PBPH vs. MDEV

Last updated Jun 4, 2026

PBPH (Portfolio Building Block World Pharma and Biotech Index ETF) and MDEV (First Trust Indxx Medical Devices ETF) are both Health & Biotech Equities funds - PBPH tracks the BITA Global Pharma and Biotech Select Index while MDEV tracks the Indxx Global Medical Equipment Index. Both are passively managed. A 0.54 correlation means they provide meaningful diversification when combined. PBPH charges 0.13%/yr vs 0.70%/yr for MDEV.

Performance

PBPH vs. MDEV - 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 First Trust Indxx Medical Devices ETF (MDEV). 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 MDEV's -11.48% return.

PBPH

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

MDEV

• 1D: 0.04%
• 1M: 1.54%
• YTD: -11.48%
• 6M: -12.29%
• 1Y: -7.05%
• 3Y*: -2.86%
• 5Y*: —
• 10Y*: —

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

PBPH vs. MDEV - Yearly Performance Comparison

	2026 (YTD)	2025
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	-1.13%	0.76%
MDEV First Trust Indxx Medical Devices ETF	-11.48%	-2.44%

Correlation

The correlation between PBPH and MDEV is 0.54, 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 Nov 26, 2025	0.54

Return for Risk

PBPH vs. MDEV — Risk / Return Rank

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

MDEV

MDEV Risk / Return Rank: 5
MDEV Sharpe Ratio Rank: 5
MDEV Sortino Ratio Rank: 5
MDEV Omega Ratio Rank: 5
MDEV Calmar Ratio Rank: 5
MDEV Martin Ratio Rank: 4

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. MDEV - 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 First Trust Indxx Medical Devices ETF (MDEV). 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	MDEV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	-0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	-0.32	+0.27

Drawdowns

PBPH vs. MDEV - Drawdown Comparison

The maximum PBPH drawdown since its inception was -11.10%, smaller than the maximum MDEV drawdown of -42.34%. Use the drawdown chart below to compare losses from any high point for PBPH and MDEV.

Drawdown Indicators

	PBPH	MDEV	Difference
Max Drawdown Largest peak-to-trough decline	-11.10%	-42.34%	+31.24%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.13%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.50%	—
Current Drawdown Current decline from peak	-8.69%	-33.76%	+25.07%
Average Drawdown Average peak-to-trough decline	-4.23%	-25.65%	+21.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.22%	—

Volatility

Volatility by Period

	PBPH	MDEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.60%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.42%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	16.00%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	18.98%	-2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.78%	18.98%	-2.20%

PBPH vs. MDEV - Expense Ratio Comparison

PBPH has a 0.13% expense ratio, which is lower than MDEV's 0.70% expense ratio.

Dividends

PBPH vs. MDEV - Dividend Comparison

PBPH's dividend yield for the trailing twelve months is around 0.09%, while MDEV has not paid dividends to shareholders.

Position	TTM	2025
MDEV First Trust Indxx Medical Devices ETF	0.00%	0.00%
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	0.09%	0.09%

Frequently Asked Questions

Can I hold both PBPH and MDEV in my portfolio?

PBPH and MDEV have a correlation of 0.54, 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 MDEV?

On fees, PBPH is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PBPH or MDEV?

PBPH is cheaper with a 0.13% expense ratio, compared with 0.70% for MDEV.

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

PBPH has the higher dividend yield at 0.09%, compared with 0.00% for MDEV.

What is the main difference between PBPH and MDEV?

PBPH tracks BITA Global Pharma and Biotech Select Index, while MDEV tracks Indxx Global Medical Equipment Index. They also come from different issuers: Portfolio Building Block and First Trust. Their fees differ too: 0.13% for PBPH and 0.70% for MDEV.