Health Care Providers vs the S&P 500 (IHF): is it outperforming?
Over the past month, IHF has outperformed the S&P 500 by 8.0 points. Here is where that puts it in the sector rotation — updated daily.
Where IHF sits on the rotation map
Health Care Providers highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
IHF vs SPY: head-to-head returns
IHF (health care providers) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means IHF won that window.
Data as of 2026-07-22 · computed from daily adjusted closes · how we measure
The read
Health Care Providers (IHF) sits in the leading quadrant of the rotation map: it has decisively beaten the S&P 500 by 8.0 points over the past month, on top of a 7.1-point advantage over the longer, time-shifted window. Ranked by one-month spread, it currently stands #12 of the 115 groups Zensei tracks.
On the shorter tape, IHF's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. IHF's relative-strength line has dropped below its moving averages — the outperformance trend is fading. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via iShares U.S. Healthcare Providers ETF, whose 60 tracked holdings are led by UNITEDHEALTH GROUP INC, CVS HEALTH CORP and ELEVANCE HEALTH INC. Weighted by portfolio, the fund's holdings trade at roughly 33.4× earnings and 2.0× sales. The thing to watch from here is durability: leaders that hold their one-month spread while the longer window keeps building tend to stay leaders; a fading spread is the early exit signal.
What's inside IHF
Top 5 of 60 tracked holdings, by portfolio weight.
Health Care Providers vs the market — common questions
Is health care providers outperforming the S&P 500?
Right now, yes: over the past month IHF has outperformed the S&P 500 by 8.0 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is IHF?
IHF is iShares U.S. Healthcare Providers ETF, the fund Zensei uses to measure the health care providers group against the S&P 500 benchmark (SPY).
Which stocks are in IHF?
IHF's largest tracked positions are UNITEDHEALTH GROUP INC, CVS HEALTH CORP, ELEVANCE HEALTH INC, HCA HEALTHCARE INC, HUMANA INC — 60 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is health care providers in right now?
As of the latest daily data, health care providers is in the leading quadrant — outperforming the S&P 500 on both the recent and the longer, time-shifted window. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track health care providers against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.