SFPAX vs. ECAT

Last updated Apr 1, 2026

Compare and contrast key facts about Saratoga Financial Service Fund (SFPAX) and BlackRock ESG Capital Allocation Term Trust (ECAT).

SFPAX is managed by BlackRock. It was launched on Aug 1, 2000. ECAT is managed by BlackRock. It was launched on Sep 28, 2021.

Performance

SFPAX vs. ECAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Financial Service Fund (SFPAX) and BlackRock ESG Capital Allocation Term Trust (ECAT). The values are adjusted to include any dividend payments, if applicable.

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%	1.25%
ECAT BlackRock ESG Capital Allocation Term Trust	-6.71%	16.64%	19.96%	32.36%	-21.90%	-6.25%

Returns By Period

SFPAX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: -1.78%
• 1Y: 7.00%
• 3Y*: 16.47%
• 5Y*: 7.56%
• 10Y*: 9.11%

ECAT

• 1D: 1.49%
• 1M: -8.56%
• YTD: -6.71%
• 6M: -7.80%
• 1Y: 7.03%
• 3Y*: 13.21%
• 5Y*: —
• 10Y*: —

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

SFPAX vs. ECAT - Expense Ratio Comparison

SFPAX has a 3.81% expense ratio, which is higher than ECAT's 1.38% expense ratio.

SFPAX

Saratoga Financial Service Fund

ECAT

BlackRock ESG Capital Allocation Term Trust

Return for Risk

SFPAX vs. ECAT — Risk / Return Rank

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

SFPAX

SFPAX Risk / Return Rank: 20
SFPAX Sharpe Ratio Rank: 18
SFPAX Sortino Ratio Rank: 17
SFPAX Omega Ratio Rank: 26
SFPAX Calmar Ratio Rank: 18
SFPAX Martin Ratio Rank: 22

ECAT

ECAT Risk / Return Rank: 16
ECAT Sharpe Ratio Rank: 17
ECAT Sortino Ratio Rank: 16
ECAT Omega Ratio Rank: 16
ECAT Calmar Ratio Rank: 16
ECAT Martin Ratio Rank: 17

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.

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.

	SFPAX	ECAT	Difference
Sharpe ratio Return per unit of total volatility	0.49	0.42	+0.07
Sortino ratio Return per unit of downside risk	0.76	0.68	+0.08
Omega ratio Gain probability vs. loss probability	1.14	1.09	+0.05
Calmar ratio Return relative to maximum drawdown	0.55	0.47	+0.08
Martin ratio Return relative to average drawdown	2.39	1.75	+0.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SFPAX vs. ECAT - Sharpe Ratio Comparison

The current SFPAX Sharpe Ratio is 0.49, which is comparable to the ECAT Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of SFPAX and ECAT, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SFPAX	ECAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	0.42	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.32	-0.18

Correlation

The correlation between SFPAX and ECAT is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

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 25.39%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
SFPAX Saratoga Financial Service Fund	0.00%	0.00%	5.91%	5.05%	5.71%	5.03%	4.18%	7.10%	22.58%
ECAT BlackRock ESG Capital Allocation Term Trust	25.39%	23.00%	17.44%	9.14%	8.94%	0.54%	0.00%	0.00%	0.00%

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.

Drawdown Indicators

	SFPAX	ECAT	Difference
Max Drawdown Largest peak-to-trough decline	-71.98%	-32.23%	-39.75%
Max Drawdown (1Y) Largest decline over 1 year	-13.17%	-12.90%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-27.51%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.64%	—	—
Current Drawdown Current decline from peak	-2.65%	-10.48%	+7.83%
Average Drawdown Average peak-to-trough decline	-21.06%	-9.41%	-11.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	3.49%	-0.34%

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 5.97%. 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.

Volatility by Period

	SFPAX	ECAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	5.97%	-5.97%
Volatility (6M) Calculated over the trailing 6-month period	6.73%	10.34%	-3.61%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	16.97%	+0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.06%	16.95%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.67%	16.95%	+5.72%