PPH vs. IXJ

Last updated Jun 4, 2026

PPH (VanEck Vectors Pharmaceutical ETF) and IXJ (iShares Global Healthcare ETF) are both Health & Biotech Equities funds - PPH tracks the MVIS US Listed Pharmaceutical 25 Index while IXJ tracks the S&P Global Healthcare Sector Index. Both are passively managed. Over the past 10 years, PPH returned 7.46%/yr vs 7.66%/yr for IXJ. Their correlation of 0.85 suggests significant overlap in exposure. PPH charges 0.36%/yr vs 0.46%/yr for IXJ.

Performance

PPH vs. IXJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Pharmaceutical ETF (PPH) and iShares Global Healthcare ETF (IXJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PPH achieves a -0.76% return, which is significantly higher than IXJ's -5.26% return. Both investments have delivered pretty close results over the past 10 years, with PPH having a 7.46% annualized return and IXJ not far ahead at 7.66%.

PPH

• 1D: 0.33%
• 1M: -0.56%
• YTD: -0.76%
• 6M: 2.14%
• 1Y: 17.87%
• 3Y*: 12.03%
• 5Y*: 9.22%
• 10Y*: 7.46%

IXJ

• 1D: 0.39%
• 1M: 0.34%
• YTD: -5.26%
• 6M: -4.88%
• 1Y: 9.30%
• 3Y*: 4.42%
• 5Y*: 4.02%
• 10Y*: 7.66%

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

PPH vs. IXJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PPH VanEck Vectors Pharmaceutical ETF	-0.76%	22.00%	8.05%	6.95%	2.64%	17.79%	5.49%	19.39%	-5.89%	15.23%
IXJ iShares Global Healthcare ETF	-5.26%	14.99%	0.55%	3.62%	-4.94%	19.60%	12.74%	23.23%	2.83%	20.44%

Correlation

The correlation between PPH and IXJ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 27, 2001	0.85

The correlation between PPH and IXJ has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

PPH vs. IXJ - Sectors Allocation Comparison

Sectors	PPH	IXJ
Healthcare	100.0%	98.9%
Industrials	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	0.5%
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PPH vs. IXJ — Risk / Return Rank

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

PPH

PPH Risk / Return Rank: 29
PPH Sharpe Ratio Rank: 28
PPH Sortino Ratio Rank: 30
PPH Omega Ratio Rank: 28
PPH Calmar Ratio Rank: 33
PPH Martin Ratio Rank: 27

IXJ

IXJ Risk / Return Rank: 19
IXJ Sharpe Ratio Rank: 19
IXJ Sortino Ratio Rank: 20
IXJ Omega Ratio Rank: 18
IXJ Calmar Ratio Rank: 20
IXJ Martin Ratio Rank: 19

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.

PPH vs. IXJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Pharmaceutical ETF (PPH) and iShares Global Healthcare ETF (IXJ). 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.

	PPH	IXJ	Difference
Sharpe ratio: Return per unit of total volatility	1.04	0.64	+0.40
Sortino ratio: Return per unit of downside risk	1.64	1.06	+0.59
Omega ratio: Gain probability vs. loss probability	1.19	1.12	+0.07
Calmar ratio: Return relative to maximum drawdown	1.67	0.87	+0.80
Martin ratio: Return relative to average drawdown	3.88	2.11	+1.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PPH vs. IXJ - Sharpe Ratio Comparison

The current PPH Sharpe Ratio is 1.04, which is higher than the IXJ Sharpe Ratio of 0.64. The chart below compares the historical Sharpe Ratios of PPH and IXJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PPH	IXJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	0.64	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.28	+0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.49	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.42	-0.12

Drawdowns

PPH vs. IXJ - Drawdown Comparison

The maximum PPH drawdown since its inception was -51.45%, which is greater than IXJ's maximum drawdown of -40.60%. Use the drawdown chart below to compare losses from any high point for PPH and IXJ.

Drawdown Indicators

	PPH	IXJ	Difference
Max Drawdown Largest peak-to-trough decline	-51.45%	-40.60%	-10.85%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-10.78%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-18.14%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-20.26%	-18.14%	-2.12%
Max Drawdown (10Y) Largest decline over 10 years	-29.70%	-27.35%	-2.35%
Current Drawdown Current decline from peak	-8.34%	-9.27%	+0.93%
Average Drawdown Average peak-to-trough decline	-17.31%	-6.92%	-10.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	4.41%	+0.20%

Volatility

PPH vs. IXJ - Volatility Comparison

VanEck Vectors Pharmaceutical ETF (PPH) has a higher volatility of 4.73% compared to iShares Global Healthcare ETF (IXJ) at 3.75%. This indicates that PPH's price experiences larger fluctuations and is considered to be riskier than IXJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPH	IXJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.73%	3.75%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	10.05%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	17.26%	14.55%	+2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.07%	14.21%	+0.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.96%	15.67%	+1.29%

PPH vs. IXJ - Expense Ratio Comparison

PPH has a 0.36% expense ratio, which is lower than IXJ's 0.46% expense ratio.

Dividends

PPH vs. IXJ - Dividend Comparison

PPH's dividend yield for the trailing twelve months is around 2.12%, more than IXJ's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IXJ iShares Global Healthcare ETF	1.47%	1.40%	1.50%	1.38%	1.17%	1.12%	1.27%	1.42%	2.11%	1.46%	1.73%	2.85%
PPH VanEck Vectors Pharmaceutical ETF	2.12%	1.78%	1.98%	2.09%	1.55%	1.62%	1.66%	1.77%	1.97%	1.92%	2.43%	1.93%

Frequently Asked Questions

Can I hold both PPH and IXJ in my portfolio?

With a correlation of 0.91, PPH and IXJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PPH or IXJ?

PPH has higher volatility (4.73%) compared to IXJ (3.75%). In terms of maximum drawdown, PPH dropped -51.45% vs IXJ's -40.60%.

Which ETF is better, PPH or IXJ?

On 10-year performance, IXJ leads with 7.66% vs 7.46% for PPH. On fees, PPH is cheaper at 0.36% per year. On volatility, IXJ has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPH or IXJ?

Over the 10-year period, IXJ has performed better with a 7.66% return vs 7.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPH or IXJ?

PPH is cheaper with a 0.36% expense ratio, compared with 0.46% for IXJ.

Which ETF pays a higher dividend yield, PPH or IXJ?

PPH has the higher dividend yield at 2.12%, compared with 1.47% for IXJ.

What is the main difference between PPH and IXJ?

PPH tracks MVIS US Listed Pharmaceutical 25 Index, while IXJ tracks S&P Global Healthcare Sector Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.36% for PPH and 0.46% for IXJ.

Which has better risk-adjusted returns?

PPH currently has the higher Sharpe Ratio (1.04 vs 0.64), 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.