PGHAX vs. RYHIX

Last updated Jun 23, 2026

PGHAX (Putnam Global Health Care Fund) and RYHIX (Rydex Health Care Fund) are both Health & Biotech Equities funds. Over the past 5 years, PGHAX returned 6.28%/yr vs 3.11%/yr for RYHIX. Their correlation of 0.89 suggests significant overlap in exposure. PGHAX charges 0.72%/yr vs 1.35%/yr for RYHIX.

Performance

PGHAX vs. RYHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Global Health Care Fund (PGHAX) and Rydex Health Care Fund (RYHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PGHAX achieves a -2.28% return, which is significantly lower than RYHIX's -0.84% return.

PGHAX

• 1D: -1.09%
• 1M: -1.42%
• YTD: -2.28%
• 6M: -2.44%
• 1Y: 16.08%
• 3Y*: 7.10%
• 5Y*: 6.28%
• 10Y*: —

RYHIX

• 1D: -0.12%
• 1M: 1.50%
• YTD: -0.84%
• 6M: -2.06%
• 1Y: 15.37%
• 3Y*: 5.79%
• 5Y*: 3.11%
• 10Y*: 8.59%

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

PGHAX vs. RYHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PGHAX Putnam Global Health Care Fund	-2.28%	15.58%	1.69%	9.48%	-4.39%	19.99%	13.35%
RYHIX Rydex Health Care Fund	-0.84%	14.42%	0.61%	5.84%	-11.59%	19.27%	15.01%

Correlation

The correlation between PGHAX and RYHIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020	0.89

The correlation between PGHAX and RYHIX has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

PGHAX vs. RYHIX — Risk / Return Rank

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

PGHAX

PGHAX Risk / Return Rank: 17
PGHAX Sharpe Ratio Rank: 16
PGHAX Sortino Ratio Rank: 19
PGHAX Omega Ratio Rank: 15
PGHAX Calmar Ratio Rank: 21
PGHAX Martin Ratio Rank: 15

RYHIX

RYHIX Risk / Return Rank: 15
RYHIX Sharpe Ratio Rank: 15
RYHIX Sortino Ratio Rank: 17
RYHIX Omega Ratio Rank: 14
RYHIX Calmar Ratio Rank: 16
RYHIX Martin Ratio Rank: 14

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.

PGHAX vs. RYHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Global Health Care Fund (PGHAX) and Rydex Health Care Fund (RYHIX). 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	RYHIX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.02	+0.06
Sortino ratio: Return per unit of downside risk	1.70	1.59	+0.11
Omega ratio: Gain probability vs. loss probability	1.19	1.18	+0.01
Calmar ratio: Return relative to maximum drawdown	1.60	1.35	+0.25
Martin ratio: Return relative to average drawdown	3.96	3.65	+0.31

PGHAX vs. RYHIX - Sharpe Ratio Comparison

The current PGHAX Sharpe Ratio is 1.07, which is comparable to the RYHIX Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of PGHAX and RYHIX, 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

PGHAX vs. RYHIX - Drawdown Comparison

The maximum PGHAX drawdown since its inception was -20.52%, smaller than the maximum RYHIX drawdown of -41.27%. Use the drawdown chart below to compare losses from any high point for PGHAX and RYHIX.

Drawdown Indicators

	PGHAX	RYHIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.52%	-41.27%	+20.75%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-11.31%	+1.63%
Max Drawdown (3Y) Largest decline over 3 years	-20.52%	-17.46%	-3.06%
Max Drawdown (5Y) Largest decline over 5 years	-20.52%	-22.83%	+2.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.03%	—
Current Drawdown Current decline from peak	-6.35%	-4.58%	-1.77%
Average Drawdown Average peak-to-trough decline	-5.64%	-8.65%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.90%	4.17%	-0.27%

Volatility

PGHAX vs. RYHIX - Volatility Comparison

Putnam Global Health Care Fund (PGHAX) and Rydex Health Care Fund (RYHIX) have volatilities of 4.94% and 4.97%, 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.

Volatility by Period

	PGHAX	RYHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	4.97%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	10.82%	-0.43%
Volatility (1Y) Calculated over the trailing 1-year period	14.45%	15.00%	-0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.45%	15.85%	-1.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.43%	17.65%	-3.22%

PGHAX vs. RYHIX - Expense Ratio Comparison

PGHAX has a 0.72% expense ratio, which is lower than RYHIX's 1.35% expense ratio.

Dividends

PGHAX vs. RYHIX - Dividend Comparison

PGHAX's dividend yield for the trailing twelve months is around 1.90%, less than RYHIX's 2.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGHAX Putnam Global Health Care Fund	1.90%	1.86%	4.71%	5.33%	7.48%	11.17%	8.93%	0.00%	0.00%	0.00%	0.00%	0.00%
RYHIX Rydex Health Care Fund	2.19%	2.18%	0.00%	0.00%	1.64%	3.19%	8.81%	0.00%	1.76%	9.17%	13.88%	6.39%

Frequently Asked Questions

Can I hold both PGHAX and RYHIX in my portfolio?

PGHAX and RYHIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PGHAX or RYHIX?

RYHIX has higher volatility (4.97%) compared to PGHAX (4.94%). In terms of maximum drawdown, PGHAX dropped -20.52% vs RYHIX's -41.27%.

Which has better risk-adjusted returns?

PGHAX currently has the higher Sharpe Ratio (1.07 vs 1.02), 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.