ETF Evaluator: iShares US Medical Devices ETF () Follow This ETF

iShares US Medical Devices ETF Overview

iShares US Medical Devices ETF (IHI) is a passively managed Sector Equity Health exchange-traded fund (ETF). iShares launched the ETF in 2006.

The investment seeks to track the investment results of the Dow Jones U.S. Select Medical Equipment Index composed of U.S. equities in the medical devices sector. The fund seeks to track the investment results of the Dow Jones U.S. Select Medical Equipment Index, which measures the performance of the medical equipment sector of the U.S. equity market, as defined by S&P Dow Jones Indices LLC. The index includes medical equipment companies, including manufacturers and distributors of medical devices such as magnetic resonance imaging scanners, prosthetics, pacemakers, X-ray machines, and other non-disposable medical devices. The fund is non-diversified.

About iShares US Medical Devices ETF (IHI)

There are 4 members of the management team with an average tenure of 4.48 years: Jennifer Hsui (2012), Peter Sietsema (2025), Matt Waldron (2025) and Steven White (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 2 primary benchmarks: S&P US TMI TR USD index with a weighting of 100% and DJ US Select Medical Equip TR USD index with a weighting of 100%. iShares US Medical Devices ETF has 51 securities in its portfolio. The top 10 holdings constitute 74.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

iShares US Medical Devices ETF is part of the Equity global asset class and is within the Sector Equity ETF group. iShares US Medical Devices ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.9% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares US Medical Devices ETF has 0.1% of the portfolio in cash.

Assets Under Management

The fund has $3 billion in total assets, which is above the $1 billion average for the Health category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

IHI Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares US Medical Devices ETF expense ratio is below average compared to funds in the Health category. iShares US Medical Devices ETF has an expense ratio of 0.37%, which is 29% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares US Medical Devices ETF has a portfolio turnover rate of 12%, which indicates that it holds its assets around / 0.1 years. By way of comparison, the average portfolio turnover is 45% for the Health category.

Recently, in the month of July 2026, iShares US Medical Devices ETF returned 6.2%, which earned it a grade of A, as the Health category had an average return of -0.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

iShares US Medical Devices ETF has a trailing yield of 0.46%, which is below the 1.10% category average. The fund normally distributes its income quarterly and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

iShares US Medical Devices ETF Grades

Year to date, the ETF has returned -15.4%, 25.1 percentage points worse than the category, which translates into a grade of F. The fund has returned -11.7% over the past year (grade of F), -1.7% over the past three years (grade of F) and -3.4% per year over the past five years (grade of D) and 8.6% per year over the past 10 years (grade of C).

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