SBFAX vs. FIDAX

Last updated Jun 4, 2026

SBFAX (1919 Financial Services Fund) and FIDAX (John Hancock Financial Industries Fund) are both Financials Equities funds from BlackRock. Over the past 10 years, SBFAX returned 8.14%/yr vs 9.79%/yr for FIDAX. Their correlation of 0.92 suggests significant overlap in exposure. SBFAX charges 1.36%/yr vs 1.24%/yr for FIDAX.

Performance

SBFAX vs. FIDAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1919 Financial Services Fund (SBFAX) and John Hancock Financial Industries Fund (FIDAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBFAX achieves a -5.71% return, which is significantly lower than FIDAX's -2.42% return. Over the past 10 years, SBFAX has underperformed FIDAX with an annualized return of 8.14%, while FIDAX has yielded a comparatively higher 9.79% annualized return.

SBFAX

• 1D: 0.44%
• 1M: -1.73%
• YTD: -5.71%
• 6M: -3.47%
• 1Y: -2.84%
• 3Y*: 12.93%
• 5Y*: 1.90%
• 10Y*: 8.14%

FIDAX

• 1D: 0.15%
• 1M: -0.60%
• YTD: -2.42%
• 6M: 1.94%
• 1Y: 5.37%
• 3Y*: 17.93%
• 5Y*: 6.06%
• 10Y*: 9.79%

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

SBFAX vs. FIDAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBFAX 1919 Financial Services Fund	-5.71%	4.29%	24.86%	1.50%	-13.99%	30.74%	0.14%	29.11%	-14.94%	14.65%
FIDAX John Hancock Financial Industries Fund	-2.42%	12.05%	30.09%	5.01%	-14.17%	28.80%	1.58%	31.21%	-15.30%	11.00%

Correlation

The correlation between SBFAX and FIDAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 5, 1999	0.92

The correlation between SBFAX and FIDAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

SBFAX vs. FIDAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SBFAX

SBFAX Risk / Return Rank: 2
SBFAX Sharpe Ratio Rank: 2
SBFAX Sortino Ratio Rank: 2
SBFAX Omega Ratio Rank: 2
SBFAX Calmar Ratio Rank: 2
SBFAX Martin Ratio Rank: 2

FIDAX

FIDAX Risk / Return Rank: 5
FIDAX Sharpe Ratio Rank: 5
FIDAX Sortino Ratio Rank: 5
FIDAX Omega Ratio Rank: 5
FIDAX Calmar Ratio Rank: 5
FIDAX Martin Ratio Rank: 5

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SBFAX vs. FIDAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1919 Financial Services Fund (SBFAX) and John Hancock Financial Industries Fund (FIDAX). 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.

	SBFAX	FIDAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	0.35	-0.52
Sortino ratio: Return per unit of downside risk	-0.14	0.58	-0.72
Omega ratio: Gain probability vs. loss probability	0.98	1.07	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.22	0.41	-0.63
Martin ratio: Return relative to average drawdown	-0.51	1.14	-1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBFAX vs. FIDAX - Sharpe Ratio Comparison

The current SBFAX Sharpe Ratio is -0.17, which is lower than the FIDAX Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of SBFAX and FIDAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SBFAX	FIDAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	0.35	-0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.10	0.29	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.45	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.31	+0.09

Drawdowns

SBFAX vs. FIDAX - Drawdown Comparison

The maximum SBFAX drawdown since its inception was -49.33%, smaller than the maximum FIDAX drawdown of -70.42%. Use the drawdown chart below to compare losses from any high point for SBFAX and FIDAX.

Drawdown Indicators

	SBFAX	FIDAX	Difference
Max Drawdown Largest peak-to-trough decline	-49.33%	-70.42%	+21.09%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-13.82%	+2.79%
Max Drawdown (3Y) Largest decline over 3 years	-16.41%	-19.35%	+2.94%
Max Drawdown (5Y) Largest decline over 5 years	-33.94%	-30.89%	-3.05%
Max Drawdown (10Y) Largest decline over 10 years	-43.58%	-42.09%	-1.49%
Current Drawdown Current decline from peak	-8.57%	-5.74%	-2.83%
Average Drawdown Average peak-to-trough decline	-9.52%	-14.07%	+4.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.72%	4.90%	-0.18%

Volatility

SBFAX vs. FIDAX - Volatility Comparison

1919 Financial Services Fund (SBFAX) has a higher volatility of 3.48% compared to John Hancock Financial Industries Fund (FIDAX) at 3.31%. This indicates that SBFAX's price experiences larger fluctuations and is considered to be riskier than FIDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBFAX	FIDAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	3.31%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	10.10%	12.17%	-2.07%
Volatility (1Y) Calculated over the trailing 1-year period	14.18%	15.92%	-1.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	20.68%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.82%	21.98%	+0.84%

SBFAX vs. FIDAX - Expense Ratio Comparison

SBFAX has a 1.36% expense ratio, which is higher than FIDAX's 1.24% expense ratio.

Dividends

SBFAX vs. FIDAX - Dividend Comparison

SBFAX's dividend yield for the trailing twelve months is around 15.39%, less than FIDAX's 49.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIDAX John Hancock Financial Industries Fund	49.38%	48.19%	10.24%	1.91%	11.22%	23.08%	5.41%	7.56%	7.72%	6.10%	6.01%	0.93%
SBFAX 1919 Financial Services Fund	15.39%	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

Can I hold both SBFAX and FIDAX in my portfolio?

With a correlation of 0.92, SBFAX and FIDAX 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.

Which is riskier, SBFAX or FIDAX?

SBFAX has higher volatility (3.48%) compared to FIDAX (3.31%). In terms of maximum drawdown, SBFAX dropped -49.33% vs FIDAX's -70.42%.

Which has better risk-adjusted returns?

FIDAX currently has the higher Sharpe Ratio (0.35 vs -0.17), 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.