IYH vs. IYZ
IYH (iShares U.S. Healthcare ETF) and IYZ (iShares U.S. Telecommunications ETF) are both exchange-traded funds - IYH is a Health & Biotech Equities fund tracking the Dow Jones U.S. Health Care Index, while IYZ is a Communications Equities fund tracking the Dow Jones U.S. Select Telecommunications Index. Both are passively managed. Over the past 10 years, IYH returned 9.52%/yr vs 5.94%/yr for IYZ. A 0.54 correlation means they provide meaningful diversification when combined. IYH charges 0.43%/yr vs 0.42%/yr for IYZ.
Performance
IYH vs. IYZ - Performance Comparison
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Returns By Period
In the year-to-date period, IYH achieves a -0.65% return, which is significantly lower than IYZ's 29.57% return. Over the past 10 years, IYH has outperformed IYZ with an annualized return of 9.52%, while IYZ has yielded a comparatively lower 5.94% annualized return.
IYH
- 1D
- -0.20%
- 1M
- 4.56%
- YTD
- -0.65%
- 6M
- 0.07%
- 1Y
- 14.83%
- 3Y*
- 6.45%
- 5Y*
- 4.89%
- 10Y*
- 9.52%
IYZ
- 1D
- 1.27%
- 1M
- 0.83%
- YTD
- 29.57%
- 6M
- 32.60%
- 1Y
- 58.27%
- 3Y*
- 28.37%
- 5Y*
- 7.57%
- 10Y*
- 5.94%
IYH vs. IYZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYH iShares U.S. Healthcare ETF | -0.65% | 13.16% | 2.99% | 2.14% | -4.46% | 23.41% | 15.56% | 20.80% | 5.80% | 22.27% |
IYZ iShares U.S. Telecommunications ETF | 29.57% | 29.28% | 20.53% | 3.90% | -30.29% | 11.69% | 4.13% | 16.14% | -8.59% | -11.86% |
Correlation
The correlation between IYH and IYZ is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 16, 2000 | 0.54 |
Over the past year, the correlation between IYH and IYZ has dropped to 0.19 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
IYH vs. IYZ — Risk / Return Rank
IYH
IYZ
IYH vs. IYZ - 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. Telecommunications ETF (IYZ). 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.
| IYH | IYZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.08 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.52 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 6.54 | -5.20 |
| Martin ratioReturn relative to average drawdown | 3.18 | 25.99 | -22.81 |
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Drawdowns
IYH vs. IYZ - Drawdown Comparison
The maximum IYH drawdown since its inception was -43.12%, smaller than the maximum IYZ drawdown of -77.11%. Use the drawdown chart below to compare losses from any high point for IYH and IYZ.
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Drawdown Indicators
| IYH | IYZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.12% | -77.11% | +33.99% |
Max Drawdown (1Y)Largest decline over 1 year | -10.64% | -8.62% | -2.02% |
Max Drawdown (3Y)Largest decline over 3 years | -17.91% | -13.85% | -4.06% |
Max Drawdown (5Y)Largest decline over 5 years | -17.91% | -39.74% | +21.83% |
Max Drawdown (10Y)Largest decline over 10 years | -28.40% | -39.74% | +11.34% |
Current DrawdownCurrent decline from peak | -3.94% | -4.77% | +0.83% |
Average DrawdownAverage peak-to-trough decline | -8.96% | -40.10% | +31.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.46% | 2.17% | +2.29% |
Volatility
IYH vs. IYZ - Volatility Comparison
The current volatility for iShares U.S. Healthcare ETF (IYH) is 4.94%, while iShares U.S. Telecommunications ETF (IYZ) has a volatility of 8.76%. This indicates that IYH experiences smaller price fluctuations and is considered to be less risky than IYZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYH | IYZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 8.76% | -3.82% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 15.61% | -4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.10% | 18.65% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.96% | 18.88% | -3.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.74% | 19.30% | -2.56% |
IYH vs. IYZ - Expense Ratio Comparison
IYH has a 0.43% expense ratio, which is higher than IYZ's 0.42% expense ratio.
Dividends
IYH vs. IYZ - Dividend Comparison
IYH's dividend yield for the trailing twelve months is around 1.25%, less than IYZ's 1.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYH iShares U.S. Healthcare ETF | 1.25% | 1.19% | 1.25% | 1.18% | 1.10% | 0.94% | 1.16% | 1.14% | 1.95% | 1.10% | 1.29% | 2.02% |
IYZ iShares U.S. Telecommunications ETF | 1.53% | 2.04% | 1.94% | 2.27% | 2.55% | 2.51% | 2.60% | 2.36% | 2.15% | 3.54% | 2.27% | 1.98% |
Frequently Asked Questions
IYH and IYZ have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYZ has higher volatility (8.76%) compared to IYH (4.94%). In terms of maximum drawdown, IYH dropped -43.12% vs IYZ's -77.11%.
On 10-year performance, IYH leads with 9.52% vs 5.94% for IYZ. On fees, IYZ is cheaper at 0.42% per year. On volatility, IYH has been the lower-risk option at 4.94%. 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 9.52% return vs 5.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYZ is cheaper with a 0.42% expense ratio, compared with 0.43% for IYH.
IYZ has the higher dividend yield at 1.53%, compared with 1.25% for IYH.
IYH is categorized as Health & Biotech Equities, while IYZ is Communications Equities. IYH tracks Dow Jones U.S. Health Care Index, while IYZ tracks Dow Jones U.S. Select Telecommunications Index. Their fees differ too: 0.43% for IYH and 0.42% for IYZ.
IYZ currently has the higher Sharpe Ratio (3.02 vs 0.94), 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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