PSCH vs VHT: Grades, Fees and Holdings Compared

Invesco S&P SmallCap Health Care ETF

PSCHBNasdaq

Vanguard Health Care ETF

VHTANYSE Arca

Overlap

2.4%by weight

Expense ratio

VHT −0.20pt a year

PSCH0.29%VHT0.09%

Avg volume · 30D

VHT 9.2×the volume

PSCH25.8KVHT237K

10Y return · a year

VHT +2.7pt

PSCH+9.8%VHT+12.5%

PSCH vs VHT Performance

Nov 2, 2021 – Nov 2, 2026

−10.0%PSCH+40.9%VHT

Expense ratio: PSCH 0.29%; VHT 0.09%, better
Fund size: PSCH $179M; VHT $21.8B
1Y total return: PSCH +30.7%, better; VHT +28.3%
Yield (12M): PSCH 0.00%; VHT 1.35%, better
Holdings: PSCH 72; VHT 416
Avg volume (30D): PSCH 25.8K sh; VHT 237K sh, better
NAV per share: PSCH $55.73; VHT $342.46
52W range

ETF.net Grade

Pillar letters and Scores for PSCH, VHT, with each pillar’s weight
Pillar	PSCH	VHT
Cost30% weight	A88	A92Higher
Mission25% weight	Not scored	A82
Risk15% weight	C49	A79Higher
Tradability15% weight	C45	B57Higher
Holdings10% weight	A73Higher	B58
Durability5% weight	B62	A92Higher

Rank among Health Care (Broad) funds

How we build Categories ›

Same Category. PSCH and VHT 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 ›

VHT ranks 3rd and PSCH 8th 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 4AXHSState Street SPDR S&P Health Care Services ETFScore 74
Rank 7BRSPHInvesco S&P 500 Equal Weight Health Care ETFScore 68
Rank 8BPSCHInvesco S&P SmallCap Health Care ETFScore 67
Rank 9BXHEState Street SPDR S&P Health Care Equipment ETFScore 64

Our read on each fund

ETF.net Research

PSCHBInvesco S&P SmallCap Health Care ETF

VHTAVanguard Health Care ETF

In short

PSCH Health care, minus the mega-cap pharma giants. PSCH tracks a capped small-cap health care index from the S&P SmallCap 600: roughly 70 companies, same sector as the household-name funds, opposite end of the size spectrum, for 0.29% a year.

VHT The whole US health care sector in one ticket: roughly 400 stocks, an index that reaches well past the megacaps, and a nine-basis-point fee. Trading since 2004, it is one of the category's originals.

Stated mandate

PSCH The Fund is based on the S&P SmallCap 600® Capped Health Care Index and normally invests at least 90% of its assets in securities represented by that Index.

VHT The fund seeks to track a benchmark index measuring the investment return of health care stocks.

Why people hold it

PSCH Charges 0.29% a year, well below the median fee in its broad health care peer group. Cheap access to the small-cap corner of the sector.
Rules-based and plain: normally at least 90% of assets in the securities of the S&P SmallCap 600 Capped Health Care Index, roughly 70 names, with index caps limiting how large any one position gets.
Running since 2010, through multiple biotech boom-and-bust cycles, and one of the stronger builds among the two dozen broad health care ETFs we track.

VHT Costs 0.09% a year while the typical fund in its health care peer group charges 0.50%. Same sector, a fraction of the toll.
Roughly 400 holdings drawn from an investable-market index, so mid and small health care companies count too, not just the sector's giants.vanguard.com
Two decades old, now a multi-billion-dollar fund, moderately traded, and it has hugged its benchmark closely. Pays out quarterly.
On cost, tracking and tradability together, it stands among the strongest builds in a 24-fund health care cohort.

Worth knowing

PSCH Trades lightly next to the mega-cap sector funds, so bid-ask spreads and market impact matter more here, particularly in size or in a fast-moving market.
Small-cap health care is the jumpy end of the sector, and a roughly 70-stock lineup means single-company news lands harder than in a sprawling mega-cap fund.
Distributions come once or twice a year, not monthly. This is a sector equity sleeve, not an income-first holding.

