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Launched · SEC filings

Milliman Healthcare Inflation Guard ETF

MHIGNYSE ArcaMillimanC

$20.270.00 (0.00%)

As of Oct 21, 2026, 9:46 AM ET

C40/ 100

Rank 27 of 37 in Multi-Asset Allocation

C40/100Rank 27 of 37inMulti-Asset Allocation
Intraday session: flat, 1 prints from 20.27 to 20.27. Range 20.27 to 20.27. Use the arrow keys to read each point.19.5020.0021.0010 AM12 PM2 PM4 PM
Expense ratio
0.55%
Fund size
$1M
1Y total return
—
Yield · Last 12 months
—
Holdings
83
Avg volume · 30D
127 sh
NAV per share
$20.15
52W range
low $19.64high $20.59
Launched
Filings
SEC EDGAR

The ETF.net MHIG Grade

C

Score 40 out of 100

Category
Multi-Asset Allocation⁠
Rank
27 of 37
Six-pillar profile for MHIG. Scores out of 100: Cost 54, Risk 65, Mission 38, Tradability 25, Holdings 34, Durability 22. Strongest: Risk (65). Weakest: Durability (22). Leans toward Risk.

Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
44
This cap took
−4
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C54 out of 100
    Rank 17 of 37

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    D38 out of 100
    Rank 26 of 29

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B65 out of 100
    Rank 8 of 35

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D25 out of 100
    Rank 32 of 37

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D34 out of 100
    Rank 28 of 33

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F22 out of 100
    Rank 35 of 37

Our read on MHIG

ETF.net Research

In short

CMost of the health care aisle bets on drug and device stocks. MHIG aims at the bill instead, seeking returns that match the U.S. healthcare cost inflation rate through a quant-selected mix of equities, debt and commodities.

Stated mandate

The Fund seeks returns that generally match the U.S. healthcare cost inflation rate. It uses a combination of healthcare-related equities, debt, commodities, and other instruments selected through a proprietary quantitative model.

Why people hold it

  • The benchmark is a rate, not a stock index: the fund seeks returns that generally match the U.S. healthcare cost inflation rate.
  • Multi-asset by design: healthcare equities, debt, commodities and other instruments picked by a quantitative model, not a cap-weighted ladder of big pharma.
  • A genuinely unusual mandate in a cohort where the best-regarded names (VHT, FHLC, XLV) are all cap-weighted US healthcare equity index funds.
  • Standard 1940 Act ETF wrapper with a US focus, so the plumbing is conventional even though the strategy is not.

Worth knowing

  • At 0.55% it sits above the health care cohort median of 0.50%, and far above plain index trackers such as VHT (0.09%) and XLV (0.08%).
  • Launched in 2026, so the track record is short, and the selection model is proprietary: you get the holdings, not the recipe.
  • Small and thinly traded next to the aisle's heavyweights, which means spreads and execution costs carry more weight.

MHIG Holdings

Holdings pillarD34 out of 100Rank 28 of 33 in Multi-Asset AllocationAs of Oct 21, 2026
Asset class
Stocks
Holdings
83
Top-10 weight
82%
Largest holding
XFIV20.4%

Geography

  • United States99.14%
  • Ireland0.86%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1XFIVBondBloxx Bloomberg Five Year Target Duration US Treasury ETF20.35%4,367$205K3
2—United States Treasury Bill 11/19/202620.32%205,400$205K58
3XHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETF19.52%3,918$197K5
4SPYState Street SPDR S&P 500 ETF Trust6.47%85$65.2K42
5LLYEli Lilly & Co6.16%50$62K583
6JNJJohnson & Johnson2.57%102$25.9K526
7ABBVAbbVie Inc2.47%88$24.9K523
8TMOThermo Fisher Scientific Inc1.62%24$16.3K379
9GILDGilead Sciences Inc1.32%87$13.3K492
10AMGNAmgen Inc1.10%26$11K499
11DHRDanaher Corp1.02%46$10.3K333
12ABTAbbott Laboratories0.91%88$9.16K371
13UNHUnitedHealth Group Inc0.85%21$8.54K485
14—4GLD Us 11/19/26 C372.46 Flx0.82%6$8.27K1
15ISRGIntuitive Surgical Inc0.82%19$8.23K409

Showing 1–15 of 83 holdings

MHIG Performance

Launched Apr 21, 2026

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
MHIG$10,295
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,389
Jul 20, 2026 to Oct 20, 2026. MHIG $10,295. SPY $10,389. Use the arrow keys to read each point.$10,000$10,250$10,500Jul 2026Sep 2026Oct 2026

Jul 20, 2026 – Oct 20, 2026

Returns run to the Oct 20, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for MHIG. Periods over one year show the average yearly return.
PeriodMHIG
Year to dateFund launched this year—
1 month+0.8%
3 months+2.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MHIG
YearReturn barMHIG
2026 YTD+0.6%

Since listing, Apr 21, 2026

MHIG in the news

Filtered to MHIG · Multi-Asset Allocation

MHIG Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 20, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

MHIG Risk

Risk pillarB65 out of 100Rank 8 of 35 in Multi-Asset Allocation
How much the fund’s monthly returns vary, scaled to a year.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Apr 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.36
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MHIG Cost

Cost pillarC54 out of 100Rank 17 of 37 in Multi-Asset Allocation
Expense ratio0.55%
  • Middle half of Multi-Asset Allocation funds
  • Median 0.58%

16 of the 37 Multi-Asset Allocation funds charge less.

MHIG costs $55.00 a year on $10,000. The median Multi-Asset Allocation fund costs $58.00.

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