PBPH vs. FHLC

Last updated Jun 4, 2026

PBPH (Portfolio Building Block World Pharma and Biotech Index ETF) and FHLC (Fidelity MSCI Health Care Index ETF) are both Health & Biotech Equities funds - PBPH tracks the BITA Global Pharma and Biotech Select Index while FHLC tracks the MSCI USA IMI Health Care Index. Both are passively managed. Their correlation of 0.87 suggests significant overlap in exposure. PBPH charges 0.13%/yr vs 0.08%/yr for FHLC.

Performance

PBPH vs. FHLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Portfolio Building Block World Pharma and Biotech Index ETF (PBPH) and Fidelity MSCI Health Care Index ETF (FHLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PBPH achieves a -1.13% return, which is significantly higher than FHLC's -3.90% return.

PBPH

• 1D: 0.58%
• 1M: 0.07%
• YTD: -1.13%
• 6M: -0.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FHLC

• 1D: 0.82%
• 1M: 1.50%
• YTD: -3.90%
• 6M: -4.11%
• 1Y: 14.43%
• 3Y*: 6.14%
• 5Y*: 4.50%
• 10Y*: 9.14%

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

PBPH vs. FHLC - Yearly Performance Comparison

	2026 (YTD)	2025
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	-1.13%	0.76%
FHLC Fidelity MSCI Health Care Index ETF	-3.90%	-2.27%

Correlation

The correlation between PBPH and FHLC is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025	0.87

Return for Risk

PBPH vs. FHLC — Risk / Return Rank

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

FHLC

FHLC Risk / Return Rank: 27
FHLC Sharpe Ratio Rank: 27
FHLC Sortino Ratio Rank: 29
FHLC Omega Ratio Rank: 26
FHLC Calmar Ratio Rank: 28
FHLC Martin Ratio Rank: 26

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.

PBPH vs. FHLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block World Pharma and Biotech Index ETF (PBPH) and Fidelity MSCI Health Care Index ETF (FHLC). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	PBPH	FHLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.01	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.30	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.55	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	0.61	-0.65

Drawdowns

PBPH vs. FHLC - Drawdown Comparison

The maximum PBPH drawdown since its inception was -11.10%, smaller than the maximum FHLC drawdown of -28.76%. Use the drawdown chart below to compare losses from any high point for PBPH and FHLC.

Drawdown Indicators

	PBPH	FHLC	Difference
Max Drawdown Largest peak-to-trough decline	-11.10%	-28.76%	+17.66%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.87%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-28.76%	—
Current Drawdown Current decline from peak	-8.69%	-6.96%	-1.73%
Average Drawdown Average peak-to-trough decline	-4.23%	-5.19%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.11%	—

Volatility

Volatility by Period

	PBPH	FHLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.05%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	14.33%	+2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	14.97%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	16.81%	-0.03%

PBPH vs. FHLC - Expense Ratio Comparison

PBPH has a 0.13% expense ratio, which is higher than FHLC's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

PBPH vs. FHLC - Dividend Comparison

PBPH's dividend yield for the trailing twelve months is around 0.09%, less than FHLC's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHLC Fidelity MSCI Health Care Index ETF	1.43%	1.40%	1.51%	1.40%	1.30%	1.16%	1.45%	1.18%	1.38%	1.38%	1.40%	2.07%
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	0.09%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PBPH and FHLC in my portfolio?

PBPH and FHLC have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PBPH or FHLC?

On fees, FHLC is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBPH or FHLC?

FHLC is cheaper with a 0.08% expense ratio, compared with 0.13% for PBPH.

Which ETF pays a higher dividend yield, PBPH or FHLC?

FHLC has the higher dividend yield at 1.43%, compared with 0.09% for PBPH.

What is the main difference between PBPH and FHLC?

PBPH tracks BITA Global Pharma and Biotech Select Index, while FHLC tracks MSCI USA IMI Health Care Index. They also come from different issuers: Portfolio Building Block and Fidelity. Their fees differ too: 0.13% for PBPH and 0.08% for FHLC.