SFPAX vs. ECAT
SFPAX (Saratoga Financial Service Fund) and ECAT (BlackRock ESG Capital Allocation Term Trust) are both mutual funds - SFPAX is a Financials Equities fund managed by BlackRock, while ECAT is a Tactical Allocation fund managed by BlackRock. Over the past 3 years, SFPAX returned 15.10%/yr vs 19.50%/yr for ECAT. A 0.51 correlation means they provide meaningful diversification when combined. SFPAX charges 3.81%/yr vs 1.43%/yr for ECAT.
Performance
SFPAX vs. ECAT - Performance Comparison
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Returns By Period
SFPAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 0.82%
- 3Y*
- 15.10%
- 5Y*
- 6.22%
- 10Y*
- 9.04%
ECAT
- 1D
- 0.19%
- 1M
- 4.02%
- 6M
- 11.20%
- YTD
- 15.10%
- 1Y
- 20.06%
- 3Y*
- 19.50%
- 5Y*
- —
- 10Y*
- —
SFPAX vs. ECAT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SFPAX Saratoga Financial Service Fund | 0.00% | 7.00% | 26.05% | 10.58% | -14.36% | -0.27% |
ECAT BlackRock ESG Capital Allocation Term Trust | 15.10% | 16.64% | 19.96% | 32.36% | -21.90% | -6.25% |
Correlation
The correlation between SFPAX and ECAT is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2021 | 0.51 |
Over the past year, the correlation between SFPAX and ECAT has dropped to 0.23 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. ECAT — Risk / Return Rank
SFPAX
ECAT
SFPAX vs. ECAT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and BlackRock ESG Capital Allocation Term Trust (ECAT). 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 | ECAT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.26 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 1.71 | -1.92 |
| Martin ratioReturn relative to average drawdown | -0.42 | 6.34 | -6.76 |
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Drawdowns
SFPAX vs. ECAT - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, which is greater than ECAT's maximum drawdown of -32.23%. Use the drawdown chart below to compare losses from any high point for SFPAX and ECAT.
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Drawdown Indicators
| SFPAX | ECAT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -32.23% | -39.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -11.80% | +6.94% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -15.79% | -2.13% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | — | — |
Current DrawdownCurrent decline from peak | -2.65% | 0.00% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -8.93% | -11.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 3.17% | -0.85% |
Volatility
SFPAX vs. ECAT - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while BlackRock ESG Capital Allocation Term Trust (ECAT) has a volatility of 3.89%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than ECAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | ECAT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.89% | -3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 10.96% | -9.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 13.90% | -4.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 16.84% | +1.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 16.84% | +5.67% |
SFPAX vs. ECAT - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than ECAT's 1.43% expense ratio.
Dividends
SFPAX vs. ECAT - Dividend Comparison
SFPAX has not paid dividends to shareholders, while ECAT's dividend yield for the trailing twelve months is around 21.21%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ECAT BlackRock ESG Capital Allocation Term Trust | 21.21% | 23.00% | 17.44% | 9.14% | 8.94% | 0.54% | 0.00% | 0.00% | 0.00% |
SFPAX Saratoga Financial Service Fund | 0.00% | 0.00% | 5.91% | 5.05% | 5.71% | 5.03% | 4.18% | 7.10% | 22.58% |
Frequently Asked Questions
SFPAX and ECAT have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ECAT has higher volatility (3.89%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs ECAT's -32.23%.
ECAT currently has the higher Sharpe Ratio (1.45 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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