IHI
Generally safe
High confidence
ETF Comparison
IHI vs XLV: Which Is the Better Pick in 2026?
A head-to-head comparison of iShares U.S. Medical Devices ETF and State Street Health Care Select Sector SPDR ETF covering yield, cost, risk, and income potential.
Updated November 6, 2026
How these figures are calculated: methodology.
Best for
- IHIInvestors who want targeted health-care exposure and accept its concentration.
- XLVInvestors who want higher current income (1.39% vs 0.56% for IHI).
Price and total return
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Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
XLV
Safe
High confidence
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  IHI |  XLV |
|---|---|---|
| Full name | iShares U.S. Medical Devices ETF | State Street Health Care Select Sector SPDR ETF |
| Issuer | iShares | State Street |
| Last Close | $57.59 as of November 6, 2026 | $184.80 as of November 6, 2026 |
| Distribution rate | 0.56% | 1.39% |
| Trailing 12-month yield | 0.45% | 1.38% |
| Distribution Safety Score™ | 79 | 100 |
| Safety-Adjusted Yield | 0.44% | 1.39% |
| Expense ratio | 0.37% | 0.08% |
| AUM | $3.61B | $49.1B |
| Distribution frequency | Quarterly | Quarterly |
| Underlying index | — | Health Care Select Sector Index |
| Objective | — | Provide exposure to the fund's underlying index or strategy per issuer materials. |
| Asset class | Equity | Equity |
| Inception date | 05/01/2006 | 12/16/1998 |
| Beta | 0.77 | 0.41 |
| Last dividend | $0.081 | $0.642 |
| Ex-dividend date | 09/15/2026 | 09/21/2026 |
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
IHI has lagged XLV over the trailing twelve months, posting a -2.12% total return against 29.07%. The lead holds up over 10 years too: XLV has compounded at 12.64% a year, against 10.65% for IHI. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | 3Y annualized | 5Y annualized | 10Y annualized | Since May 2006 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|---|---|---|
| IHI | -4.65% | -2.12% | 8.18% | -1.37% | 10.65% | 10.48% | 18.6% | 0.21 | 0.30 | -26.6% |
| XLV | 20.93% | 29.07% | 15.09% | 8.59% | 12.64% | 11.03% | 15.2% | 0.66 | 0.97 | -17.1% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since May 2006” measures every fund from May 5, 2006 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Bottom lineChoose IHI if you want targeted health-care exposure and accept its concentration. Choose XLV if you want higher current income (1.39% vs 0.56% for IHI).
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
ETFs468
Total AUM$4.63T
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
iShares, operated by BlackRock, is one of the largest and most established ETF providers globally, known for offering broad, liquid index-tracking funds across nearly all asset classes and investment styles. The lineup encompasses a comprehensive range of strategies including core equity and bond exposure, dividend and income-focused funds, covered call strategies, ESG and thematic investments, factor-based approaches, alternatives, commodities, and municipal bonds, serving both individual and institutional investors. With numerous popular ticker symbols and extensive diversification across geographies, sectors, and investment objectives, iShares provides one of the market's widest selections of ETFs for building diversified portfolios.
See our curated list of related YouTube videos on IHI.
ETFs186
Total AUM$2.15T
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on XLV.
Quick verdict
IHI (iShares U.S. Medical Devices ETF) and XLV (State Street Health Care Select Sector SPDR ETF) are both quarterly-pay dividend ETFs, but they take different approaches.
XLV offers the higher yield at 1.39% vs 0.56% for IHI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
XLV is cheaper with an expense ratio of 0.08% compared to 0.37%.
XLV is the larger fund by assets ($49.1B), but assets alone do not establish trading costs or liquidity.
Top-holdings overlap
Positions that appear in every fund's top 10. Issuers disclose only the largest weights, so this captures the overlap of the concentrated end of each book — not the full portfolios.
1 shared position
IHI 18.3% of its top-10 weight
XLV 2.8% of its top-10 weight
| Position | IHI | XLV |
|---|---|---|
| ABT Abbott Laboratories |
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, IHI would pay about $56.00 a year (about $14.00 per quarterly distribution), while XLV would pay about $139.00 a year (about $34.75 per quarterly distribution). Both pay quarterly distributions.
IHI yield0.56%
XLV yield1.39%
Annual cash diff on $10K$83.00
Cost & efficiency
Over 10 years on $10,000, IHI would cost approximately $370 in fees vs $80 for XLV (simplified, not compounded). The $290.00 difference may be offset by yield or performance.
IHI ER0.37%
XLV ER0.08%
Strategy & risk
IHI is an ETF built around healthcare exposure, while XLV tracks Health Care Select Sector Index with an index approach. Beta is 0.77 for IHI and 0.41 for XLV, making XLV the less sensitive to market moves of the two by this measure.
