IHI — iShares U.S. Medical Devices ETF

IHI Price Performance — Growth of $10,000

Value of a $10,000 investment in IHI over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

IHI Drawdown

The "underwater" chart: IHI's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The iShares U.S. Medical Devices ETF (IHI) is a Healthcare sector fund issued by iShares with $3.02 billion in assets under management. Trading at a price of $52.69, the fund carries an expense ratio of 0.38% and offers a dividend yield of 0.49%. ETFValuer ranks this fund #443 out of 458 tracked ETFs across all categories, assigning it an overall grade of F with a score of 32.4 out of 100. Within the Healthcare category specifically, the fund is one of 11 ETFs monitored by the platform. The substantial AUM figure suggests significant investor capital is allocated to this vehicle despite its low ranking and poor grade. The combination of a moderate expense ratio and low yield indicates a focus on capital appreciation rather than income generation for holders. Its position near the bottom of the total tracked universe reflects the current assessment of its risk-adjusted performance relative to peers.

Recent price action shows a sharp divergence between short-term gains and longer-term losses, with the fund posting a 1-day return of +2.57% and a 1-week return of +5.49%. This short-term momentum continued into the 1-month period with a +3.25% gain, followed by a flat 3-month return of +0.09%. However, the trend reverses significantly over longer horizons, as the 6-month return stands at -13.05% and the year-to-date figure is -14.67%. The negative performance persists over the full year with a 1-year return of -13.86%, while the 3-year annualized return is -2.77%. This pattern indicates that while the fund experienced a brief rally in the most recent weeks, it has struggled to maintain positive returns over the past six months and beyond. The data suggests a lack of sustained upward momentum despite the recent weekly and monthly upticks.

The fund is assigned a Moderate volatility label and exhibits a beta of 0.82, indicating it has historically moved less than the broader market. Despite this lower sensitivity to market swings, the fund recorded a maximum drawdown of -26.64%, reflecting severe downside risk during specific periods. The Sharpe ratio of -0.95 confirms that the fund has generated negative risk-adjusted returns, failing to compensate investors for the volatility taken. This combination of a moderate volatility classification and a deep maximum drawdown suggests that while the fund may not swing wildly every day, it has experienced significant sustained declines. The negative Sharpe ratio further implies that the returns achieved over the measured period were insufficient relative to the risk-free rate and the level of risk assumed. Consequently, the fund has demonstrated a tendency to underperform on a risk-adjusted basis even when its beta suggests lower market correlation.

AI-generated summary based on the data on this page.

IHI Top Holdings

Holdings as of 2026-03-31 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 74.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how IHI's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.

Which Funds Overlap With IHI

Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with IHI's top 10 — VHT overlaps most, holding 2 of the same companies as IHI's top 10 (32.5% of IHI's assets).

Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

IHI Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 4.60% and average daily volume is 3.0M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $3.02B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: IHI is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

IHI Performance History

How IHI Compares to Other Healthcare ETFs