MHIG vs. BPRO

Last updated Aug 2, 2026

MHIG (Milliman Healthcare Inflation Guard ETF) and BPRO (Bitwise Proficio Currency Debasement ETF) are both exchange-traded funds - MHIG is a Multistrategy fund actively managed by Milliman, while BPRO is a Gold fund actively managed by Bitwise. Both are actively managed. Their 0.71 correlation means they have sometimes moved together and sometimes differently. MHIG charges 0.55%/yr vs 0.96%/yr for BPRO.

Performance

MHIG vs. BPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Milliman Healthcare Inflation Guard ETF (MHIG) and Bitwise Proficio Currency Debasement ETF (BPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MHIG

• 1D: -0.59%
• 1M: -1.16%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

BPRO

• 1D: -1.66%
• 1M: -1.89%
• 6M: -20.96%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BPRO Bitwise Proficio Currency Debasement ETF	$5.81K	$93.56K	$234.25K
MHIG Milliman Healthcare Inflation Guard ETF	$201.61	$339.29	$1.24K

MHIG vs. BPRO - Yearly Performance Comparison

	2026 (YTD)
MHIG Milliman Healthcare Inflation Guard ETF	-2.73%
BPRO Bitwise Proficio Currency Debasement ETF	-20.28%

Correlation

The correlation between MHIG and BPRO is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026	0.71

Return for Risk

MHIG vs. BPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Milliman Healthcare Inflation Guard ETF (MHIG) and Bitwise Proficio Currency Debasement ETF (BPRO). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

MHIG vs. BPRO - Drawdown Comparison

The maximum MHIG drawdown since its inception was -3.06%, smaller than the maximum BPRO drawdown of -36.57%. Use the drawdown chart below to compare losses from any high point for MHIG and BPRO.

Drawdown Indicators

	MHIG	BPRO	Difference
Max Drawdown Largest peak-to-trough decline	-3.06%	-36.57%	+33.51%
Current Drawdown Current decline from peak	-2.73%	-34.20%	+31.47%
Average Drawdown Average peak-to-trough decline	-1.97%	-22.86%	+20.89%

Volatility

Volatility by Period

	MHIG	BPRO	Difference
Volatility (1Y) Calculated over the trailing 1-year period	7.39%	42.63%	-35.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.39%	42.63%	-35.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.39%	42.63%	-35.24%

MHIG vs. BPRO - Expense Ratio Comparison

MHIG has a 0.55% expense ratio, which is lower than BPRO's 0.96% expense ratio.

Dividends

MHIG vs. BPRO - Dividend Comparison

Neither MHIG nor BPRO has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MHIG and BPRO in my portfolio?

MHIG and BPRO have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MHIG or BPRO?

On fees, MHIG is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MHIG or BPRO?

MHIG is cheaper with a 0.55% expense ratio, compared with 0.96% for BPRO.

Which ETF pays a higher dividend yield, MHIG or BPRO?

MHIG and BPRO have nearly identical dividend yields, around 0.00%.

What is the main difference between MHIG and BPRO?

MHIG is categorized as Multistrategy, while BPRO is Gold. They also come from different issuers: Milliman and Bitwise. Their fees differ too: 0.55% for MHIG and 0.96% for BPRO.