VHT FHLC and XLV each shave a basis point off the fee. If the fee line is your only tiebreaker, VHT is not the final word.
One sector, one news cycle. Drug pricing rules, patent expirations and regulatory decisions can move the entire basket at once.vanguard.com
Cap-weighted with a 25/50 diversification rule, so no single name can dominate outright, but the largest pharma and insurer positions still steer most of the ride.vanguard.com

Full PSCH profile⁠

Full VHT profile⁠

PSCH vs VHT Holdings

How PSCH and VHT differ

Overlap by weight

2.4%

Shared holdings make up 98.4% of PSCH and 2.4% of VHT.

Level by level

Holdings67 in both2.4%
Sector4 Sectors98.8%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in PSCH and VHT, widest gap first
Sector	More in PSCHMore in VHT	PSCH	VHT
Financials	PSCH +1.2 points	1.2%	0.0%
Health Care	VHT +1.2 points	98.8%	100.0%
Industrials	Same weight	0.0%	0.0%
Technology	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in PSCH and VHT, widest gap first
Country	More in PSCHMore in VHT	PSCH	VHT
United States	Same weight	100.0%	100.0%

Concentration

Weight in the 10 largest Holdings

PSCH36.6%
VHT51.8%

Securities held

PSCH71
VHT414

Asset class

PSCH: Equity
VHT: Equity

Holdings

Only in PSCH4
In both67
Only in VHT347

Only in PSCH

4 securities, 1.6% of PSCH by weight

Azenta Inc0.78%
Astrana Health Inc0.78%
Invesco Government & Agency Portfolio0.04%
Securities Lending - Bnym0.00%

Only in VHT

347 securities, 97.3% of VHT by weight

Eli Lilly & Co12.93%
Johnson & Johnson8.78%
AbbVie Inc6.45%
Merck & Co Inc5.01%
UnitedHealth Group Inc4.65%
Thermo Fisher Scientific Inc3.50%
Amgen Inc3.18%
Gilead Sciences Inc2.58%
Abbott Laboratories2.40%
Pfizer Inc2.27%
Intuitive Surgical Inc2.01%
Danaher Corp1.97%
Vertex Pharmaceuticals Inc1.85%
Bristol-Myers Squibb Co1.78%
Medtronic PLC1.54%
CVS Health Corp1.53%
McKesson Corp1.40%
Stryker Corp1.33%
Elevance Health Inc1.14%
Regeneron Pharmaceuticals Inc1.09%
Cigna Group/The1.00%
HCA Healthcare Inc0.93%
Moderna Inc0.91%
Boston Scientific Corp0.91%
Natera Inc0.79%
Cencora Inc0.77%
Cardinal Health Inc0.73%
Edwards Lifesciences Corp0.69%
Becton Dickinson & Co0.69%
Agilent Technologies Inc0.68%
Humana Inc0.64%
IQVIA Holdings Inc0.63%
Waters Corp0.60%
Veeva Systems Inc0.58%
IDEXX Laboratories Inc0.57%
Illumina Inc0.56%
Revolution Medicines Inc0.49%
Biogen Inc0.47%
Dexcom Inc0.46%
Alnylam Pharmaceuticals Inc0.46%
ResMed Inc0.45%
Centene Corp0.43%
Mettler-Toledo International Inc0.43%
GE HealthCare Technologies Inc0.42%
Zoetis Inc0.41%
West Pharmaceutical Services Inc0.37%
Quest Diagnostics Inc0.36%
Labcorp Holdings Inc0.35%
Insmed Inc0.34%
Tenet Healthcare Corp0.31%

Weight gaps

All 67 Holdings in both funds, largest gap first.

