VGHAX vs VOE
Vanguard Health Care Fund Admiral Shares vs Vanguard Morningstar Mid-Cap Value ETF
Quick Verdict
VOE has a lower expense ratio. VGHAX delivered stronger 1-year returns. VOE offers more diversification with 176 holdings.
Side-by-Side Comparison
| Metric | VGHAX | VOE | Winner |
|---|---|---|---|
| Expense Ratio | 0.27% | 0.05% | |
| AUM | $32.8B | $23.9B | |
| Dividend Yield | 6.45% | 1.81% | |
| Holdings | 109 | 176 | |
| YTD Return | +7.13% | +17.32% | |
| 1Y Return | +24.36% | +24.01% | |
| 3Y Return (annualized) | +1.32% | +17.81% | |
| 5Y Return (annualized) | -2.07% | +10.31% | |
| Volatility (annualized) | 15.7% | 17.6% | |
| Max Drawdown | -33.6% | -63.4% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Nov 12, 2001 | Aug 17, 2006 |
VGHAX vs VOE Performance
Vanguard Health Care Fund Admiral Shares (VGHAX) is a mutual fund from Vanguard (US) and Vanguard Morningstar Mid-Cap Value ETF (VOE) is a ETF from Vanguard (US). Over the past year VGHAX returned +24.36% while VOE returned +24.01%. Year to date, VGHAX is up 7.13% versus a gain of 17.32% for VOE.
Over three years, VGHAX compounded at +1.32% per year against +17.81% for VOE; over five years the annualized figures are -2.07% and +10.31% respectively. Across the full 5-year window we track, VOE has the edge at +7.95% annualized vs -2.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOE has been the more volatile fund, with annualized monthly volatility of 17.6% compared with 15.7% for VGHAX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.6% for VGHAX and -63.4% for VOE. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.59. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
VGHAX charges 0.27% per year while VOE charges 0.05%. On a $10,000 position that is $27 vs $5 annually, a gap of $22 per year that compounds over a long holding period. On income, VGHAX currently yields 6.45% against 1.81% for VOE.
Holdings Overlap
VGHAX and VOE share 5 holdings out of 250 unique holdings combined, representing a 3.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, VGHAX or VOE?
VGHAX has an expense ratio of 0.27% while VOE charges 0.05%. VOE is the cheaper option. On a $10,000 investment, that is $22 per year of difference.
Which performed better, VGHAX or VOE?
Over the past year VGHAX returned +24.36% vs +24.01% for VOE, so VGHAX leads on 1-year performance. Over the longest common window we track (5 years), VGHAX annualized -2.07% vs +7.95% for VOE. Past performance does not guarantee future results.
Which is riskier, VGHAX or VOE?
VOE has been the more volatile fund at 17.6% annualized versus 15.7% for VGHAX. Worst drawdown: VGHAX -33.6% vs VOE -63.4%.
Should I hold both VGHAX and VOE?
VGHAX and VOE have a monthly-return correlation of 0.59, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VGHAX and VOE?
VGHAX and VOE share 5 common holdings with a 3.1% weight overlap. Combined, they hold 250 unique securities.
Which pays a higher dividend, VGHAX or VOE?
VGHAX yields 6.45% while VOE yields 1.81%, so VGHAX currently pays the higher dividend yield.
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