VINAX vs. VGHCX

Last updated Aug 2, 2026

VINAX (Vanguard Industrials Index Fund Admiral Shares) and VGHCX (Vanguard Health Care Fund Investor Shares) are both mutual funds - VINAX is a Industrials Equities fund managed by Vanguard, while VGHCX is a Health & Biotech Equities fund actively managed by Vanguard. Over the past 10 years, VINAX returned 13.66%/yr vs 9.32%/yr for VGHCX. Their 0.66 correlation means they have sometimes moved together and sometimes differently. VINAX charges 0.10%/yr vs 0.33%/yr for VGHCX.

Performance

VINAX vs. VGHCX - Performance Comparison

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

Returns By Period

In the year-to-date period, VINAX achieves a 15.16% return, which is significantly higher than VGHCX's 4.43% return. Over the past 10 years, VINAX has outperformed VGHCX with an annualized return of 13.66%, while VGHCX has yielded a comparatively lower 9.32% annualized return.

VINAX

• 1D: 1.30%
• 1M: -3.83%
• 6M: 7.30%
• YTD: 15.16%
• 1Y: 21.00%
• 3Y*: 18.71%
• 5Y*: 13.07%
• 10Y*: 13.66%
• ALL TIME*: 11.01%

VGHCX

• 1D: -1.27%
• 1M: -2.84%
• 6M: 4.38%
• YTD: 4.43%
• 1Y: 28.58%
• 3Y*: 11.51%
• 5Y*: 7.89%
• 10Y*: 9.32%
• ALL TIME*: 14.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VGHCX Vanguard Health Care Fund Investor Shares	$0.00	$0.00	$0.00
VINAX Vanguard Industrials Index Fund Admiral Shares	$0.00	$0.00	$0.00

VINAX vs. VGHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VINAX Vanguard Industrials Index Fund Admiral Shares	15.16%	18.53%	16.95%	22.38%	-8.51%	20.66%	12.25%	30.16%	-13.93%	21.50%
VGHCX Vanguard Health Care Fund Investor Shares	4.43%	19.63%	8.99%	5.46%	-1.05%	14.36%	12.57%	22.93%	1.03%	19.59%

Correlation

The correlation between VINAX and VGHCX is 0.37, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.37
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.56
Correlation (10Y) Provides a long-term view across more market conditions.	0.57
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.66

Over the past year, the correlation between VINAX and VGHCX has dropped to 0.37 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

VINAX vs. VGHCX - Sectors Allocation Comparison

Sectors	VINAX	VGHCX
Industrials	86.4%	-
Technology	5.4%	-
Utilities	4.3%	-
Basic Materials	2.9%	0.0%
Consumer Cyclical	0.5%	-
Financial Services	0.2%	0.0%
Real Estate	0.0%	-
Healthcare	0.0%	99.5%
Energy	0.0%	-
Communication Services	0.0%	-
Consumer Defensive	-	1.2%

Return for Risk

VINAX vs. VGHCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VINAX

VINAX Risk / Return Rank: 37
VINAX Sharpe Ratio Rank: 34
VINAX Sortino Ratio Rank: 34
VINAX Omega Ratio Rank: 32
VINAX Calmar Ratio Rank: 38
VINAX Martin Ratio Rank: 44

VGHCX

VGHCX Risk / Return Rank: 75
VGHCX Sharpe Ratio Rank: 77
VGHCX Sortino Ratio Rank: 79
VGHCX Omega Ratio Rank: 72
VGHCX Calmar Ratio Rank: 86
VGHCX Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VINAX vs. VGHCX - Risk-Adjusted Trends Comparison

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

	VINAX	VGHCX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	1.76	-0.71
Sortino ratio: Return per unit of downside risk	1.55	2.68	-1.12
Omega ratio: Gain probability vs. loss probability	1.19	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	1.55	2.95	-1.40
Martin ratio: Return relative to average drawdown	6.14	7.76	-1.62

VINAX vs. VGHCX - Sharpe Ratio Comparison

The current VINAX Sharpe Ratio is 1.05, which is lower than the VGHCX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of VINAX and VGHCX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VINAX vs. VGHCX - Drawdown Comparison

The maximum VINAX drawdown since its inception was -63.43%, which is greater than VGHCX's maximum drawdown of -36.93%. Use the drawdown chart below to compare losses from any high point for VINAX and VGHCX.

Drawdown Indicators

	VINAX	VGHCX	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-36.93%	-26.50%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-9.20%	-3.05%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-16.08%	-4.51%
Max Drawdown (5Y) Largest decline over 5 years	-23.07%	-16.95%	-6.12%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	-27.18%	-15.27%
Current Drawdown Current decline from peak	-5.16%	-3.46%	-1.70%
Average Drawdown Average peak-to-trough decline	-8.31%	-5.24%	-3.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.08%	3.49%	-0.41%

Volatility

VINAX vs. VGHCX - Volatility Comparison

The current volatility for Vanguard Industrials Index Fund Admiral Shares (VINAX) is 5.16%, while Vanguard Health Care Fund Investor Shares (VGHCX) has a volatility of 5.44%. This indicates that VINAX experiences smaller price fluctuations and is considered to be less risky than VGHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VINAX	VGHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.16%	5.44%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	14.73%	11.65%	+3.08%
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	15.39%	+2.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.58%	18.40%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.52%	17.67%	+2.85%

VINAX vs. VGHCX - Expense Ratio Comparison

VINAX has a 0.10% expense ratio, which is lower than VGHCX's 0.33% expense ratio.

Dividends

VINAX vs. VGHCX - Dividend Comparison

VINAX's dividend yield for the trailing twelve months is around 0.90%, less than VGHCX's 6.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VGHCX Vanguard Health Care Fund Investor Shares	6.33%	6.00%	22.72%	7.17%	5.44%	8.31%	7.96%	11.82%	9.10%	7.30%	8.54%	8.16%
VINAX Vanguard Industrials Index Fund Admiral Shares	0.90%	1.01%	1.23%	1.36%	1.51%	1.06%	1.39%	1.68%	1.90%	1.60%	1.82%	1.94%

Frequently Asked Questions

Can I hold both VINAX and VGHCX in my portfolio?

VINAX and VGHCX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VINAX or VGHCX?

VGHCX has higher volatility (5.44%) compared to VINAX (5.16%). In terms of maximum drawdown, VINAX dropped -63.43% vs VGHCX's -36.93%.

Which has better risk-adjusted returns?

VGHCX currently has the higher Sharpe Ratio (1.76 vs 1.05), 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.