBB

-

Real Estate

IYH

-

IBB

-

Technology

IYH

-

IBB

-

Utilities

IYH

-

IBB

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares U.S. Healthcare ETF

iShares Nasdaq Biotechnology ETF

Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. MLPX
Often compared with IBB:
IBB vs. XBIIBB vs. ARKGIBB vs. XLVIBB vs. IBBQIBB vs. BBHIBB vs. SPYIBB vs. FBIOX

Return for Risk

IYH vs. IBB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYH
IYH Risk / Return Rank: 2929
Overall Rank
IYH Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 3232
Sortino Ratio Rank
IYH Omega Ratio Rank: 2828
Omega Ratio Rank
IYH Calmar Ratio Rank: 3030
Calmar Ratio Rank
IYH Martin Ratio Rank: 2727
Martin Ratio Rank
IBB
IBB Risk / Return Rank: 6969
Overall Rank
IBB Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
IBB Sortino Ratio Rank: 6565
Sortino Ratio Rank
IBB Omega Ratio Rank: 5757
Omega Ratio Rank
IBB Calmar Ratio Rank: 8484
Calmar Ratio Rank
IBB Martin Ratio Rank: 7373
Martin Ratio Rank
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.

IYH vs. IBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Healthcare ETF (IYH) and iShares Nasdaq Biotechnology ETF (IBB). 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.

IYHIBBDifference
Sharpe ratioReturn per unit of total volatility
1.04
2.05

-1.01

Sortino ratioReturn per unit of downside risk
1.66
2.88

-1.22

Omega ratioGain probability vs. loss probability

1.19

1.34

-0.16

Calmar ratioReturn relative to maximum drawdown

1.47

4.32

-2.84

Martin ratioReturn relative to average drawdown

3.47

13.28

-9.81

IYH vs. IBB - Sharpe Ratio Comparison

The current IYH Sharpe Ratio is 1.04, which is lower than the IBB Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of IYH and IBB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

IYH vs. IBB - Drawdown Comparison

The maximum IYH drawdown since its inception was -43.12%, smaller than the maximum IBB drawdown of -62.85%. Use the drawdown chart below to compare losses from any high point for IYH and IBB.

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Drawdown Indicators

IYHIBBDifference

Max Drawdown

Largest peak-to-trough decline

-43.12%

-62.85%

+19.73%

Max Drawdown (1Y)

Largest decline over 1 year

-10.64%

-9.63%

-1.01%

Max Drawdown (3Y)

Largest decline over 3 years

-17.91%

-24.85%

+6.94%

Max Drawdown (5Y)

Largest decline over 5 years

-17.91%

-39.82%

+21.91%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

-39.82%

+11.42%

Current Drawdown

Current decline from peak

-5.63%

-0.27%

-5.36%

Average Drawdown

Average peak-to-trough decline

-8.95%

-21.15%

+12.20%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.51%

3.12%

+1.39%

Volatility

IYH vs. IBB - Volatility Comparison

The current volatility for iShares U.S. Healthcare ETF (IYH) is 5.02%, while iShares Nasdaq Biotechnology ETF (IBB) has a volatility of 6.96%. This indicates that IYH experiences smaller price fluctuations and is considered to be less risky than IBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYHIBBDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.02%

6.96%

-1.94%

Volatility (6M)

Calculated over the trailing 6-month period

10.60%

15.99%

-5.39%

Volatility (1Y)

Calculated over the trailing 1-year period

15.10%

20.37%

-5.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.97%

22.03%

-7.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.75%

23.22%

-6.47%

IYH vs. IBB - Expense Ratio Comparison

IYH has a 0.43% expense ratio, which is lower than IBB's 0.47% expense ratio.

Dividends

IYH vs. IBB - Dividend Comparison

IYH's dividend yield for the trailing twelve months is around 1.27%, more than IBB's 0.23% yield.

PositionTTM20252024202320222021202020192018201720162015
IBB
iShares Nasdaq Biotechnology ETF		0.23%0.23%0.29%0.26%0.31%0.21%0.21%0.33%0.20%0.30%0.19%0.03%
IYH
iShares U.S. Healthcare ETF		1.27%1.19%1.25%1.18%1.10%0.94%1.16%1.14%1.95%1.10%1.29%2.02%

Frequently Asked Questions

IYH and IBB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IBB has higher volatility (6.96%) compared to IYH (5.02%). In terms of maximum drawdown, IYH dropped -43.12% vs IBB's -62.85%.

On 10-year performance, IYH leads with 9.59% vs 8.14% for IBB. On fees, IYH is cheaper at 0.43% per year. On volatility, IYH has been the lower-risk option at 5.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYH has performed better with a 9.59% return vs 8.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYH is cheaper with a 0.43% expense ratio, compared with 0.47% for IBB.

IYH has the higher dividend yield at 1.27%, compared with 0.23% for IBB.

IYH tracks Dow Jones U.S. Health Care Index, while IBB tracks NASDAQ Biotechnology Index. Their fees differ too: 0.43% for IYH and 0.47% for IBB.

IBB currently has the higher Sharpe Ratio (2.05 vs 1.04), 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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