PSCH vs. MHIP
PSCH (Invesco S&P SmallCap Health Care ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. PSCH is passively managed, while MHIP is actively managed. A 0.70 correlation means they provide meaningful diversification when combined. PSCH charges 0.29%/yr vs 0.55%/yr for MHIP.
Performance
PSCH vs. MHIP - Performance Comparison
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Returns By Period
PSCH
- 1D
- -0.94%
- 1M
- 10.61%
- 6M
- 18.53%
- YTD
- 19.98%
- 1Y
- 31.30%
- 3Y*
- 5.98%
- 5Y*
- -2.31%
- 10Y*
- 8.15%
MHIP
- 1D
- -0.52%
- 1M
- 1.00%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PSCH vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
PSCH Invesco S&P SmallCap Health Care ETF | 18.66% |
MHIP Milliman Healthcare Inflation Plus ETF | -0.39% |
Correlation
The correlation between PSCH and MHIP is 0.70, 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 | 0.70 |
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Return for Risk
PSCH vs. MHIP — Risk / Return Rank
PSCH
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PSCH vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Health Care ETF (PSCH) 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.
| PSCH | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.27 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | — | — |
| Martin ratioReturn relative to average drawdown | 6.52 | — | — |
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Drawdowns
PSCH vs. MHIP - Drawdown Comparison
The maximum PSCH drawdown since its inception was -46.32%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for PSCH and MHIP.
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Drawdown Indicators
| PSCH | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.32% | -3.09% | -43.23% |
Max Drawdown (1Y)Largest decline over 1 year | -15.36% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -22.98% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.37% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -46.32% | — | — |
Current DrawdownCurrent decline from peak | -18.20% | -1.99% | -16.21% |
Average DrawdownAverage peak-to-trough decline | -13.51% | -1.27% | -12.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.92% | — | — |
Volatility
PSCH vs. MHIP - Volatility Comparison
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Volatility by Period
| PSCH | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 14.65% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 11.68% | +8.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.97% | 11.68% | +11.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.63% | 11.68% | +11.95% |
PSCH vs. MHIP - Expense Ratio Comparison
PSCH has a 0.29% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
PSCH vs. MHIP - Dividend Comparison
PSCH's dividend yield for the trailing twelve months is around 0.01%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PSCH Invesco S&P SmallCap Health Care ETF | 0.01% | 0.04% | 0.27% | 0.01% | 2.27% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.03% |
Frequently Asked Questions
PSCH and MHIP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PSCH is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PSCH is cheaper with a 0.29% expense ratio, compared with 0.55% for MHIP.
PSCH has the higher dividend yield at 0.01%, compared with 0.00% for MHIP.
They also come from different issuers: Invesco and Milliman. Their fees differ too: 0.29% for PSCH and 0.55% for MHIP.
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