MEDX vs. GSKH

Last updated Jun 24, 2026

MEDX (Horizon Kinetics Medical ETF) and GSKH (GSK plc ADRhedged ETF) are both Health & Biotech Equities funds. MEDX is actively managed, while GSKH is passively managed. Over the past year, MEDX returned 32.94% vs 42.66% for GSKH. A 0.57 correlation means they provide meaningful diversification when combined. MEDX charges 0.85%/yr vs 0.19%/yr for GSKH.

Performance

MEDX vs. GSKH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Kinetics Medical ETF (MEDX) and GSK plc ADRhedged ETF (GSKH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEDX achieves a 4.95% return, which is significantly lower than GSKH's 9.90% return.

MEDX

• 1D: 1.32%
• 1M: 3.35%
• YTD: 4.95%
• 6M: 4.50%
• 1Y: 32.94%
• 3Y*: 7.01%
• 5Y*: —
• 10Y*: —

GSKH

• 1D: 2.87%
• 1M: 2.94%
• YTD: 9.90%
• 6M: 10.56%
• 1Y: 42.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MEDX vs. GSKH - Yearly Performance Comparison

	2026 (YTD)	2025
MEDX Horizon Kinetics Medical ETF	4.95%	27.45%
GSKH GSK plc ADRhedged ETF	9.90%	36.51%

Correlation

The correlation between MEDX and GSKH is 0.58, 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	0.58
Correlation (All Time) Calculated using the full available price history since Jan 7, 2025	0.57

The correlation between MEDX and GSKH has been stable across timeframes, ranging from 0.57 to 0.58 - a consistent structural relationship.

Return for Risk

MEDX vs. GSKH — Risk / Return Rank

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

MEDX

MEDX Risk / Return Rank: 60
MEDX Sharpe Ratio Rank: 59
MEDX Sortino Ratio Rank: 67
MEDX Omega Ratio Rank: 54
MEDX Calmar Ratio Rank: 67
MEDX Martin Ratio Rank: 53

GSKH

GSKH Risk / Return Rank: 51
GSKH Sharpe Ratio Rank: 53
GSKH Sortino Ratio Rank: 56
GSKH Omega Ratio Rank: 54
GSKH Calmar Ratio Rank: 51
GSKH Martin Ratio Rank: 41

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.

MEDX vs. GSKH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Medical ETF (MEDX) and GSK plc ADRhedged ETF (GSKH). 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.

	MEDX	GSKH	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.64	+0.18
Sortino ratio: Return per unit of downside risk	2.83	2.43	+0.41
Omega ratio: Gain probability vs. loss probability	1.31	1.30	+0.01
Calmar ratio: Return relative to maximum drawdown	3.14	2.31	+0.83
Martin ratio: Return relative to average drawdown	8.64	6.06	+2.58

MEDX vs. GSKH - Sharpe Ratio Comparison

The current MEDX Sharpe Ratio is 1.82, which is comparable to the GSKH Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of MEDX and GSKH, 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

MEDX vs. GSKH - Drawdown Comparison

The maximum MEDX drawdown since its inception was -23.10%, which is greater than GSKH's maximum drawdown of -18.54%. Use the drawdown chart below to compare losses from any high point for MEDX and GSKH.

Drawdown Indicators

	MEDX	GSKH	Difference
Max Drawdown Largest peak-to-trough decline	-23.10%	-18.54%	-4.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.54%	-18.54%	+8.00%
Max Drawdown (3Y) Largest decline over 3 years	-23.10%	—	—
Current Drawdown Current decline from peak	-1.70%	-11.62%	+9.92%
Average Drawdown Average peak-to-trough decline	-6.66%	-5.86%	-0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.82%	7.06%	-3.24%

Volatility

MEDX vs. GSKH - Volatility Comparison

The current volatility for Horizon Kinetics Medical ETF (MEDX) is 5.51%, while GSK plc ADRhedged ETF (GSKH) has a volatility of 6.89%. This indicates that MEDX experiences smaller price fluctuations and is considered to be less risky than GSKH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEDX	GSKH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.51%	6.89%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	13.43%	18.67%	-5.24%
Volatility (1Y) Calculated over the trailing 1-year period	18.15%	26.14%	-7.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.00%	26.95%	-9.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	26.95%	-9.95%

MEDX vs. GSKH - Expense Ratio Comparison

MEDX has a 0.85% expense ratio, which is higher than GSKH's 0.19% expense ratio.

Dividends

MEDX vs. GSKH - Dividend Comparison

MEDX's dividend yield for the trailing twelve months is around 1.17%, less than GSKH's 2.82% yield.

Position	TTM	2025	2024	2023
GSKH GSK plc ADRhedged ETF	2.82%	1.15%	0.00%	0.00%
MEDX Horizon Kinetics Medical ETF	1.17%	1.23%	1.92%	4.94%

Frequently Asked Questions

Can I hold both MEDX and GSKH in my portfolio?

MEDX and GSKH have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEDX or GSKH?

GSKH has higher volatility (6.89%) compared to MEDX (5.51%). In terms of maximum drawdown, MEDX dropped -23.10% vs GSKH's -18.54%.

Which ETF is better, MEDX or GSKH?

On 1-year performance, GSKH leads with 42.66% vs 32.94% for MEDX. On fees, GSKH is cheaper at 0.19% per year. On volatility, MEDX has been the lower-risk option at 5.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEDX or GSKH?

Over the 1-year period, GSKH has performed better with a 42.66% return vs 32.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEDX or GSKH?

GSKH is cheaper with a 0.19% expense ratio, compared with 0.85% for MEDX.

Which ETF pays a higher dividend yield, MEDX or GSKH?

GSKH has the higher dividend yield at 2.82%, compared with 1.17% for MEDX.

What is the main difference between MEDX and GSKH?

They also come from different issuers: Horizon and ADRhedged. Their fees differ too: 0.85% for MEDX and 0.19% for GSKH.

Which has better risk-adjusted returns?

MEDX currently has the higher Sharpe Ratio (1.82 vs 1.64), 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.