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VGHAX vs. VGPMX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGHAX vs. VGPMX

Last updated Aug 2, 2026
Documentation

VGHAX (Vanguard Health Care Fund Admiral Shares) and VGPMX (Vanguard Global Capital Cycles Fund) are both mutual funds - VGHAX is a Health & Biotech Equities fund actively managed by Vanguard, while VGPMX is a Global Equities fund managed by Vanguard. Over the past 10 years, VGHAX returned 9.23%/yr vs 9.11%/yr for VGPMX. Their 0.40 correlation means their historical movements had little consistent relationship. VGHAX charges 0.27%/yr vs 0.36%/yr for VGPMX.

Performance

VGHAX vs. VGPMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Health Care Fund Admiral Shares (VGHAX) and Vanguard Global Capital Cycles Fund (VGPMX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VGHAX achieves a 4.47% return, which is significantly lower than VGPMX's 16.88% return. Both investments have delivered pretty close results over the past 10 years, with VGHAX having a 9.23% annualized return and VGPMX not far behind at 9.11%.

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%

VGPMX

1D
2.26%
1M
2.84%
6M
6.45%
YTD
16.88%
1Y
58.07%
3Y*
27.54%
5Y*
20.65%
10Y*
9.11%
ALL TIME*
6.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

VGHAX

Vanguard Health Care Fund Admiral Shares
$0.00$0.00$0.00

VGPMX

Vanguard Global Capital Cycles Fund
$0.00$0.00$0.00

VGHAX vs. VGPMX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VGHAX
Vanguard Health Care Fund Admiral Shares		4.47%19.72%9.10%5.51%-1.00%12.82%12.62%22.99%1.07%19.64%
VGPMX
Vanguard Global Capital Cycles Fund		16.88%65.96%5.78%10.06%7.34%19.50%17.21%20.67%-32.26%13.75%

Correlation

The correlation between VGHAX and VGPMX is 0.30, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.30

Correlation (3Y)
Balances recent behavior with more history.

0.40

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.48

Correlation (10Y)
Provides a long-term view across more market conditions.

0.46

Correlation (All Time)
Calculated using the full available price history since Nov 12, 2001

0.40

The correlation between VGHAX and VGPMX shifts across timeframes, from 0.30 (1 year) to 0.48 (5 years), reflecting how their relationship changes across market environments.

VGHAX vs. VGPMX - Sectors Allocation Comparison

Sectors
VGHAX
VGPMX

Healthcare

99.5%
11.9%

Consumer Defensive

1.2%
9.4%

Financial Services

0.0%
5.7%

Basic Materials

0.0%
38.0%

Communication Services

-

6.5%

Consumer Cyclical

-

5.1%

Energy

-

4.4%

Industrials

-

2.6%

Real Estate

-

2.2%

Technology

-

9.5%

Utilities

-

4.7%

Healthcare

VGHAX
99.5%
VGPMX
11.9%

Consumer Defensive

VGHAX
1.2%
VGPMX
9.4%

Financial Services

VGHAX
0.0%
VGPMX
5.7%

Basic Materials

VGHAX
0.0%
VGPMX
38.0%

Communication Services

VGHAX

-

VGPMX
6.5%

Consumer Cyclical

VGHAX

-

VGPMX
5.1%

Energy

VGHAX

-

VGPMX
4.4%

Industrials

VGHAX

-

VGPMX
2.6%

Real Estate

VGHAX

-

VGPMX
2.2%

Technology

VGHAX

-

VGPMX
9.5%

Utilities

VGHAX

-

VGPMX
4.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Health Care Fund Admiral Shares

Vanguard Global Capital Cycles Fund

Often compared with VGHAX:
VGHAX vs. VHTVGHAX vs. VHCIXVGHAX vs. FPHAXVGHAX vs. XLVVGHAX vs. VIGAXVGHAX vs. VPCCXVGHAX vs. BPTRX
Often compared with VGPMX:
VGPMX vs. FSAGXVGPMX vs. GLDVGPMX vs. VOOVGPMX vs. VTSAXVGPMX vs. GLDMVGPMX vs. VTIVGPMX vs. GLTR

