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VGHCX vs. VLCAX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VGHCX vs. VLCAX

Last updated Jun 4, 2026

VGHCX (Vanguard Health Care Fund Investor Shares) and VLCAX (Vanguard Large-Cap Index Fund Admiral Shares) are both mutual funds - VGHCX is a Health & Biotech Equities fund managed by Vanguard, while VLCAX is a Large Cap Blend Equities fund managed by Vanguard. Over the past 10 years, VGHCX returned 8.79%/yr vs 15.65%/yr for VLCAX. A 0.76 correlation means they provide meaningful diversification when combined. VGHCX charges 0.30%/yr vs 0.05%/yr for VLCAX.

Performance

VGHCX vs. VLCAX - Performance Comparison

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

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Returns By Period

In the year-to-date period, VGHCX achieves a -4.67% return, which is significantly lower than VLCAX's 11.49% return. Over the past 10 years, VGHCX has underperformed VLCAX with an annualized return of 8.79%, while VLCAX has yielded a comparatively higher 15.65% annualized return.

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%

VLCAX

1D
0.18%
1M
5.98%
YTD
11.49%
6M
11.39%
1Y
28.68%
3Y*
22.96%
5Y*
13.91%
10Y*
15.65%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VGHCX vs. VLCAX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VLCAX
Vanguard Large-Cap Index Fund Admiral Shares		11.49%18.09%25.10%27.26%-19.69%27.02%21.03%31.39%-4.49%22.02%

Correlation

The correlation between VGHCX and VLCAX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

Correlation (3Y)
Calculated over the trailing 3-year period

0.53

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (10Y)
Calculated over the trailing 10-year period

0.68

Correlation (All Time)
Calculated using the full available price history since Feb 2, 2004

0.76

Over the past year, the correlation between VGHCX and VLCAX has dropped to 0.43 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

VGHCX vs. VLCAX - Sectors Allocation Comparison

Sectors
VGHCX
VLCAX

Healthcare

97.8%
8.6%

Consumer Defensive

1.2%
4.8%

Financial Services

0.0%
11.8%

Basic Materials

0.0%
1.6%

Communication Services

-

11.2%

Consumer Cyclical

-

9.8%

Energy

-

3.6%

Industrials

-

8.0%

Real Estate

-

1.7%

Technology

-

35.9%

Utilities

-

2.7%

Healthcare

VGHCX
97.8%
VLCAX
8.6%

Consumer Defensive

VGHCX
1.2%
VLCAX
4.8%

Financial Services

VGHCX
0.0%
VLCAX
11.8%

Basic Materials

VGHCX
0.0%
VLCAX
1.6%

Communication Services

VGHCX

-

VLCAX
11.2%

Consumer Cyclical

VGHCX

-

VLCAX
9.8%

Energy

VGHCX

-

VLCAX
3.6%

Industrials

VGHCX

-

VLCAX
8.0%

Real Estate

VGHCX

-

VLCAX
1.7%

Technology

VGHCX

-

VLCAX
35.9%

Utilities

VGHCX

-

VLCAX
2.7%

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Vanguard Health Care Fund Investor Shares

Vanguard Large-Cap Index Fund Admiral Shares

Often compared with VGHCX:
VGHCX vs. VHTVGHCX vs. FSHCXVGHCX vs. FSPHXVGHCX vs. VOOVGHCX vs. VPMCXVGHCX vs. XLVVGHCX vs. VGSLX
Often compared with VLCAX:
VLCAX vs. VFIAXVLCAX vs. VOOVLCAX vs. VIGAXVLCAX vs. VTSAXVLCAX vs. VIVAXVLCAX vs. VIMAXVLCAX vs. SPY