Holding weights in PSCH and VHT, widest gap first
Holding	More in PSCHMore in VHT	PSCH	VHT
Glaukos CorpGKOS	PSCH +6.97 points	7.10%	0.13%
Protagonist Therapeutics IncPTGX	PSCH +4.65 points	4.75%	0.10%
TG Therapeutics IncTGTX	PSCH +4.29 points	4.40%	0.11%
Alkermes PLCALKS	PSCH +3.76 points	3.85%	0.09%
Ligand Pharmaceuticals IncLGND	PSCH +3.17 points	3.26%	0.09%
Teleflex IncTFX	PSCH +2.92 points	3.00%	0.08%
RadNet IncRDNT	PSCH +2.58 points	2.64%	0.06%
Merit Medical Systems IncMMSI	PSCH +2.54 points	2.61%	0.07%
PTC Therapeutics IncPTCT	PSCH +2.48 points	2.54%	0.06%
Concentra Group Holdings Parent IncCON	PSCH +2.37 points	2.43%	0.06%
Integer Holdings CorpITGR	PSCH +2.12 points	2.18%	0.06%
Indivior Pharmaceuticals IncINDV	PSCH +2.06 points	2.11%	0.05%
ICU Medical IncICUI	PSCH +2.02 points	2.07%	0.05%
Veracyte IncVCYT	PSCH +1.98 points	2.03%	0.05%
Amneal Pharmaceuticals IncAMRX	PSCH +1.97 points	2.01%	0.04%
Arcutis Biotherapeutics IncARQT	PSCH +1.82 points	1.86%	0.04%
LifeStance Health Group IncLFST	PSCH +1.79 points	1.83%	0.04%
Organon & CoOGN	PSCH +1.79 points	1.84%	0.05%
Waystar Holding CorpWAY	PSCH +1.67 points	1.71%	0.04%
Liquidia CorpLQDA	PSCH +1.67 points	1.70%	0.03%
AtriCure IncATRC	PSCH +1.54 points	1.58%	0.04%
Acadia Healthcare Co IncACHC	PSCH +1.38 points	1.41%	0.03%
Privia Health Group IncPRVA	PSCH +1.36 points	1.39%	0.03%
ACADIA Pharmaceuticals IncACAD	PSCH +1.32 points	1.35%	0.03%
National HealthCare CorpNHC	PSCH +1.29 points	1.33%	0.04%
Neogen CorpNEOG	PSCH +1.27 points	1.31%	0.04%
ADMA Biologics IncADMA	PSCH +1.27 points	1.30%	0.03%
CorVel CorpCRVL	PSCH +1.25 points	1.28%	0.03%
Supernus Pharmaceuticals IncSUPN	PSCH +1.21 points	1.24%	0.03%
Pediatrix Medical Group IncMD	PSCH +1.17 points	1.20%	0.03%
Prestige Consumer Healthcare IncPBH	PSCH +1.15 points	1.18%	0.03%
Addus HomeCare CorpADUS	PSCH +1.13 points	1.16%	0.03%
TransMedics Group IncTMDX	PSCH +1.12 points	1.16%	0.04%
Progyny IncPGNY	PSCH +1.11 points	1.14%	0.03%
NeoGenomics IncNEO	PSCH +1.10 points	1.13%	0.03%
UFP Technologies IncUFPT	PSCH +1.09 points	1.12%	0.03%
Perrigo Co PLCPRGO	PSCH +1.08 points	1.11%	0.03%
Vericel CorpVCEL	PSCH +1.02 points	1.05%	0.03%
Xencor IncXNCR	PSCH +1.01 points	1.03%	0.02%
Fortrea Holdings IncFTRE	PSCH +1.00 points	1.03%	0.03%
Inspire Medical Systems IncINSP	PSCH +0.98 points	1.00%	0.02%
Sarepta Therapeutics IncSRPT	PSCH +0.98 points	1.00%	0.02%
Harmony Biosciences Holdings IncHRMY	PSCH +0.94 points	0.97%	0.03%
Arcus Biosciences IncRCUS	PSCH +0.94 points	0.97%	0.03%
AMN Healthcare Services IncAMN	PSCH +0.90 points	0.92%	0.02%
LeMaitre Vascular IncLMAT	PSCH +0.85 points	0.87%	0.02%
Omnicell IncOMCL	PSCH +0.83 points	0.85%	0.02%
Schrodinger Inc/United StatesSDGR	PSCH +0.76 points	0.79%	0.03%
Innoviva IncINVA	PSCH +0.76 points	0.78%	0.02%
Pacira BioSciences IncPCRX	PSCH +0.73 points	0.74%	0.01%
ANI Pharmaceuticals IncANIP	PSCH +0.71 points	0.73%	0.02%
Vir Biotechnology IncVIR	PSCH +0.71 points	0.73%	0.02%
Alignment Healthcare IncALHC	PSCH +0.67 points	0.69%	0.02%
Tandem Diabetes Care IncTNDM	PSCH +0.65 points	0.67%	0.02%
CONMED CorpCNMD	PSCH +0.65 points	0.67%	0.02%
US Physical Therapy IncUSPH	PSCH +0.63 points	0.65%	0.02%
Certara IncCERT	PSCH +0.62 points	0.63%	0.01%
Enovis CorpENOV	PSCH +0.57 points	0.58%	0.01%
Artivion IncAORT	PSCH +0.55 points	0.56%	0.01%
QuidelOrtho CorpQDEL	PSCH +0.45 points	0.46%	0.01%
Amphastar Pharmaceuticals IncAMPH	PSCH +0.43 points	0.44%	0.01%
Integra LifeSciences Holdings CorpIART	PSCH +0.41 points	0.43%	0.01%
Phibro Animal Health CorpPAHC	PSCH +0.41 points	0.42%	0.01%
HealthStream IncHSTM	PSCH +0.39 points	0.40%	<0.01%
Collegium Pharmaceutical IncCOLL	PSCH +0.38 points	0.39%	<0.01%
Staar Surgical CoSTAA	PSCH +0.36 points	0.37%	<0.01%
AdaptHealth CorpAHCO	PSCH +0.30 points	0.31%	<0.01%

