MHIP vs. UNHW

Last updated Jul 8, 2026

MHIP (Milliman Healthcare Inflation Plus ETF) and UNHW (Roundhill UNH WeeklyPay ETF) are both exchange-traded funds - MHIP is a Health & Biotech Equities fund actively managed by Milliman, while UNHW is a Leveraged Equities fund actively managed by Roundhill Investments. Both are actively managed. At a 0.18 correlation, their price movements are largely independent. MHIP charges 0.55%/yr vs 0.99%/yr for UNHW.

Performance

MHIP vs. UNHW - Performance Comparison

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

Returns By Period

MHIP

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

UNHW

• 1D: 2.92%
• 1M: 8.37%
• 6M: 25.55%
• YTD: 33.96%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MHIP vs. UNHW - Yearly Performance Comparison

	2026 (YTD)
MHIP Milliman Healthcare Inflation Plus ETF	1.64%
UNHW Roundhill UNH WeeklyPay ETF	39.25%

Correlation

The correlation between MHIP and UNHW is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026	0.18

Return for Risk

MHIP vs. UNHW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Milliman Healthcare Inflation Plus ETF (MHIP) and Roundhill UNH WeeklyPay ETF (UNHW). 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

MHIP vs. UNHW - Drawdown Comparison

The maximum MHIP drawdown since its inception was -3.09%, smaller than the maximum UNHW drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for MHIP and UNHW.

Drawdown Indicators

	MHIP	UNHW	Difference
Max Drawdown Largest peak-to-trough decline	-3.09%	-32.28%	+29.19%
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-1.28%	-10.71%	+9.43%

Volatility

Volatility by Period

	MHIP	UNHW	Difference
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	47.98%	-36.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.86%	47.98%	-36.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.86%	47.98%	-36.12%

MHIP vs. UNHW - Expense Ratio Comparison

MHIP has a 0.55% expense ratio, which is lower than UNHW's 0.99% expense ratio.

Dividends

MHIP vs. UNHW - Dividend Comparison

MHIP has not paid dividends to shareholders, while UNHW's dividend yield for the trailing twelve months is around 18.79%.

Position	TTM	2025
MHIP Milliman Healthcare Inflation Plus ETF	0.00%	0.00%
UNHW Roundhill UNH WeeklyPay ETF	18.79%	2.81%

Frequently Asked Questions

Can I hold both MHIP and UNHW in my portfolio?

MHIP and UNHW have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MHIP or UNHW?

On fees, MHIP 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, MHIP or UNHW?

MHIP is cheaper with a 0.55% expense ratio, compared with 0.99% for UNHW.

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

UNHW has the higher dividend yield at 18.79%, compared with 0.00% for MHIP.

What is the main difference between MHIP and UNHW?

MHIP is categorized as Health & Biotech Equities, while UNHW is Leveraged Equities. They also come from different issuers: Milliman and Roundhill Investments. Their fees differ too: 0.55% for MHIP and 0.99% for UNHW.