FSRBX vs. SFPAX
FSRBX (Fidelity Select Banking Portfolio) and SFPAX (Saratoga Financial Service Fund) are both Financials Equities funds. Over the past 10 years, FSRBX returned 12.26%/yr vs 9.04%/yr for SFPAX. Their correlation of 0.90 suggests significant overlap in exposure. FSRBX charges 0.73%/yr vs 3.81%/yr for SFPAX.
Performance
FSRBX vs. SFPAX - Performance Comparison
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Returns By Period
Over the past 10 years, FSRBX has outperformed SFPAX with an annualized return of 12.26%, while SFPAX has yielded a comparatively lower 9.04% annualized return.
FSRBX
- 1D
- 0.60%
- 1M
- 3.66%
- 6M
- 12.49%
- YTD
- 15.24%
- 1Y
- 19.13%
- 3Y*
- 27.65%
- 5Y*
- 11.42%
- 10Y*
- 12.26%
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%
FSRBX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSRBX Fidelity Select Banking Portfolio | 15.24% | 11.11% | 30.13% | 8.48% | -12.61% | 38.21% | -11.73% | 35.60% | -19.04% | 12.72% |
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 FSRBX and SFPAX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.90 |
Over the past year, the correlation between FSRBX and SFPAX has dropped to 0.48 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.
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Return for Risk
FSRBX vs. SFPAX — Risk / Return Rank
FSRBX
SFPAX
FSRBX vs. SFPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Banking Portfolio (FSRBX) 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.
| FSRBX | SFPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.98 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.18 | -0.21 | +1.39 |
| Martin ratioReturn relative to average drawdown | 3.08 | -0.42 | +3.50 |
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Drawdowns
FSRBX vs. SFPAX - Drawdown Comparison
The maximum FSRBX drawdown since its inception was -76.89%, which is greater than SFPAX's maximum drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for FSRBX and SFPAX.
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Drawdown Indicators
| FSRBX | SFPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.89% | -71.98% | -4.91% |
Max Drawdown (1Y)Largest decline over 1 year | -15.60% | -4.86% | -10.74% |
Max Drawdown (3Y)Largest decline over 3 years | -26.05% | -17.92% | -8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -41.95% | -27.51% | -14.44% |
Max Drawdown (10Y)Largest decline over 10 years | -51.23% | -45.64% | -5.59% |
Current DrawdownCurrent decline from peak | -0.52% | -2.65% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -13.24% | -20.91% | +7.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.94% | 2.32% | +3.62% |
Volatility
FSRBX vs. SFPAX - Volatility Comparison
Fidelity Select Banking Portfolio (FSRBX) has a higher volatility of 5.39% compared to Saratoga Financial Service Fund (SFPAX) at 0.00%. This indicates that FSRBX'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
| FSRBX | SFPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.39% | 0.00% | +5.39% |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | 1.96% | +13.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.70% | 9.20% | +13.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.71% | 18.73% | +7.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.36% | 22.51% | +6.85% |
FSRBX vs. SFPAX - Expense Ratio Comparison
FSRBX has a 0.73% expense ratio, which is lower than SFPAX's 3.81% expense ratio.
Dividends
FSRBX vs. SFPAX - Dividend Comparison
FSRBX's dividend yield for the trailing twelve months is around 2.07%, while SFPAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSRBX Fidelity Select Banking Portfolio | 2.07% | 1.47% | 4.49% | 5.35% | 6.12% | 3.36% | 8.63% | 5.90% | 32.02% | 2.57% | 0.76% | 5.64% |
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
FSRBX and SFPAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSRBX has higher volatility (5.39%) compared to SFPAX (0.00%). In terms of maximum drawdown, FSRBX dropped -76.89% vs SFPAX's -71.98%.
FSRBX currently has the higher Sharpe Ratio (0.81 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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