SFPAX vs. BGSAX
SFPAX (Saratoga Financial Service Fund) and BGSAX (BlackRock Technology Opportunities Fund Investor A) are both mutual funds - SFPAX is a Financials Equities fund managed by BlackRock, while BGSAX is a Technology Equities fund actively managed by BlackRock. Over the past 10 years, SFPAX returned 9.04%/yr vs 23.00%/yr for BGSAX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. SFPAX charges 3.81%/yr vs 1.14%/yr for BGSAX.
Performance
SFPAX vs. BGSAX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed BGSAX with an annualized return of 9.04%, while BGSAX has yielded a comparatively higher 23.00% annualized return.
SFPAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 2.51%
- 3Y*
- 15.10%
- 5Y*
- 6.22%
- 10Y*
- 9.04%
- ALL TIME*
- 3.28%
BGSAX
- 1D
- 7.10%
- 1M
- -7.32%
- 6M
- 19.39%
- YTD
- 22.08%
- 1Y
- 32.24%
- 3Y*
- 29.84%
- 5Y*
- 11.65%
- 10Y*
- 23.00%
- ALL TIME*
- 10.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SFPAX vs. BGSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SFPAX Saratoga Financial Service Fund | 0.00% | 7.00% | 26.05% | 10.58% | -14.36% | 31.17% | -5.81% | 29.63% | -19.23% | 19.28% |
BGSAX BlackRock Technology Opportunities Fund Investor A | 22.08% | 19.63% | 40.56% | 49.09% | -43.13% | 8.19% | 86.27% | 43.84% | 2.03% | 49.45% |
Correlation
The correlation between SFPAX and BGSAX is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.62 |
Over the past year, the correlation between SFPAX and BGSAX has dropped to 0.10 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. BGSAX — Risk / Return Rank
SFPAX
BGSAX
SFPAX vs. BGSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and BlackRock Technology Opportunities Fund Investor A (BGSAX). 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.
| SFPAX | BGSAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.46 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.18 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 1.42 | -1.63 |
| Martin ratioReturn relative to average drawdown | -0.42 | 4.11 | -4.53 |
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Drawdowns
SFPAX vs. BGSAX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, roughly equal to the maximum BGSAX drawdown of -73.75%. Use the drawdown chart below to compare losses from any high point for SFPAX and BGSAX.
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Drawdown Indicators
| SFPAX | BGSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -73.75% | +1.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -20.84% | +15.98% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -27.75% | +9.83% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -49.22% | +21.71% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -49.22% | +3.58% |
Current DrawdownCurrent decline from peak | -2.65% | -15.21% | +12.56% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -26.26% | +5.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 7.19% | -4.87% |
Volatility
SFPAX vs. BGSAX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while BlackRock Technology Opportunities Fund Investor A (BGSAX) has a volatility of 14.54%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than BGSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | BGSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 14.54% | -14.54% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 28.48% | -26.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 32.23% | -23.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 29.22% | -10.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 26.62% | -4.11% |
SFPAX vs. BGSAX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than BGSAX's 1.14% expense ratio.
Dividends
SFPAX vs. BGSAX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while BGSAX's dividend yield for the trailing twelve months is around 17.42%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BGSAX BlackRock Technology Opportunities Fund Investor A | 17.42% | 13.55% | 8.68% | 0.00% | 0.00% | 7.66% | 4.86% | 1.50% | 1.24% | 8.01% | 1.17% |
SFPAX Saratoga Financial Service Fund | 0.00% | 0.00% | 5.91% | 5.05% | 5.71% | 5.03% | 4.18% | 7.10% | 22.58% | 0.00% | 0.00% |
Frequently Asked Questions
SFPAX and BGSAX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BGSAX has higher volatility (14.54%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs BGSAX's -73.75%.
BGSAX currently has the higher Sharpe Ratio (0.92 vs -0.11), 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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