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Launched · SEC filings

Milliman Healthcare Inflation Plus ETF

MHIPNYSE ArcaC

$20.890.00 (+0.01%)

As of Oct 13, 2026, 9:46 AM

C40/ 100

Rank 16 of 25 in Health Care (Broad)

C40/100Rank 16 of 25inHealth Care (Broad)
Intraday session: up, 1 prints from 20.89 to 20.89. Range 20.89 to 20.89. Use the arrow keys to read each point.20.8920.8920.8920.8920.8910 AM12 PM2 PM4 PM
Expense ratio
0.55%
Fund size
$2M
1Y total return
—
Yield · Last 12 months
—
Holdings
90
Avg volume · 30D
0M sh
NAV per share
$20.85
52W range
low $19.45high $22.57
Launched
Filings
SEC EDGAR

The ETF.net MHIP Grade

C

Score 40 out of 100

Category
Health Care (Broad)⁠
Rank
16 of 25
Six-pillar profile for MHIP. Scores out of 100: Cost 42, Risk 80, Mission 75, Tradability 27, Holdings 25, Durability 20. Strongest: Risk (80). Weakest: Durability (20). Leans toward Risk and Mission.

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
43
This cap took
−3
Published Score
40 Grade C

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C42 out of 100
    Rank 15 of 25

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A75 out of 100
    Rank 6 of 11

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A80 out of 100
    Rank 1 of 24

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D27 out of 100
    Rank 19 of 25

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D25 out of 100
    Rank 23 of 25

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F20 out of 100
    Rank 25 of 25

Our read on MHIP

ETF.net Research

CMost health-care ETFs track the sector's stocks. MHIP aims at its bills: a multi-asset, US-focused portfolio whose stated goal is returns above U.S. healthcare cost inflation. Different yardstick, different fund.

Stated mandate

The Fund seeks to generate returns before fees and expenses that, over time, exceed U.S. healthcare cost inflation.

Why people hold it

  1. 01The benchmark is a cost, not a stock index. The prospectus goal is returns, before fees, above U.S. healthcare cost inflation, a yardstick the sector's big index trackers don't use.
  2. 02Multi-asset by design. The mandate isn't limited to healthcare equities and runs an advertised factor approach rather than a market-cap ladder, with a US focus.
  3. 03The paperwork is specific: sector, geography and objective are all pinned down in SEC filings, and the portfolio has matched the mission it advertises.

Worth knowing

  1. 01Costs 0.55% a year, above the typical health-care sector fund and several times what plain index trackers such as VHT, XLV and FHLC charge.
  2. 02Launched in 2026, still small and thinly traded, so spreads and fill quality matter more here than with the sector's household-name funds.
  3. 03Short history. There's no full-cycle record yet showing how the strategy behaves when markets and healthcare costs move in opposite directions.

MHIP Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
90
Top-10 weight
72%
Largest holding
United States Treasury Bill 11/19/202615.5%

Geography

  • United States99.22%
  • Ireland0.78%
The fund’s holdings, weight-ordered — page 1 of 6.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 11/19/202615.49%243,300$242K56
002LLYEli Lilly & Co12.82%170$200K583
003SPYMState Street SPDR Portfolio S&P 500 ETF10.82%1,847$169K26
004XFIVBondBloxx Bloomberg Five Year Target Duration US Treasury ETF10.78%3,609$169K3
005XHLFBondBloxx Bloomberg Six Month Target Duration US Treasury ETF5.76%1,795$90K5
006ABBVAbbVie Inc4.77%270$75K522
007JNJJohnson & Johnson4.01%240$63K528
008AMGNAmgen Inc3.00%113$47K491
009TMOThermo Fisher Scientific Inc2.52%60$39K375
010GILDGilead Sciences Inc2.44%252$38K492
011—4GLD Us 11/19/26 C351.76 Flx1.83%8$29K1
012ISRGIntuitive Surgical Inc1.65%61$26K410
013DHRDanaher Corp1.43%102$22K331
014ABTAbbott Laboratories1.39%219$22K376
015PFEPfizer Inc1.37%759$21K378

Showing 1–15 of 90 holdings

MHIP 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.
MHIP$10,336
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. MHIP $10,336. SPY $10,332. Use the arrow keys to read each point.$9,588$10,126$10,663Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

Returns run to the Oct 12, 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 MHIP. Periods over one year show the average yearly return.
PeriodMHIP
Year to dateFund launched this year—
1 month+1.8%
3 months+3.4%
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 MHIP
YearReturn barMHIP
2026 YTD+5.5%

Since listing, Apr 21, 2026

MHIP in the news

Filtered to MHIP · Health Care (Broad)

MHIP 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 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Apr 2026. No distributions yet.

MHIP Risk

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.
0.27
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.

MHIP Cost

Expense ratio0.55%
  • The middle half of Health Care (Broad) funds
  • Median 0.50%

14 of the 25 Health Care (Broad) funds charge less.

MHIP costs $55.00 a year on $10,000. The median Health Care (Broad) fund costs $50.00.

Other funds in Health Care (Broad)

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