MHIP vs. IHI
MHIP (Milliman Healthcare Inflation Plus ETF) and IHI (iShares U.S. Medical Devices ETF) are both Health & Biotech Equities funds. MHIP is actively managed, while IHI is passively managed. A 0.66 correlation means they provide meaningful diversification when combined. MHIP charges 0.55%/yr vs 0.38%/yr for IHI.
Performance
MHIP vs. IHI - Performance Comparison
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Returns By Period
MHIP
- 1D
- 0.60%
- 1M
- 0.71%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IHI
- 1D
- 4.69%
- 1M
- 4.59%
- 6M
- -16.18%
- YTD
- -15.82%
- 1Y
- -13.79%
- 3Y*
- -2.13%
- 5Y*
- -2.62%
- 10Y*
- 8.80%
MHIP vs. IHI - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
MHIP Milliman Healthcare Inflation Plus ETF | 0.14% |
IHI iShares U.S. Medical Devices ETF | -2.94% |
Correlation
The correlation between MHIP and IHI is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.66 |
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Return for Risk
MHIP vs. IHI — Risk / Return Rank
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IHI
MHIP vs. IHI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Milliman Healthcare Inflation Plus ETF (MHIP) 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.
| MHIP | IHI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 0.89 | — |
| Calmar ratioReturn relative to maximum drawdown | — | -0.53 | — |
| Martin ratioReturn relative to average drawdown | — | -1.10 | — |
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Drawdowns
MHIP vs. IHI - Drawdown Comparison
The maximum MHIP drawdown since its inception was -3.09%, smaller than the maximum IHI drawdown of -49.65%. Use the drawdown chart below to compare losses from any high point for MHIP and IHI.
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Drawdown Indicators
| MHIP | IHI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.09% | -49.65% | +46.56% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.11% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -26.64% | — |
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 | -1.47% | -20.51% | +19.04% |
Average DrawdownAverage peak-to-trough decline | -1.28% | -8.40% | +7.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 12.56% | — |
Volatility
MHIP vs. IHI - Volatility Comparison
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Volatility by Period
| MHIP | IHI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 9.55% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 15.84% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.54% | 19.29% | -7.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.54% | 19.44% | -7.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.54% | 19.95% | -8.41% |
MHIP vs. IHI - Expense Ratio Comparison
MHIP has a 0.55% expense ratio, which is higher than IHI's 0.38% expense ratio.
Dividends
MHIP vs. IHI - Dividend Comparison
MHIP has not paid dividends to shareholders, while IHI's dividend yield for the trailing twelve months is around 0.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | 0.46% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MHIP and IHI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IHI is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IHI is cheaper with a 0.38% expense ratio, compared with 0.55% for MHIP.
IHI has the higher dividend yield at 0.46%, compared with 0.00% for MHIP.
They also come from different issuers: Milliman and iShares. Their fees differ too: 0.55% for MHIP and 0.38% for IHI.
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