MEDX vs. PBPH
MEDX (Horizon Kinetics Medical ETF) and PBPH (Portfolio Building Block World Pharma and Biotech Index ETF) are both Health & Biotech Equities funds. MEDX is actively managed, while PBPH is passively managed. Their correlation of 0.93 suggests significant overlap in exposure. MEDX charges 0.85%/yr vs 0.13%/yr for PBPH.
Performance
MEDX vs. PBPH - Performance Comparison
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Returns By Period
In the year-to-date period, MEDX achieves a 3.90% return, which is significantly higher than PBPH's 1.75% return.
MEDX
- 1D
- 3.04%
- 1M
- 5.53%
- YTD
- 3.90%
- 6M
- 3.58%
- 1Y
- 32.14%
- 3Y*
- 6.55%
- 5Y*
- —
- 10Y*
- —
PBPH
- 1D
- 2.92%
- 1M
- 2.45%
- YTD
- 1.75%
- 6M
- 3.89%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MEDX vs. PBPH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MEDX Horizon Kinetics Medical ETF | 3.90% | -1.05% |
PBPH Portfolio Building Block World Pharma and Biotech Index ETF | 1.75% | 0.76% |
Correlation
The correlation between MEDX and PBPH is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025 | 0.93 |
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Return for Risk
MEDX vs. PBPH — Risk / Return Rank
MEDX
PBPH
MEDX vs. PBPH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Medical ETF (MEDX) and Portfolio Building Block World Pharma and Biotech Index ETF (PBPH). 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 | PBPH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.06 | — | — |
| Martin ratioReturn relative to average drawdown | 8.51 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MEDX | PBPH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.29 | +0.03 |
Drawdowns
MEDX vs. PBPH - Drawdown Comparison
The maximum MEDX drawdown since its inception was -23.10%, which is greater than PBPH's maximum drawdown of -11.10%. Use the drawdown chart below to compare losses from any high point for MEDX and PBPH.
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Drawdown Indicators
| MEDX | PBPH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.10% | -11.10% | -12.00% |
Max Drawdown (1Y)Largest decline over 1 year | -10.54% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -23.10% | — | — |
Current DrawdownCurrent decline from peak | -2.68% | -6.03% | +3.35% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -4.25% | -2.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | — | — |
Volatility
MEDX vs. PBPH - Volatility Comparison
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Volatility by Period
| MEDX | PBPH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.68% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.41% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.12% | 17.20% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 17.20% | -0.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 17.20% | -0.16% |
MEDX vs. PBPH - Expense Ratio Comparison
MEDX has a 0.85% expense ratio, which is higher than PBPH's 0.13% expense ratio.
Dividends
MEDX vs. PBPH - Dividend Comparison
MEDX's dividend yield for the trailing twelve months is around 1.19%, more than PBPH's 0.09% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MEDX Horizon Kinetics Medical ETF | 1.19% | 1.23% | 1.92% | 4.94% |
PBPH Portfolio Building Block World Pharma and Biotech Index ETF | 0.09% | 0.09% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, MEDX and PBPH move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
On fees, PBPH is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBPH is cheaper with a 0.13% expense ratio, compared with 0.85% for MEDX.
MEDX has the higher dividend yield at 1.19%, compared with 0.09% for PBPH.
They also come from different issuers: Horizon and Portfolio Building Block. Their fees differ too: 0.85% for MEDX and 0.13% for PBPH.
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