SHSAX vs. VGHCX

Last updated Jun 4, 2026

SHSAX (BlackRock Health Sciences Opportunities Portfolio) and VGHCX (Vanguard Health Care Fund Investor Shares) are both Health & Biotech Equities funds. Over the past 10 years, SHSAX returned 9.11%/yr vs 8.79%/yr for VGHCX. Their correlation of 0.91 suggests significant overlap in exposure. SHSAX charges 1.09%/yr vs 0.30%/yr for VGHCX.

Performance

SHSAX vs. VGHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Health Sciences Opportunities Portfolio (SHSAX) and Vanguard Health Care Fund Investor Shares (VGHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHSAX achieves a -5.45% return, which is significantly lower than VGHCX's -4.67% return. Both investments have delivered pretty close results over the past 10 years, with SHSAX having a 9.11% annualized return and VGHCX not far behind at 8.79%.

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%

VGHCX

• 1D: -1.56%
• 1M: -1.40%
• YTD: -4.67%
• 6M: -4.29%
• 1Y: 16.18%
• 3Y*: 8.30%
• 5Y*: 7.16%
• 10Y*: 8.79%

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

SHSAX vs. VGHCX - 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%
VGHCX Vanguard Health Care Fund Investor Shares	-4.67%	19.63%	8.99%	5.46%	-1.05%	14.36%	12.57%	22.93%	1.03%	19.59%

Correlation

The correlation between SHSAX and VGHCX 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 Jan 4, 2000	0.91

The correlation between SHSAX and VGHCX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

SHSAX vs. VGHCX — Risk / Return Rank

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

SHSAX

SHSAX Risk / Return Rank: 12
SHSAX Sharpe Ratio Rank: 12
SHSAX Sortino Ratio Rank: 13
SHSAX Omega Ratio Rank: 11
SHSAX Calmar Ratio Rank: 14
SHSAX Martin Ratio Rank: 11

VGHCX

VGHCX Risk / Return Rank: 17
VGHCX Sharpe Ratio Rank: 15
VGHCX Sortino Ratio Rank: 16
VGHCX Omega Ratio Rank: 14
VGHCX Calmar Ratio Rank: 22
VGHCX Martin Ratio Rank: 16

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.

SHSAX vs. VGHCX - 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 Investor Shares (VGHCX). 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	VGHCX	Difference
Sharpe ratio Return per unit of total volatility	0.94	1.08	-0.13
Sortino ratio Return per unit of downside risk	1.46	1.67	-0.21
Omega ratio Gain probability vs. loss probability	1.17	1.19	-0.02
Calmar ratio Return relative to maximum drawdown	1.31	1.73	-0.41
Martin ratio Return relative to average drawdown	3.28	4.60	-1.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHSAX vs. VGHCX - Sharpe Ratio Comparison

The current SHSAX Sharpe Ratio is 0.94, which is comparable to the VGHCX Sharpe Ratio of 1.08. The chart below compares the historical Sharpe Ratios of SHSAX and VGHCX, 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

	SHSAX	VGHCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.94	1.08	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.40	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	0.50	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.92	-0.21

Drawdowns

SHSAX vs. VGHCX - Drawdown Comparison

The maximum SHSAX drawdown since its inception was -35.49%, roughly equal to the maximum VGHCX drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for SHSAX and VGHCX.

Drawdown Indicators

	SHSAX	VGHCX	Difference
Max Drawdown Largest peak-to-trough decline	-35.49%	-36.93%	+1.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.87%	-9.20%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-16.08%	-16.08%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	-17.99%	-16.95%	-1.04%
Max Drawdown (10Y) Largest decline over 10 years	-28.36%	-27.18%	-1.18%
Current Drawdown Current decline from peak	-8.18%	-7.61%	-0.57%
Average Drawdown Average peak-to-trough decline	-6.18%	-5.25%	-0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	3.44%	+0.50%

Volatility

SHSAX vs. VGHCX - Volatility Comparison

BlackRock Health Sciences Opportunities Portfolio (SHSAX) has a higher volatility of 4.16% compared to Vanguard Health Care Fund Investor Shares (VGHCX) at 3.79%. This indicates that SHSAX's price experiences larger fluctuations and is considered to be riskier than VGHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHSAX	VGHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	3.79%	+0.37%
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%	14.75%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	18.21%	-3.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.53%	17.64%	-1.11%

SHSAX vs. VGHCX - Expense Ratio Comparison

SHSAX has a 1.09% expense ratio, which is higher than VGHCX's 0.30% expense ratio.

Dividends

SHSAX vs. VGHCX - Dividend Comparison

SHSAX's dividend yield for the trailing twelve months is around 11.25%, more than VGHCX's 6.93% 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%
VGHCX Vanguard Health Care Fund Investor Shares	6.93%	6.00%	22.72%	7.17%	5.44%	8.31%	7.96%	11.82%	9.10%	7.30%	8.54%	8.16%

Frequently Asked Questions

Can I hold both SHSAX and VGHCX in my portfolio?

With a correlation of 0.95, SHSAX and VGHCX 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.

Which is riskier, SHSAX or VGHCX?

SHSAX has higher volatility (4.16%) compared to VGHCX (3.79%). In terms of maximum drawdown, SHSAX dropped -35.49% vs VGHCX's -36.93%.

Which has better risk-adjusted returns?

VGHCX 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.