SHSAX vs. VGHAX
SHSAX (BlackRock Health Sciences Opportunities Portfolio) and VGHAX (Vanguard Health Care Fund Admiral Shares) are both Health & Biotech Equities funds. Over the past 10 years, SHSAX returned 9.11%/yr vs 8.70%/yr for VGHAX. Their correlation of 0.92 suggests significant overlap in exposure. SHSAX charges 1.09%/yr vs 0.25%/yr for VGHAX.
Performance
SHSAX vs. VGHAX - Performance Comparison
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Returns By Period
In the year-to-date period, SHSAX achieves a -5.45% return, which is significantly lower than VGHAX's -4.65% return. Both investments have delivered pretty close results over the past 10 years, with SHSAX having a 9.11% annualized return and VGHAX not far behind at 8.70%.
SHSAX
- 1D
- -1.66%
- 1M
- 0.02%
- YTD
- -5.45%
- 6M
- -5.96%
- 1Y
- 12.73%
- 3Y*
- 5.72%
- 5Y*
- 3.74%
- 10Y*
- 9.11%
VGHAX
- 1D
- -1.55%
- 1M
- -1.39%
- YTD
- -4.65%
- 6M
- -4.26%
- 1Y
- 16.26%
- 3Y*
- 8.39%
- 5Y*
- 7.23%
- 10Y*
- 8.70%
SHSAX vs. VGHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHSAX BlackRock Health Sciences Opportunities Portfolio | -5.45% | 15.85% | 3.73% | 3.59% | -5.94% | 11.88% | 19.44% | 25.27% | 7.93% | 24.74% |
VGHAX Vanguard Health Care Fund Admiral Shares | -4.65% | 19.72% | 9.10% | 5.51% | -1.00% | 12.82% | 12.62% | 22.99% | 1.07% | 19.64% |
Correlation
The correlation between SHSAX and VGHAX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 13, 2001 | 0.92 |
The correlation between SHSAX and VGHAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
SHSAX vs. VGHAX — Risk / Return Rank
SHSAX
VGHAX
SHSAX vs. VGHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Health Sciences Opportunities Portfolio (SHSAX) 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.
| SHSAX | VGHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.19 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.31 | 1.74 | -0.42 |
| Martin ratioReturn relative to average drawdown | 3.28 | 4.63 | -1.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHSAX | VGHAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.08 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.26 | 0.40 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.55 | 0.50 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.60 | +0.12 |
Drawdowns
SHSAX vs. VGHAX - Drawdown Comparison
The maximum SHSAX drawdown since its inception was -35.49%, roughly equal to the maximum VGHAX drawdown of -36.85%. Use the drawdown chart below to compare losses from any high point for SHSAX and VGHAX.
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Drawdown Indicators
| SHSAX | VGHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.49% | -36.85% | +1.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.87% | -9.19% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -16.08% | -16.05% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.99% | -16.92% | -1.07% |
Max Drawdown (10Y)Largest decline over 10 years | -28.36% | -27.17% | -1.19% |
Current DrawdownCurrent decline from peak | -8.18% | -7.60% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -6.18% | -5.61% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 3.44% | +0.50% |
Volatility
SHSAX vs. VGHAX - Volatility Comparison
BlackRock Health Sciences Opportunities Portfolio (SHSAX) has a higher volatility of 4.16% compared to Vanguard Health Care Fund Admiral Shares (VGHAX) at 3.78%. This indicates that SHSAX's price experiences larger fluctuations and is considered to be riskier than VGHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHSAX | VGHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 3.78% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 10.40% | 10.35% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.75% | 14.74% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.37% | 18.12% | -3.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 17.58% | -1.05% |
SHSAX vs. VGHAX - Expense Ratio Comparison
SHSAX has a 1.09% expense ratio, which is higher than VGHAX's 0.25% expense ratio.
Dividends
SHSAX vs. VGHAX - Dividend Comparison
SHSAX's dividend yield for the trailing twelve months is around 11.25%, more than VGHAX's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHSAX BlackRock Health Sciences Opportunities Portfolio | 11.25% | 10.63% | 9.18% | 3.84% | 7.44% | 9.20% | 4.34% | 3.89% | 8.56% | 3.53% | 2.43% | 12.58% |
VGHAX Vanguard Health Care Fund Admiral Shares | 7.00% | 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 0.95, SHSAX 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.
SHSAX has higher volatility (4.16%) compared to VGHAX (3.78%). In terms of maximum drawdown, SHSAX dropped -35.49% vs VGHAX's -36.85%.
VGHAX currently has the higher Sharpe Ratio (1.08 vs 0.94), 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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