SFPAX vs. FIDAX
SFPAX (Saratoga Financial Service Fund) and FIDAX (John Hancock Financial Industries Fund) are both Financials Equities funds from BlackRock. Over the past 10 years, SFPAX returned 9.04%/yr vs 11.11%/yr for FIDAX. Their correlation of 0.95 suggests significant overlap in exposure. SFPAX charges 3.81%/yr vs 1.24%/yr for FIDAX.
Performance
SFPAX vs. FIDAX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed FIDAX with an annualized return of 9.04%, while FIDAX has yielded a comparatively higher 11.11% annualized return.
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%
FIDAX
- 1D
- 0.14%
- 1M
- 3.45%
- 6M
- 4.42%
- YTD
- 5.72%
- 1Y
- 12.24%
- 3Y*
- 20.22%
- 5Y*
- 8.56%
- 10Y*
- 11.11%
SFPAX vs. FIDAX - 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% |
FIDAX John Hancock Financial Industries Fund | 5.72% | 12.05% | 30.09% | 5.01% | -14.17% | 28.80% | 1.58% | 31.21% | -15.30% | 11.00% |
Correlation
The correlation between SFPAX and FIDAX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.95 |
Over the past year, the correlation between SFPAX and FIDAX has dropped to 0.51 - well below their long-term average of 0.95, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. FIDAX — Risk / Return Rank
SFPAX
FIDAX
SFPAX vs. FIDAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and John Hancock Financial Industries Fund (FIDAX). 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 | FIDAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -1.11 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.13 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 0.81 | -1.02 |
| Martin ratioReturn relative to average drawdown | -0.42 | 2.27 | -2.69 |
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Drawdowns
SFPAX vs. FIDAX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, roughly equal to the maximum FIDAX drawdown of -70.42%. Use the drawdown chart below to compare losses from any high point for SFPAX and FIDAX.
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Drawdown Indicators
| SFPAX | FIDAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -70.42% | -1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -13.82% | +8.96% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -19.35% | +1.43% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -30.89% | +3.38% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -42.09% | -3.55% |
Current DrawdownCurrent decline from peak | -2.65% | -0.35% | -2.30% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -14.03% | -6.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 4.91% | -2.59% |
Volatility
SFPAX vs. FIDAX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while John Hancock Financial Industries Fund (FIDAX) has a volatility of 3.90%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than FIDAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | FIDAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.90% | -3.90% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 12.44% | -10.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 16.19% | -6.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 20.60% | -1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 21.79% | +0.72% |
SFPAX vs. FIDAX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than FIDAX's 1.24% expense ratio.
Dividends
SFPAX vs. FIDAX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while FIDAX's dividend yield for the trailing twelve months is around 45.58%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIDAX John Hancock Financial Industries Fund | 45.58% | 48.19% | 10.24% | 1.91% | 11.22% | 23.08% | 5.41% | 7.56% | 7.72% | 6.10% | 6.01% | 0.93% |
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 FIDAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIDAX has higher volatility (3.90%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs FIDAX's -70.42%.
FIDAX currently has the higher Sharpe Ratio (0.69 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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