PGHAX vs. VGHAX
PGHAX (Putnam Global Health Care Fund) and VGHAX (Vanguard Health Care Fund Admiral Shares) are both Health & Biotech Equities funds. Over the past 5 years, PGHAX returned 6.90%/yr vs 7.96%/yr for VGHAX. Their correlation of 0.93 means they have usually moved in the same direction. PGHAX charges 0.72%/yr vs 0.27%/yr for VGHAX.
Performance
PGHAX vs. VGHAX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with PGHAX at 4.47% and VGHAX at 4.47%.
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%
VGHAX
- 1D
- -1.27%
- 1M
- -2.83%
- 6M
- 4.42%
- YTD
- 4.47%
- 1Y
- 28.66%
- 3Y*
- 11.60%
- 5Y*
- 7.96%
- 10Y*
- 9.23%
- ALL TIME*
- 10.07%
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. VGHAX - 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% |
VGHAX Vanguard Health Care Fund Admiral Shares | 4.47% | 19.72% | 9.10% | 5.51% | -1.00% | 12.82% | 7.35% |
Correlation
The correlation between PGHAX and VGHAX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2020 | 0.93 |
The correlation between PGHAX and VGHAX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
PGHAX vs. VGHAX — Risk / Return Rank
PGHAX
VGHAX
PGHAX vs. VGHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Global Health Care Fund (PGHAX) and Vanguard Health Care Fund Admiral Shares (VGHAX). 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 | VGHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.31 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.47 | 2.96 | -0.48 |
| Martin ratioReturn relative to average drawdown | 6.05 | 7.79 | -1.74 |
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Drawdowns
PGHAX vs. VGHAX - Drawdown Comparison
The maximum PGHAX drawdown since its inception was -20.52%, smaller than the maximum VGHAX drawdown of -36.85%. Use the drawdown chart below to compare losses from any high point for PGHAX and VGHAX.
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Drawdown Indicators
| PGHAX | VGHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.52% | -36.85% | +16.33% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -9.19% | -0.49% |
Max Drawdown (3Y)Largest decline over 3 years | -20.52% | -16.05% | -4.47% |
Max Drawdown (5Y)Largest decline over 5 years | -20.52% | -16.92% | -3.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -27.17% | — |
Current DrawdownCurrent decline from peak | -3.02% | -3.46% | +0.44% |
Average DrawdownAverage peak-to-trough decline | -5.59% | -5.59% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.95% | 3.48% | +0.47% |
Volatility
PGHAX vs. VGHAX - Volatility Comparison
Putnam Global Health Care Fund (PGHAX) and Vanguard Health Care Fund Admiral Shares (VGHAX) have volatilities of 5.61% and 5.44%, 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
| PGHAX | VGHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 5.44% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 11.64% | 11.65% | -0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.20% | 15.39% | -0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.71% | 18.31% | -3.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.55% | 17.61% | -3.06% |
PGHAX vs. VGHAX - Expense Ratio Comparison
PGHAX has a 0.72% expense ratio, which is higher than VGHAX's 0.27% expense ratio.
Dividends
PGHAX vs. VGHAX - Dividend Comparison
PGHAX's dividend yield for the trailing twelve months is around 1.78%, less than VGHAX's 6.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PGHAX Putnam Global Health Care Fund | 1.78% | 1.86% | 4.71% | 5.33% | 7.48% | 11.17% | 8.93% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VGHAX Vanguard Health Care Fund Admiral Shares | 6.38% | 6.07% | 22.84% | 7.22% | 5.49% | 7.05% | 8.02% | 11.87% | 9.15% | 7.36% | 8.60% | 8.21% |
Frequently Asked Questions
With a correlation of 0.96, PGHAX and VGHAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
PGHAX has higher volatility (5.61%) compared to VGHAX (5.44%). In terms of maximum drawdown, PGHAX dropped -20.52% vs VGHAX's -36.85%.
VGHAX currently has the higher Sharpe Ratio (1.77 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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