SBFAX vs. BTO
SBFAX (1919 Financial Services Fund) and BTO (John Hancock Financial Opportunities Fund) are both Financials Equities funds. Over the past 10 years, SBFAX returned 8.86%/yr vs 11.84%/yr for BTO. A 0.74 correlation means they provide meaningful diversification when combined. SBFAX charges 1.36%/yr vs 2.01%/yr for BTO.
Performance
SBFAX vs. BTO - Performance Comparison
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Returns By Period
In the year-to-date period, SBFAX achieves a -2.27% return, which is significantly lower than BTO's 11.07% return. Over the past 10 years, SBFAX has underperformed BTO with an annualized return of 8.86%, while BTO has yielded a comparatively higher 11.84% annualized return.
SBFAX
- 1D
- -0.54%
- 1M
- 1.85%
- YTD
- -2.27%
- 6M
- -3.73%
- 1Y
- 2.24%
- 3Y*
- 13.48%
- 5Y*
- 4.20%
- 10Y*
- 8.86%
BTO
- 1D
- 1.10%
- 1M
- 4.44%
- YTD
- 11.07%
- 6M
- 8.02%
- 1Y
- 23.74%
- 3Y*
- 23.18%
- 5Y*
- 7.53%
- 10Y*
- 11.84%
SBFAX vs. BTO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SBFAX 1919 Financial Services Fund | -2.27% | 4.29% | 24.86% | 1.50% | -13.99% | 30.74% | 0.14% | 29.11% | -14.94% | 14.65% |
BTO John Hancock Financial Opportunities Fund | 11.07% | 5.85% | 28.92% | -1.16% | -23.58% | 61.86% | -8.97% | 38.87% | -25.68% | 13.12% |
Correlation
The correlation between SBFAX and BTO is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.74 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 1999 | 0.74 |
The correlation between SBFAX and BTO has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.
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Return for Risk
SBFAX vs. BTO — Risk / Return Rank
SBFAX
BTO
SBFAX vs. BTO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for 1919 Financial Services Fund (SBFAX) and John Hancock Financial Opportunities Fund (BTO). 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.
| SBFAX | BTO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.21 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.24 | 1.56 | -1.32 |
| Martin ratioReturn relative to average drawdown | 0.55 | 3.87 | -3.32 |
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Drawdowns
SBFAX vs. BTO - Drawdown Comparison
The maximum SBFAX drawdown since its inception was -49.33%, smaller than the maximum BTO drawdown of -72.27%. Use the drawdown chart below to compare losses from any high point for SBFAX and BTO.
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Drawdown Indicators
| SBFAX | BTO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.33% | -72.27% | +22.94% |
Max Drawdown (1Y)Largest decline over 1 year | -11.03% | -15.26% | +4.23% |
Max Drawdown (3Y)Largest decline over 3 years | -16.41% | -25.19% | +8.78% |
Max Drawdown (5Y)Largest decline over 5 years | -33.94% | -51.80% | +17.86% |
Max Drawdown (10Y)Largest decline over 10 years | -43.58% | -65.70% | +22.12% |
Current DrawdownCurrent decline from peak | -5.23% | -1.93% | -3.30% |
Average DrawdownAverage peak-to-trough decline | -9.51% | -18.98% | +9.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.85% | 6.14% | -1.29% |
Volatility
SBFAX vs. BTO - Volatility Comparison
The current volatility for 1919 Financial Services Fund (SBFAX) is 4.49%, while John Hancock Financial Opportunities Fund (BTO) has a volatility of 5.44%. This indicates that SBFAX experiences smaller price fluctuations and is considered to be less risky than BTO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SBFAX | BTO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.49% | 5.44% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 10.51% | 15.18% | -4.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.49% | 20.75% | -6.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 30.88% | -11.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.84% | 36.14% | -13.30% |
SBFAX vs. BTO - Expense Ratio Comparison
SBFAX has a 1.36% expense ratio, which is lower than BTO's 2.01% expense ratio.
Dividends
SBFAX vs. BTO - Dividend Comparison
SBFAX's dividend yield for the trailing twelve months is around 14.84%, more than BTO's 6.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BTO John Hancock Financial Opportunities Fund | 6.92% | 7.41% | 7.28% | 8.64% | 7.51% | 4.72% | 7.25% | 6.06% | 5.94% | 3.76% | 5.10% | 4.75% |
SBFAX 1919 Financial Services Fund | 14.84% | 14.51% | 10.60% | 10.93% | 2.40% | 4.83% | 5.09% | 3.84% | 1.58% | 0.00% | 2.93% | 7.25% |
Frequently Asked Questions
SBFAX and BTO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTO has higher volatility (5.44%) compared to SBFAX (4.49%). In terms of maximum drawdown, SBFAX dropped -49.33% vs BTO's -72.27%.
BTO currently has the higher Sharpe Ratio (1.15 vs 0.18), 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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