VHCIX vs. SHSAX
VHCIX (Vanguard Health Care Index Fund Admiral Shares) and SHSAX (BlackRock Health Sciences Opportunities Portfolio) are both Health & Biotech Equities funds. Over the past 10 years, VHCIX returned 9.99%/yr vs 10.05%/yr for SHSAX. With a 0.96 correlation, they move nearly in lockstep. VHCIX charges 0.10%/yr vs 1.09%/yr for SHSAX.
Performance
VHCIX vs. SHSAX - Performance Comparison
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Returns By Period
In the year-to-date period, VHCIX achieves a -1.30% return, which is significantly higher than SHSAX's -1.61% return. Both investments have delivered pretty close results over the past 10 years, with VHCIX having a 9.99% annualized return and SHSAX not far ahead at 10.05%.
VHCIX
- 1D
- 0.91%
- 1M
- 1.32%
- YTD
- -1.30%
- 6M
- -1.74%
- 1Y
- 17.73%
- 3Y*
- 6.61%
- 5Y*
- 4.46%
- 10Y*
- 9.99%
SHSAX
- 1D
- 1.37%
- 1M
- 1.76%
- YTD
- -1.61%
- 6M
- -2.20%
- 1Y
- 17.76%
- 3Y*
- 6.60%
- 5Y*
- 3.86%
- 10Y*
- 10.05%
VHCIX vs. SHSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VHCIX Vanguard Health Care Index Fund Admiral Shares | -1.30% | 15.43% | 2.64% | 2.48% | -5.50% | 20.56% | 18.22% | 21.97% | 5.55% | 23.35% |
SHSAX BlackRock Health Sciences Opportunities Portfolio | -1.61% | 15.85% | 3.73% | 3.59% | -5.94% | 11.88% | 19.44% | 25.27% | 7.93% | 24.74% |
Correlation
The correlation between VHCIX and SHSAX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004 | 0.96 |
The correlation between VHCIX and SHSAX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VHCIX vs. SHSAX — Risk / Return Rank
VHCIX
SHSAX
VHCIX vs. SHSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care Index Fund Admiral Shares (VHCIX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX). 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.
| VHCIX | SHSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.82 | -0.10 |
| Martin ratioReturn relative to average drawdown | 4.24 | 4.39 | -0.15 |
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Drawdowns
VHCIX vs. SHSAX - Drawdown Comparison
The maximum VHCIX drawdown since its inception was -39.12%, which is greater than SHSAX's maximum drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for VHCIX and SHSAX.
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Drawdown Indicators
| VHCIX | SHSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.12% | -35.49% | -3.63% |
Max Drawdown (1Y)Largest decline over 1 year | -10.39% | -9.87% | -0.52% |
Max Drawdown (3Y)Largest decline over 3 years | -16.89% | -16.08% | -0.81% |
Max Drawdown (5Y)Largest decline over 5 years | -17.77% | -17.99% | +0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -28.58% | -28.36% | -0.22% |
Current DrawdownCurrent decline from peak | -4.45% | -4.44% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -5.97% | -6.17% | +0.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.21% | 4.09% | +0.12% |
Volatility
VHCIX vs. SHSAX - Volatility Comparison
Vanguard Health Care Index Fund Admiral Shares (VHCIX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX) have volatilities of 4.99% and 5.09%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VHCIX | SHSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 5.09% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 10.46% | 10.73% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.74% | 14.22% | +0.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.06% | 14.44% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.96% | 16.57% | +0.39% |
VHCIX vs. SHSAX - Expense Ratio Comparison
VHCIX has a 0.10% expense ratio, which is lower than SHSAX's 1.09% expense ratio.
Dividends
VHCIX vs. SHSAX - Dividend Comparison
VHCIX's dividend yield for the trailing twelve months is around 1.66%, less than SHSAX's 10.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHSAX BlackRock Health Sciences Opportunities Portfolio | 10.81% | 10.63% | 9.18% | 3.84% | 7.44% | 9.20% | 4.34% | 3.89% | 8.56% | 3.53% | 2.43% | 12.58% |
VHCIX Vanguard Health Care Index Fund Admiral Shares | 1.66% | 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
With a correlation of 0.98, VHCIX and SHSAX 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 (5.09%) compared to VHCIX (4.99%). In terms of maximum drawdown, VHCIX dropped -39.12% vs SHSAX's -35.49%.
SHSAX currently has the higher Sharpe Ratio (1.27 vs 1.22), 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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