XPH vs. MHIP
XPH (SPDR S&P Pharmaceuticals ETF) and MHIP (Milliman Healthcare Inflation Plus ETF) are both Health & Biotech Equities funds. XPH is passively managed, while MHIP is actively managed. Their 0.45 correlation means their historical movements had little consistent relationship. XPH charges 0.35%/yr vs 0.55%/yr for MHIP.
Performance
XPH vs. MHIP - Performance Comparison
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Returns By Period
XPH
- 1D
- 0.25%
- 1M
- 1.59%
- 6M
- 19.87%
- YTD
- 22.08%
- 1Y
- 64.62%
- 3Y*
- 17.93%
- 5Y*
- 7.45%
- 10Y*
- 4.80%
- ALL TIME*
- 9.39%
MHIP
- 1D
- 0.39%
- 1M
- -0.68%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.34K | $877.52 | $4.14K | |
| $7.06M | $7.70M | $5.53M |
XPH vs. MHIP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
XPH SPDR S&P Pharmaceuticals ETF | 15.76% |
MHIP Milliman Healthcare Inflation Plus ETF | 0.60% |
Correlation
The correlation between XPH and MHIP is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Apr 21, 2026 | 0.45 |
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Return for Risk
XPH vs. MHIP — Risk / Return Rank
XPH
MHIP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XPH vs. MHIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Pharmaceuticals ETF (XPH) 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.
| XPH | MHIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.46 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.43 | — | — |
| Martin ratioReturn relative to average drawdown | 19.31 | — | — |
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Drawdowns
XPH vs. MHIP - Drawdown Comparison
The maximum XPH drawdown since its inception was -48.03%, which is greater than MHIP's maximum drawdown of -3.09%. Use the drawdown chart below to compare losses from any high point for XPH and MHIP.
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Drawdown Indicators
| XPH | MHIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.03% | -3.09% | -44.94% |
Max Drawdown (1Y)Largest decline over 1 year | -11.97% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -23.57% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -30.92% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -35.97% | — | — |
Current DrawdownCurrent decline from peak | -2.60% | -1.02% | -1.58% |
Average DrawdownAverage peak-to-trough decline | -17.12% | -1.30% | -15.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | — | — |
Volatility
XPH vs. MHIP - Volatility Comparison
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Volatility by Period
| XPH | MHIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.62% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 17.53% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 22.59% | 10.92% | +11.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.02% | 10.92% | +10.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.14% | 10.92% | +11.22% |
XPH vs. MHIP - Expense Ratio Comparison
XPH has a 0.35% expense ratio, which is lower than MHIP's 0.55% expense ratio.
Dividends
XPH vs. MHIP - Dividend Comparison
XPH's dividend yield for the trailing twelve months is around 0.49%, while MHIP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
XPH SPDR S&P Pharmaceuticals ETF | 0.49% | 0.83% | 1.58% | 1.28% | 1.64% | 0.95% | 0.47% | 0.64% | 0.65% | 0.67% | 0.63% | 7.15% |
Frequently Asked Questions
XPH and MHIP have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XPH is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XPH is cheaper with a 0.35% expense ratio, compared with 0.55% for MHIP.
XPH has the higher dividend yield at 0.49%, compared with 0.00% for MHIP.
They also come from different issuers: State Street and Milliman. Their fees differ too: 0.35% for XPH and 0.55% for MHIP.
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