VHT vs. SPAQ
Compare and contrast key facts about Vanguard Health Care ETF (VHT) and Horizon Kinetics SPAC Active ETF (SPAQ).
VHT and SPAQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. SPAQ is an actively managed fund by Horizon. It was launched on Jun 29, 2007.
Performance
VHT vs. SPAQ - Performance Comparison
Loading graphics...
VHT vs. SPAQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VHT Vanguard Health Care ETF | -5.04% | 15.46% | 2.66% | 4.76% |
SPAQ Horizon Kinetics SPAC Active ETF | 0.06% | 7.35% | 4.33% | 5.52% |
Returns By Period
In the year-to-date period, VHT achieves a -5.04% return, which is significantly lower than SPAQ's 0.06% return.
VHT
- 1D
- 2.24%
- 1M
- -7.50%
- YTD
- -5.04%
- 6M
- 5.91%
- 1Y
- 4.70%
- 3Y*
- 6.16%
- 5Y*
- 5.09%
- 10Y*
- 9.72%
SPAQ
- 1D
- 0.62%
- 1M
- -0.24%
- YTD
- 0.06%
- 6M
- 1.51%
- 1Y
- 4.82%
- 3Y*
- 5.22%
- 5Y*
- —
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
VHT vs. SPAQ - Expense Ratio Comparison
VHT has a 0.10% expense ratio, which is lower than SPAQ's 0.85% expense ratio.
Return for Risk
VHT vs. SPAQ — Risk / Return Rank
VHT
SPAQ
VHT vs. SPAQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Health Care ETF (VHT) and Horizon Kinetics SPAC Active ETF (SPAQ). 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 | SPAQ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 0.56 | -0.29 |
Sortino ratioReturn per unit of downside risk | 0.49 | 0.84 | -0.35 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.13 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.51 | 0.98 | -0.46 |
Martin ratioReturn relative to average drawdown | 1.09 | 3.66 | -2.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| VHT | SPAQ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.56 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.78 | -0.22 |
Correlation
The correlation between VHT and SPAQ is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VHT vs. SPAQ - Dividend Comparison
VHT's dividend yield for the trailing twelve months is around 1.73%, less than SPAQ's 16.68% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VHT Vanguard Health Care ETF | 1.73% | 1.61% | 1.53% | 1.36% | 1.33% | 1.14% | 1.21% | 1.89% | 1.38% | 1.31% | 1.45% | 1.22% |
SPAQ Horizon Kinetics SPAC Active ETF | 16.68% | 16.69% | 3.00% | 2.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
VHT vs. SPAQ - Drawdown Comparison
The maximum VHT drawdown since its inception was -39.12%, which is greater than SPAQ's maximum drawdown of -5.30%. Use the drawdown chart below to compare losses from any high point for VHT and SPAQ.
Loading graphics...
Drawdown Indicators
| VHT | SPAQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.12% | -5.30% | -33.82% |
Max Drawdown (1Y)Largest decline over 1 year | -10.40% | -5.30% | -5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -17.71% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -28.85% | — | — |
Current DrawdownCurrent decline from peak | -8.05% | -1.97% | -6.08% |
Average DrawdownAverage peak-to-trough decline | -5.98% | -0.53% | -5.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.96% | 1.41% | +3.55% |
Volatility
VHT vs. SPAQ - Volatility Comparison
Vanguard Health Care ETF (VHT) has a higher volatility of 5.10% compared to Horizon Kinetics SPAC Active ETF (SPAQ) at 1.75%. This indicates that VHT's price experiences larger fluctuations and is considered to be riskier than SPAQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| VHT | SPAQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.10% | 1.75% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 6.25% | +4.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 8.60% | +9.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.85% | 7.04% | +7.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.94% | 7.04% | +9.90% |