I've been noticing a distinct weight gain on my toon, and have determined it's from all the darned poisons I carry, as well as a surfeit of health potions and the like. So I've gotten into the habit of unloading most on my follower. Well, one day I had a few minor invisibility potions. I rarely use these when with a follower for obvious reasons, but kept one and gave the rest to Iona. Out on the trail, we found something to attack. I always go to sneak mode and grab my bow when I see trouble ahead. All of a sudden I see a transparent liquid pass me that had the shape of Iona! Sure enough, she was invisible, and the mob attacked me instead. But she closed with it and dealt the death blow. A day or two later, Mjoll did the same thing.
I don't know if they use anything else, though. I think I need to keep track of what I give them, or hire Calcelmo to do it. Somehow he noticed I gave Mjoll a dwarven shield, said he wondered how one turned up in Riften!