OSTGX vs. SSCPX

Last updated Aug 1, 2026

OSTGX (Osterweis Emerging Opportunity Fund) and SSCPX (Saratoga Small Capitalization Portfolio) are both Small Cap Growth Equities funds. Over the past 5 years, OSTGX returned -0.60%/yr vs 7.73%/yr for SSCPX. Their correlation of 0.82 means they have usually moved in the same direction. OSTGX charges 1.17%/yr vs 1.70%/yr for SSCPX.

Performance

OSTGX vs. SSCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Osterweis Emerging Opportunity Fund (OSTGX) and Saratoga Small Capitalization Portfolio (SSCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OSTGX having a 20.19% return and SSCPX slightly lower at 19.27%.

OSTGX

• 1D: 2.00%
• 1M: -6.52%
• 6M: 16.48%
• YTD: 20.19%
• 1Y: 29.58%
• 3Y*: 14.70%
• 5Y*: -0.60%
• 10Y*: —
• ALL TIME*: 13.52%

SSCPX

• 1D: 2.12%
• 1M: -4.89%
• 6M: 12.53%
• YTD: 19.27%
• 1Y: 29.88%
• 3Y*: 13.45%
• 5Y*: 7.73%
• 10Y*: 10.68%
• ALL TIME*: 8.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
OSTGX Osterweis Emerging Opportunity Fund	$0.00	$0.00	$0.00
SSCPX Saratoga Small Capitalization Portfolio	$0.00	$0.00	$0.00

OSTGX vs. SSCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OSTGX Osterweis Emerging Opportunity Fund	20.19%	0.26%	22.49%	23.98%	-33.00%	-14.83%	83.54%	36.97%	1.33%	26.75%
SSCPX Saratoga Small Capitalization Portfolio	19.27%	6.41%	10.79%	15.16%	-17.56%	24.53%	25.39%	23.71%	-16.14%	15.58%

Correlation

The correlation between OSTGX and SSCPX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Nov 30, 2016	0.82

The correlation between OSTGX and SSCPX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

Return for Risk

OSTGX vs. SSCPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

OSTGX

OSTGX Risk / Return Rank: 44
OSTGX Sharpe Ratio Rank: 39
OSTGX Sortino Ratio Rank: 42
OSTGX Omega Ratio Rank: 37
OSTGX Calmar Ratio Rank: 53
OSTGX Martin Ratio Rank: 47

SSCPX

SSCPX Risk / Return Rank: 46
SSCPX Sharpe Ratio Rank: 40
SSCPX Sortino Ratio Rank: 42
SSCPX Omega Ratio Rank: 36
SSCPX Calmar Ratio Rank: 66
SSCPX Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

OSTGX vs. SSCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Osterweis Emerging Opportunity Fund (OSTGX) and Saratoga Small Capitalization Portfolio (SSCPX). 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.

	OSTGX	SSCPX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.22	-0.03
Sortino ratio: Return per unit of downside risk	1.81	1.82	-0.01
Omega ratio: Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio: Return relative to maximum drawdown	1.94	2.22	-0.28
Martin ratio: Return relative to average drawdown	6.69	6.80	-0.11

OSTGX vs. SSCPX - Sharpe Ratio Comparison

The current OSTGX Sharpe Ratio is 1.19, which is comparable to the SSCPX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of OSTGX and SSCPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

OSTGX vs. SSCPX - Drawdown Comparison

The maximum OSTGX drawdown since its inception was -53.93%, roughly equal to the maximum SSCPX drawdown of -53.65%. Use the drawdown chart below to compare losses from any high point for OSTGX and SSCPX.

Drawdown Indicators

	OSTGX	SSCPX	Difference
Max Drawdown Largest peak-to-trough decline	-53.93%	-53.65%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-13.61%	-11.54%	-2.07%
Max Drawdown (3Y) Largest decline over 3 years	-31.06%	-27.78%	-3.28%
Max Drawdown (5Y) Largest decline over 5 years	-53.93%	-27.78%	-26.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.59%	—
Current Drawdown Current decline from peak	-9.29%	-8.10%	-1.19%
Average Drawdown Average peak-to-trough decline	-19.54%	-10.21%	-9.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	3.77%	+0.17%

Volatility

OSTGX vs. SSCPX - Volatility Comparison

The current volatility for Osterweis Emerging Opportunity Fund (OSTGX) is 5.67%, while Saratoga Small Capitalization Portfolio (SSCPX) has a volatility of 6.18%. This indicates that OSTGX experiences smaller price fluctuations and is considered to be less risky than SSCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OSTGX	SSCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	6.18%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	17.84%	16.05%	+1.79%
Volatility (1Y) Calculated over the trailing 1-year period	22.24%	20.91%	+1.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.89%	22.24%	+2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.11%	23.05%	+2.06%

OSTGX vs. SSCPX - Expense Ratio Comparison

OSTGX has a 1.17% expense ratio, which is lower than SSCPX's 1.70% expense ratio.

Dividends

OSTGX vs. SSCPX - Dividend Comparison

OSTGX's dividend yield for the trailing twelve months is around 1.92%, less than SSCPX's 7.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OSTGX Osterweis Emerging Opportunity Fund	1.92%	2.31%	0.84%	0.00%	0.00%	0.10%	10.54%	12.79%	8.06%	18.91%	0.00%	0.00%
SSCPX Saratoga Small Capitalization Portfolio	7.56%	9.02%	11.37%	0.00%	10.18%	24.67%	0.02%	0.00%	17.42%	0.00%	0.00%	58.90%

Frequently Asked Questions

Can I hold both OSTGX and SSCPX in my portfolio?

OSTGX and SSCPX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OSTGX or SSCPX?

SSCPX has higher volatility (6.18%) compared to OSTGX (5.67%). In terms of maximum drawdown, OSTGX dropped -53.93% vs SSCPX's -53.65%.

Which has better risk-adjusted returns?

SSCPX currently has the higher Sharpe Ratio (1.22 vs 1.19), 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.