- ISIN
- US80343J7182
- Issuer
- Saratoga
- Inception Date
- Dec 28, 2017
- Category
- Diversified Portfolio
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Mid-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
LUNAX Performance Chart
Saratoga Conservative Balanced Allocation Portfolio (LUNAX) is up 4.0% since the beginning of the year. LUNAX is currently trading at $12 per share. Investors who bought $1,000 worth of LUNAX shares 5 years ago would now be looking at an investment worth $1,320.
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Returns By Period
Saratoga Conservative Balanced Allocation Portfolio (LUNAX) has returned 4.00% so far this year and 11.38% over the past 12 months.
Saratoga Conservative Balanced Allocation Portfolio
- 1D
- 0.78%
- 1M
- 2.01%
- YTD
- 4.00%
- 6M
- 3.45%
- 1Y
- 11.38%
- 3Y*
- 9.84%
- 5Y*
- 5.71%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
LUNAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 11, 2018, LUNAX's average daily return is +0.02%, while the average monthly return is +0.49%. At this rate, an investment would double in approximately 11.8 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2020 with a return of +5.6%, while the worst month was Mar 2020 at -6.9%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 4 months.
On a daily basis, LUNAX closed higher 49% of trading days. The best single day was Mar 25, 2020 with a return of +4.8%, while the worst single day was Mar 16, 2020 at -5.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.80% | 0.88% | -3.67% | 3.81% | 1.40% | 0.86% | 4.00% | ||||||
| 2025 | 2.08% | -0.71% | -2.14% | 1.09% | 2.61% | 2.81% | 0.85% | 1.18% | 1.25% | 0.74% | 0.74% | 0.03% | 10.95% |
| 2024 | 0.47% | 1.79% | 1.67% | -2.92% | 2.16% | 0.74% | 2.10% | 0.89% | 1.60% | -0.87% | 3.17% | -2.19% | 8.76% |
| 2023 | 3.05% | -0.49% | -0.20% | -0.00% | -0.00% | 2.38% | 0.97% | -0.58% | -1.64% | -0.98% | 3.97% | 3.18% | 9.89% |
| 2022 | -3.27% | -0.18% | 0.46% | -3.74% | -0.00% | -3.98% | 3.55% | -0.86% | -3.46% | 2.09% | 2.34% | -1.74% | -8.78% |
| 2021 | 0.45% | 1.35% | 1.96% | 2.18% | 0.26% | 0.68% | 0.17% | 1.27% | -2.00% | 2.72% | -1.16% | 2.27% | 10.51% |
Benchmark Metrics
Saratoga Conservative Balanced Allocation Portfolio has an annualized alpha of 0.46%, beta of 0.40, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since January 11, 2018.
- This fund participated in 48.52% of S&P 500 Index downside but only 38.85% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.40 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.46%
- Beta
- 0.40
- R²
- 0.80
- Upside Capture
- 38.85%
- Downside Capture
- 48.52%
Expense Ratio
LUNAX has a high expense ratio of 0.99%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
LUNAX ranks 39 for risk / return — below 39% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Saratoga Conservative Balanced Allocation Portfolio (LUNAX) and compare them to S&P 500 Index.
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.
| LUNAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.37 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 2.78 | -0.65 |
| Martin ratioReturn relative to average drawdown | 9.08 | 12.44 | -3.36 |
Dividends
Dividend History
Saratoga Conservative Balanced Allocation Portfolio provided a 9.00% dividend yield over the last twelve months, with an annual payout of $1.05 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.05 | $1.05 | $0.39 | $0.27 | $0.48 | $0.88 | $0.05 | $0.37 | $0.20 |
Dividend yield | 9.00% | 9.36% | 3.54% | 2.54% | 4.91% | 7.81% | 0.46% | 3.57% | 2.14% |
Monthly Dividends
The table displays the monthly dividend distributions for Saratoga Conservative Balanced Allocation Portfolio. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.05 | $1.05 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.39 | $0.39 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.27 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.48 | $0.48 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.88 | $0.88 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Saratoga Conservative Balanced Allocation Portfolio. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Saratoga Conservative Balanced Allocation Portfolio was 18.47%, occurring on Mar 24, 2020. Recovery took 108 trading sessions.
The current Saratoga Conservative Balanced Allocation Portfolio drawdown is 0.09%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -18.47%Mar 2020 | 1mo 2d | 5mo 5d | 6mo 7dFeb 2020 - Aug 2020 |
Bear market2022 | -11.78%Oct 2022 | 11mo 1d | 1y 2mo | 2y 1moNov 2021 - Dec 2023 |
Rate-hike selloffLate 2018 | -10.19%Dec 2018 | 3mo 1d | 5mo 28d | 8mo 29dSep 2018 - Jun 2019 |
2025 selloff2025 | -7.83%Apr 2025 | 4mo | 1mo 26d | 5mo 26dDec 2024 - Jun 2025 |
2018 pullback2018 | -5.45%Feb 2018 | 10d | 6mo 14d | 6mo 24dJan 2018 - Aug 2018 |
Drawdown Indicators
| LUNAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.47% | -56.78% | +38.31% |
Max Drawdown (1Y)Largest decline over 1 year | -5.41% | -9.10% | +3.69% |
Max Drawdown (3Y)Largest decline over 3 years | -7.83% | -18.90% | +11.07% |
Max Drawdown (5Y)Largest decline over 5 years | -11.78% | -25.43% | +13.65% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.09% | -1.80% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -2.83% | -10.71% | +7.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.27% | 2.03% | -0.76% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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