MEDX vs. IHI
MEDX (Horizon Kinetics Medical ETF) and IHI (iShares U.S. Medical Devices ETF) are both Health & Biotech Equities funds. MEDX is actively managed, while IHI is passively managed. Over the past 3 years, MEDX returned 8.09%/yr vs 0.55%/yr for IHI. Their 0.49 correlation means their historical movements had little consistent relationship. MEDX charges 0.85%/yr vs 0.38%/yr for IHI.
Performance
MEDX vs. IHI - Performance Comparison
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Returns By Period
In the year-to-date period, MEDX achieves a 4.29% return, which is significantly higher than IHI's -12.58% return.
MEDX
- 1D
- -0.84%
- 1M
- -7.78%
- 6M
- 2.28%
- YTD
- 4.29%
- 1Y
- 25.87%
- 3Y*
- 8.09%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.46%
IHI
- 1D
- 3.24%
- 1M
- 4.49%
- 6M
- -8.90%
- YTD
- -12.58%
- 1Y
- -8.74%
- 3Y*
- 0.55%
- 5Y*
- -2.67%
- 10Y*
- 8.87%
- ALL TIME*
- 10.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $149.25M | $165.21M | $149.27M | |
| $115.83K | $139.65K | $78.54K |
MEDX vs. IHI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MEDX Horizon Kinetics Medical ETF | 4.29% | 28.62% | -4.68% | -5.77% |
IHI iShares U.S. Medical Devices ETF | -12.58% | 6.88% | 8.62% | 1.61% |
Correlation
The correlation between MEDX and IHI is 0.40, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.40 |
Correlation (3Y) Balances recent behavior with more history. | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2023 | 0.49 |
MEDX vs. IHI - Sectors Allocation Comparison
Sectors
MEDX
IHI
Healthcare
Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Financial Services
-
-
Industrials
-
Real Estate
-
-
Technology
-
Utilities
-
-
Healthcare
MEDX
IHI
Basic Materials
MEDX
-
IHI
-
Communication Services
MEDX
-
IHI
-
Consumer Cyclical
MEDX
-
IHI
-
Consumer Defensive
MEDX
-
IHI
-
Energy
MEDX
-
IHI
-
Financial Services
MEDX
-
IHI
-
Industrials
MEDX
-
IHI
Real Estate
MEDX
-
IHI
-
Technology
MEDX
-
IHI
Utilities
MEDX
-
IHI
-
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Return for Risk
MEDX vs. IHI — Risk / Return Rank
MEDX
IHI
MEDX vs. IHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Medical ETF (MEDX) and iShares U.S. Medical Devices ETF (IHI). 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 | IHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.82 | ||
| Sortino ratioReturn per unit of downside risk | +2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.94 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | -0.34 | +2.80 |
| Martin ratioReturn relative to average drawdown | 6.22 | -0.66 | +6.88 |
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Drawdowns
MEDX vs. IHI - Drawdown Comparison
The maximum MEDX drawdown since its inception was -23.10%, smaller than the maximum IHI drawdown of -49.65%. Use the drawdown chart below to compare losses from any high point for MEDX and IHI.
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Drawdown Indicators
| MEDX | IHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.10% | -49.65% | +26.55% |
Max Drawdown (1Y)Largest decline over 1 year | -10.54% | -26.11% | +15.57% |
Max Drawdown (3Y)Largest decline over 3 years | -23.10% | -26.64% | +3.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.25% | — |
Current DrawdownCurrent decline from peak | -8.13% | -17.45% | +9.32% |
Average DrawdownAverage peak-to-trough decline | -6.58% | -8.43% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.17% | 13.30% | -9.13% |
Volatility
MEDX vs. IHI - Volatility Comparison
The current volatility for Horizon Kinetics Medical ETF (MEDX) is 5.40%, while iShares U.S. Medical Devices ETF (IHI) has a volatility of 9.39%. This indicates that MEDX experiences smaller price fluctuations and is considered to be less risky than IHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MEDX | IHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.40% | 9.39% | -3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 16.87% | -2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.89% | 20.02% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.21% | 19.61% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.21% | 20.05% | -2.84% |
MEDX vs. IHI - Expense Ratio Comparison
MEDX has a 0.85% expense ratio, which is higher than IHI's 0.38% expense ratio.
Dividends
MEDX vs. IHI - Dividend Comparison
MEDX's dividend yield for the trailing twelve months is around 1.18%, more than IHI's 0.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.45% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
MEDX Horizon Kinetics Medical ETF | 1.18% | 1.23% | 1.92% | 4.94% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MEDX and IHI have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IHI has higher volatility (9.39%) compared to MEDX (5.40%). In terms of maximum drawdown, MEDX dropped -23.10% vs IHI's -49.65%.
On 3-year performance, MEDX leads with 8.09% vs 0.55% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, MEDX has been the lower-risk option at 5.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, MEDX has performed better with a 8.09% return vs 0.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IHI is cheaper with a 0.38% expense ratio, compared with 0.85% for MEDX.
MEDX has the higher dividend yield at 1.18%, compared with 0.45% for IHI.
They also come from different issuers: Horizon and iShares. Their fees differ too: 0.85% for MEDX and 0.38% for IHI.
MEDX currently has the higher Sharpe Ratio (1.38 vs -0.44), 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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