GAFSX vs. SFPAX
GAFSX (Gabelli Global Financial Services Fund Class AAA) and SFPAX (Saratoga Financial Service Fund) are both Financials Equities funds. Over the past 5 years, GAFSX returned 17.88%/yr vs 6.22%/yr for SFPAX. Their correlation of 0.81 suggests significant overlap in exposure. GAFSX charges 1.25%/yr vs 3.81%/yr for SFPAX.
Performance
GAFSX vs. SFPAX - Performance Comparison
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Returns By Period
GAFSX
- 1D
- 0.52%
- 1M
- 1.73%
- 6M
- 6.73%
- YTD
- 8.85%
- 1Y
- 26.90%
- 3Y*
- 27.70%
- 5Y*
- 17.88%
- 10Y*
- —
SFPAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 2.04%
- 3Y*
- 15.10%
- 5Y*
- 6.22%
- 10Y*
- 9.04%
GAFSX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
GAFSX Gabelli Global Financial Services Fund Class AAA | 8.85% | 36.22% | 27.78% | 25.43% | -11.28% | 28.74% | -1.51% | 8.88% | 0.34% |
SFPAX Saratoga Financial Service Fund | 0.00% | 7.00% | 26.05% | 10.58% | -14.36% | 31.17% | -5.81% | 29.63% | -16.25% |
Correlation
The correlation between GAFSX and SFPAX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018 | 0.81 |
Over the past year, the correlation between GAFSX and SFPAX has dropped to 0.39 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
GAFSX vs. SFPAX — Risk / Return Rank
GAFSX
SFPAX
GAFSX vs. SFPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Gabelli Global Financial Services Fund Class AAA (GAFSX) 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.
| GAFSX | SFPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.07 | ||
| Sortino ratioReturn per unit of downside risk | +2.99 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.98 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 2.62 | -0.21 | +2.83 |
| Martin ratioReturn relative to average drawdown | 8.49 | -0.42 | +8.91 |
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Drawdowns
GAFSX vs. SFPAX - Drawdown Comparison
The maximum GAFSX drawdown since its inception was -46.40%, smaller than the maximum SFPAX drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for GAFSX and SFPAX.
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Drawdown Indicators
| GAFSX | SFPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.40% | -71.98% | +25.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.47% | -4.86% | -4.61% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | -17.92% | +3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -28.21% | -27.51% | -0.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -45.64% | — |
Current DrawdownCurrent decline from peak | -0.09% | -2.65% | +2.56% |
Average DrawdownAverage peak-to-trough decline | -7.58% | -20.91% | +13.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 2.32% | +0.60% |
Volatility
GAFSX vs. SFPAX - Volatility Comparison
Gabelli Global Financial Services Fund Class AAA (GAFSX) has a higher volatility of 3.02% compared to Saratoga Financial Service Fund (SFPAX) at 0.00%. This indicates that GAFSX'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
| GAFSX | SFPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 0.00% | +3.02% |
Volatility (6M)Calculated over the trailing 6-month period | 9.59% | 1.96% | +7.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.65% | 9.20% | +3.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.29% | 18.73% | -1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.71% | 22.51% | -0.80% |
GAFSX vs. SFPAX - Expense Ratio Comparison
GAFSX has a 1.25% expense ratio, which is lower than SFPAX's 3.81% expense ratio.
Dividends
GAFSX vs. SFPAX - Dividend Comparison
GAFSX's dividend yield for the trailing twelve months is around 1.57%, while SFPAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GAFSX Gabelli Global Financial Services Fund Class AAA | 1.57% | 1.71% | 2.22% | 2.45% | 2.66% | 1.94% | 1.35% | 2.26% | 0.34% |
SFPAX Saratoga Financial Service Fund | 0.00% | 0.00% | 5.91% | 5.05% | 5.71% | 5.03% | 4.18% | 7.10% | 22.58% |
Frequently Asked Questions
GAFSX and SFPAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GAFSX has higher volatility (3.02%) compared to SFPAX (0.00%). In terms of maximum drawdown, GAFSX dropped -46.40% vs SFPAX's -71.98%.
GAFSX currently has the higher Sharpe Ratio (1.96 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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