IHI vs VOO
iShares US Medical Devices ETF vs Vanguard S&P 500 ETF
Which is better, IHI or VOO?
All Cap Blend against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 74.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IHI | VOO |
|---|---|---|
| Expense Ratio | 0.37% | 0.03%Best |
| AUM | $3.4B | $997.4B |
| Dividend Yield | 0.44% | 1.04% |
| Holdings | 51 | 509 |
| YTD Return | -17.57% | +11.55%Best |
| 1Y Return | -16.06% | +17.54%Best |
| 3Y Return (annualized) | +0.25% | +20.71%Best |
| 5Y Return (annualized) | -4.66% | +12.80%Best |
| Volatility (annualized) | 16.4% | 14.1%Best |
| Max Drawdown | -33.3%Best | -34.3% |
| $10,000 over 5 years | $7,877 | $18,262Best |
| Top 10 Weight | 74.6% | 36.4%Best |
| Fund Family | iShares by BlackRock (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | All Cap Blend | Large Cap Blend |
| Inception | May 1, 2006 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 10, 2026 (16 years).
IHI vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16 years both funds cover.
IHI vs VOO Performance
iShares US Medical Devices ETF (IHI) is an ETF from iShares by BlackRock (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year IHI returned -16.06% while VOO returned +17.54%. Year to date, IHI is down 17.57% versus a gain of 11.55% for VOO.
Over three years, IHI compounded at +0.25% per year against +20.71% for VOO; over five years the annualized figures are -4.66% and +12.80% respectively. Across the full 16-year window we track, VOO has the edge at +13.35% annualized vs +12.07%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IHI has been the more volatile fund, with annualized monthly volatility of 16.4% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.3% for IHI and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IHI charges 0.37% per year while VOO charges 0.03%. On a $10,000 position that is $37 vs $3 annually, a gap of $34 per year that compounds over a long holding period. On income, IHI currently yields 0.44% against 1.04% for VOO.
Holdings Overlap
87.8% of IHI's money is in holdings VOO also owns. 1.3% of VOO's money is in holdings IHI also owns.
Most of IHI is already inside VOO. Owning both mostly buys the same companies twice.
The two holdings books were reported 62 days apart, IHI as of Aug 31, 2026 and VOO as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
15 positions in common, counted across the 47 positions we hold weights for in IHI and 505 in VOO, against full books of 51 and 509.
What only one of them owns
Our book lists 481 positions for VOO that do not appear in our book for IHI (98.1% of the fund), and 31 for IHI that do not appear in VOO (12.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IHI | Weight in VOO | Difference |
|---|---|---|---|
| ABTAbbott Laboratories | 18.54% | 0.25% | 18.29% |
| ISRGIntuitive Surgical Inc | 12.87% | 0.22% | 12.65% |
| SYKStryker Corp 3.375 11/25 | 10.77% | 0.17% | 10.60% |
| BDXBecton Dickinson And Co. | 5.18% | 0.06% | 5.12% |
| DXCMDexcom Inc. | 4.90% | 0.04% | 4.86% |
| RMDResmed Inc. | 4.85% | 0.04% | 4.81% |
| MDTMedtronic Plc Ordinary Shares | 4.59% | 0.16% | 4.43% |
| GEHCGe Healthcare Technologies Inc | 4.52% | 0.05% | 4.47% |
| EWEdwards Lifesciences Corp | 4.29% | 0.08% | 4.21% |
| BSXBoston Scientific Corp. | 4.06% | 0.10% | 3.96% |
87.8% of IHI is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IHI or VOO?
IHI has an expense ratio of 0.37% while VOO charges 0.03%. VOO is the cheaper option, by $34 a year on a $10,000 investment.
Which performed better, IHI or VOO?
Over the past year IHI returned -16.06% vs +17.54% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), IHI annualized +12.07% vs +13.35% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IHI or VOO?
IHI has been the more volatile fund at 16.4% annualized versus 14.1% for VOO. Worst drawdown: IHI -33.3% vs VOO -34.3%.
Should I hold both IHI and VOO?
IHI and VOO have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IHI and VOO?
87.8% of IHI's money is in holdings VOO also owns. 1.3% of VOO's is in holdings IHI also owns. They hold 15 positions in common, counted across the 47 positions we hold weights for in IHI and 505 in VOO.
Which pays a higher dividend, IHI or VOO?
IHI yields 0.44% while VOO yields 1.04%, so VOO currently pays the higher dividend yield.
Is VOO better than IHI?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. VOO is less concentrated, with 36.4% of the fund in its ten largest positions against 74.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.