JDOC vs. IHE

Last updated Jun 24, 2026

JDOC (Jpmorgan Healthcare Leaders ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds. JDOC is actively managed, while IHE is passively managed. Over the past year, JDOC returned 17.29% vs 46.87% for IHE. Their correlation of 0.81 suggests significant overlap in exposure. JDOC charges 0.65%/yr vs 0.42%/yr for IHE.

Performance

JDOC vs. IHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Jpmorgan Healthcare Leaders ETF (JDOC) and iShares U.S. Pharmaceuticals ETF (IHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JDOC achieves a -0.08% return, which is significantly lower than IHE's 11.65% return.

JDOC

• 1D: 1.11%
• 1M: 2.00%
• YTD: -0.08%
• 6M: -0.49%
• 1Y: 17.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IHE

• 1D: 1.60%
• 1M: 3.16%
• YTD: 11.65%
• 6M: 10.97%
• 1Y: 46.87%
• 3Y*: 18.43%
• 5Y*: 10.55%
• 10Y*: 8.99%

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

JDOC vs. IHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JDOC Jpmorgan Healthcare Leaders ETF	-0.08%	15.36%	-1.04%	7.92%
IHE iShares U.S. Pharmaceuticals ETF	11.65%	31.69%	8.13%	11.03%

Correlation

The correlation between JDOC and IHE is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Nov 2, 2023	0.81

The correlation between JDOC and IHE has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

JDOC vs. IHE - Sectors Allocation Comparison

Sectors	JDOC	IHE
Healthcare	100.0%	100.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

JDOC vs. IHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

JDOC

JDOC Risk / Return Rank: 36
JDOC Sharpe Ratio Rank: 36
JDOC Sortino Ratio Rank: 39
JDOC Omega Ratio Rank: 34
JDOC Calmar Ratio Rank: 38
JDOC Martin Ratio Rank: 33

IHE

IHE Risk / Return Rank: 87
IHE Sharpe Ratio Rank: 88
IHE Sortino Ratio Rank: 90
IHE Omega Ratio Rank: 82
IHE Calmar Ratio Rank: 91
IHE Martin Ratio Rank: 85

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.

JDOC vs. IHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Jpmorgan Healthcare Leaders ETF (JDOC) 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.

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.

	JDOC	IHE	Difference
Sharpe ratio: Return per unit of total volatility	1.21	2.74	-1.52
Sortino ratio: Return per unit of downside risk	1.92	3.95	-2.03
Omega ratio: Gain probability vs. loss probability	1.22	1.46	-0.25
Calmar ratio: Return relative to maximum drawdown	1.79	5.56	-3.77
Martin ratio: Return relative to average drawdown	4.54	17.09	-12.55

JDOC vs. IHE - Sharpe Ratio Comparison

The current JDOC Sharpe Ratio is 1.21, which is lower than the IHE Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of JDOC 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.

Drawdowns

JDOC vs. IHE - Drawdown Comparison

The maximum JDOC drawdown since its inception was -20.87%, smaller than the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for JDOC and IHE.

Drawdown Indicators

	JDOC	IHE	Difference
Max Drawdown Largest peak-to-trough decline	-20.87%	-38.20%	+17.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-8.47%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.59%	—
Current Drawdown Current decline from peak	-3.20%	-0.70%	-2.50%
Average Drawdown Average peak-to-trough decline	-6.93%	-7.90%	+0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	2.75%	+1.06%

Volatility

JDOC vs. IHE - Volatility Comparison

Jpmorgan Healthcare Leaders ETF (JDOC) and iShares U.S. Pharmaceuticals ETF (IHE) have volatilities of 5.26% and 5.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JDOC	IHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.27%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	12.68%	-2.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.35%	17.22%	-2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.52%	16.28%	-1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.52%	18.05%	-3.53%

JDOC vs. IHE - Expense Ratio Comparison

JDOC has a 0.65% expense ratio, which is higher than IHE's 0.42% expense ratio.

Dividends

JDOC vs. IHE - Dividend Comparison

JDOC's dividend yield for the trailing twelve months is around 0.89%, less than IHE's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHE iShares U.S. Pharmaceuticals ETF	1.56%	1.76%	1.73%	1.39%	2.01%	1.49%	1.19%	1.40%	1.25%	1.36%	0.92%	1.93%
JDOC Jpmorgan Healthcare Leaders ETF	0.89%	0.89%	5.57%	0.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JDOC and IHE in my portfolio?

JDOC and IHE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JDOC or IHE?

IHE has higher volatility (5.27%) compared to JDOC (5.26%). In terms of maximum drawdown, JDOC dropped -20.87% vs IHE's -38.20%.

Which ETF is better, JDOC or IHE?

On 1-year performance, IHE leads with 46.87% vs 17.29% for JDOC. On fees, IHE is cheaper at 0.42% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JDOC or IHE?

Over the 1-year period, IHE has performed better with a 46.87% return vs 17.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JDOC or IHE?

IHE is cheaper with a 0.42% expense ratio, compared with 0.65% for JDOC.

Which ETF pays a higher dividend yield, JDOC or IHE?

IHE has the higher dividend yield at 1.56%, compared with 0.89% for JDOC.

What is the main difference between JDOC and IHE?

They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.65% for JDOC and 0.42% for IHE.

Which has better risk-adjusted returns?

IHE currently has the higher Sharpe Ratio (2.74 vs 1.21), 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.