FHLC vs GDOC: Grades, Fees and Holdings Compared

Fidelity MSCI Health Care Index ETF

FHLCANYSE Arca

Goldman Sachs Future Health Care Equity ETF

GDOCDNYSE Arca

Overlap

50.1%by weight

Expense ratio

FHLC −0.67pt a year

FHLC0.08%GDOC0.75%

Avg volume · 30D

FHLC 569.6×the volume

FHLC246KGDOC432

3Y return · a year

FHLC +4.9pt

FHLC+15.8%GDOC+10.9%

FHLC vs GDOC Performance

Oct 31, 2025 – Nov 2, 2026

+28.5%FHLC+12.8%GDOC

Expense ratio: FHLC 0.08%, better; GDOC 0.75%
Fund size: FHLC $3.54B; GDOC $21M
1Y total return: FHLC +28.5%, better; GDOC +12.8%
Yield (12M): FHLC 1.15%, better; GDOC 0.29%
Holdings: FHLC 344; GDOC 45
Avg volume (30D): FHLC 246K sh, better; GDOC 432 sh
NAV per share: FHLC $88.53; GDOC $39.09
52W range

ETF.net Grade

Pillar letters and Scores for FHLC, GDOC, with each pillar’s weight
Pillar	FHLC	GDOC
Cost30% weight	A98Higher	F8
Mission25% weight	A81Higher	A71
Risk15% weight	A79Higher	C48
Tradability15% weight	A79Higher	F16
Holdings10% weight	C54Higher	C49
Durability5% weight	A77Higher	D38

Rank among Health Care (Broad) funds

How we build Categories ›

Same Category. FHLC and GDOC are both graded against the same 25 Health Care (Broad) funds, so their Grades compare head to head.

Health Care (Broad)⁠

Category · 25 funds

See all 25 ›

FHLC ranks 2nd and GDOC 24th of 25 funds in the Health Care (Broad) Category.

Rank 1AXLVState Street Health Care Select Sector SPDR ETFScore 85
Rank 2AFHLCFidelity MSCI Health Care Index ETFScore 83
Rank 3AVHTVanguard Health Care ETFScore 77
Rank 23DKUREKraneShares MSCI All China Health Care Index ETFScore 26
Rank 24DGDOCGoldman Sachs Future Health Care Equity ETFScore 25
Rank 25FLGHTLangar Global HealthTech ETFScore 9

Our read on each fund

ETF.net Research

FHLCAFidelity MSCI Health Care Index ETF

GDOCDGoldman Sachs Future Health Care Equity ETF

In short

FHLC Health care, whole market. FHLC tracks an MSCI index that runs from mega-cap pharma down to small-cap biotech and device makers, roughly 400 names, for 0.08% a year.

GDOC Goldman's stock-pickers hunting the next wave of health care: genomics, precision medicine, tech-enabled procedures, digital care. About 40 names, chosen globally, versus the index giants that just own the whole sector.

Stated mandate

FHLC The fund seeks to track the performance of the MSCI USA IMI Health Care Index before fees and expenses.

GDOC The Fund seeks long-term capital growth by investing primarily in health care companies advancing new treatments and technologies, including genomics, precision medicine, technology-enabled procedures, and digital healthcare.

Why people hold it

FHLC Charges 0.08% a year against a 0.50% median for broad health care ETFs. Only XLV matches that sticker; VHT sits a hair above.
The IMI index it follows reaches for about 99% of US free-float market value, so smaller biotech and device names ride along with the pharma giants.msci.com
Mirrors its benchmark closely, one of the tighter tracking jobs among broad health care funds. Distributions come quarterly.
Fidelity has run it since 2013, and it has grown into a multi-billion-dollar fund with a plain vanilla index mandate.fidelity.com

GDOC Actively run around a theme, not a sector index: companies advancing new treatments and technologies across genomics, precision medicine, procedures and digital health.
Roughly 40 holdings with a global mandate, so individual picks carry real weight and the manager can shop outside the US.
Plain 1940 Act ETF wrapper from a major issuer, trading since 2021. No leverage, no derivatives gymnastics, no K-1.

Worth knowing

FHLC One sector, one country. Drug-pricing politics, patent cliffs and FDA rulings move the whole portfolio at once.
Free-float cap weighting means a handful of mega-cap insurers and drugmakers carry most of the weight; that long tail of small names counts for less than it looks.msci.com
Moderately traded rather than the category's volume leader, so spreads matter more on large or hurried orders.

