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Launched · SEC filings

Milliman Healthcare Inflation Guard ETF

MHIGNYSE ArcaMillimanC

$20.640.00 (0.00%)

As of Nov 10, 2026, 9:46 AM ET

C40/ 100

Rank 26 of 37 in Multi-Asset Allocation

C40/100Rank 26 of 37inMulti-Asset Allocation
Intraday session: flat, 1 prints from 20.64 to 20.64. Range 20.64 to 20.64. Use the arrow keys to read each point.20.0021.5010 AM12 PM2 PM4 PM
Expense ratio
0.55%*
Fund size
$1M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
87
Avg volume · 30D
124 sh
52W range
low $19.64high $20.66
Launched
Filings
SEC EDGAR

*After a fee waiver that ends Apr 30, 2027. Without it: 0.58%.

The ETF.net MHIG Grade

C

Score 40 out of 100

Category
Multi-Asset Allocation⁠
Rank
26 of 37
Six-pillar profile for MHIG. Scores out of 100: Cost 53, Risk 72, Mission 53, Tradability 23, Holdings 24, Durability 22. Strongest: Risk (72). 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
47
This cap took
−7
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C53 out of 100
    Rank 17 of 37

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    C53 out of 100
    Rank 21 of 29

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A72 out of 100
    Rank 4 of 36

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F23 out of 100
    Rank 34 of 37

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F24 out of 100
    Rank 33 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 34 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 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$10,228
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$9,758
Aug 7, 2026 to Nov 9, 2026. MHIG $10,228. SPY $9,758. Use the arrow keys to read each point.$9,500$9,750$10,000$10,250Aug 2026Sep 2026Nov 2026

Aug 7, 2026 – Nov 9, 2026

Returns run to the Nov 9, 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 yearNo data
1 month+3.0%
3 months+2.3%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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+2.5%

Since listing, Apr 21, 2026

MHIG in the news

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 Nov 9, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Apr 2026. No distributions yet.

MHIG Risk

Risk pillarA72 out of 100Rank 4 of 36 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.
0.33
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.

FMP measures it over up to five years of monthly returns.

MHIG Cost

Compare MHIG and UCBG

Overpaying vs UCBG, cheapest in Multi-Asset Allocation

$9,634

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • MHIG 0.55%

    $10,904

  • UCBG 0.06% Cheapest

    $1,270

$10,000
30 years

Cost over time

  • MHIG 0.55%
  • UCBG 0.06%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530MHIG $10,904UCBG $1,270

Year by year

YearMHIGUCBGOverpaying
10$988$110$878
20$3,790$432$3,358
30$10,904$1,270$9,634
How the 0.55% is worked out

Full fee 0.58%− waiver 0.03%= you pay 0.55%

The waiver ends Apr 30, 2027. After that the fee is 0.58% unless Milliman renews it. Source: prospectus, Apr 2026.

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