AHSAX vs. BHCHX
AHSAX (Alger Health Sciences Fund) and BHCHX (Baron Health Care Fund) are both Health & Biotech Equities funds. Over the past 5 years, AHSAX returned -0.15%/yr vs 1.31%/yr for BHCHX. Their correlation of 0.89 suggests significant overlap in exposure. AHSAX charges 1.05%/yr vs 0.85%/yr for BHCHX.
Performance
AHSAX vs. BHCHX - Performance Comparison
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Returns By Period
In the year-to-date period, AHSAX achieves a 16.36% return, which is significantly higher than BHCHX's 5.32% return.
AHSAX
- 1D
- -0.38%
- 1M
- 13.62%
- 6M
- 13.72%
- YTD
- 16.36%
- 1Y
- 46.01%
- 3Y*
- 8.45%
- 5Y*
- -0.15%
- 10Y*
- 9.86%
BHCHX
- 1D
- -1.41%
- 1M
- 9.28%
- 6M
- 4.88%
- YTD
- 5.32%
- 1Y
- 25.96%
- 3Y*
- 6.69%
- 5Y*
- 1.31%
- 10Y*
- —
AHSAX vs. BHCHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AHSAX Alger Health Sciences Fund | 16.36% | 10.14% | 1.17% | -4.26% | -17.04% | 3.26% | 30.99% | 11.21% |
BHCHX Baron Health Care Fund | 5.32% | 10.28% | 1.55% | 6.42% | -16.90% | 15.71% | 47.71% | 18.75% |
Correlation
The correlation between AHSAX and BHCHX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 17, 2019 | 0.89 |
The correlation between AHSAX and BHCHX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.
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Return for Risk
AHSAX vs. BHCHX — Risk / Return Rank
AHSAX
BHCHX
AHSAX vs. BHCHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Health Sciences Fund (AHSAX) and Baron Health Care Fund (BHCHX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AHSAX | BHCHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.26 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 4.59 | 1.74 | +2.85 |
| Martin ratioReturn relative to average drawdown | 14.81 | 3.86 | +10.95 |
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Drawdowns
AHSAX vs. BHCHX - Drawdown Comparison
The maximum AHSAX drawdown since its inception was -46.23%, which is greater than BHCHX's maximum drawdown of -28.53%. Use the drawdown chart below to compare losses from any high point for AHSAX and BHCHX.
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Drawdown Indicators
| AHSAX | BHCHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.23% | -28.53% | -17.70% |
Max Drawdown (1Y)Largest decline over 1 year | -9.67% | -14.24% | +4.57% |
Max Drawdown (3Y)Largest decline over 3 years | -23.11% | -20.51% | -2.60% |
Max Drawdown (5Y)Largest decline over 5 years | -45.04% | -28.53% | -16.51% |
Max Drawdown (10Y)Largest decline over 10 years | -45.04% | — | — |
Current DrawdownCurrent decline from peak | -15.37% | -2.14% | -13.23% |
Average DrawdownAverage peak-to-trough decline | -14.74% | -10.98% | -3.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 6.42% | -3.42% |
Volatility
AHSAX vs. BHCHX - Volatility Comparison
Alger Health Sciences Fund (AHSAX) and Baron Health Care Fund (BHCHX) have volatilities of 5.54% and 5.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AHSAX | BHCHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 5.48% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 13.14% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.45% | 16.35% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.27% | 17.22% | +7.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.33% | 19.75% | +3.58% |
AHSAX vs. BHCHX - Expense Ratio Comparison
AHSAX has a 1.05% expense ratio, which is higher than BHCHX's 0.85% expense ratio.
Dividends
AHSAX vs. BHCHX - Dividend Comparison
Neither AHSAX nor BHCHX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AHSAX Alger Health Sciences Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 27.18% | 11.68% | 6.98% | 7.82% |
BHCHX Baron Health Care Fund | 0.00% | 0.00% | 0.49% | 0.00% | 0.00% | 1.41% | 0.99% | 0.00% | 0.00% |
Frequently Asked Questions
AHSAX and BHCHX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AHSAX has higher volatility (5.54%) compared to BHCHX (5.48%). In terms of maximum drawdown, AHSAX dropped -46.23% vs BHCHX's -28.53%.
AHSAX currently has the higher Sharpe Ratio (2.70 vs 1.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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