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-focused fund issued by iShares with $3.45 billion in assets under management. It holds an overall rank of #424 out of 458 tracked ETFs and sits at the bottom of its category, ranking 11th of 11 peers. The fund carries an ETFValuer grade of D, reflecting a score of 37.8 out of 100. Its expense ratio of 0.37% is slightly above the category median of 0.36%, while its dividend yield of 0.48% trails the median of 0.98%. The top ten holdings comprise 74.6% of assets, with Abbott Laboratories representing the largest single position at 16.9%.

The fund’s recent price action shows a divergence between short-term gains and longer-term losses, with the 1-month return of +6.97% contrasting sharply with a 1-year decline of -11.17%. Year-to-date performance remains negative at -10.92%, indicating that recent momentum has not yet offset earlier losses. The current price of $54.92 places the ETF at 43.5% of its 52-week range, suggesting it is trading closer to its lower bound than its peak. The rating was upgraded from F to D on October 12, 2026, marking a slight improvement in its assessment. This evaluation is based on only 3.0 years of available price history.

With a beta of 0.77, the ETF has exhibited lower sensitivity to market movements compared to the broader market. Annualized volatility stands at 20.48%, which is classified as moderate, while the maximum drawdown of -26.64% highlights significant historical downside risk. The Sharpe ratio of -0.79 indicates that risk-adjusted returns have been negative over the measured period. Liquidity appears robust, supported by an average daily volume of 2,744,520 shares. These metrics collectively describe a fund that has experienced substantial volatility and poor risk-adjusted performance relative to its cost and income profile.

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

IHI Top Holdings

Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 74.6% 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 — XLV overlaps most, holding 2 of the same companies as IHI's top 10 (32.0% 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: 4.96% (as of 2026-10-22) — 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): 19.03 (as of 2026-10-22) — 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: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

IHI Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 2.7M/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $3.45B 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