FIDAX vs. SFPAX
FIDAX (John Hancock Financial Industries Fund) and SFPAX (Saratoga Financial Service Fund) are both Financials Equities funds from BlackRock. Over the past 10 years, FIDAX returned 11.11%/yr vs 9.04%/yr for SFPAX. Their correlation of 0.95 suggests significant overlap in exposure. FIDAX charges 1.24%/yr vs 3.81%/yr for SFPAX.
Performance
FIDAX vs. SFPAX - Performance Comparison
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Returns By Period
Over the past 10 years, FIDAX has outperformed SFPAX with an annualized return of 11.11%, while SFPAX has yielded a comparatively lower 9.04% annualized return.
FIDAX
- 1D
- 0.14%
- 1M
- 3.45%
- 6M
- 4.42%
- YTD
- 5.72%
- 1Y
- 12.24%
- 3Y*
- 20.22%
- 5Y*
- 8.56%
- 10Y*
- 11.11%
SFPAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 0.82%
- 3Y*
- 15.10%
- 5Y*
- 6.22%
- 10Y*
- 9.04%
FIDAX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIDAX John Hancock Financial Industries Fund | 5.72% | 12.05% | 30.09% | 5.01% | -14.17% | 28.80% | 1.58% | 31.21% | -15.30% | 11.00% |
SFPAX Saratoga Financial Service Fund | 0.00% | 7.00% | 26.05% | 10.58% | -14.36% | 31.17% | -5.81% | 29.63% | -19.23% | 19.28% |
Correlation
The correlation between FIDAX and SFPAX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.95 |
Over the past year, the correlation between FIDAX and SFPAX has dropped to 0.51 - well below their long-term average of 0.95, suggesting their price drivers have been diverging.
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Return for Risk
FIDAX vs. SFPAX — Risk / Return Rank
FIDAX
SFPAX
FIDAX vs. SFPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for John Hancock Financial Industries Fund (FIDAX) and Saratoga Financial Service Fund (SFPAX). 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.
| FIDAX | SFPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 0.98 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.81 | -0.21 | +1.02 |
| Martin ratioReturn relative to average drawdown | 2.27 | -0.42 | +2.69 |
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Drawdowns
FIDAX vs. SFPAX - Drawdown Comparison
The maximum FIDAX drawdown since its inception was -70.42%, roughly equal to the maximum SFPAX drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for FIDAX and SFPAX.
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Drawdown Indicators
| FIDAX | SFPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.42% | -71.98% | +1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -13.82% | -4.86% | -8.96% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -17.92% | -1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -30.89% | -27.51% | -3.38% |
Max Drawdown (10Y)Largest decline over 10 years | -42.09% | -45.64% | +3.55% |
Current DrawdownCurrent decline from peak | -0.35% | -2.65% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -14.03% | -20.91% | +6.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.91% | 2.32% | +2.59% |
Volatility
FIDAX vs. SFPAX - Volatility Comparison
John Hancock Financial Industries Fund (FIDAX) has a higher volatility of 3.90% compared to Saratoga Financial Service Fund (SFPAX) at 0.00%. This indicates that FIDAX's price experiences larger fluctuations and is considered to be riskier than SFPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIDAX | SFPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 0.00% | +3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 12.44% | 1.96% | +10.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.19% | 9.20% | +6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.60% | 18.73% | +1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.79% | 22.51% | -0.72% |
FIDAX vs. SFPAX - Expense Ratio Comparison
FIDAX has a 1.24% expense ratio, which is lower than SFPAX's 3.81% expense ratio.
Dividends
FIDAX vs. SFPAX - Dividend Comparison
FIDAX's dividend yield for the trailing twelve months is around 45.58%, while SFPAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIDAX John Hancock Financial Industries Fund | 45.58% | 48.19% | 10.24% | 1.91% | 11.22% | 23.08% | 5.41% | 7.56% | 7.72% | 6.10% | 6.01% | 0.93% |
SFPAX Saratoga Financial Service Fund | 0.00% | 0.00% | 5.91% | 5.05% | 5.71% | 5.03% | 4.18% | 7.10% | 22.58% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FIDAX and SFPAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIDAX has higher volatility (3.90%) compared to SFPAX (0.00%). In terms of maximum drawdown, FIDAX dropped -70.42% vs SFPAX's -71.98%.
FIDAX currently has the higher Sharpe Ratio (0.69 vs -0.11), 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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