VINAX vs. VHCIX

Last updated Jul 12, 2026

VINAX (Vanguard Industrials Index Fund Admiral Shares) and VHCIX (Vanguard Health Care Index Fund Admiral Shares) are both mutual funds - VINAX is a Industrials Equities fund managed by Vanguard, while VHCIX is a Health & Biotech Equities fund managed by Vanguard. Over the past 10 years, VINAX returned 13.99%/yr vs 10.26%/yr for VHCIX. A 0.67 correlation means they provide meaningful diversification when combined. Both charge a 0.10% expense ratio.

Performance

VINAX vs. VHCIX - 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 Index Fund Admiral Shares (VHCIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VINAX achieves a 17.61% return, which is significantly higher than VHCIX's 7.34% return. Over the past 10 years, VINAX has outperformed VHCIX with an annualized return of 13.99%, while VHCIX has yielded a comparatively lower 10.26% annualized return.

VINAX

• 1D: 0.52%
• 1M: 1.73%
• 6M: 11.59%
• YTD: 17.61%
• 1Y: 23.51%
• 3Y*: 20.72%
• 5Y*: 13.49%
• 10Y*: 13.99%

VHCIX

• 1D: 0.09%
• 1M: 7.43%
• 6M: 5.47%
• YTD: 7.34%
• 1Y: 25.15%
• 3Y*: 10.12%
• 5Y*: 5.62%
• 10Y*: 10.26%

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

VINAX vs. VHCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VINAX Vanguard Industrials Index Fund Admiral Shares	17.61%	18.53%	16.95%	22.38%	-8.51%	20.66%	12.25%	30.16%	-13.93%	21.50%
VHCIX Vanguard Health Care Index Fund Admiral Shares	7.34%	15.43%	2.64%	2.48%	-5.50%	20.56%	18.22%	21.97%	5.55%	23.35%

Correlation

The correlation between VINAX and VHCIX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.67

Over the past year, the correlation between VINAX and VHCIX has dropped to 0.37 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

VINAX vs. VHCIX - Sectors Allocation Comparison

Sectors	VINAX	VHCIX
Industrials	88.4%	0.0%
Technology	3.9%	0.0%
Utilities	3.8%	-
Basic Materials	1.8%	-
Consumer Cyclical	1.1%	-
Energy	0.5%	-
Financial Services	0.2%	0.0%
Real Estate	0.0%	-
Healthcare	0.0%	100.0%
Communication Services	0.0%	-
Consumer Defensive	-	-

Return for Risk

VINAX vs. VHCIX — Risk / Return Rank

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

VINAX

VINAX Risk / Return Rank: 39
VINAX Sharpe Ratio Rank: 37
VINAX Sortino Ratio Rank: 37
VINAX Omega Ratio Rank: 33
VINAX Calmar Ratio Rank: 41
VINAX Martin Ratio Rank: 48

VHCIX

VHCIX Risk / Return Rank: 51
VHCIX Sharpe Ratio Rank: 52
VHCIX Sortino Ratio Rank: 63
VHCIX Omega Ratio Rank: 46
VHCIX Calmar Ratio Rank: 60
VHCIX Martin Ratio Rank: 33

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.

VINAX vs. VHCIX - 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 Index Fund Admiral Shares (VHCIX). 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	VHCIX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.61	-0.27
Sortino ratio: Return per unit of downside risk	1.94	2.49	-0.54
Omega ratio: Gain probability vs. loss probability	1.23	1.28	-0.05
Calmar ratio: Return relative to maximum drawdown	1.94	2.38	-0.44
Martin ratio: Return relative to average drawdown	7.95	5.85	+2.10

VINAX vs. VHCIX - Sharpe Ratio Comparison

The current VINAX Sharpe Ratio is 1.34, which is comparable to the VHCIX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of VINAX and VHCIX, 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. VHCIX - Drawdown Comparison

The maximum VINAX drawdown since its inception was -63.43%, which is greater than VHCIX's maximum drawdown of -39.12%. Use the drawdown chart below to compare losses from any high point for VINAX and VHCIX.

Drawdown Indicators

	VINAX	VHCIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.43%	-39.12%	-24.31%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-10.39%	-1.86%
Max Drawdown (3Y) Largest decline over 3 years	-20.59%	-16.89%	-3.70%
Max Drawdown (5Y) Largest decline over 5 years	-23.07%	-17.77%	-5.30%
Max Drawdown (10Y) Largest decline over 10 years	-42.45%	-28.58%	-13.87%
Current Drawdown Current decline from peak	-3.14%	-1.18%	-1.96%
Average Drawdown Average peak-to-trough decline	-8.32%	-5.95%	-2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.98%	4.22%	-1.24%

Volatility

VINAX vs. VHCIX - Volatility Comparison

Vanguard Industrials Index Fund Admiral Shares (VINAX) has a higher volatility of 7.29% compared to Vanguard Health Care Index Fund Admiral Shares (VHCIX) at 5.64%. This indicates that VINAX's price experiences larger fluctuations and is considered to be riskier than VHCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VINAX	VHCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	5.64%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	14.64%	11.40%	+3.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.75%	15.41%	+2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.57%	15.22%	+3.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.49%	16.96%	+3.53%

VINAX vs. VHCIX - Expense Ratio Comparison

Both VINAX and VHCIX have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VINAX vs. VHCIX - Dividend Comparison

VINAX's dividend yield for the trailing twelve months is around 0.89%, less than VHCIX's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VHCIX Vanguard Health Care Index Fund Admiral Shares	1.54%	1.61%	1.53%	1.36%	1.33%	1.19%	1.21%	1.89%	1.38%	1.31%	1.45%	1.22%
VINAX Vanguard Industrials Index Fund Admiral Shares	0.89%	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 VHCIX in my portfolio?

VINAX and VHCIX 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 VHCIX?

VINAX has higher volatility (7.29%) compared to VHCIX (5.64%). In terms of maximum drawdown, VINAX dropped -63.43% vs VHCIX's -39.12%.

Which has better risk-adjusted returns?

VHCIX currently has the higher Sharpe Ratio (1.61 vs 1.34), 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.