PPH vs. PIT

Last updated Jun 23, 2026

PPH (VanEck Pharmaceutical ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - PPH is a Health & Biotech Equities fund tracking the MVIS US Listed Pharmaceutical 25 Index, while PIT is a Commodities fund actively managed by VanEck. PPH is passively managed, while PIT is actively managed. Over the past 3 years, PPH returned 11.87%/yr vs 19.51%/yr for PIT. At a correlation of -0.02, they often move in opposite directions. PPH charges 0.36%/yr vs 0.55%/yr for PIT.

Performance

PPH vs. PIT - Performance Comparison

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

Returns By Period

In the year-to-date period, PPH achieves a 1.11% return, which is significantly lower than PIT's 27.31% return.

PPH

• 1D: 0.92%
• 1M: -1.45%
• YTD: 1.11%
• 6M: 1.61%
• 1Y: 21.33%
• 3Y*: 11.87%
• 5Y*: 9.48%
• 10Y*: 8.33%

PIT

• 1D: -0.75%
• 1M: -10.60%
• YTD: 27.31%
• 6M: 26.74%
• 1Y: 38.33%
• 3Y*: 19.51%
• 5Y*: —
• 10Y*: —

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

PPH vs. PIT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PPH VanEck Pharmaceutical ETF	1.11%	22.00%	8.05%	6.95%	0.28%
PIT VanEck Commodity Strategy ETF	27.31%	21.63%	6.77%	-4.54%	1.67%

Correlation

The correlation between PPH and PIT is -0.17, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	-0.02

The correlation between PPH and PIT shifts across timeframes, from -0.17 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PPH vs. PIT — Risk / Return Rank

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

PPH

PPH Risk / Return Rank: 36
PPH Sharpe Ratio Rank: 35
PPH Sortino Ratio Rank: 38
PPH Omega Ratio Rank: 34
PPH Calmar Ratio Rank: 41
PPH Martin Ratio Rank: 34

PIT

PIT Risk / Return Rank: 55
PIT Sharpe Ratio Rank: 54
PIT Sortino Ratio Rank: 48
PIT Omega Ratio Rank: 52
PIT Calmar Ratio Rank: 57
PIT Martin Ratio Rank: 62

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. PIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Pharmaceutical ETF (PPH) and VanEck Commodity Strategy ETF (PIT). 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.

	PPH	PIT	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.78	-0.56
Sortino ratio: Return per unit of downside risk	1.92	2.32	-0.40
Omega ratio: Gain probability vs. loss probability	1.22	1.32	-0.10
Calmar ratio: Return relative to maximum drawdown	1.99	2.74	-0.75
Martin ratio: Return relative to average drawdown	4.86	10.88	-6.02

PPH vs. PIT - Sharpe Ratio Comparison

The current PPH Sharpe Ratio is 1.22, which is lower than the PIT Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of PPH and PIT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PPH vs. PIT - Drawdown Comparison

The maximum PPH drawdown since its inception was -51.45%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for PPH and PIT.

Drawdown Indicators

	PPH	PIT	Difference
Max Drawdown Largest peak-to-trough decline	-51.45%	-14.05%	-37.40%
Max Drawdown (1Y) Largest decline over 1 year	-10.76%	-14.05%	+3.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.06%	-14.05%	-4.01%
Max Drawdown (5Y) Largest decline over 5 years	-20.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.70%	—	—
Current Drawdown Current decline from peak	-6.61%	-14.05%	+7.44%
Average Drawdown Average peak-to-trough decline	-17.29%	-4.07%	-13.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	3.59%	+0.81%

Volatility

PPH vs. PIT - Volatility Comparison

VanEck Pharmaceutical ETF (PPH) has a higher volatility of 6.13% compared to VanEck Commodity Strategy ETF (PIT) at 4.67%. This indicates that PPH's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PPH	PIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.13%	4.67%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	12.15%	19.36%	-7.21%
Volatility (1Y) Calculated over the trailing 1-year period	17.61%	21.66%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	17.50%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.01%	17.50%	-0.49%

PPH vs. PIT - Expense Ratio Comparison

PPH has a 0.36% expense ratio, which is lower than PIT's 0.55% expense ratio.

Dividends

PPH vs. PIT - Dividend Comparison

PPH's dividend yield for the trailing twelve months is around 2.08%, less than PIT's 7.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PIT VanEck Commodity Strategy ETF	7.00%	8.92%	3.59%	6.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PPH VanEck Pharmaceutical ETF	2.08%	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 PIT in my portfolio?

PPH and PIT have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PPH or PIT?

PPH has higher volatility (6.13%) compared to PIT (4.67%). In terms of maximum drawdown, PPH dropped -51.45% vs PIT's -14.05%.

Which ETF is better, PPH or PIT?

On 3-year performance, PIT leads with 19.51% vs 11.87% for PPH. On fees, PPH is cheaper at 0.36% per year. On volatility, PIT has been the lower-risk option at 4.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PPH or PIT?

Over the 3-year period, PIT has performed better with a 19.51% return vs 11.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PPH or PIT?

PPH is cheaper with a 0.36% expense ratio, compared with 0.55% for PIT.

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

PIT has the higher dividend yield at 7.00%, compared with 2.08% for PPH.

What is the main difference between PPH and PIT?

PPH is categorized as Health & Biotech Equities, while PIT is Commodities. Their fees differ too: 0.36% for PPH and 0.55% for PIT.

Which has better risk-adjusted returns?

PIT currently has the higher Sharpe Ratio (1.78 vs 1.22), 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.