SFPAX vs. FRBAX
SFPAX (Saratoga Financial Service Fund) and FRBAX (John Hancock Regional Bank Fund) are both Financials Equities funds. Over the past 10 years, SFPAX returned 9.04%/yr vs 10.72%/yr for FRBAX. Their correlation of 0.88 suggests significant overlap in exposure. SFPAX charges 3.81%/yr vs 1.22%/yr for FRBAX.
Performance
SFPAX vs. FRBAX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed FRBAX with an annualized return of 9.04%, while FRBAX has yielded a comparatively higher 10.72% 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%
FRBAX
- 1D
- 0.59%
- 1M
- 3.15%
- 6M
- 15.17%
- YTD
- 17.27%
- 1Y
- 24.03%
- 3Y*
- 26.04%
- 5Y*
- 8.89%
- 10Y*
- 10.72%
SFPAX vs. FRBAX - 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% |
FRBAX John Hancock Regional Bank Fund | 17.27% | 11.07% | 22.54% | -1.93% | -12.25% | 40.51% | -10.11% | 27.60% | -17.61% | 10.32% |
Correlation
The correlation between SFPAX and FRBAX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.73 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.88 |
Over the past year, the correlation between SFPAX and FRBAX has dropped to 0.45 - well below their long-term average of 0.88, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. FRBAX — Risk / Return Rank
SFPAX
FRBAX
SFPAX vs. FRBAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and John Hancock Regional Bank Fund (FRBAX). 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 | FRBAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.20 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 1.59 | -1.80 |
| Martin ratioReturn relative to average drawdown | -0.42 | 4.19 | -4.61 |
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Drawdowns
SFPAX vs. FRBAX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, which is greater than FRBAX's maximum drawdown of -67.55%. Use the drawdown chart below to compare losses from any high point for SFPAX and FRBAX.
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Drawdown Indicators
| SFPAX | FRBAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -67.55% | -4.43% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -14.22% | +9.36% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -25.26% | +7.34% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -46.15% | +18.64% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -52.24% | +6.60% |
Current DrawdownCurrent decline from peak | -2.65% | -1.48% | -1.17% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -12.25% | -8.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 5.41% | -3.09% |
Volatility
SFPAX vs. FRBAX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while John Hancock Regional Bank Fund (FRBAX) has a volatility of 5.32%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than FRBAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | FRBAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 5.32% | -5.32% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 15.16% | -13.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 21.30% | -12.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 26.39% | -7.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 29.24% | -6.73% |
SFPAX vs. FRBAX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than FRBAX's 1.22% expense ratio.
Dividends
SFPAX vs. FRBAX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while FRBAX's dividend yield for the trailing twelve months is around 7.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRBAX John Hancock Regional Bank Fund | 7.26% | 8.82% | 9.72% | 2.65% | 5.83% | 5.26% | 2.43% | 1.75% | 1.92% | 1.76% | 2.94% | 4.42% |
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 FRBAX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRBAX has higher volatility (5.32%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs FRBAX's -67.55%.
FRBAX currently has the higher Sharpe Ratio (1.06 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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