At a glance
IHF charges 0.37% a year, above the 0.34% average of the 6 funds most like it (the 4th cheapest of 7). It has $1.18B in assets, the 3rd largest of that group; it paid 0.91% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +16.5% with distributions reinvested (S&P 500: +11.5%), the weakest of those 7 funds; over three years it returned +7.7% a year. At its worst it fell 35.2% in the 2020 crash (S&P 500: 33.7%) and 19.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 26 months after the lows. Its ten largest positions make up 72.1% of the fund, out of 61 in all.
The short version
iShares U.S. Healthcare Providers ETF (IHF) is a BlackRock index fund that tracks the Dow Jones U.S. Select Health Care Providers Index. The index holds U.S. health insurers, hospital operators, labs and care-facility companies. The fund is highly concentrated: as of June 30, 2026, UnitedHealth Group made up about 22% of assets and CVS Health about 15%. Its 0.37% expense ratio is above the 0.34% average of similar funds and far above XLV's 0.08%.
Price history
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IHF +16.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IHF official prospectus, to Dec 31, 2025 | — | +0.91% | — | +1.23% | +7.83% | — |
| S&P Total Market Index index, same period | — | +17.05% | — | +13.07% | +14.22% | — |
| IHF price data to Oct 27, 2026 | +24.5% | +16.5% | +7.7% | +2.4% | +10.8% | +9.9% |
- Over the year to Oct 27, 2026, IHF returned +16.5%, 7th of 7 among similar funds.
- Its 5-year annualized return was +2.4% and its 10-year +10.8%.
- In the 2020 COVID crash it fell 35.2% and regained its old high 6.5 months after the low.
- Its worst full calendar year was 2008 (-42.9%); its best was 2013 (+36.3%).
- The deepest fall in its price history was 58.4% (Dec 26, 2007 to Nov 20, 2008), recovered by Apr 27, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +24.5% | — |
| 2025 | +0.9% | +0.91% |
| 2024 | -7.9% | -7.88% |
| 2023 | -1.1% | -1.06% |
| 2022 | -7.1% | -7.09% |
| 2021 | +24.5% | +24.37% |
| 2020 | +17.7% | +17.64% |
| 2019 | +22.4% | +22.44% |
| 2018 | +9.6% | +9.61% |
| 2017 | +25.4% | +25.48% |
| 2016 | +1.0% | +0.90% |
| 2015 | +5.3% | — |
| 2014 | +27.1% | — |
| 2013 | +36.3% | — |
| 2012 | +16.5% | — |
| 2011 | +9.3% | — |
| 2010 | +11.3% | — |
| 2009 | +35.4% | — |
| 2008 | -42.9% | — |
| 2007 | +16.8% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 54.8% over that stretch · deepest drop along the way 58.4%, back to its old high 29.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35.2% over that stretch · deepest drop along the way 35.2%, back to its old high 6.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 12.3% over that stretch · deepest drop along the way 19.1%, back to its old high 26.4 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.3200 | |
| 2025 | $0.5000 | +22.0% |
| 2024 | $0.4100 | -1.4% |
| 2023 | $0.4160 | +5.1% |
| 2022 | $0.3960 | +21.5% |
| 2021 | $0.3260 | +30.4% |
| 2020 | $0.2500 | +5.9% |
| 2019 | $0.2360 | -82.1% |
| 2018 | $1.3220 | +2103.3% |
| 2017 | $0.0600 | -6.3% |
| 2016 | $0.0640 | +28.0% |
| 2015 | $0.0500 | +78.6% |
| 2014 | $0.0280 | +218.2% |
| 2013 | $0.0088 | -64.7% |
| 2012 | $0.0249 | +678.1% |
| 2011 | $0.0032 | -20.0% |
| 2010 | $0.0040 | -95.5% |
| 2008 | $0.0880 | +158.1% |
| 2007 | $0.0341 |
What's inside
As of Jun 30, 2026, the fund held 61 securities; the ten largest made up 72.13% of assets. It also reported 3.4% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| UNITEDHEALTH GROUP INCORPORATED | 21.91% | |
| CVS HEALTH CORPORATION | 14.79% | |
| ELEVANCE HEALTH, INC. | 7.13% | |
| HUMANA INC. | 4.68% | |
| HCA HEALTHCARE, INC. | 4.49% | |
| CENTENE CORPORATION | 4.22% | |
| THE CIGNA GROUP | 4.00% | |
| VEEVA SYSTEMS INC. | 3.98% | |
| QUEST DIAGNOSTICS INCORPORATED | 3.51% | |
| LABCORP HOLDINGS INC. | 3.43% | |
| GUARDANT HEALTH, INC. | 2.97% | |
| TENET HEALTHCARE CORPORATION | 2.41% | |
| MOLINA HEALTHCARE, INC. | 1.78% | |
| BRIGHTSPRING HEALTH SERVICES, INC. | 1.65% | |
| ENCOMPASS HEALTH CORPORATION | 1.50% |
By country
United States 99.93%By asset type
Stocks 99.93%By sector
Sectors of the companies held, for the 65.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $295.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +15.12%, +4.18%, +10.20%.
How it works
IHF follows the Dow Jones U.S. Select Health Care Providers Index. That index is run by S&P Dow Jones Indices, which decides which companies get in and how much weight each one gets. It covers healthcare providers. These include owners and operators of health maintenance organizations (HMOs, a type of managed-care health insurer), hospitals, clinics, dental and eye care centers, nursing homes, and rehabilitation and retirement centers. Large, mid-sized and small companies can all qualify. As of June 30, 2026, the fund held 61 companies, and the top 10 made up about 72% of assets.
