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 11.25%/yr vs 9.07%/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 11.25%, while SFPAX has yielded a comparatively lower 9.07% annualized return.
ICFSX
- 1D
- 0.22%
- 1M
- -0.22%
- YTD
- -3.46%
- 6M
- -4.69%
- 1Y
- 4.66%
- 3Y*
- 15.29%
- 5Y*
- 9.15%
- 10Y*
- 11.25%
SFPAX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 4.16%
- 3Y*
- 15.05%
- 5Y*
- 6.91%
- 10Y*
- 9.07%
ICFSX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICFSX ICON Consumer Select Fund | -3.46% | 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 0.51, 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 | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
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 0.51 - 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 | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.18 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.42 | 1.33 | -0.91 |
| Martin ratioReturn relative to average drawdown | 1.10 | 2.72 | -1.62 |
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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 | -6.60% | -2.65% | -3.95% |
Average DrawdownAverage peak-to-trough decline | -21.33% | -20.93% | -0.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 2.34% | +2.50% |
Volatility
ICFSX vs. SFPAX - Volatility Comparison
ICON Consumer Select Fund (ICFSX) has a higher volatility of 3.47% 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 | 3.47% | 0.00% | +3.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 3.50% | +7.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.09% | 9.55% | +4.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.42% | 18.80% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.75% | 22.62% | +1.13% |
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 11.65%, 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 | 11.65% | 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 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICFSX has higher volatility (3.47%) compared to SFPAX (0.00%). In terms of maximum drawdown, ICFSX dropped -77.40% vs SFPAX's -71.98%.
SFPAX currently has the higher Sharpe Ratio (0.68 vs 0.38), 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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