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OZEM vs. IHE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

OZEM vs. IHE

Last updated Jun 4, 2026

OZEM (Roundhill Glp-1 & Weight Loss ETF) and IHE (iShares U.S. Pharmaceuticals ETF) are both Health & Biotech Equities funds. OZEM is actively managed, while IHE is passively managed. Over the past year, OZEM returned 21.16% vs 40.15% for IHE. A 0.68 correlation means they provide meaningful diversification when combined. OZEM charges 0.59%/yr vs 0.42%/yr for IHE.

Performance

OZEM vs. IHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Glp-1 & Weight Loss ETF (OZEM) and iShares U.S. Pharmaceuticals ETF (IHE). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, OZEM achieves a -11.95% return, which is significantly lower than IHE's 6.47% return.

OZEM

1D
-0.73%
1M
-4.02%
YTD
-11.95%
6M
-5.58%
1Y
21.16%
3Y*
—
5Y*
—
10Y*
—

IHE

1D
1.16%
1M
1.80%
YTD
6.47%
6M
8.51%
1Y
40.15%
3Y*
17.47%
5Y*
9.98%
10Y*
7.81%
*Multi-year figures are annualized to reflect compound growth (CAGR)

OZEM vs. IHE - Yearly Performance Comparison

2026 (YTD)20252024
OZEM
Roundhill Glp-1 & Weight Loss ETF		-11.95%41.87%-3.78%
IHE
iShares U.S. Pharmaceuticals ETF		6.47%31.69%0.28%

Correlation

The correlation between OZEM and IHE is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.70

Correlation (All Time)
Calculated using the full available price history since May 22, 2024

0.68

The correlation between OZEM and IHE has been stable across timeframes, ranging from 0.68 to 0.70 - a consistent structural relationship.

OZEM vs. IHE - Sectors Allocation Comparison

Sectors
OZEM
IHE

Healthcare

100.0%
100.0%

Financial Services

0.1%

-

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Healthcare

OZEM
100.0%
IHE
100.0%

Financial Services

OZEM
0.1%
IHE

-

Basic Materials

OZEM

-

IHE

-

Communication Services

OZEM

-

IHE

-

Consumer Cyclical

OZEM

-

IHE

-

Consumer Defensive

OZEM

-

IHE

-

Energy

OZEM

-

IHE

-

Industrials

OZEM

-

IHE

-

Real Estate

OZEM

-

IHE

-

Technology

OZEM

-

IHE

-

Utilities

OZEM

-

IHE

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Roundhill Glp-1 & Weight Loss ETF

iShares U.S. Pharmaceuticals ETF

Often compared with OZEM:
OZEM vs. HRTSOZEM vs. MGVOZEM vs. ^GSPCOZEM vs. VHTOZEM vs. WMTOZEM vs. VOOOZEM vs. SMH
Often compared with IHE:
IHE vs. PPHIHE vs. XPHIHE vs. XLVIHE vs. VYMIHE vs. PJPIHE vs. IAKIHE vs. BBP

Return for Risk

OZEM vs. IHE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
OZEM
OZEM Risk / Return Rank: 2323
Overall Rank
OZEM Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
OZEM Sortino Ratio Rank: 2525
Sortino Ratio Rank
OZEM Omega Ratio Rank: 2424
Omega Ratio Rank
OZEM Calmar Ratio Rank: 2424
Calmar Ratio Rank
OZEM Martin Ratio Rank: 2020
Martin Ratio Rank
IHE
IHE Risk / Return Rank: 7474
Overall Rank
IHE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
IHE Sortino Ratio Rank: 7575
Sortino Ratio Rank
IHE Omega Ratio Rank: 6565
Omega Ratio Rank
IHE Calmar Ratio Rank: 8585
Calmar Ratio Rank
IHE Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OZEM vs. IHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Glp-1 & Weight Loss ETF (OZEM) and iShares U.S. Pharmaceuticals ETF (IHE). 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.

OZEMIHEDifference
Sharpe ratioReturn per unit of total volatility
0.87
2.36

-1.49

Sortino ratioReturn per unit of downside risk
1.34
3.43

-2.09

Omega ratioGain probability vs. loss probability

1.16

1.40

-0.24

Calmar ratioReturn relative to maximum drawdown

1.11

4.76

-3.65

Martin ratioReturn relative to average drawdown

2.30

14.35

-12.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OZEM vs. IHE - Sharpe Ratio Comparison

The current OZEM Sharpe Ratio is 0.87, which is lower than the IHE Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of OZEM and IHE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

OZEMIHEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.87

2.36

-1.49

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.62

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.43

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.51

-0.12

Drawdowns

OZEM vs. IHE - Drawdown Comparison

The maximum OZEM drawdown since its inception was -28.65%, smaller than the maximum IHE drawdown of -38.20%. Use the drawdown chart below to compare losses from any high point for OZEM and IHE.

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Drawdown Indicators

OZEMIHEDifference

Max Drawdown

Largest peak-to-trough decline

-28.65%

-38.20%

+9.55%

Max Drawdown (1Y)

Largest decline over 1 year

-19.16%

-8.47%

-10.69%

Max Drawdown (3Y)

Largest decline over 3 years

—

-15.92%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.03%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-29.59%

—

Current Drawdown

Current decline from peak

-18.74%

-2.80%

-15.94%

Average Drawdown

Average peak-to-trough decline

-8.90%

-7.92%

-0.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.22%

2.81%

+6.41%

Volatility

OZEM vs. IHE - Volatility Comparison

Roundhill Glp-1 & Weight Loss ETF (OZEM) and iShares U.S. Pharmaceuticals ETF (IHE) have volatilities of 5.67% and 5.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

OZEMIHEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.67%

5.53%

+0.14%

Volatility (6M)

Calculated over the trailing 6-month period

17.15%

12.48%

+4.67%

Volatility (1Y)

Calculated over the trailing 1-year period

24.46%

17.07%

+7.39%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.04%

16.24%

+8.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.04%

18.05%

+6.99%

OZEM vs. IHE - Expense Ratio Comparison

OZEM has a 0.59% expense ratio, which is higher than IHE's 0.42% expense ratio.

Dividends

OZEM vs. IHE - Dividend Comparison

OZEM's dividend yield for the trailing twelve months is around 1.36%, less than IHE's 1.65% yield.

PositionTTM20252024202320222021202020192018201720162015
IHE
iShares U.S. Pharmaceuticals ETF		1.65%1.76%1.73%1.39%2.01%1.49%1.19%1.40%1.25%1.36%0.92%1.93%
OZEM
Roundhill Glp-1 & Weight Loss ETF		1.36%1.20%0.22%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

OZEM and IHE have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

OZEM has higher volatility (5.67%) compared to IHE (5.53%). In terms of maximum drawdown, OZEM dropped -28.65% vs IHE's -38.20%.

On 1-year performance, IHE leads with 40.15% vs 21.16% for OZEM. On fees, IHE is cheaper at 0.42% per year. On volatility, IHE has been the lower-risk option at 5.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 1-year period, IHE has performed better with a 40.15% return vs 21.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IHE is cheaper with a 0.42% expense ratio, compared with 0.59% for OZEM.

IHE has the higher dividend yield at 1.65%, compared with 1.36% for OZEM.

They also come from different issuers: Roundhill and iShares. Their fees differ too: 0.59% for OZEM and 0.42% for IHE.

IHE currently has the higher Sharpe Ratio (2.36 vs 0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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