“Hambright likes that margins are ‘strong, steady, and expanding,’ as volume and innovation offset pricing pressures,” according to Barron’s. “Then, of course, there are macro tailwinds, including an aging global population and expanding middle class and maturing medical care in emerging markets. While reimbursement pressure is an issue for some, he doesn’t think this, or policy changes, will hurt growth going forward.”

The $2.34 billion IHI recently turned 12 years old. IHI tracks the Dow Jones U.S. Select Medical Equipment Index. The ETF holds 56 stocks, including Medtronic Plc (NYSE: MDT), Abbott Laboratories (NYSE: ABT) and Thermo Fisher Scientific (NYSE: TMO).

IHI charges 0.44% per year, or $44 on a $10,000 investment.

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