ICFSX vs. SFPAX
ICFSX (ICON Consumer Select Fund) and SFPAX (Saratoga Financial Service Fund) are both Financials Equities funds. Over the past 10 years, ICFSX returned 11.38%/yr vs 9.04%/yr for SFPAX. Their correlation of 0.91 suggests significant overlap in exposure. ICFSX charges 1.32%/yr vs 3.81%/yr for SFPAX.
Performance
ICFSX vs. SFPAX - Performance Comparison
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Returns By Period
Over the past 10 years, ICFSX has outperformed SFPAX with an annualized return of 11.38%, while SFPAX has yielded a comparatively lower 9.04% annualized return.
ICFSX
- 1D
- 0.64%
- 1M
- 4.42%
- 6M
- 2.05%
- YTD
- 2.27%
- 1Y
- 8.59%
- 3Y*
- 15.52%
- 5Y*
- 9.94%
- 10Y*
- 11.38%
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%
ICFSX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICFSX ICON Consumer Select Fund | 2.27% | 5.96% | 35.19% | 18.16% | -10.30% | 22.79% | -7.47% | 36.93% | -18.04% | 20.03% |
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 ICFSX and SFPAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.91 |
Over the past year, the correlation between ICFSX and SFPAX has dropped to 0.47 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.
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Return for Risk
ICFSX vs. SFPAX — Risk / Return Rank
ICFSX
SFPAX
ICFSX vs. SFPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ICON Consumer Select Fund (ICFSX) 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.
| ICFSX | SFPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.98 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.58 | -0.21 | +0.79 |
| Martin ratioReturn relative to average drawdown | 1.51 | -0.42 | +1.93 |
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Drawdowns
ICFSX vs. SFPAX - Drawdown Comparison
The maximum ICFSX drawdown since its inception was -77.40%, which is greater than SFPAX's maximum drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for ICFSX and SFPAX.
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Drawdown Indicators
| ICFSX | SFPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.40% | -71.98% | -5.42% |
Max Drawdown (1Y)Largest decline over 1 year | -12.67% | -4.86% | -7.81% |
Max Drawdown (3Y)Largest decline over 3 years | -20.61% | -17.92% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.27% | -27.51% | +4.24% |
Max Drawdown (10Y)Largest decline over 10 years | -48.50% | -45.64% | -2.86% |
Current DrawdownCurrent decline from peak | -1.05% | -2.65% | +1.60% |
Average DrawdownAverage peak-to-trough decline | -21.30% | -20.91% | -0.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.90% | 2.32% | +2.58% |
Volatility
ICFSX vs. SFPAX - Volatility Comparison
ICON Consumer Select Fund (ICFSX) has a higher volatility of 3.75% compared to Saratoga Financial Service Fund (SFPAX) at 0.00%. This indicates that ICFSX'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
| ICFSX | SFPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 0.00% | +3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 10.82% | 1.96% | +8.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.26% | 9.20% | +5.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.40% | 18.73% | +1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.60% | 22.51% | +1.09% |
ICFSX vs. SFPAX - Expense Ratio Comparison
ICFSX has a 1.32% expense ratio, which is lower than SFPAX's 3.81% expense ratio.
Dividends
ICFSX vs. SFPAX - Dividend Comparison
ICFSX's dividend yield for the trailing twelve months is around 11.00%, while SFPAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICFSX ICON Consumer Select Fund | 11.00% | 11.25% | 34.59% | 7.32% | 17.71% | 10.98% | 0.00% | 1.94% | 0.75% | 0.21% | 0.97% | 0.59% |
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
ICFSX and SFPAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICFSX has higher volatility (3.75%) compared to SFPAX (0.00%). In terms of maximum drawdown, ICFSX dropped -77.40% vs SFPAX's -71.98%.
ICFSX currently has the higher Sharpe Ratio (0.52 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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