VGHCX vs. VHCIX

Last updated Jun 4, 2026

VGHCX (Vanguard Health Care Fund Investor Shares) and VHCIX (Vanguard Health Care Index Fund Admiral Shares) are both Health & Biotech Equities funds from Vanguard. Over the past 10 years, VGHCX returned 8.79%/yr vs 9.16%/yr for VHCIX. Their correlation of 0.94 suggests significant overlap in exposure. VGHCX charges 0.30%/yr vs 0.10%/yr for VHCIX.

Performance

VGHCX vs. VHCIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with VGHCX having a -4.67% return and VHCIX slightly lower at -4.82%. Both investments have delivered pretty close results over the past 10 years, with VGHCX having a 8.79% annualized return and VHCIX not far ahead at 9.16%.

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%

VHCIX

• 1D: -1.27%
• 1M: 0.60%
• YTD: -4.82%
• 6M: -4.99%
• 1Y: 13.36%
• 3Y*: 5.84%
• 5Y*: 4.43%
• 10Y*: 9.16%

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

VGHCX vs. VHCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VHCIX Vanguard Health Care Index Fund Admiral Shares	-4.82%	15.43%	2.64%	2.48%	-5.50%	20.56%	18.22%	21.97%	5.55%	23.35%

Correlation

The correlation between VGHCX and VHCIX 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 Feb 3, 2004	0.94

The correlation between VGHCX and VHCIX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

VGHCX vs. VHCIX - Sectors Allocation Comparison

Sectors	VGHCX	VHCIX
Healthcare	97.8%	100.0%
Consumer Defensive	1.2%	-
Financial Services	0.0%	0.0%
Basic Materials	0.0%	-
Communication Services	-	-
Consumer Cyclical	-	-
Energy	-	-
Industrials	-	0.0%
Real Estate	-	-
Technology	-	0.0%
Utilities	-	-

Return for Risk

VGHCX vs. VHCIX — Risk / Return Rank

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

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

VHCIX

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

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.

VGHCX vs. VHCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care Fund Investor Shares (VGHCX) and Vanguard Health Care Index Fund Admiral Shares (VHCIX). 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.

	VGHCX	VHCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.08	0.96	+0.12
Sortino ratio: Return per unit of downside risk	1.67	1.51	+0.17
Omega ratio: Gain probability vs. loss probability	1.19	1.17	+0.02
Calmar ratio: Return relative to maximum drawdown	1.73	1.33	+0.40
Martin ratio: Return relative to average drawdown	4.60	3.34	+1.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGHCX vs. VHCIX - Sharpe Ratio Comparison

The current VGHCX Sharpe Ratio is 1.08, which is comparable to the VHCIX Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of VGHCX and VHCIX, 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

	VGHCX	VHCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	0.96	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.30	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	0.54	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.55	+0.37

Drawdowns

VGHCX vs. VHCIX - Drawdown Comparison

The maximum VGHCX drawdown since its inception was -36.93%, smaller than the maximum VHCIX drawdown of -39.12%. Use the drawdown chart below to compare losses from any high point for VGHCX and VHCIX.

Drawdown Indicators

	VGHCX	VHCIX	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-39.12%	+2.19%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-10.39%	+1.19%
Max Drawdown (3Y) Largest decline over 3 years	-16.08%	-16.89%	+0.81%
Max Drawdown (5Y) Largest decline over 5 years	-16.95%	-17.77%	+0.82%
Max Drawdown (10Y) Largest decline over 10 years	-27.18%	-28.58%	+1.40%
Current Drawdown Current decline from peak	-7.61%	-7.85%	+0.24%
Average Drawdown Average peak-to-trough decline	-5.25%	-5.97%	+0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	4.11%	-0.67%

Volatility

VGHCX vs. VHCIX - Volatility Comparison

The current volatility for Vanguard Health Care Fund Investor Shares (VGHCX) is 3.79%, while Vanguard Health Care Index Fund Admiral Shares (VHCIX) has a volatility of 4.01%. This indicates that VGHCX experiences smaller price fluctuations and is considered to be less risky than VHCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGHCX	VHCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	4.01%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	10.35%	10.17%	+0.18%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	14.34%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	15.00%	+3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.64%	16.93%	+0.71%

VGHCX vs. VHCIX - Expense Ratio Comparison

VGHCX has a 0.30% expense ratio, which is higher than VHCIX's 0.10% expense ratio.

Dividends

VGHCX vs. VHCIX - Dividend Comparison

VGHCX's dividend yield for the trailing twelve months is around 6.93%, more than VHCIX's 1.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VHCIX Vanguard Health Care Index Fund Admiral Shares	1.72%	1.61%	1.53%	1.36%	1.33%	1.19%	1.21%	1.89%	1.38%	1.31%	1.45%	1.22%

Frequently Asked Questions

Can I hold both VGHCX and VHCIX in my portfolio?

With a correlation of 0.95, VGHCX and VHCIX 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, VGHCX or VHCIX?

VHCIX has higher volatility (4.01%) compared to VGHCX (3.79%). In terms of maximum drawdown, VGHCX dropped -36.93% vs VHCIX's -39.12%.

Which has better risk-adjusted returns?

VGHCX currently has the higher Sharpe Ratio (1.08 vs 0.96), 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.