Return for Risk

VGHAX vs. VGPMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VGHAX
VGHAX Risk / Return Rank: 7676
Overall Rank
VGHAX Sharpe Ratio Rank: 7777
Sharpe Ratio Rank
VGHAX Sortino Ratio Rank: 7979
Sortino Ratio Rank
VGHAX Omega Ratio Rank: 7272
Omega Ratio Rank
VGHAX Calmar Ratio Rank: 8686
Calmar Ratio Rank
VGHAX Martin Ratio Rank: 6363
Martin Ratio Rank
VGPMX
VGPMX Risk / Return Rank: 9595
Overall Rank
VGPMX Sharpe Ratio Rank: 9898
Sharpe Ratio Rank
VGPMX Sortino Ratio Rank: 9494
Sortino Ratio Rank
VGPMX Omega Ratio Rank: 9292
Omega Ratio Rank
VGPMX Calmar Ratio Rank: 9696
Calmar Ratio Rank
VGPMX Martin Ratio Rank: 9595
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VGHAX vs. VGPMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care Fund Admiral Shares (VGHAX) and Vanguard Global Capital Cycles Fund (VGPMX). 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.

VGHAXVGPMXDifference
Sharpe ratioReturn per unit of total volatility
1.77
3.13

-1.36

Sortino ratioReturn per unit of downside risk
2.68
3.78

-1.10

Omega ratioGain probability vs. loss probability

1.31

1.53

-0.23

Calmar ratioReturn relative to maximum drawdown

2.96

4.42

-1.46

Martin ratioReturn relative to average drawdown

7.79

14.96

-7.16

VGHAX vs. VGPMX - Sharpe Ratio Comparison

The current VGHAX Sharpe Ratio is 1.77, which is lower than the VGPMX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of VGHAX and VGPMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

VGHAX vs. VGPMX - Drawdown Comparison

The maximum VGHAX drawdown since its inception was -36.85%, smaller than the maximum VGPMX drawdown of -78.85%. Use the drawdown chart below to compare losses from any high point for VGHAX and VGPMX.

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Drawdown Indicators

VGHAXVGPMXDifference

Max Drawdown

Largest peak-to-trough decline

-36.85%

-78.85%

+42.00%

Max Drawdown (1Y)

Largest decline over 1 year

-9.19%

-12.80%

+3.61%

Max Drawdown (3Y)

Largest decline over 3 years

-16.05%

-14.63%

-1.42%

Max Drawdown (5Y)

Largest decline over 5 years

-16.92%

-22.71%

+5.79%

Max Drawdown (10Y)

Largest decline over 10 years

-27.17%

-54.56%

+27.39%

Current Drawdown

Current decline from peak

-3.46%

-3.52%

+0.06%

Average Drawdown

Average peak-to-trough decline

-5.59%

-34.44%

+28.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.48%

3.77%

-0.29%

Volatility

VGHAX vs. VGPMX - Volatility Comparison

Vanguard Health Care Fund Admiral Shares (VGHAX) has a higher volatility of 5.44% compared to Vanguard Global Capital Cycles Fund (VGPMX) at 4.49%. This indicates that VGHAX's price experiences larger fluctuations and is considered to be riskier than VGPMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGHAXVGPMXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.44%

4.49%

+0.95%

Volatility (6M)

Calculated over the trailing 6-month period

11.65%

15.24%

-3.59%

Volatility (1Y)

Calculated over the trailing 1-year period

15.39%

18.11%

-2.72%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.31%

17.49%

+0.82%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.61%

20.63%

-3.02%

VGHAX vs. VGPMX - Expense Ratio Comparison

VGHAX has a 0.27% expense ratio, which is lower than VGPMX's 0.36% expense ratio.

Dividends

VGHAX vs. VGPMX - Dividend Comparison

VGHAX's dividend yield for the trailing twelve months is around 6.38%, more than VGPMX's 3.34% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VGPMX
Vanguard Global Capital Cycles Fund		3.34%2.59%2.68%3.22%3.27%3.26%2.03%2.39%3.02%0.02%1.72%2.32%

Frequently Asked Questions

VGHAX and VGPMX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VGHAX has higher volatility (5.44%) compared to VGPMX (4.49%). In terms of maximum drawdown, VGHAX dropped -36.85% vs VGPMX's -78.85%.

VGPMX currently has the higher Sharpe Ratio (3.13 vs 1.77), 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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