All 70 PSCH holdings⁠All 411 VHT 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.

PSCH vs VHT Cost

Overpaying PSCH vs VHT

$4,054

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

PSCH 0.29%
$5,952
VHT 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

PSCH 0.29%
VHT 0.09%
Overpaying

Year by year

Year	PSCH	VHT	Overpaying
10	$527	$165	$362
20	$2,044	$646	$1,398
30	$5,952	$1,898	$4,054

Expense ratio

0.29%PSCH
0.09%VHT, cheaper

VHT0.09%PSCH0.29%

0.08%0.85%

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

VHT 3rd cheapest of 25 funds

PSCH 4th cheapest of 25 funds

PSCH vs VHT Dividends

Last 12 months to Nov 2, 2026

Yield (12M): PSCH 0.00%; VHT 1.35%, better
Payout (12M): PSCH $0.00033; VHT $4.61
Last payment: PSCH $0.00033; VHT $0.97
Ex-dividend: PSCH Mar 23, 2026; VHT Sep 23, 2026
Paid on: PSCH Mar 27, 2026; VHT Sep 25, 2026
Frequency: PSCH Twice a year; VHT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

PSCHTwice a year · 9 paymentsAll PSCH payments⁠

VHTQuarterly · 39 paymentsAll VHT payments⁠

PSCH vs VHT Risk

Fall from peak · 5 years

PSCH
VHT

Risk facts

VolatilityStd dev, 3 years: PSCH 21.3%VHT 14.5%, better
Return per unit of riskSharpe ratio, 3 years: PSCH 0.61VHT 0.83, better
Worst fallMax drawdown, 5 years: PSCH −45.8%VHT −17.7%, better
Market sensitivityBeta, 5 years: PSCH 0.96VHT 0.58; Market = 1

PSCH and VHT in the news

All news⁠

Category Review
Health care funds trail the S&P 500 this year
Updated Oct 7, 2026VHT
Deep Dive
Eli Lilly is 15% of the biggest health care ETF
Sep 25, 2026VHT
Deep Dive
Health care ETFs spent 2026 between a 28% biotech rally and a 16% device slide
Sep 14, 2026VHT

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