PBE vs. IHF

Last updated Jul 14, 2026

PBE (Invesco Dynamic Biotechnology & Genome ETF) and IHF (iShares U.S. Healthcare Providers ETF) are both Health & Biotech Equities funds - PBE tracks the Dynamic Biotech & Genome Intellidex Index (AMEX) while IHF tracks the Dow Jones U.S. Select Health Care Providers Index. Both are passively managed. Over the past 10 years, PBE returned 9.12%/yr vs 9.41%/yr for IHF. A 0.58 correlation means they provide meaningful diversification when combined. PBE charges 0.59%/yr vs 0.43%/yr for IHF.

Performance

PBE vs. IHF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Biotechnology & Genome ETF (PBE) and iShares U.S. Healthcare Providers ETF (IHF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBE achieves a 11.42% return, which is significantly lower than IHF's 20.41% return. Both investments have delivered pretty close results over the past 10 years, with PBE having a 9.12% annualized return and IHF not far ahead at 9.41%.

PBE

• 1D: -0.68%
• 1M: 8.72%
• 6M: 10.59%
• YTD: 11.42%
• 1Y: 39.55%
• 3Y*: 13.97%
• 5Y*: 4.69%
• 10Y*: 9.12%

IHF

• 1D: 0.90%
• 1M: 7.60%
• 6M: 17.04%
• YTD: 20.41%
• 1Y: 28.53%
• 3Y*: 5.07%
• 5Y*: 2.31%
• 10Y*: 9.41%

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

PBE vs. IHF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBE Invesco Dynamic Biotechnology & Genome ETF	11.42%	24.84%	1.10%	3.71%	-10.83%	1.54%	25.66%	18.65%	-0.19%	22.28%
IHF iShares U.S. Healthcare Providers ETF	20.41%	0.92%	-7.90%	-1.11%	-7.11%	24.46%	17.67%	22.34%	9.56%	25.45%

Correlation

The correlation between PBE and IHF is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.53
Correlation (All Time) Calculated using the full available price history since May 5, 2006	0.58

The correlation between PBE and IHF shifts across timeframes, from 0.45 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

PBE vs. IHF - Sectors Allocation Comparison

Sectors	PBE	IHF
Healthcare	100.0%	98.6%
Financial Services	0.1%	0.6%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	0.5%
Utilities	-	-

Return for Risk

PBE vs. IHF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PBE

PBE Risk / Return Rank: 78
PBE Sharpe Ratio Rank: 83
PBE Sortino Ratio Rank: 85
PBE Omega Ratio Rank: 76
PBE Calmar Ratio Rank: 81
PBE Martin Ratio Rank: 67

IHF

IHF Risk / Return Rank: 42
IHF Sharpe Ratio Rank: 49
IHF Sortino Ratio Rank: 43
IHF Omega Ratio Rank: 51
IHF Calmar Ratio Rank: 35
IHF Martin Ratio Rank: 32

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.

PBE vs. IHF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) and iShares U.S. Healthcare Providers ETF (IHF). 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.

	PBE	IHF	Difference
Sharpe ratio: Return per unit of total volatility	2.09	1.35	+0.74
Sortino ratio: Return per unit of downside risk	3.06	1.79	+1.27
Omega ratio: Gain probability vs. loss probability	1.35	1.26	+0.10
Calmar ratio: Return relative to maximum drawdown	3.39	1.45	+1.93
Martin ratio: Return relative to average drawdown	9.57	3.87	+5.70

PBE vs. IHF - Sharpe Ratio Comparison

The current PBE Sharpe Ratio is 2.09, which is higher than the IHF Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of PBE and IHF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PBE vs. IHF - Drawdown Comparison

The maximum PBE drawdown since its inception was -45.69%, smaller than the maximum IHF drawdown of -58.42%. Use the drawdown chart below to compare losses from any high point for PBE and IHF.

Drawdown Indicators

	PBE	IHF	Difference
Max Drawdown Largest peak-to-trough decline	-45.69%	-58.42%	+12.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-19.72%	+7.99%
Max Drawdown (3Y) Largest decline over 3 years	-22.43%	-29.85%	+7.42%
Max Drawdown (5Y) Largest decline over 5 years	-34.71%	-29.85%	-4.86%
Max Drawdown (10Y) Largest decline over 10 years	-37.84%	-35.23%	-2.61%
Current Drawdown Current decline from peak	-2.82%	-0.08%	-2.74%
Average Drawdown Average peak-to-trough decline	-16.16%	-10.62%	-5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.15%	7.40%	-3.25%

Volatility

PBE vs. IHF - Volatility Comparison

Invesco Dynamic Biotechnology & Genome ETF (PBE) and iShares U.S. Healthcare Providers ETF (IHF) have volatilities of 5.08% and 5.18%, 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.

Volatility by Period

	PBE	IHF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	5.18%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	16.38%	-2.90%
Volatility (1Y) Calculated over the trailing 1-year period	19.05%	21.25%	-2.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.56%	19.27%	+3.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.76%	21.03%	+3.73%

PBE vs. IHF - Expense Ratio Comparison

PBE has a 0.59% expense ratio, which is higher than IHF's 0.43% expense ratio.

Dividends

PBE vs. IHF - Dividend Comparison

PBE's dividend yield for the trailing twelve months is around 1.71%, more than IHF's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IHF iShares U.S. Healthcare Providers ETF	0.91%	1.05%	0.86%	0.79%	0.74%	0.56%	0.53%	0.58%	4.01%	0.19%	0.25%	0.20%
PBE Invesco Dynamic Biotechnology & Genome ETF	1.71%	1.00%	0.05%	0.02%	0.00%	0.00%	0.04%	0.00%	0.00%	0.57%	0.38%	1.12%

Frequently Asked Questions

Can I hold both PBE and IHF in my portfolio?

PBE and IHF have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBE or IHF?

IHF has higher volatility (5.18%) compared to PBE (5.08%). In terms of maximum drawdown, PBE dropped -45.69% vs IHF's -58.42%.

Which ETF is better, PBE or IHF?

On 10-year performance, IHF leads with 9.41% vs 9.12% for PBE. On fees, IHF is cheaper at 0.43% per year. On volatility, PBE has been the lower-risk option at 5.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PBE or IHF?

Over the 10-year period, IHF has performed better with a 9.41% return vs 9.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PBE or IHF?

IHF is cheaper with a 0.43% expense ratio, compared with 0.59% for PBE.

Which ETF pays a higher dividend yield, PBE or IHF?

PBE has the higher dividend yield at 1.71%, compared with 0.91% for IHF.

What is the main difference between PBE and IHF?

PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX), while IHF tracks Dow Jones U.S. Select Health Care Providers Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.59% for PBE and 0.43% for IHF.

Which has better risk-adjusted returns?

PBE currently has the higher Sharpe Ratio (2.09 vs 1.35), 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.