SFPAX vs. FFANX
SFPAX (Saratoga Financial Service Fund) and FFANX (Fidelity Asset Manager 40% Fund) are both mutual funds - SFPAX is a Financials Equities fund managed by BlackRock, while FFANX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, SFPAX returned 9.04%/yr vs 6.54%/yr for FFANX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. SFPAX charges 3.81%/yr vs 0.53%/yr for FFANX.
Performance
SFPAX vs. FFANX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has outperformed FFANX with an annualized return of 9.04%, while FFANX has yielded a comparatively lower 6.54% 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%
FFANX
- 1D
- 1.02%
- 1M
- -0.62%
- 6M
- 4.35%
- YTD
- 6.42%
- 1Y
- 13.25%
- 3Y*
- 10.10%
- 5Y*
- 4.88%
- 10Y*
- 6.54%
- ALL TIME*
- 5.47%
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. FFANX - 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% |
FFANX Fidelity Asset Manager 40% Fund | 6.42% | 13.16% | 7.40% | 11.52% | -13.62% | 8.03% | 13.10% | 15.81% | -4.06% | 11.25% |
Correlation
The correlation between SFPAX and FFANX is 0.22, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.22 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.59 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.70 |
Over the past year, the correlation between SFPAX and FFANX has dropped to 0.22 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. FFANX — Risk / Return Rank
SFPAX
FFANX
SFPAX vs. FFANX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and Fidelity Asset Manager 40% Fund (FFANX). 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 | FFANX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.33 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.46 | -2.67 |
| Martin ratioReturn relative to average drawdown | -0.42 | 10.21 | -10.63 |
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Drawdowns
SFPAX vs. FFANX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, which is greater than FFANX's maximum drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for SFPAX and FFANX.
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Drawdown Indicators
| SFPAX | FFANX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -31.69% | -40.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -5.20% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -7.55% | -10.37% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -18.52% | -8.99% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -18.52% | -27.12% |
Current DrawdownCurrent decline from peak | -2.65% | -1.15% | -1.50% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -3.77% | -17.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 1.25% | +1.07% |
Volatility
SFPAX vs. FFANX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while Fidelity Asset Manager 40% Fund (FFANX) has a volatility of 2.13%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than FFANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | FFANX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 2.13% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 6.28% | -4.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 7.34% | +1.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 7.99% | +10.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 7.73% | +14.78% |
SFPAX vs. FFANX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than FFANX's 0.53% expense ratio.
Dividends
SFPAX vs. FFANX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while FFANX's dividend yield for the trailing twelve months is around 3.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFANX Fidelity Asset Manager 40% Fund | 3.66% | 3.97% | 2.81% | 2.49% | 5.75% | 2.35% | 2.36% | 3.67% | 4.56% | 2.56% | 1.43% | 3.18% |
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% | 0.00% |
Frequently Asked Questions
SFPAX and FFANX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFANX has higher volatility (2.13%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs FFANX's -31.69%.
FFANX currently has the higher Sharpe Ratio (1.75 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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