VHT vs. ^SPXHC

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Health Care ETF (VHT) and S&P 500 Health Care Index (^SPXHC).

VHT is a passively managed fund by Vanguard that tracks the performance of the MSCI US Investable Market Health Care 25/50 Index. It was launched on Jan 26, 2004.

Performance

VHT vs. ^SPXHC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Health Care ETF (VHT) and S&P 500 Health Care Index (^SPXHC). The values are adjusted to include any dividend payments, if applicable.

VHT vs. ^SPXHC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHT Vanguard Health Care ETF	-4.28%	15.46%	2.66%	2.52%	-5.60%	20.57%	18.29%	21.87%	5.58%	23.26%
^SPXHC S&P 500 Health Care Index	-4.53%	12.53%	0.90%	0.30%	-3.55%	24.16%	11.43%	18.68%	4.69%	20.00%

Returns By Period

In the year-to-date period, VHT achieves a -4.28% return, which is significantly higher than ^SPXHC's -4.53% return. Over the past 10 years, VHT has outperformed ^SPXHC with an annualized return of 9.80%, while ^SPXHC has yielded a comparatively lower 8.06% annualized return.

VHT

• 1D: 0.80%
• 1M: -5.87%
• YTD: -4.28%
• 6M: 3.91%
• 1Y: 7.48%
• 3Y*: 6.44%
• 5Y*: 5.25%
• 10Y*: 9.80%

^SPXHC

• 1D: 0.80%
• 1M: -6.58%
• YTD: -4.53%
• 6M: 3.06%
• 1Y: 3.08%
• 3Y*: 4.50%
• 5Y*: 4.90%
• 10Y*: 8.06%

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

Return for Risk

VHT vs. ^SPXHC — Risk / Return Rank

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

VHT

VHT Risk / Return Rank: 23
VHT Sharpe Ratio Rank: 24
VHT Sortino Ratio Rank: 23
VHT Omega Ratio Rank: 22
VHT Calmar Ratio Rank: 24
VHT Martin Ratio Rank: 21

^SPXHC

^SPXHC Risk / Return Rank: 19
^SPXHC Sharpe Ratio Rank: 21
^SPXHC Sortino Ratio Rank: 20
^SPXHC Omega Ratio Rank: 19
^SPXHC Calmar Ratio Rank: 18
^SPXHC Martin Ratio Rank: 19

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.

VHT vs. ^SPXHC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care ETF (VHT) and S&P 500 Health Care Index (^SPXHC). 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.

	VHT	^SPXHC	Difference
Sharpe ratio Return per unit of total volatility	0.43	0.18	+0.25
Sortino ratio Return per unit of downside risk	0.71	0.36	+0.34
Omega ratio Gain probability vs. loss probability	1.09	1.05	+0.04
Calmar ratio Return relative to maximum drawdown	0.53	0.12	+0.41
Martin ratio Return relative to average drawdown	1.25	0.24	+1.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VHT vs. ^SPXHC - Sharpe Ratio Comparison

The current VHT Sharpe Ratio is 0.43, which is higher than the ^SPXHC Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of VHT and ^SPXHC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VHT	^SPXHC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	0.18	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.34	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.49	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.36	+0.20

Correlation

The correlation between VHT and ^SPXHC is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

VHT vs. ^SPXHC - Drawdown Comparison

The maximum VHT drawdown since its inception was -39.12%, roughly equal to the maximum ^SPXHC drawdown of -40.78%. Use the drawdown chart below to compare losses from any high point for VHT and ^SPXHC.

Drawdown Indicators

	VHT	^SPXHC	Difference
Max Drawdown Largest peak-to-trough decline	-39.12%	-40.78%	+1.66%
Max Drawdown (1Y) Largest decline over 1 year	-10.40%	-10.86%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-17.71%	-18.01%	+0.30%
Max Drawdown (10Y) Largest decline over 10 years	-28.85%	-28.59%	-0.26%
Current Drawdown Current decline from peak	-7.31%	-7.52%	+0.21%
Average Drawdown Average peak-to-trough decline	-5.98%	-8.32%	+2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.42%	5.38%	-0.96%

Volatility

VHT vs. ^SPXHC - Volatility Comparison

Vanguard Health Care ETF (VHT) has a higher volatility of 5.14% compared to S&P 500 Health Care Index (^SPXHC) at 4.73%. This indicates that VHT's price experiences larger fluctuations and is considered to be riskier than ^SPXHC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHT	^SPXHC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	4.73%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	10.21%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.61%	17.67%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	14.56%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	16.58%	+0.36%