GDOC At 0.75% a year, it costs more than the cohort's 0.50% median and roughly eight times index staples like VHT (0.09%) and XLV (0.08%).
A small fund that trades lightly, so spreads can run wider than the sector's household-name ETFs.
Concentrated innovation focus means the ride can look nothing like broad health care, and payouts come annually or semiannually. Growth is the stated mission, not income.

Full FHLC profile⁠

Full GDOC profile⁠

FHLC vs GDOC Holdings

How FHLC and GDOC differ

Overlap by weight

50.1%

Shared holdings make up 87.0% of GDOC and 56.6% of FHLC.

Level by level

Holdings33 in both50.1%
Countryby domicile90.4%
Sector2 Sectors96.9%
Asset classEquity100%

Sector

Sector weights in FHLC and GDOC, widest gap first
Sector	More in FHLCMore in GDOC	FHLC	GDOC
Health Care	FHLC +3.1 points	100.0%	96.9%
Technology	GDOC +3.1 points	0.0%	3.1%

Country, concentration and asset class

Country by domicile

Country weights in FHLC and GDOC, widest gap first
Country	More in FHLCMore in GDOC	FHLC	GDOC
United States	FHLC +9.6 points	99.6%	90.0%
United Kingdom	GDOC +5.2 points	0.3%	5.5%
Switzerland	GDOC +4.3 points	0.1%	4.4%
Other countries (2)	FHLC +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

FHLC53.3%
GDOC53.3%

Securities held

FHLC343
GDOC40

Asset class

FHLC: Equity
GDOC: Equity

Holdings

Only in FHLC310
In both33
Only in GDOC7

Only in FHLC

310 securities, 44.8% of FHLC by weight

Amgen Inc3.24%
Abbott Laboratories2.38%
Pfizer Inc2.24%
Danaher Corp1.91%
Bristol-Myers Squibb Co1.64%
Medtronic PLC1.59%
Mckesson Corp1.50%
Cvs Health Corp1.48%
Stryker Corp1.30%
Securities Lending Cf1.28%
Regeneron Pharmaceuticals Inc1.23%
Elevance Health Inc1.17%
Cigna Group (The)1.02%
Moderna Inc0.96%
Hca Healthcare Inc0.95%
Cardinal Health Inc0.76%
Becton Dickinson & Co0.70%
Humana Inc0.64%
Waters Corp0.59%
Iqvia Holdings Inc0.58%
Idexx Labs Inc0.56%
Biogen Inc0.48%
Ge Healthcare Technologies Inc0.45%
Illumina Inc0.45%
Centene Corp0.44%
Zoetis Inc Class A0.43%
Resmed Inc0.43%
Revolution Medicines Inc0.42%
Labcorp Holdings Inc0.38%
West Pharmaceutical Svcs Inc0.38%
Tenet Healthcare Corp0.30%
United Therapeutics Corp Del0.29%
Viatris Inc0.29%
Steris PLC0.28%
Alnylam Pharmaceuticals Inc0.28%
Incyte Corp0.26%
Roivant Sciences Ltd0.25%
Zimmer Biomet Hldgs Inc0.24%
Revvity Inc0.23%
Charles River Labs Intl Inc0.22%
Exelixis Inc0.21%
Halozyme Therapeutics Inc0.20%
Medpace Holdings Inc0.19%
State Street 60 Day Money Mark0.19%
Neurocrine Biosciences Inc0.18%
Encompass Health Corp0.17%
Glaukos Corp0.17%
Jazz Pharma PLC0.16%
Solventum Corp0.15%
Medline Inc0.15%

Only in GDOC

7 securities, 12.0% of GDOC by weight

Astrazeneca PLC Ord3.12%
Lonza Group AG2.94%
Roivant Sciences Ltd2.52%
Galderma Group AG1.50%
Argenx Se-Adr1.03%
Sartorius Stedim Biotech0.57%
Kardigan, Inc.0.33%

Weight gaps

All 33 Holdings in both funds, largest gap first.

