FSPCX vs. SFPAX
FSPCX (Fidelity Select Insurance Portfolio) and SFPAX (Saratoga Financial Service Fund) are both Financials Equities funds. Over the past 10 years, FSPCX returned 13.07%/yr vs 9.04%/yr for SFPAX. Their correlation of 0.86 suggests significant overlap in exposure. FSPCX charges 0.78%/yr vs 3.81%/yr for SFPAX.
Performance
FSPCX vs. SFPAX - Performance Comparison
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Returns By Period
Over the past 10 years, FSPCX has outperformed SFPAX with an annualized return of 13.07%, while SFPAX has yielded a comparatively lower 9.04% annualized return.
FSPCX
- 1D
- 0.03%
- 1M
- 8.31%
- 6M
- 8.86%
- YTD
- 8.14%
- 1Y
- 10.22%
- 3Y*
- 16.45%
- 5Y*
- 14.30%
- 10Y*
- 13.07%
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%
FSPCX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSPCX Fidelity Select Insurance Portfolio | 8.14% | 3.45% | 28.44% | 12.98% | 7.75% | 29.26% | 0.00% | 30.06% | -11.99% | 15.50% |
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 FSPCX and SFPAX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.86 |
Over the past year, the correlation between FSPCX and SFPAX has dropped to 0.35 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.
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Return for Risk
FSPCX vs. SFPAX — Risk / Return Rank
FSPCX
SFPAX
FSPCX vs. SFPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Insurance Portfolio (FSPCX) 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.
| FSPCX | SFPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +1.02 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 0.98 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | -0.21 | +1.14 |
| Martin ratioReturn relative to average drawdown | 1.90 | -0.42 | +2.32 |
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Drawdowns
FSPCX vs. SFPAX - Drawdown Comparison
The maximum FSPCX drawdown since its inception was -69.48%, roughly equal to the maximum SFPAX drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for FSPCX and SFPAX.
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Drawdown Indicators
| FSPCX | SFPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.48% | -71.98% | +2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.98% | -4.86% | -5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -11.69% | -17.92% | +6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -16.65% | -27.51% | +10.86% |
Max Drawdown (10Y)Largest decline over 10 years | -43.68% | -45.64% | +1.96% |
Current DrawdownCurrent decline from peak | -1.12% | -2.65% | +1.53% |
Average DrawdownAverage peak-to-trough decline | -9.69% | -20.91% | +11.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.89% | 2.32% | +2.57% |
Volatility
FSPCX vs. SFPAX - Volatility Comparison
Fidelity Select Insurance Portfolio (FSPCX) has a higher volatility of 5.61% compared to Saratoga Financial Service Fund (SFPAX) at 0.00%. This indicates that FSPCX'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
| FSPCX | SFPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 0.00% | +5.61% |
Volatility (6M)Calculated over the trailing 6-month period | 12.06% | 1.96% | +10.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.99% | 9.20% | +6.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.54% | 18.73% | -1.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.05% | 22.51% | -2.46% |
FSPCX vs. SFPAX - Expense Ratio Comparison
FSPCX has a 0.78% expense ratio, which is lower than SFPAX's 3.81% expense ratio.
Dividends
FSPCX vs. SFPAX - Dividend Comparison
FSPCX's dividend yield for the trailing twelve months is around 4.35%, while SFPAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSPCX Fidelity Select Insurance Portfolio | 4.35% | 3.35% | 8.72% | 8.48% | 0.74% | 8.40% | 8.80% | 6.90% | 32.69% | 12.52% | 2.81% | 3.11% |
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
FSPCX and SFPAX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSPCX has higher volatility (5.61%) compared to SFPAX (0.00%). In terms of maximum drawdown, FSPCX dropped -69.48% vs SFPAX's -71.98%.
FSPCX currently has the higher Sharpe Ratio (0.58 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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