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 11.14%/yr for FIDAX. Their correlation of 0.94 means they have usually moved in the same direction. 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 11.14% 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%
FIDAX
- 1D
- 0.55%
- 1M
- 2.74%
- 6M
- 7.17%
- YTD
- 7.41%
- 1Y
- 17.81%
- 3Y*
- 18.13%
- 5Y*
- 8.78%
- 10Y*
- 11.14%
- ALL TIME*
- 7.70%
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. 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 | 7.41% | 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 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.94 |
Over the past year, the correlation between SFPAX and FIDAX has dropped to 0.46 - well below their long-term average of 0.94, 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 | -1.03 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.17 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 1.08 | -1.29 |
| Martin ratioReturn relative to average drawdown | -0.42 | 3.05 | -3.47 |
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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% | -1.08% | -1.57% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -14.01% | -6.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 4.87% | -2.55% |
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 4.17%. 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% | 4.17% | -4.17% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 12.11% | -10.15% |
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% | 20.52% | -1.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 21.80% | +0.71% |
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 44.86%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIDAX John Hancock Financial Industries Fund | 44.86% | 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 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIDAX has higher volatility (4.17%) 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 (0.92 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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