Return for Risk

VGHCX vs. VLCAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VGHCX
VGHCX Risk / Return Rank: 1717
Overall Rank
VGHCX Sharpe Ratio Rank: 1515
Sharpe Ratio Rank
VGHCX Sortino Ratio Rank: 1616
Sortino Ratio Rank
VGHCX Omega Ratio Rank: 1414
Omega Ratio Rank
VGHCX Calmar Ratio Rank: 2222
Calmar Ratio Rank
VGHCX Martin Ratio Rank: 1616
Martin Ratio Rank
VLCAX
VLCAX Risk / Return Rank: 7070
Overall Rank
VLCAX Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
VLCAX Sortino Ratio Rank: 6565
Sortino Ratio Rank
VLCAX Omega Ratio Rank: 6565
Omega Ratio Rank
VLCAX Calmar Ratio Rank: 6969
Calmar Ratio Rank
VLCAX Martin Ratio Rank: 7979
Martin Ratio Rank
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. VLCAX - Risk-Adjusted Trends Comparison

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

VGHCXVLCAXDifference
Sharpe ratioReturn per unit of total volatility
1.08
2.48

-1.40

Sortino ratioReturn per unit of downside risk
1.67
3.37

-1.70

Omega ratioGain probability vs. loss probability

1.19

1.45

-0.26

Calmar ratioReturn relative to maximum drawdown

1.73

3.22

-1.49

Martin ratioReturn relative to average drawdown

4.60

14.78

-10.18

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. VLCAX - Sharpe Ratio Comparison

The current VGHCX Sharpe Ratio is 1.08, which is lower than the VLCAX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of VGHCX and VLCAX, 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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Sharpe Ratios by Period

VGHCXVLCAXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.08

2.48

-1.40

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.81

-0.42

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.50

0.86

-0.36

Sharpe Ratio (All Time)

Calculated using the full available price history

0.92

0.58

+0.34

Drawdowns

VGHCX vs. VLCAX - Drawdown Comparison

The maximum VGHCX drawdown since its inception was -36.93%, smaller than the maximum VLCAX drawdown of -54.76%. Use the drawdown chart below to compare losses from any high point for VGHCX and VLCAX.

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Drawdown Indicators

VGHCXVLCAXDifference

Max Drawdown

Largest peak-to-trough decline

-36.93%

-54.76%

+17.83%

Max Drawdown (1Y)

Largest decline over 1 year

-9.20%

-9.19%

-0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-16.08%

-19.01%

+2.93%

Max Drawdown (5Y)

Largest decline over 5 years

-16.95%

-25.65%

+8.70%

Max Drawdown (10Y)

Largest decline over 10 years

-27.18%

-33.97%

+6.79%

Current Drawdown

Current decline from peak

-7.61%

0.00%

-7.61%

Average Drawdown

Average peak-to-trough decline

-5.25%

-6.86%

+1.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.44%

2.00%

+1.44%

Volatility

VGHCX vs. VLCAX - Volatility Comparison

Vanguard Health Care Fund Investor Shares (VGHCX) has a higher volatility of 3.79% compared to Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) at 2.80%. This indicates that VGHCX's price experiences larger fluctuations and is considered to be riskier than VLCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VGHCXVLCAXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

2.80%

+0.99%

Volatility (6M)

Calculated over the trailing 6-month period

10.35%

9.01%

+1.34%

Volatility (1Y)

Calculated over the trailing 1-year period

14.75%

11.92%

+2.83%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.21%

17.16%

+1.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.64%

18.20%

-0.56%

VGHCX vs. VLCAX - Expense Ratio Comparison

VGHCX has a 0.30% expense ratio, which is higher than VLCAX's 0.05% expense ratio.

Dividends

VGHCX vs. VLCAX - Dividend Comparison

VGHCX's dividend yield for the trailing twelve months is around 6.93%, more than VLCAX's 0.96% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VLCAX
Vanguard Large-Cap Index Fund Admiral Shares		0.96%1.08%1.23%1.40%1.66%1.18%1.45%1.80%2.08%1.75%1.98%1.96%

Frequently Asked Questions

VGHCX and VLCAX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VGHCX has higher volatility (3.79%) compared to VLCAX (2.80%). In terms of maximum drawdown, VGHCX dropped -36.93% vs VLCAX's -54.76%.

VLCAX currently has the higher Sharpe Ratio (2.48 vs 1.08), 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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