BlackRock Fund Advisors uses "representative sampling." That means the fund holds a group of stocks chosen to behave like the index, so it may not own every index member. It must keep at least 80% of net assets in index components. It may also hold cash, money market funds and derivatives such as futures. As of June 30, 2026, it held one health care futures contract with a very small weight.
The fund is classified as non-diversified, so it can put more money into a few companies than a diversified fund can. It may lend out up to one-third of its total assets to earn extra income. Its 3.4% cash position is likely collateral from that lending. Portfolio turnover was 37%. The fund does not try to beat the index or take defensive positions when markets fall.
What it really costs
- IHF charges 0.37% a year, versus an average of 0.34% for the similar funds below (4th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $38 in the first year and $468 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IHF | $38 | $119 | $208 | $468 |
In a retirement portfolio
IHF is a non-diversified fund focused on one corner of health care, and UnitedHealth Group alone made up about 22% of assets as of June 30, 2026.
IHF gives targeted exposure to health insurers and care providers. This group hasn't always moved with the broader market: the fund's one-year beta (a measure of how much it moves with the market) was 0.3 as of October 27, 2026. But it has had deep drops. It fell 58.4% from December 2007 to November 2008 and took about 29 months after the low to recover. It fell 35.2% in early 2020 and recovered in about 6.5 months. It fell 19.1% in 2022 and didn't recover until August 2024. Its worst calendar year was 2008, down 42.9%. Anyone who must sell shares during a stretch like that would lock in losses. The trailing yield was 0.91% as of October 27, 2026, paid quarterly, which is modest for income. In the SEC's standard example, fees on $10,000 come to $38 in the first year. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a focused stake in U.S. health insurers, hospitals and labs, led by UnitedHealth Group, CVS Health and Elevance Health.
- Those who already own a broad core fund and want a small position that has moved less in step with the market (one-year beta 0.3).
- Investors who prefer an established fund: launched in 2006, with $1.18 billion in net assets as of June 30, 2026.
Look elsewhere if
- Those wanting broad, low-cost health care exposure: XLV charges 0.08% and FHLC 0.084%, compared with IHF's 0.37%.
- Retirees looking for meaningful income: the trailing yield was 0.91% as of October 27, 2026.
- Investors uneasy with concentration: the top 10 holdings made up about 72% of assets, and UnitedHealth about 22%, as of June 30, 2026.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IHF this fund | — | 0.37% | $1.18B | +16.5% | +7.7% |
| XHS SPDR S&P Health Care Services ETF | 39% | 0.35% | $139.9M | +33.7% | +22.1% |
| FXH First Trust Health Care AlphaDEX Fund | 21% | 0.6% | $1.05B | +19.7% | +15.1% |
| RSPH Invesco S&P 500 Equal Weight Health Care ETF | 19% | 0.4% | $766.9M | +28.4% | +16.6% |
| XLV Health Care Select Sector SPDR Fund | 16% | 0.08% | $40.60B | +30.2% | +16.2% |
| FHLC Fidelity MSCI Health Care Index ETF | 15% | 0.084% | $3.29B | +23.8% | +16.0% |
| PINK Simplify Health Care ETF | 15% | 0.5% | $358.6M | +21.1% | +20.0% |
Questions investors ask
What does IHF invest in?
IHF invests in U.S. healthcare provider stocks. It tracks the Dow Jones U.S. Select Health Care Providers Index, which includes health insurers, hospital operators, clinics, labs, nursing homes and rehabilitation centers. As of June 30, 2026, it held 61 companies. The largest were UnitedHealth Group (about 22%), CVS Health (about 15%), Elevance Health (about 7%), Humana, HCA Healthcare, Centene and The Cigna Group. The top 10 made up about 72% of the fund.
What's the difference between IHF and XHS?
Both ETFs focus on healthcare services, and SPDR S&P Health Care Services ETF (XHS) shares more holdings with IHF than any other similar fund. Their costs are close: XHS charges 0.35% and IHF 0.37%. XHS has done better lately. As of October 27, 2026, its one-year price return was 33.7%, compared with 16.5% for IHF. Its three-year average was 22.1% a year, compared with 7.7%. IHF is much larger, at $1.18 billion compared with about $140 million as of June 30, 2026.
Does IHF pay dividends?
Yes. IHF pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $0.54 per share, for a trailing yield of 0.91%. That is a small payout. The fund's main purpose is exposure to healthcare provider stocks, not income. Investors who need regular cash flow from a portfolio may want to compare it with funds built around dividends.
What is IHF's expense ratio?
IHF's expense ratio is 0.37%, according to its prospectus filed July 27, 2026, and there is no fee waiver. That is slightly above the 0.34% average of similar funds and well above broad health care funds such as XLV (0.08%). In the SEC's standard example, which assumes $10,000 invested and a 5% annual return, total costs would be about $38 after one year, $119 after three, $208 after five and $468 after ten.
How has IHF performed over the last 10 years?
IHF has lagged the broad U.S. market over the long term. As of December 31, 2025, its average annual return was 7.83% over 10 years and 1.23% over five years. For the S&P Total Market Index, those figures were 14.22% and 13.07%. The fund lost money in 2022, 2023 and 2024. It rebounded in 2026, up 24.5% year to date through October 27, 2026. Past results don't predict future returns.