SBFAX vs. VFAIX

Last updated Jun 25, 2026

SBFAX (1919 Financial Services Fund) and VFAIX (Vanguard Financials Index Fund Admiral Shares) are both Financials Equities funds. Over the past 10 years, SBFAX returned 9.38%/yr vs 13.57%/yr for VFAIX. Their correlation of 0.93 suggests significant overlap in exposure. SBFAX charges 1.36%/yr vs 0.09%/yr for VFAIX.

Performance

SBFAX vs. VFAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 1919 Financial Services Fund (SBFAX) and Vanguard Financials Index Fund Admiral Shares (VFAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBFAX achieves a -0.49% return, which is significantly lower than VFAIX's -0.28% return. Over the past 10 years, SBFAX has underperformed VFAIX with an annualized return of 9.38%, while VFAIX has yielded a comparatively higher 13.57% annualized return.

SBFAX

• 1D: 1.35%
• 1M: 3.71%
• YTD: -0.49%
• 6M: -2.16%
• 1Y: 1.36%
• 3Y*: 15.53%
• 5Y*: 3.78%
• 10Y*: 9.38%

VFAIX

• 1D: 0.42%
• 1M: 4.17%
• YTD: -0.28%
• 6M: -2.13%
• 1Y: 7.32%
• 3Y*: 20.99%
• 5Y*: 10.26%
• 10Y*: 13.57%

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

SBFAX vs. VFAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBFAX 1919 Financial Services Fund	-0.49%	4.29%	24.86%	1.50%	-13.99%	30.74%	0.14%	29.11%	-14.94%	14.65%
VFAIX Vanguard Financials Index Fund Admiral Shares	-0.28%	14.90%	30.46%	14.07%	-12.26%	36.27%	-2.15%	31.63%	-13.47%	20.05%

Correlation

The correlation between SBFAX and VFAIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
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 Feb 2, 2004	0.93

The correlation between SBFAX and VFAIX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

SBFAX vs. VFAIX — Risk / Return Rank

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

SBFAX

SBFAX Risk / Return Rank: 4
SBFAX Sharpe Ratio Rank: 4
SBFAX Sortino Ratio Rank: 4
SBFAX Omega Ratio Rank: 4
SBFAX Calmar Ratio Rank: 4
SBFAX Martin Ratio Rank: 4

VFAIX

VFAIX Risk / Return Rank: 7
VFAIX Sharpe Ratio Rank: 8
VFAIX Sortino Ratio Rank: 8
VFAIX Omega Ratio Rank: 8
VFAIX Calmar Ratio Rank: 7
VFAIX Martin Ratio Rank: 7

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. VFAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 1919 Financial Services Fund (SBFAX) and Vanguard Financials Index Fund Admiral Shares (VFAIX). 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	VFAIX	Difference
Sharpe ratio: Return per unit of total volatility	0.15	0.60	-0.45
Sortino ratio: Return per unit of downside risk	0.31	0.91	-0.60
Omega ratio: Gain probability vs. loss probability	1.04	1.11	-0.08
Calmar ratio: Return relative to maximum drawdown	0.20	0.61	-0.41
Martin ratio: Return relative to average drawdown	0.45	1.58	-1.13

SBFAX vs. VFAIX - Sharpe Ratio Comparison

The current SBFAX Sharpe Ratio is 0.15, which is lower than the VFAIX Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of SBFAX and VFAIX, 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

SBFAX vs. VFAIX - Drawdown Comparison

The maximum SBFAX drawdown since its inception was -49.33%, smaller than the maximum VFAIX drawdown of -78.64%. Use the drawdown chart below to compare losses from any high point for SBFAX and VFAIX.

Drawdown Indicators

	SBFAX	VFAIX	Difference
Max Drawdown Largest peak-to-trough decline	-49.33%	-78.64%	+29.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.03%	-14.72%	+3.69%
Max Drawdown (3Y) Largest decline over 3 years	-16.41%	-17.31%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-33.94%	-25.71%	-8.23%
Max Drawdown (10Y) Largest decline over 10 years	-43.58%	-44.37%	+0.79%
Current Drawdown Current decline from peak	-3.51%	-3.32%	-0.19%
Average Drawdown Average peak-to-trough decline	-9.51%	-18.57%	+9.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	5.66%	-0.80%

Volatility

SBFAX vs. VFAIX - Volatility Comparison

1919 Financial Services Fund (SBFAX) has a higher volatility of 4.60% compared to Vanguard Financials Index Fund Admiral Shares (VFAIX) at 4.21%. This indicates that SBFAX's price experiences larger fluctuations and is considered to be riskier than VFAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SBFAX	VFAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.21%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	10.61%	11.39%	-0.78%
Volatility (1Y) Calculated over the trailing 1-year period	14.55%	14.93%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	19.29%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.78%	22.57%	+0.21%

SBFAX vs. VFAIX - Expense Ratio Comparison

SBFAX has a 1.36% expense ratio, which is higher than VFAIX's 0.09% expense ratio.

Dividends

SBFAX vs. VFAIX - Dividend Comparison

SBFAX's dividend yield for the trailing twelve months is around 14.58%, more than VFAIX's 1.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SBFAX 1919 Financial Services Fund	14.58%	14.51%	10.60%	10.93%	2.40%	4.83%	5.09%	3.84%	1.58%	0.00%	2.93%	7.25%
VFAIX Vanguard Financials Index Fund Admiral Shares	1.47%	1.56%	1.75%	2.08%	2.31%	2.62%	2.21%	2.17%	2.30%	1.54%	1.64%	2.00%

Frequently Asked Questions

Can I hold both SBFAX and VFAIX in my portfolio?

With a correlation of 0.93, SBFAX and VFAIX 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 VFAIX?

SBFAX has higher volatility (4.60%) compared to VFAIX (4.21%). In terms of maximum drawdown, SBFAX dropped -49.33% vs VFAIX's -78.64%.

Which has better risk-adjusted returns?

VFAIX currently has the higher Sharpe Ratio (0.60 vs 0.15), 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.