AHSAX vs. VGHCX

Last updated Jun 23, 2026

AHSAX (Alger Health Sciences Fund) and VGHCX (Vanguard Health Care Fund Investor Shares) are both Health & Biotech Equities funds. Over the past 10 years, AHSAX returned 9.16%/yr vs 9.42%/yr for VGHCX. Their correlation of 0.84 suggests significant overlap in exposure. AHSAX charges 1.05%/yr vs 0.33%/yr for VGHCX.

Performance

AHSAX vs. VGHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Health Sciences Fund (AHSAX) and Vanguard Health Care Fund Investor Shares (VGHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AHSAX achieves a 3.95% return, which is significantly higher than VGHCX's -1.85% return. Both investments have delivered pretty close results over the past 10 years, with AHSAX having a 9.16% annualized return and VGHCX not far ahead at 9.42%.

AHSAX

• 1D: 1.15%
• 1M: 3.58%
• YTD: 3.95%
• 6M: 2.16%
• 1Y: 28.11%
• 3Y*: 4.35%
• 5Y*: -1.77%
• 10Y*: 9.16%

VGHCX

• 1D: -0.50%
• 1M: -0.39%
• YTD: -1.85%
• 6M: -2.28%
• 1Y: 21.03%
• 3Y*: 8.94%
• 5Y*: 6.85%
• 10Y*: 9.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AHSAX vs. VGHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AHSAX Alger Health Sciences Fund	3.95%	10.14%	1.17%	-4.26%	-17.04%	3.26%	30.99%	22.02%	5.71%	33.06%
VGHCX Vanguard Health Care Fund Investor Shares	-1.85%	19.63%	8.99%	5.46%	-1.05%	14.36%	12.57%	22.93%	1.03%	19.59%

Correlation

The correlation between AHSAX and VGHCX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003	0.84

The correlation between AHSAX and VGHCX shifts across timeframes, from 0.74 (1 year) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AHSAX vs. VGHCX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AHSAX

AHSAX Risk / Return Rank: 48
AHSAX Sharpe Ratio Rank: 45
AHSAX Sortino Ratio Rank: 45
AHSAX Omega Ratio Rank: 39
AHSAX Calmar Ratio Rank: 65
AHSAX Martin Ratio Rank: 46

VGHCX

VGHCX Risk / Return Rank: 29
VGHCX Sharpe Ratio Rank: 25
VGHCX Sortino Ratio Rank: 29
VGHCX Omega Ratio Rank: 24
VGHCX Calmar Ratio Rank: 37
VGHCX Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AHSAX vs. VGHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Health Sciences Fund (AHSAX) and Vanguard Health Care Fund Investor Shares (VGHCX). 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	VGHCX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.35	+0.47
Sortino ratio: Return per unit of downside risk	2.61	2.09	+0.52
Omega ratio: Gain probability vs. loss probability	1.31	1.24	+0.07
Calmar ratio: Return relative to maximum drawdown	2.97	2.20	+0.77
Martin ratio: Return relative to average drawdown	9.10	5.88	+3.22

AHSAX vs. VGHCX - Sharpe Ratio Comparison

The current AHSAX Sharpe Ratio is 1.82, which is higher than the VGHCX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of AHSAX and VGHCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AHSAX vs. VGHCX - Drawdown Comparison

The maximum AHSAX drawdown since its inception was -46.23%, which is greater than VGHCX's maximum drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for AHSAX and VGHCX.

Drawdown Indicators

	AHSAX	VGHCX	Difference
Max Drawdown Largest peak-to-trough decline	-46.23%	-36.93%	-9.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-9.20%	-0.47%
Max Drawdown (3Y) Largest decline over 3 years	-23.11%	-16.08%	-7.03%
Max Drawdown (5Y) Largest decline over 5 years	-45.04%	-16.95%	-28.09%
Max Drawdown (10Y) Largest decline over 10 years	-45.04%	-27.18%	-17.86%
Current Drawdown Current decline from peak	-24.40%	-4.87%	-19.53%
Average Drawdown Average peak-to-trough decline	-14.73%	-5.24%	-9.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.43%	-0.28%

Volatility

AHSAX vs. VGHCX - Volatility Comparison

Alger Health Sciences Fund (AHSAX) has a higher volatility of 5.94% compared to Vanguard Health Care Fund Investor Shares (VGHCX) at 4.69%. This indicates that AHSAX's price experiences larger fluctuations and is considered to be riskier than VGHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AHSAX	VGHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.94%	4.69%	+1.25%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	10.62%	+1.79%
Volatility (1Y) Calculated over the trailing 1-year period	15.76%	14.92%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.16%	18.24%	+5.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.35%	17.65%	+5.70%

AHSAX vs. VGHCX - Expense Ratio Comparison

AHSAX has a 1.05% expense ratio, which is higher than VGHCX's 0.33% expense ratio.

Dividends

AHSAX vs. VGHCX - Dividend Comparison

AHSAX has not paid dividends to shareholders, while VGHCX's dividend yield for the trailing twelve months is around 6.73%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AHSAX Alger Health Sciences Fund	0.00%	0.00%	0.00%	0.00%	0.00%	27.18%	11.68%	6.98%	7.82%	0.00%	0.00%	0.00%
VGHCX Vanguard Health Care Fund Investor Shares	6.73%	6.00%	22.72%	7.17%	5.44%	8.31%	7.96%	11.82%	9.10%	7.30%	8.54%	8.16%

Frequently Asked Questions

Can I hold both AHSAX and VGHCX in my portfolio?

AHSAX and VGHCX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AHSAX or VGHCX?

AHSAX has higher volatility (5.94%) compared to VGHCX (4.69%). In terms of maximum drawdown, AHSAX dropped -46.23% vs VGHCX's -36.93%.

Which has better risk-adjusted returns?

AHSAX currently has the higher Sharpe Ratio (1.82 vs 1.35), 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.