TMED vs. PBPH

Last updated Jun 24, 2026

TMED (T. Rowe Price Health Care ETF) and PBPH (Portfolio Building Block World Pharma and Biotech Index ETF) are both Health & Biotech Equities funds. At a correlation of -0.29, they often move in opposite directions. TMED charges 0.44%/yr vs 0.13%/yr for PBPH.

Performance

TMED vs. PBPH - Performance Comparison

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

Returns By Period

TMED

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBPH

• 1D: 1.41%
• 1M: 0.87%
• YTD: 2.63%
• 6M: 2.11%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMED vs. PBPH - Yearly Performance Comparison

	2026 (YTD)
TMED T. Rowe Price Health Care ETF	-7.14%
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	3.81%

Correlation

The correlation between TMED and PBPH is -0.29, 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 (All Time) Calculated using the full available price history since Jun 4, 2026	-0.29

Return for Risk

TMED vs. PBPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Health Care ETF (TMED) and Portfolio Building Block World Pharma and Biotech Index ETF (PBPH). 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.

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

Drawdowns

TMED vs. PBPH - Drawdown Comparison

The maximum TMED drawdown since its inception was -7.14%, smaller than the maximum PBPH drawdown of -11.10%. Use the drawdown chart below to compare losses from any high point for TMED and PBPH.

Drawdown Indicators

	TMED	PBPH	Difference
Max Drawdown Largest peak-to-trough decline	-7.14%	-11.10%	+3.96%
Current Drawdown Current decline from peak	-7.14%	-5.21%	-1.93%
Average Drawdown Average peak-to-trough decline	-5.00%	-4.36%	-0.64%

Volatility

Volatility by Period

	TMED	PBPH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	66.28%	17.07%	+49.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.28%	17.07%	+49.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.28%	17.07%	+49.21%

TMED vs. PBPH - Expense Ratio Comparison

TMED has a 0.44% expense ratio, which is higher than PBPH's 0.13% expense ratio.

Dividends

TMED vs. PBPH - Dividend Comparison

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

Position	TTM	2025
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	0.09%	0.09%
TMED T. Rowe Price Health Care ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMED and PBPH in my portfolio?

TMED and PBPH have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TMED or PBPH?

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, TMED or PBPH?

PBPH is cheaper with a 0.13% expense ratio, compared with 0.44% for TMED.

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

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

What is the main difference between TMED and PBPH?

They also come from different issuers: T. Rowe Price and Portfolio Building Block. Their fees differ too: 0.44% for TMED and 0.13% for PBPH.