MEDX vs. IXJ

Last updated Jun 5, 2026

MEDX (Horizon Kinetics Medical ETF) and IXJ (iShares Global Healthcare ETF) are both Health & Biotech Equities funds. MEDX is actively managed, while IXJ is passively managed. Over the past 3 years, MEDX returned 6.55%/yr vs 5.38%/yr for IXJ. Their correlation of 0.81 suggests significant overlap in exposure. MEDX charges 0.85%/yr vs 0.46%/yr for IXJ.

Performance

MEDX vs. IXJ - Performance Comparison

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

Returns By Period

In the year-to-date period, MEDX achieves a 3.90% return, which is significantly higher than IXJ's -2.38% return.

MEDX

• 1D: 3.04%
• 1M: 5.53%
• YTD: 3.90%
• 6M: 3.58%
• 1Y: 32.14%
• 3Y*: 6.55%
• 5Y*: —
• 10Y*: —

IXJ

• 1D: 3.03%
• 1M: 2.97%
• YTD: -2.38%
• 6M: -1.24%
• 1Y: 12.07%
• 3Y*: 5.38%
• 5Y*: 4.65%
• 10Y*: 7.93%

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

MEDX vs. IXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MEDX Horizon Kinetics Medical ETF	3.90%	28.62%	-4.68%	-6.22%
IXJ iShares Global Healthcare ETF	-2.38%	14.99%	0.55%	4.19%

Correlation

The correlation between MEDX and IXJ is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Feb 1, 2023	0.81

The correlation between MEDX and IXJ has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

MEDX vs. IXJ - Sectors Allocation Comparison

Sectors	MEDX	IXJ
Healthcare	100.0%	98.9%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	0.5%
Energy	-	-
Financial Services	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

MEDX vs. IXJ — Risk / Return Rank

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

MEDX

MEDX Risk / Return Rank: 55
MEDX Sharpe Ratio Rank: 53
MEDX Sortino Ratio Rank: 59
MEDX Omega Ratio Rank: 50
MEDX Calmar Ratio Rank: 63
MEDX Martin Ratio Rank: 51

IXJ

IXJ Risk / Return Rank: 24
IXJ Sharpe Ratio Rank: 24
IXJ Sortino Ratio Rank: 25
IXJ Omega Ratio Rank: 23
IXJ Calmar Ratio Rank: 25
IXJ Martin Ratio Rank: 23

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. IXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Medical ETF (MEDX) and iShares Global Healthcare ETF (IXJ). 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.

	MEDX	IXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.78	0.82	+0.97
Sortino ratio: Return per unit of downside risk	2.77	1.33	+1.44
Omega ratio: Gain probability vs. loss probability	1.31	1.15	+0.16
Calmar ratio: Return relative to maximum drawdown	3.06	1.12	+1.94
Martin ratio: Return relative to average drawdown	8.51	2.73	+5.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MEDX vs. IXJ - Sharpe Ratio Comparison

The current MEDX Sharpe Ratio is 1.78, which is higher than the IXJ Sharpe Ratio of 0.82. The chart below compares the historical Sharpe Ratios of MEDX and IXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MEDX	IXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	0.82	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.33	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.43	-0.10

Drawdowns

MEDX vs. IXJ - Drawdown Comparison

The maximum MEDX drawdown since its inception was -23.10%, smaller than the maximum IXJ drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for MEDX and IXJ.

Drawdown Indicators

	MEDX	IXJ	Difference
Max Drawdown Largest peak-to-trough decline	-23.10%	-40.60%	+17.50%
Max Drawdown (1Y) Largest decline over 1 year	-10.54%	-10.78%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.10%	-18.14%	-4.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-27.35%	—
Current Drawdown Current decline from peak	-2.68%	-6.52%	+3.84%
Average Drawdown Average peak-to-trough decline	-6.72%	-6.92%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	4.43%	-0.64%

Volatility

MEDX vs. IXJ - Volatility Comparison

Horizon Kinetics Medical ETF (MEDX) has a higher volatility of 5.68% compared to iShares Global Healthcare ETF (IXJ) at 4.78%. This indicates that MEDX's price experiences larger fluctuations and is considered to be riskier than IXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEDX	IXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	4.78%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	13.41%	10.50%	+2.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.12%	14.85%	+3.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.04%	14.27%	+2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	15.70%	+1.34%

MEDX vs. IXJ - Expense Ratio Comparison

MEDX has a 0.85% expense ratio, which is higher than IXJ's 0.46% expense ratio.

Dividends

MEDX vs. IXJ - Dividend Comparison

MEDX's dividend yield for the trailing twelve months is around 1.19%, less than IXJ's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXJ iShares Global Healthcare ETF	1.43%	1.40%	1.50%	1.38%	1.17%	1.12%	1.27%	1.42%	2.11%	1.46%	1.73%	2.85%
MEDX Horizon Kinetics Medical ETF	1.19%	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

Can I hold both MEDX and IXJ in my portfolio?

MEDX and IXJ have a correlation of 0.84, 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 IXJ?

MEDX has higher volatility (5.68%) compared to IXJ (4.78%). In terms of maximum drawdown, MEDX dropped -23.10% vs IXJ's -40.60%.

Which ETF is better, MEDX or IXJ?

On 3-year performance, MEDX leads with 6.55% vs 5.38% for IXJ. On fees, IXJ is cheaper at 0.46% per year. On volatility, IXJ has been the lower-risk option at 4.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MEDX or IXJ?

Over the 3-year period, MEDX has performed better with a 6.55% return vs 5.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MEDX or IXJ?

IXJ is cheaper with a 0.46% expense ratio, compared with 0.85% for MEDX.

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

IXJ has the higher dividend yield at 1.43%, compared with 1.19% for MEDX.

What is the main difference between MEDX and IXJ?

They also come from different issuers: Horizon and iShares. Their fees differ too: 0.85% for MEDX and 0.46% for IXJ.

Which has better risk-adjusted returns?

MEDX currently has the higher Sharpe Ratio (1.78 vs 0.82), 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.