Holding weights in FHLC and GDOC, widest gap first
Holding	More in FHLCMore in GDOC	FHLC	GDOC
AbbVie IncABBV	FHLC +3.69 points	6.71%	3.02%
Guardant Health IncGH	GDOC +3.56 points	0.28%	3.84%
Agilent Technologies IncA	GDOC +3.18 points	0.64%	3.82%
Dexcom IncDXCM	GDOC +2.92 points	0.41%	3.33%
Edwards Lifesciences CorpEW	GDOC +2.69 points	0.68%	3.37%
Johnson & JohnsonJNJ	FHLC +2.43 points	8.48%	6.05%
Vertex Pharmaceuticals IncVRTX	GDOC +2.28 points	1.83%	4.11%
Veeva Sys Inc Class AVEEV	GDOC +2.24 points	0.59%	2.83%
Cencora IncCOR	GDOC +1.82 points	0.79%	2.61%
RepligenRGEN	GDOC +1.78 points	0.13%	1.91%
Mettler-Toledo Intl IncMTD	GDOC +1.50 points	0.44%	1.94%
Royalty Pharma PLCRPRX	GDOC +1.47 points	0.36%	1.83%
Natera IncNTRA	GDOC +1.34 points	0.73%	2.07%
Insmed IncINSM	GDOC +1.26 points	0.31%	1.57%
Cytokinetics IncCYTK	GDOC +1.24 points	0.10%	1.34%
10X Genomics IncTXG	GDOC +1.19 points	0.09%	1.28%
Bridgebio Pharma IncBBIO	GDOC +1.14 points	0.15%	1.29%
Quest Diagnostics IncDGX	GDOC +1.02 points	0.36%	1.38%
UnitedHealth Group IncUNH	GDOC +1.01 points	4.76%	5.77%
Madrigal Pharmaceuticals IncMDGL	GDOC +0.71 points	0.08%	0.79%
Intuitive Surgical IncISRG	GDOC +0.55 points	1.97%	2.52%
Dianthus Therapeutics IncDNTH	GDOC +0.52 points	0.04%	0.56%
Boston Scientific CorpBSX	GDOC +0.48 points	0.80%	1.28%
Spyre Therapeutics IncSYRE	GDOC +0.46 points	0.08%	0.54%
Thermo Fisher Scientific IncTMO	GDOC +0.44 points	3.34%	3.78%
Gilead Sciences IncGILD	GDOC +0.39 points	2.73%	3.12%
Eli Lilly & CoLLY	FHLC +0.35 points	14.62%	14.27%
Kymera Therapeutics IncKYMR	GDOC +0.35 points	0.08%	0.43%
Rhythm Pharmaceuticals IncRYTM	GDOC +0.33 points	0.07%	0.40%
Definium Therapeutics IncDFTX	GDOC +0.27 points	0.05%	0.32%
Cg Oncology IncCGON	GDOC +0.26 points	0.04%	0.30%
Praxis Precision Medicines IncPRAX	GDOC +0.24 points	0.09%	0.33%
Merck & Co Inc NewMRK	GDOC +0.20 points	4.76%	4.96%

All 365 FHLC holdings⁠All 40 GDOC holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FHLC vs GDOC Cost

Overpaying GDOC vs FHLC

$12,709

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FHLC 0.084%
$1,773
GDOC 0.75%
$14,482

Amount$10,000

Years30 years

Cost over time

FHLC 0.084%
GDOC 0.75%
Overpaying

Year by year

Year	FHLC	GDOC	Overpaying
10	$154	$1,336	$1,182
20	$603	$5,078	$4,475
30	$1,773	$14,482	$12,709

Expense ratio

0.08%FHLC, cheaper
0.75%GDOC

FHLC0.08%GDOC0.75%

0.08%0.85%

Middle half of Health Care (Broad) funds
Median 0.50%

FHLC 2nd cheapest of 25 funds

GDOC 22nd cheapest of 25 funds

FHLC vs GDOC Dividends

Last 12 months to Nov 2, 2026

Yield (12M): FHLC 1.15%, better; GDOC 0.29%
Payout (12M): FHLC $1.02; GDOC $0.11
Last payment: FHLC $0.25; GDOC $0.11
Ex-dividend: FHLC Sep 18, 2026; GDOC Dec 23, 2025
Paid on: FHLC Sep 22, 2026; GDOC Dec 30, 2025
Frequency: FHLC Quarterly; GDOC Annual

Distribution history

Per share, 2017 to 2026, same scale for both

FHLCQuarterly · 40 paymentsAll FHLC payments⁠

GDOCAnnual · 4 paymentsAll GDOC payments⁠

FHLC vs GDOC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: FHLC 14.5%, betterGDOC 15.5%
Return per unit of riskSharpe ratio, 3 years: FHLC 0.83, betterGDOC 0.53
Worst fallMax drawdown, 5 years: FHLC −17.7%GDOC −31.0%since Nov 2021
Market sensitivityBeta, 5 years: FHLC 0.59GDOC 0.76; Market = 1

FHLC and GDOC in the news

All news⁠

Category Review
Health care funds trail the S&P 500 this year
Updated Oct 7, 2026FHLC
Deep Dive
Health care's 1.8% week was four large caps, not a biotech rally
Sep 19, 2026FHLC

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