IHI beta0.77
XLV beta0.41
Fund details
IHI is managed by iShares (launched 05/01/2006) with $3.61B in assets. XLV is managed by State Street (launched 12/16/1998) with $49.1B in assets.
IHI AUM$3.61B
XLV AUM$49.1B
Frequently asked questions
What is the current distribution rate for IHI and XLV?
IHI currently distributes 0.56% and XLV 1.39%, based on fund data updated November 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is IHI or XLV better for dividend income?
It depends on your goals. XLV currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between IHI and XLV?
IHI (iShares U.S. Medical Devices ETF) is an ETF built around healthcare exposure, while XLV (State Street Health Care Select Sector SPDR ETF) tracks Health Care Select Sector Index with an index approach. They are issued by iShares and State Street respectively.
Can I hold both IHI and XLV?
Yes. Their disclosed top-10 holdings share only 1 position, so combining both adds mostly distinct underlying names — see the holdings-overlap section above. Overlap outside the disclosed top 10 can still exist.
Is IHI or XLV safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — XLV scores 100, IHI scores 79, so XLV's payout currently looks the more resilient of the two. XLV has also been less sensitive to market moves (beta 0.41 vs 0.77 for IHI). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
Which has lower fees, IHI or XLV?
IHI has an expense ratio of 0.37% while XLV charges 0.08%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in IHI vs XLV generate?
At current distribution rates, $10,000 in IHI would pay about $56.00 a year (about $14.00 per quarterly distribution). $10,000 in XLV would pay about $139.00 a year (about $34.75 per quarterly distribution).
Which has performed better historically, IHI or XLV?
IHI has lagged XLV over the trailing twelve months, posting a -2.12% total return against 29.07%. The lead holds up over 10 years too: XLV has compounded at 12.64% a year, against 10.65% for IHI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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Dividend dates and history
IHI vs XLV — at a glance
Generated October 31, 2026.
Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.
Overview
IHI and XLV are both healthcare ETFs, but they track different segments of the sector. IHI focuses exclusively on U.S. medical devices—a narrower, more specialized exposure—while XLV tracks the broader Health Care Select Sector Index, which includes pharmaceuticals, biotechnology, medical devices, healthcare services, and equipment manufacturers. The key distinction is breadth: IHI is a thematic play on devices; XLV is a sector-wide foundation.
How they differ
The biggest difference is scope. On cost, XLV wins decisively: its expense ratio is 0.08%, compared to IHI's 0.37%, a 0.29 percentage-point gap. XLV also yields more, distributing at 1.39% versus IHI's 0.56%, likely because pharma and biotech holdings tend to throw off more cash than devices alone. On volatility, IHI carries a beta of 0.77, meaning it tends to move more than the broader market, while XLV's beta of 0.41 indicates less sensitivity to market swings—fitting a more diversified sector fund.
Who each is best for
IHI: Fits investors who want concentrated exposure to the medical devices subsector and believe that segment will outpace the broader healthcare market, or who already hold diversified healthcare exposure and want to tilt deeper into devices.
XLV: Fits investors seeking full healthcare sector representation at a low cost, those new to healthcare allocation who want a balanced mix across pharma, biotech, devices, and services, or those who prioritize lower fees and broader diversification within healthcare.
Key risks to know
- Sector concentration: IHI's exclusive focus on devices means it misses tailwinds from pharma pipelines, biotech momentum, or healthcare services growth—and amplifies downside if device demand softens due to procedure delays, pricing pressure, or reimbursement changes.
- Divergent subsector cycles: Healthcare is not monolithic; devices, pharma, and biotech cycle differently. IHI's beta of 0.77 versus XLV's 0.41 suggests IHI may lag in defensive environments and outpace in risk-on rallies, making it a timing call rather than a stable sector anchor.
- Regulatory and reimbursement risk: Medical device companies face FDA approval timelines, hospital purchasing cycles, and Medicare reimbursement pressure; IHI's narrow focus concentrates this risk, while XLV's pharma and biotech holdings provide a buffer during device-sector headwinds.
- Lower yield sustainability: XLV's higher distribution rate of 1.39% reflects the yield profile of a mature sector index; IHI's 0.56% reflects lower payout ratios in devices, suggesting less room for yield growth but also less reliance on capital appreciation to fund distributions.
Bottom line
If you want broad healthcare exposure at minimal cost, XLV's 0.08% fee and sector-wide holdings make it the default entry point. If you believe medical devices will outperform the rest of healthcare, or you already own XLV and want to overweight devices, IHI adds that specialized tilt—though at higher cost and higher market sensitivity. Past performance does not predict future results.
AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.
Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.