PGHAX vs. AHSAX
PGHAX (Putnam Global Health Care Fund) and AHSAX (Alger Health Sciences Fund) are both Health & Biotech Equities funds. Over the past 5 years, PGHAX returned 6.90%/yr vs 0.59%/yr for AHSAX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. PGHAX charges 0.72%/yr vs 1.05%/yr for AHSAX.
Performance
PGHAX vs. AHSAX - Performance Comparison
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Returns By Period
In the year-to-date period, PGHAX achieves a 4.47% return, which is significantly lower than AHSAX's 23.38% return.
PGHAX
- 1D
- -1.29%
- 1M
- -2.83%
- 6M
- 3.64%
- YTD
- 4.47%
- 1Y
- 24.95%
- 3Y*
- 9.46%
- 5Y*
- 6.90%
- 10Y*
- —
- ALL TIME*
- 9.49%
AHSAX
- 1D
- 0.64%
- 1M
- 7.49%
- 6M
- 23.38%
- YTD
- 23.38%
- 1Y
- 55.59%
- 3Y*
- 10.53%
- 5Y*
- 0.59%
- 10Y*
- 10.07%
- ALL TIME*
- 7.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PGHAX vs. AHSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PGHAX Putnam Global Health Care Fund | 4.47% | 15.58% | 1.69% | 9.48% | -4.39% | 19.99% | 13.35% |
AHSAX Alger Health Sciences Fund | 23.38% | 10.14% | 1.17% | -4.26% | -17.04% | 3.26% | 22.22% |
Correlation
The correlation between PGHAX and AHSAX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | 0.75 |
The correlation between PGHAX and AHSAX has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.
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Return for Risk
PGHAX vs. AHSAX — Risk / Return Rank
PGHAX
AHSAX
PGHAX vs. AHSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Global Health Care Fund (PGHAX) and Alger Health Sciences Fund (AHSAX). 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.
| PGHAX | AHSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.61 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.53 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 5.55 | -3.08 |
| Martin ratioReturn relative to average drawdown | 6.05 | 17.97 | -11.92 |
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Drawdowns
PGHAX vs. AHSAX - Drawdown Comparison
The maximum PGHAX drawdown since its inception was -20.52%, smaller than the maximum AHSAX drawdown of -46.23%. Use the drawdown chart below to compare losses from any high point for PGHAX and AHSAX.
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Drawdown Indicators
| PGHAX | AHSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.52% | -46.23% | +25.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -9.67% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -20.52% | -23.11% | +2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -20.52% | -45.04% | +24.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.04% | — |
Current DrawdownCurrent decline from peak | -3.02% | -10.27% | +7.25% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -14.73% | +9.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 2.99% | +0.96% |
Volatility
PGHAX vs. AHSAX - Volatility Comparison
The current volatility for Putnam Global Health Care Fund (PGHAX) is 5.61%, while Alger Health Sciences Fund (AHSAX) has a volatility of 6.39%. This indicates that PGHAX experiences smaller price fluctuations and is considered to be less risky than AHSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PGHAX | AHSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 6.39% | -0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 13.29% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.20% | 16.89% | -1.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.71% | 24.31% | -9.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.55% | 23.37% | -8.82% |
PGHAX vs. AHSAX - Expense Ratio Comparison
PGHAX has a 0.72% expense ratio, which is lower than AHSAX's 1.05% expense ratio.
Dividends
PGHAX vs. AHSAX - Dividend Comparison
PGHAX's dividend yield for the trailing twelve months is around 1.78%, while AHSAX has not 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% |
PGHAX Putnam Global Health Care Fund | 1.78% | 1.86% | 4.71% | 5.33% | 7.48% | 11.17% | 8.93% | 0.00% | 0.00% |
Frequently Asked Questions
PGHAX and AHSAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AHSAX has higher volatility (6.39%) compared to PGHAX (5.61%). In terms of maximum drawdown, PGHAX dropped -20.52% vs AHSAX's -46.23%.
AHSAX currently has the higher Sharpe Ratio (3.18 vs 1.58), 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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