PBE vs. MHIP
PBE (Invesco Dynamic Biotechnology & Genome ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. PBE is passively managed, while MHIP is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. PBE charges 0.59%/yr vs 0.55%/yr for MHIP.
Performance
PBE vs. MHIP - Performance Comparison
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Returns By Period
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%
MHIP
- 1D
- -0.57%
- 1M
- 1.53%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PBE vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PBE Invesco Dynamic Biotechnology & Genome ETF | 12.13% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.13% |
Correlation
The correlation between PBE and MHIP is 0.72, 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 | 0.72 |
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Return for Risk
PBE vs. MHIP — Risk / Return Rank
PBE
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PBE vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Biotechnology & Genome ETF (PBE) and Milliman Healthcare Inflation Plus ETF (MHIP). 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 | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | — | — |
| Martin ratioReturn relative to average drawdown | 9.57 | — | — |
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Drawdowns
PBE vs. MHIP - Drawdown Comparison
The maximum PBE drawdown since its inception was -45.69%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for PBE and MHIP.
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Drawdown Indicators
| PBE | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.69% | -3.09% | -42.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.73% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -22.43% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -37.84% | — | — |
Current DrawdownCurrent decline from peak | -2.82% | -1.48% | -1.34% |
Average DrawdownAverage peak-to-trough decline | -16.16% | -1.25% | -14.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | — | — |
Volatility
PBE vs. MHIP - Volatility Comparison
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Volatility by Period
| PBE | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.08% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 13.48% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 11.73% | +7.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.56% | 11.73% | +10.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.76% | 11.73% | +13.03% |
PBE vs. MHIP - Expense Ratio Comparison
PBE has a 0.59% expense ratio, which is higher than MHIP's 0.55% expense ratio.
Dividends
PBE vs. MHIP - Dividend Comparison
PBE's dividend yield for the trailing twelve months is around 1.71%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
PBE and MHIP have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
MHIP is cheaper with a 0.55% expense ratio, compared with 0.59% for PBE.
PBE has the higher dividend yield at 1.71%, compared with 0.00% for MHIP.
They also come from different issuers: Invesco and Milliman. Their fees differ too: 0.59% for PBE and 0.55% for MHIP.
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