FHCCX vs. SHPAX
FHCCX (Fidelity Advisor Health Care Fund Class C) and SHPAX (Saratoga Health & Biotechnology Fund) are both Health & Biotech Equities funds. Over the past 10 years, FHCCX returned 6.51%/yr vs 6.90%/yr for SHPAX. Their correlation of 0.82 means they have usually moved in the same direction. FHCCX charges 1.72%/yr vs 2.90%/yr for SHPAX.
Performance
FHCCX vs. SHPAX - Performance Comparison
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Returns By Period
In the year-to-date period, FHCCX achieves a 10.04% return, which is significantly higher than SHPAX's 8.70% return. Over the past 10 years, FHCCX has underperformed SHPAX with an annualized return of 6.51%, while SHPAX has yielded a comparatively higher 6.90% annualized return.
FHCCX
- 1D
- 0.00%
- 1M
- -1.31%
- 6M
- 9.98%
- YTD
- 10.04%
- 1Y
- 9.60%
- 3Y*
- 2.43%
- 5Y*
- -0.65%
- 10Y*
- 6.51%
- ALL TIME*
- 9.31%
SHPAX
- 1D
- -0.43%
- 1M
- 0.61%
- 6M
- 6.99%
- YTD
- 8.70%
- 1Y
- 28.95%
- 3Y*
- 9.65%
- 5Y*
- 5.82%
- 10Y*
- 6.90%
- ALL TIME*
- 6.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FHCCX vs. SHPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FHCCX Fidelity Advisor Health Care Fund Class C | 10.04% | -5.49% | 3.20% | 3.02% | -13.72% | 10.43% | 20.15% | 26.96% | 6.37% | 23.12% |
SHPAX Saratoga Health & Biotechnology Fund | 8.70% | 17.43% | 0.26% | -0.36% | 1.93% | 16.71% | 3.52% | 27.67% | -5.30% | 11.78% |
Correlation
The correlation between FHCCX and SHPAX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.78 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000 | 0.82 |
The correlation between FHCCX and SHPAX shifts across timeframes, from 0.67 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FHCCX vs. SHPAX — Risk / Return Rank
FHCCX
SHPAX
FHCCX vs. SHPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Health Care Fund Class C (FHCCX) and Saratoga Health & Biotechnology Fund (SHPAX). 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.
| FHCCX | SHPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.31 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.31 | 2.85 | -2.54 |
| Martin ratioReturn relative to average drawdown | 0.54 | 7.30 | -6.76 |
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Drawdowns
FHCCX vs. SHPAX - Drawdown Comparison
The maximum FHCCX drawdown since its inception was -45.28%, smaller than the maximum SHPAX drawdown of -69.50%. Use the drawdown chart below to compare losses from any high point for FHCCX and SHPAX.
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Drawdown Indicators
| FHCCX | SHPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.28% | -69.50% | +24.22% |
Max Drawdown (1Y)Largest decline over 1 year | -27.25% | -9.33% | -17.92% |
Max Drawdown (3Y)Largest decline over 3 years | -27.25% | -16.32% | -10.93% |
Max Drawdown (5Y)Largest decline over 5 years | -29.67% | -16.32% | -13.35% |
Max Drawdown (10Y)Largest decline over 10 years | -29.67% | -28.05% | -1.62% |
Current DrawdownCurrent decline from peak | -11.25% | -1.20% | -10.05% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -27.78% | +17.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.50% | 3.65% | +11.85% |
Volatility
FHCCX vs. SHPAX - Volatility Comparison
The current volatility for Fidelity Advisor Health Care Fund Class C (FHCCX) is 5.13%, while Saratoga Health & Biotechnology Fund (SHPAX) has a volatility of 5.55%. This indicates that FHCCX experiences smaller price fluctuations and is considered to be less risky than SHPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHCCX | SHPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 5.55% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 13.45% | 11.34% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.46% | 14.93% | +9.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.78% | 14.53% | +5.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.61% | 16.65% | +2.96% |
FHCCX vs. SHPAX - Expense Ratio Comparison
FHCCX has a 1.72% expense ratio, which is lower than SHPAX's 2.90% expense ratio.
Dividends
FHCCX vs. SHPAX - Dividend Comparison
FHCCX has not paid dividends to shareholders, while SHPAX's dividend yield for the trailing twelve months is around 3.37%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHCCX Fidelity Advisor Health Care Fund Class C | 0.00% | 0.00% | 17.59% | 0.00% | 0.00% | 8.32% | 6.85% | 0.41% | 6.43% | 0.00% | 0.00% | 7.84% |
SHPAX Saratoga Health & Biotechnology Fund | 3.37% | 3.66% | 1.35% | 5.38% | 6.34% | 3.76% | 13.82% | 13.24% | 22.00% | 17.98% | 12.52% | 10.70% |
Frequently Asked Questions
FHCCX and SHPAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SHPAX has higher volatility (5.55%) compared to FHCCX (5.13%). In terms of maximum drawdown, FHCCX dropped -45.28% vs SHPAX's -69.50%.
SHPAX currently has the higher Sharpe Ratio (1.78 vs 0.35), 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.
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