GGHCX vs. FBTAX

Last updated Jun 4, 2026

GGHCX (Invesco Health Care Fund) and FBTAX (Fidelity Advisor Biotechnology Fund Class A) are both Health & Biotech Equities funds. Over the past 10 years, GGHCX returned 6.18%/yr vs 10.51%/yr for FBTAX. A 0.79 correlation means they provide meaningful diversification when combined. GGHCX charges 1.04%/yr vs 1.00%/yr for FBTAX.

Performance

GGHCX vs. FBTAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Health Care Fund (GGHCX) and Fidelity Advisor Biotechnology Fund Class A (FBTAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GGHCX achieves a -7.49% return, which is significantly lower than FBTAX's -0.83% return. Over the past 10 years, GGHCX has underperformed FBTAX with an annualized return of 6.18%, while FBTAX has yielded a comparatively higher 10.51% annualized return.

GGHCX

• 1D: -1.62%
• 1M: -1.75%
• YTD: -7.49%
• 6M: -9.37%
• 1Y: 5.88%
• 3Y*: 4.48%
• 5Y*: 2.39%
• 10Y*: 6.18%

FBTAX

• 1D: -3.05%
• 1M: -5.57%
• YTD: -0.83%
• 6M: -4.16%
• 1Y: 44.32%
• 3Y*: 16.99%
• 5Y*: 9.26%
• 10Y*: 10.51%

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

GGHCX vs. FBTAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GGHCX Invesco Health Care Fund	-7.49%	15.48%	3.96%	3.05%	-13.53%	12.05%	14.52%	32.01%	0.27%	15.51%
FBTAX Fidelity Advisor Biotechnology Fund Class A	-0.83%	39.54%	5.37%	10.70%	-7.95%	-3.10%	32.17%	25.74%	-3.86%	25.80%

Correlation

The correlation between GGHCX and FBTAX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Dec 28, 2000	0.79

The correlation between GGHCX and FBTAX has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

Return for Risk

GGHCX vs. FBTAX — Risk / Return Rank

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

GGHCX

GGHCX Risk / Return Rank: 5
GGHCX Sharpe Ratio Rank: 6
GGHCX Sortino Ratio Rank: 6
GGHCX Omega Ratio Rank: 5
GGHCX Calmar Ratio Rank: 5
GGHCX Martin Ratio Rank: 5

FBTAX

FBTAX Risk / Return Rank: 62
FBTAX Sharpe Ratio Rank: 50
FBTAX Sortino Ratio Rank: 47
FBTAX Omega Ratio Rank: 40
FBTAX Calmar Ratio Rank: 93
FBTAX Martin Ratio Rank: 81

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.

GGHCX vs. FBTAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Health Care Fund (GGHCX) and Fidelity Advisor Biotechnology Fund Class A (FBTAX). 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.

	GGHCX	FBTAX	Difference
Sharpe ratio: Return per unit of total volatility	0.46	2.10	-1.64
Sortino ratio: Return per unit of downside risk	0.74	2.87	-2.13
Omega ratio: Gain probability vs. loss probability	1.08	1.34	-0.26
Calmar ratio: Return relative to maximum drawdown	0.44	5.18	-4.74
Martin ratio: Return relative to average drawdown	1.02	15.20	-14.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GGHCX vs. FBTAX - Sharpe Ratio Comparison

The current GGHCX Sharpe Ratio is 0.46, which is lower than the FBTAX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of GGHCX and FBTAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GGHCX	FBTAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.46	2.10	-1.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.40	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.43	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.31	+0.26

Drawdowns

GGHCX vs. FBTAX - Drawdown Comparison

The maximum GGHCX drawdown since its inception was -40.23%, smaller than the maximum FBTAX drawdown of -63.55%. Use the drawdown chart below to compare losses from any high point for GGHCX and FBTAX.

Drawdown Indicators

	GGHCX	FBTAX	Difference
Max Drawdown Largest peak-to-trough decline	-40.23%	-63.55%	+23.32%
Max Drawdown (1Y) Largest decline over 1 year	-13.53%	-8.91%	-4.62%
Max Drawdown (3Y) Largest decline over 3 years	-16.86%	-32.86%	+16.00%
Max Drawdown (5Y) Largest decline over 5 years	-25.37%	-36.51%	+11.14%
Max Drawdown (10Y) Largest decline over 10 years	-29.34%	-38.82%	+9.48%
Current Drawdown Current decline from peak	-11.85%	-8.91%	-2.94%
Average Drawdown Average peak-to-trough decline	-8.82%	-21.22%	+12.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.80%	3.03%	+2.77%

Volatility

GGHCX vs. FBTAX - Volatility Comparison

The current volatility for Invesco Health Care Fund (GGHCX) is 4.40%, while Fidelity Advisor Biotechnology Fund Class A (FBTAX) has a volatility of 7.10%. This indicates that GGHCX experiences smaller price fluctuations and is considered to be less risky than FBTAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GGHCX	FBTAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	7.10%	-2.70%
Volatility (6M) Calculated over the trailing 6-month period	10.12%	16.71%	-6.59%
Volatility (1Y) Calculated over the trailing 1-year period	13.09%	22.10%	-9.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.53%	23.47%	-7.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.45%	24.42%	-6.97%

GGHCX vs. FBTAX - Expense Ratio Comparison

GGHCX has a 1.04% expense ratio, which is higher than FBTAX's 1.00% expense ratio.

Dividends

GGHCX vs. FBTAX - Dividend Comparison

GGHCX's dividend yield for the trailing twelve months is around 6.15%, more than FBTAX's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBTAX Fidelity Advisor Biotechnology Fund Class A	1.47%	1.45%	6.00%	1.15%	0.00%	20.12%	8.37%	6.77%	2.50%	0.00%	0.00%	5.36%
GGHCX Invesco Health Care Fund	6.15%	5.69%	5.17%	0.00%	0.00%	24.69%	6.44%	3.51%	8.81%	6.88%	2.24%	15.07%

Frequently Asked Questions

Can I hold both GGHCX and FBTAX in my portfolio?

GGHCX and FBTAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GGHCX or FBTAX?

FBTAX has higher volatility (7.10%) compared to GGHCX (4.40%). In terms of maximum drawdown, GGHCX dropped -40.23% vs FBTAX's -63.55%.

Which has better risk-adjusted returns?

FBTAX currently has the higher Sharpe Ratio (2.10 vs 0.46), 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.