SFPAX vs. FIDSX
SFPAX (Saratoga Financial Service Fund) and FIDSX (Fidelity Select Financial Services Portfolio) are both Financials Equities funds from BlackRock. Over the past 10 years, SFPAX returned 9.04%/yr vs 13.82%/yr for FIDSX. Their correlation of 0.95 means they have usually moved in the same direction. SFPAX charges 3.81%/yr vs 0.73%/yr for FIDSX.
Performance
SFPAX vs. FIDSX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed FIDSX with an annualized return of 9.04%, while FIDSX has yielded a comparatively higher 13.82% 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%
FIDSX
- 1D
- 0.88%
- 1M
- 2.98%
- 6M
- 9.41%
- YTD
- 9.69%
- 1Y
- 13.60%
- 3Y*
- 20.56%
- 5Y*
- 12.31%
- 10Y*
- 13.82%
- ALL TIME*
- 11.25%
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. FIDSX - 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% |
FIDSX Fidelity Select Financial Services Portfolio | 9.69% | 9.33% | 32.82% | 14.53% | -8.19% | 33.13% | 1.22% | 34.25% | -16.13% | 20.92% |
Correlation
The correlation between SFPAX and FIDSX 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. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.94 |
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 FIDSX has dropped to 0.46 - 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. FIDSX — Risk / Return Rank
SFPAX
FIDSX
SFPAX vs. FIDSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and Fidelity Select Financial Services Portfolio (FIDSX). 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 | FIDSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.12 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 0.63 | -0.84 |
| Martin ratioReturn relative to average drawdown | -0.42 | 1.53 | -1.95 |
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Drawdowns
SFPAX vs. FIDSX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, roughly equal to the maximum FIDSX drawdown of -74.26%. Use the drawdown chart below to compare losses from any high point for SFPAX and FIDSX.
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Drawdown Indicators
| SFPAX | FIDSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -74.26% | +2.28% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -16.60% | +11.74% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -19.44% | +1.52% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -24.49% | -3.02% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -45.48% | -0.16% |
Current DrawdownCurrent decline from peak | -2.65% | -0.80% | -1.85% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -13.91% | -7.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 6.86% | -4.54% |
Volatility
SFPAX vs. FIDSX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while Fidelity Select Financial Services Portfolio (FIDSX) has a volatility of 4.85%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than FIDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | FIDSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 4.85% | -4.85% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 12.28% | -10.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 17.23% | -8.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 20.65% | -1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 23.65% | -1.14% |
SFPAX vs. FIDSX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than FIDSX's 0.73% expense ratio.
Dividends
SFPAX vs. FIDSX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while FIDSX's dividend yield for the trailing twelve months is around 1.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIDSX Fidelity Select Financial Services Portfolio | 1.32% | 1.70% | 6.03% | 3.01% | 11.32% | 4.12% | 5.86% | 5.57% | 12.89% | 4.22% | 1.00% | 0.70% |
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 FIDSX 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.
FIDSX has higher volatility (4.85%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs FIDSX's -74.26%.
FIDSX currently has the higher Sharpe Ratio (0.61 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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