LOGSX vs. SHPAX
LOGSX (Live Oak Health Sciences Fund) and SHPAX (Saratoga Health & Biotechnology Fund) are both Health & Biotech Equities funds. Over the past 10 years, LOGSX returned 7.08%/yr vs 6.73%/yr for SHPAX. With a 0.95 correlation, they move nearly in lockstep. LOGSX charges 1.02%/yr vs 2.90%/yr for SHPAX.
Performance
LOGSX vs. SHPAX - Performance Comparison
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Returns By Period
In the year-to-date period, LOGSX achieves a 0.81% return, which is significantly higher than SHPAX's 0.05% return. Both investments have delivered pretty close results over the past 10 years, with LOGSX having a 7.08% annualized return and SHPAX not far behind at 6.73%.
LOGSX
- 1D
- 0.81%
- 1M
- -0.63%
- YTD
- 0.81%
- 6M
- -0.39%
- 1Y
- 17.95%
- 3Y*
- 8.66%
- 5Y*
- 5.93%
- 10Y*
- 7.08%
SHPAX
- 1D
- 0.76%
- 1M
- -0.84%
- YTD
- 0.05%
- 6M
- -1.21%
- 1Y
- 16.81%
- 3Y*
- 7.07%
- 5Y*
- 4.68%
- 10Y*
- 6.73%
LOGSX vs. SHPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LOGSX Live Oak Health Sciences Fund | 0.81% | 19.63% | 0.16% | 1.21% | 3.71% | 17.59% | 6.01% | 18.98% | -3.84% | 13.42% |
SHPAX Saratoga Health & Biotechnology Fund | 0.05% | 17.43% | 0.26% | -0.36% | 1.93% | 16.71% | 3.52% | 27.67% | -5.30% | 11.78% |
Correlation
The correlation between LOGSX and SHPAX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2001 | 0.95 |
The correlation between LOGSX and SHPAX has been stable across timeframes, ranging from 0.95 to 1.00 - a consistent structural relationship.
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Return for Risk
LOGSX vs. SHPAX — Risk / Return Rank
LOGSX
SHPAX
LOGSX vs. SHPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Live Oak Health Sciences Fund (LOGSX) and Saratoga Health & Biotechnology Fund (SHPAX). 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.
| LOGSX | SHPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.20 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 1.82 | +0.41 |
| Martin ratioReturn relative to average drawdown | 5.46 | 4.51 | +0.95 |
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Drawdowns
LOGSX vs. SHPAX - Drawdown Comparison
The maximum LOGSX drawdown since its inception was -45.85%, smaller than the maximum SHPAX drawdown of -69.50%. Use the drawdown chart below to compare losses from any high point for LOGSX and SHPAX.
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Drawdown Indicators
| LOGSX | SHPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.85% | -69.50% | +23.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.13% | -9.33% | +1.20% |
Max Drawdown (3Y)Largest decline over 3 years | -14.33% | -16.32% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -15.03% | -16.32% | +1.29% |
Max Drawdown (10Y)Largest decline over 10 years | -27.28% | -28.05% | +0.77% |
Current DrawdownCurrent decline from peak | -4.47% | -5.88% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -7.60% | -27.88% | +20.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 3.75% | -0.44% |
Volatility
LOGSX vs. SHPAX - Volatility Comparison
Live Oak Health Sciences Fund (LOGSX) and Saratoga Health & Biotechnology Fund (SHPAX) have volatilities of 5.20% and 5.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LOGSX | SHPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 5.14% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 10.42% | 10.44% | -0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 14.64% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.26% | 14.34% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.17% | 16.62% | -0.45% |
LOGSX vs. SHPAX - Expense Ratio Comparison
LOGSX has a 1.02% expense ratio, which is lower than SHPAX's 2.90% expense ratio.
Dividends
LOGSX vs. SHPAX - Dividend Comparison
LOGSX's dividend yield for the trailing twelve months is around 2.06%, less than SHPAX's 3.66% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LOGSX Live Oak Health Sciences Fund | 2.06% | 2.07% | 2.64% | 6.28% | 0.55% | 7.02% | 7.04% | 0.85% | 15.20% | 6.45% | 2.10% | 15.52% |
SHPAX Saratoga Health & Biotechnology Fund | 3.66% | 3.66% | 1.35% | 5.38% | 6.34% | 3.76% | 13.82% | 13.24% | 22.00% | 17.98% | 12.52% | 10.70% |
Frequently Asked Questions
With a correlation of 1.00, LOGSX and SHPAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
LOGSX has higher volatility (5.20%) compared to SHPAX (5.14%). In terms of maximum drawdown, LOGSX dropped -45.85% vs SHPAX's -69.50%.
LOGSX currently has the higher Sharpe Ratio (1.24 vs 1.16), 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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