SFPAX vs. FSPCX
SFPAX (Saratoga Financial Service Fund) and FSPCX (Fidelity Select Insurance Portfolio) are both Financials Equities funds. Over the past 10 years, SFPAX returned 9.04%/yr vs 13.33%/yr for FSPCX. Their correlation of 0.85 means they have usually moved in the same direction. SFPAX charges 3.81%/yr vs 0.78%/yr for FSPCX.
Performance
SFPAX vs. FSPCX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed FSPCX with an annualized return of 9.04%, while FSPCX has yielded a comparatively higher 13.33% 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%
FSPCX
- 1D
- -1.94%
- 1M
- 2.00%
- 6M
- 12.61%
- YTD
- 10.79%
- 1Y
- 16.31%
- 3Y*
- 17.03%
- 5Y*
- 14.82%
- 10Y*
- 13.33%
- ALL TIME*
- 11.50%
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. FSPCX - 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% |
FSPCX Fidelity Select Insurance Portfolio | 10.79% | 3.45% | 28.44% | 12.98% | 7.75% | 29.26% | 0.00% | 30.06% | -11.99% | 15.50% |
Correlation
The correlation between SFPAX and FSPCX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.59 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.73 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.85 |
Over the past year, the correlation between SFPAX and FSPCX has dropped to 0.26 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. FSPCX — Risk / Return Rank
SFPAX
FSPCX
SFPAX vs. FSPCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and Fidelity Select Insurance Portfolio (FSPCX). 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 | FSPCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.07 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.18 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 1.59 | -1.80 |
| Martin ratioReturn relative to average drawdown | -0.42 | 3.24 | -3.66 |
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Drawdowns
SFPAX vs. FSPCX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, roughly equal to the maximum FSPCX drawdown of -69.48%. Use the drawdown chart below to compare losses from any high point for SFPAX and FSPCX.
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Drawdown Indicators
| SFPAX | FSPCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -69.48% | -2.50% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -9.98% | +5.12% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -11.69% | -6.23% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -16.65% | -10.86% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -43.68% | -1.96% |
Current DrawdownCurrent decline from peak | -2.65% | -2.17% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -9.68% | -11.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 4.88% | -2.56% |
Volatility
SFPAX vs. FSPCX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while Fidelity Select Insurance Portfolio (FSPCX) has a volatility of 7.17%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than FSPCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | FSPCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 7.17% | -7.17% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 12.93% | -10.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 16.55% | -7.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 17.63% | +1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 20.13% | +2.38% |
SFPAX vs. FSPCX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than FSPCX's 0.78% expense ratio.
Dividends
SFPAX vs. FSPCX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while FSPCX's dividend yield for the trailing twelve months is around 4.25%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSPCX Fidelity Select Insurance Portfolio | 4.25% | 3.35% | 8.72% | 8.48% | 0.74% | 8.40% | 8.80% | 6.90% | 32.69% | 12.52% | 2.81% | 3.11% |
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 FSPCX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSPCX has higher volatility (7.17%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs FSPCX's -69.48%.
FSPCX currently has the higher Sharpe Ratio (0.96 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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