MHIG vs. MHIP

Last updated Jul 8, 2026

MHIG (Milliman Healthcare Inflation Guard ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both exchange-traded funds - MHIG is a Multistrategy fund actively managed by Milliman, while MHIP is a Health & Biotech Equities fund actively managed by Milliman. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. Both charge a 0.55% expense ratio.

Performance

MHIG vs. MHIP - Performance Comparison

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

Returns By Period

MHIG

• 1D: -0.15%
• 1M: 0.36%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MHIP

• 1D: 0.26%
• 1M: 2.51%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MHIG vs. MHIP - Yearly Performance Comparison

	2026 (YTD)
MHIG Milliman Healthcare Inflation Guard ETF	-1.62%
MHIP Milliman Healthcare Inflation Plus ETF	1.64%

Correlation

The correlation between MHIG and MHIP is 0.89, 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 Apr 21, 2026	0.89

Return for Risk

MHIG vs. MHIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Milliman Healthcare Inflation Guard ETF (MHIG) and Milliman Healthcare Inflation Plus ETF (MHIP). 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. MHIP - Drawdown Comparison

The maximum MHIG drawdown since its inception was -3.06%, roughly equal to the maximum MHIP drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for MHIG and MHIP.

Drawdown Indicators

	MHIG	MHIP	Difference
Max Drawdown Largest peak-to-trough decline	-3.06%	-3.09%	+0.03%
Current Drawdown Current decline from peak	-1.62%	0.00%	-1.62%
Average Drawdown Average peak-to-trough decline	-1.80%	-1.28%	-0.52%

Volatility

Volatility by Period

	MHIG	MHIP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	8.18%	11.86%	-3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.18%	11.86%	-3.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.18%	11.86%	-3.68%

MHIG vs. MHIP - Expense Ratio Comparison

Both MHIG and MHIP have an expense ratio of 0.55%.

Dividends

MHIG vs. MHIP - Dividend Comparison

Neither MHIG nor MHIP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both MHIG and MHIP in my portfolio?

MHIG and MHIP have a correlation of 0.89, 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 MHIP?

Both ETFs have the same 0.55% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MHIG or MHIP?

MHIG and MHIP have the same expense ratio: 0.55% per year.

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

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

What is the main difference between MHIG and MHIP?

MHIG is categorized as Multistrategy, while MHIP is Health & Biotech Equities.