PBE vs. IYH
PBE (Invesco Dynamic Biotechnology & Genome ETF) and IYH (iShares U.S. Healthcare ETF) are both Health & Biotech Equities funds - PBE tracks the Dynamic Biotech & Genome Intellidex Index (AMEX) while IYH tracks the Dow Jones U.S. Health Care Index. Both are passively managed. Over the past 10 years, PBE returned 8.19%/yr vs 9.52%/yr for IYH. Their 0.76 correlation means they have sometimes moved together and sometimes differently. PBE charges 0.59%/yr vs 0.43%/yr for IYH.
Performance
PBE vs. IYH - Performance Comparison
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Returns By Period
In the year-to-date period, PBE achieves a 10.26% return, which is significantly higher than IYH's 5.57% return. Over the past 10 years, PBE has underperformed IYH with an annualized return of 8.19%, while IYH has yielded a comparatively higher 9.52% annualized return.
PBE
- 1D
- -1.64%
- 1M
- -2.64%
- 6M
- 10.64%
- YTD
- 10.26%
- 1Y
- 39.36%
- 3Y*
- 13.77%
- 5Y*
- 3.98%
- 10Y*
- 8.19%
- ALL TIME*
- 9.16%
IYH
- 1D
- -0.70%
- 1M
- -1.26%
- 6M
- 5.78%
- YTD
- 5.57%
- 1Y
- 25.47%
- 3Y*
- 8.11%
- 5Y*
- 4.87%
- 10Y*
- 9.52%
- ALL TIME*
- 8.00%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $63.29M | $47.38M | $52.47M | |
| $494.21K | $657.50K | $547.45K |
PBE vs. IYH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBE Invesco Dynamic Biotechnology & Genome ETF | 10.26% | 24.84% | 1.10% | 3.71% | -10.83% | 1.54% | 25.66% | 18.65% | -0.19% | 22.28% |
IYH iShares U.S. Healthcare ETF | 5.57% | 13.16% | 2.99% | 2.14% | -4.46% | 23.41% | 15.56% | 20.80% | 5.80% | 22.27% |
Correlation
The correlation between PBE and IYH is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2005 | 0.76 |
The correlation between PBE and IYH has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.
PBE vs. IYH - Sectors Allocation Comparison
Sectors
PBE
IYH
Healthcare
Financial Services
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Basic Materials
-
-
Communication Services
-
-
Consumer Cyclical
-
-
Consumer Defensive
-
-
Energy
-
-
Industrials
-
-
Real Estate
-
-
Technology
-
Utilities
-
-
Healthcare
PBE
IYH
Financial Services
PBE
IYH
-
Basic Materials
PBE
-
IYH
-
Communication Services
PBE
-
IYH
-
Consumer Cyclical
PBE
-
IYH
-
Consumer Defensive
PBE
-
IYH
-
Energy
PBE
-
IYH
-
Industrials
PBE
-
IYH
-
Real Estate
PBE
-
IYH
-
Technology
PBE
-
IYH
Utilities
PBE
-
IYH
-
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Return for Risk
PBE vs. IYH — Risk / Return Rank
PBE
IYH
PBE vs. IYH - 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 ETF (IYH). 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 | IYH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.29 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 2.47 | +0.94 |
| Martin ratioReturn relative to average drawdown | 9.57 | 5.85 | +3.72 |
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Drawdowns
PBE vs. IYH - Drawdown Comparison
The maximum PBE drawdown since its inception was -45.69%, which is greater than IYH's maximum drawdown of -43.12%. Use the drawdown chart below to compare losses from any high point for PBE and IYH.
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Drawdown Indicators
| PBE | IYH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.69% | -43.12% | -2.57% |
Max Drawdown (1Y)Largest decline over 1 year | -11.73% | -10.64% | -1.09% |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | -17.91% | -4.52% |
Max Drawdown (5Y)Largest decline over 5 years | -34.71% | -17.91% | -16.80% |
Max Drawdown (10Y)Largest decline over 10 years | -37.84% | -28.40% | -9.44% |
Current DrawdownCurrent decline from peak | -3.83% | -2.77% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -16.13% | -8.92% | -7.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.18% | 4.49% | -0.31% |
Volatility
PBE vs. IYH - Volatility Comparison
Invesco Dynamic Biotechnology & Genome ETF (PBE) and iShares U.S. Healthcare ETF (IYH) have volatilities of 5.60% and 5.88%, 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
| PBE | IYH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 5.88% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 13.56% | 12.03% | +1.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 15.86% | +2.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.50% | 15.24% | +7.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.73% | 16.82% | +7.91% |
PBE vs. IYH - Expense Ratio Comparison
PBE has a 0.59% expense ratio, which is higher than IYH's 0.43% expense ratio.
Dividends
PBE vs. IYH - Dividend Comparison
PBE's dividend yield for the trailing twelve months is around 1.73%, more than IYH's 1.17% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IYH iShares U.S. Healthcare ETF | 1.17% | 1.19% | 1.25% | 1.18% | 1.10% | 0.94% | 1.16% | 1.14% | 1.95% | 1.10% | 1.29% | 2.02% |
PBE Invesco Dynamic Biotechnology & Genome ETF | 1.73% | 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
PBE and IYH have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYH has higher volatility (5.88%) compared to PBE (5.60%). In terms of maximum drawdown, PBE dropped -45.69% vs IYH's -43.12%.
On 10-year performance, IYH leads with 9.52% vs 8.19% for PBE. On fees, IYH is cheaper at 0.43% per year. On volatility, PBE has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYH has performed better with a 9.52% return vs 8.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYH is cheaper with a 0.43% expense ratio, compared with 0.59% for PBE.
PBE has the higher dividend yield at 1.73%, compared with 1.17% for IYH.
PBE tracks Dynamic Biotech & Genome Intellidex Index (AMEX), while IYH tracks Dow Jones U.S. Health Care Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.59% for PBE and 0.43% for IYH.
PBE currently has the higher Sharpe Ratio (2.13 vs 1.69), 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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