TMED vs. PBPH

Last updated Jun 4, 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. A 0.80 correlation means they provide meaningful diversification when combined. 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

In the year-to-date period, TMED achieves a 3.87% return, which is significantly higher than PBPH's -1.13% return.

TMED

• 1D: 1.04%
• 1M: 2.47%
• YTD: 3.87%
• 6M: 4.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PBPH

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

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

TMED vs. PBPH - Yearly Performance Comparison

	2026 (YTD)	2025
TMED T. Rowe Price Health Care ETF	3.87%	-2.00%
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	-1.13%	0.76%

Correlation

The correlation between TMED and PBPH is 0.80, 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	0.80

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.

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

Sharpe Ratios by Period

	TMED	PBPH	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	-0.04	+1.40

Drawdowns

TMED vs. PBPH - Drawdown Comparison

The maximum TMED drawdown since its inception was -11.11%, roughly equal to 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	-11.11%	-11.10%	-0.01%
Current Drawdown Current decline from peak	-2.75%	-8.69%	+5.94%
Average Drawdown Average peak-to-trough decline	-2.59%	-4.23%	+1.64%

Volatility

Volatility by Period

	TMED	PBPH	Difference
Volatility (1Y) Calculated over the trailing 1-year period	18.04%	16.78%	+1.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.04%	16.78%	+1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	16.78%	+1.26%

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's dividend yield for the trailing twelve months is around 0.52%, more than PBPH's 0.09% yield.

Position	TTM	2025
PBPH Portfolio Building Block World Pharma and Biotech Index ETF	0.09%	0.09%
TMED T. Rowe Price Health Care ETF	0.52%	0.54%

Frequently Asked Questions

Can I hold both TMED and PBPH in my portfolio?

TMED and PBPH have a correlation of 0.80, 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?

TMED has the higher dividend yield at 0.52%, compared with 0.09% for PBPH.

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.