This ETF focuses in on an interesting and often forgotten segment of the health care industry, the medical device makers. Companies in this segment tend to have more stable revenue streams, less issues with patent pipelines, and are often much smaller than their counterparts in big pharma. As a result of their size, many of the companies in IHI are found in very small quantities in large diversified health care ETFs such as XLV making IHI an interesting play to 'complete' exposure to the industry. However, while the industry may not have the same patent issues as pharma or the volatility of the biotech industry, it does have incredibly high levels of competition. This is because any commodity type products are easy to replicate while any patented products are often not crucial to a hospital and instead just make life a lot easier or more efficient for medical personnel, making these goods more 'luxury' in nature. Overall, IHI offers a nice mix of exposure in the industry and could be an excellent choice for investors who already are heavy in holdings to the pharma or broad health care industry but are still looking to round out overall exposure.