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IYH vs. IHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYH vs. IHE

Last updated Jun 4, 2026

IYH (iShares U.S. Healthcare ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds from iShares - IYH tracks the Dow Jones U.S. Health Care Index while IHE tracks the Dow Jones U.S. Select Pharmaceuticals Index. Both are passively managed. Over the past 10 years, IYH returned 8.96%/yr vs 7.81%/yr for IHE. Their correlation of 0.88 suggests significant overlap in exposure. IYH charges 0.43%/yr vs 0.42%/yr for IHE.

Performance

IYH vs. IHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Healthcare ETF (IYH) and iShares U.S. Pharmaceuticals ETF (IHE). 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 -4.19% return, which is significantly lower than IHE's 6.47% return. Over the past 10 years, IYH has outperformed IHE with an annualized return of 8.96%, while IHE has yielded a comparatively lower 7.81% annualized return.

IYH

1D
0.96%
1M
1.98%
YTD
-4.19%
6M
-4.54%
1Y
13.08%
3Y*
5.48%
5Y*
4.59%
10Y*
8.96%

IHE

1D
1.16%
1M
1.80%
YTD
6.47%
6M
8.51%
1Y
40.15%
3Y*
17.47%
5Y*
9.98%
10Y*
7.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYH vs. IHE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYH
iShares U.S. Healthcare ETF		-4.19%13.16%2.99%2.14%-4.46%23.41%15.56%20.80%5.80%22.27%
IHE
iShares U.S. Pharmaceuticals ETF		6.47%31.69%8.13%1.06%-4.87%13.07%13.66%15.47%-7.76%10.64%

Correlation

The correlation between IYH and IHE is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.87

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

0.84

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

0.85

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

0.85

Correlation (All Time)
Calculated using the full available price history since May 8, 2006

0.88

The correlation between IYH and IHE has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.

IYH vs. IHE - Sectors Allocation Comparison

Sectors
IYH
IHE

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%
IHE
100.0%

Basic Materials

IYH

-

IHE

-

Communication Services

IYH

-

IHE

-

Consumer Cyclical

IYH

-

IHE

-

Consumer Defensive

IYH

-

IHE

-

Energy

IYH

-

IHE

-

Financial Services

IYH

-

IHE

-

Industrials

IYH

-

IHE

-

Real Estate

IYH

-

IHE

-

Technology

IYH

-

IHE

-

Utilities

IYH

-

IHE

-

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 U.S. Pharmaceuticals ETF

Often compared with IYH:
IYH vs. VHTIYH vs. XLVIYH vs. SPYIYH vs. IYEIYH vs. IFRAIYH vs. BMEDIYH vs. IBB
Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP

Return for Risk

IYH vs. IHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYH
IYH Risk / Return Rank: 2525
Overall Rank
IYH Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
IYH Sortino Ratio Rank: 2626
Sortino Ratio Rank
IYH Omega Ratio Rank: 2323
Omega Ratio Rank
IYH Calmar Ratio Rank: 2626
Calmar Ratio Rank
IYH Martin Ratio Rank: 2323
Martin Ratio Rank
IHE
IHE Risk / Return Rank: 7474
Overall Rank
IHE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IHE Sortino Ratio Rank: 7575
Sortino Ratio Rank
IHE Omega Ratio Rank: 6565
Omega Ratio Rank
IHE Calmar Ratio Rank: 8585
Calmar Ratio Rank
IHE Martin Ratio Rank: 7575
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. IHE - Risk-Adjusted Trends Comparison

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

IYHIHEDifference
Sharpe ratioReturn per unit of total volatility
0.89
2.36

-1.47

Sortino ratioReturn per unit of downside risk
1.43
3.43

-2.00

Omega ratioGain probability vs. loss probability

1.16

1.40

-0.24

Calmar ratioReturn relative to maximum drawdown

1.23

4.76

-3.53

Martin ratioReturn relative to average drawdown

2.97

14.35

-11.37

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYH vs. IHE - Sharpe Ratio Comparison

The current IYH Sharpe Ratio is 0.89, which is lower than the IHE Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of IYH and IHE, 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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Sharpe Ratios by Period

IYHIHEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.89

2.36

-1.47

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.31

0.62

-0.31

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

0.43

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.51

-0.08

Drawdowns

IYH vs. IHE - Drawdown Comparison

The maximum IYH drawdown since its inception was -43.12%, which is greater than IHE's maximum drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for IYH and IHE.

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Drawdown Indicators

IYHIHEDifference

Max Drawdown

Largest peak-to-trough decline

-43.12%

-38.20%

-4.92%

Max Drawdown (1Y)

Largest decline over 1 year

-10.64%

-8.47%

-2.17%

Max Drawdown (3Y)

Largest decline over 3 years

-17.91%

-15.92%

-1.99%

Max Drawdown (5Y)

Largest decline over 5 years

-17.91%

-16.03%

-1.88%

Max Drawdown (10Y)

Largest decline over 10 years

-28.40%

-29.59%

+1.19%

Current Drawdown

Current decline from peak

-7.36%

-2.80%

-4.56%

Average Drawdown

Average peak-to-trough decline

-8.96%

-7.92%

-1.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.41%

2.81%

+1.60%

Volatility

IYH vs. IHE - Volatility Comparison

The current volatility for iShares U.S. Healthcare ETF (IYH) is 4.24%, while iShares U.S. Pharmaceuticals ETF (IHE) has a volatility of 5.53%. This indicates that IYH experiences smaller price fluctuations and is considered to be less risky than IHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYHIHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.24%

5.53%

-1.29%

Volatility (6M)

Calculated over the trailing 6-month period

10.32%

12.48%

-2.16%

Volatility (1Y)

Calculated over the trailing 1-year period

14.74%

17.07%

-2.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.92%

16.24%

-1.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.72%

18.05%

-1.33%

IYH vs. IHE - Expense Ratio Comparison

IYH has a 0.43% expense ratio, which is higher than IHE's 0.42% expense ratio.

Dividends

IYH vs. IHE - Dividend Comparison

IYH's dividend yield for the trailing twelve months is around 1.30%, less than IHE's 1.65% yield.

PositionTTM20252024202320222021202020192018201720162015
IHE
iShares U.S. Pharmaceuticals ETF		1.65%1.76%1.73%1.39%2.01%1.49%1.19%1.40%1.25%1.36%0.92%1.93%
IYH
iShares U.S. Healthcare ETF		1.30%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 IHE have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IHE has higher volatility (5.53%) compared to IYH (4.24%). In terms of maximum drawdown, IYH dropped -43.12% vs IHE's -38.20%.

On 10-year performance, IYH leads with 8.96% vs 7.81% for IHE. On fees, IHE is cheaper at 0.42% per year. On volatility, IYH has been the lower-risk option at 4.24%. 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 8.96% return vs 7.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IHE is cheaper with a 0.42% expense ratio, compared with 0.43% for IYH.

IHE has the higher dividend yield at 1.65%, compared with 1.30% for IYH.

IYH tracks Dow Jones U.S. Health Care Index, while IHE tracks Dow Jones U.S. Select Pharmaceuticals Index. Their fees differ too: 0.43% for IYH and 0.42% for IHE.

IHE currently has the higher Sharpe Ratio (2.36 vs 0.89), 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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