SFPAX vs. GAFSX
SFPAX (Saratoga Financial Service Fund) and GAFSX (Gabelli Global Financial Services Fund Class AAA) are both Financials Equities funds. Over the past 5 years, SFPAX returned 6.22%/yr vs 18.35%/yr for GAFSX. Their correlation of 0.81 means they have usually moved in the same direction. SFPAX charges 3.81%/yr vs 1.25%/yr for GAFSX.
Performance
SFPAX vs. GAFSX - Performance Comparison
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Returns By Period
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%
GAFSX
- 1D
- 0.89%
- 1M
- 4.74%
- 6M
- 10.21%
- YTD
- 12.97%
- 1Y
- 31.35%
- 3Y*
- 27.72%
- 5Y*
- 18.35%
- 10Y*
- —
- ALL TIME*
- 15.23%
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. GAFSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SFPAX Saratoga Financial Service Fund | 0.00% | 7.00% | 26.05% | 10.58% | -14.36% | 31.17% | -5.81% | 29.63% | -16.25% |
GAFSX Gabelli Global Financial Services Fund Class AAA | 12.97% | 36.22% | 27.78% | 25.43% | -11.28% | 28.74% | -1.51% | 8.88% | 0.34% |
Correlation
The correlation between SFPAX and GAFSX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2018 | 0.81 |
Over the past year, the correlation between SFPAX and GAFSX has dropped to 0.35 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. GAFSX — Risk / Return Rank
SFPAX
GAFSX
SFPAX vs. GAFSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and Gabelli Global Financial Services Fund Class AAA (GAFSX). 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 | GAFSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -3.50 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.41 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 3.08 | -3.29 |
| Martin ratioReturn relative to average drawdown | -0.42 | 10.04 | -10.46 |
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Drawdowns
SFPAX vs. GAFSX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, which is greater than GAFSX's maximum drawdown of -46.40%. Use the drawdown chart below to compare losses from any high point for SFPAX and GAFSX.
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Drawdown Indicators
| SFPAX | GAFSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -46.40% | -25.58% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -9.47% | +4.61% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -14.49% | -3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -28.21% | +0.70% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | — | — |
Current DrawdownCurrent decline from peak | -2.65% | 0.00% | -2.65% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -7.53% | -13.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.90% | -0.58% |
Volatility
SFPAX vs. GAFSX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while Gabelli Global Financial Services Fund Class AAA (GAFSX) has a volatility of 3.29%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than GAFSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | GAFSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.29% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 9.56% | -7.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 12.61% | -3.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 17.21% | +1.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 21.66% | +0.85% |
SFPAX vs. GAFSX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than GAFSX's 1.25% expense ratio.
Dividends
SFPAX vs. GAFSX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while GAFSX's dividend yield for the trailing twelve months is around 1.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
GAFSX Gabelli Global Financial Services Fund Class AAA | 1.51% | 1.71% | 2.22% | 2.45% | 2.66% | 1.94% | 1.35% | 2.26% | 0.34% |
SFPAX Saratoga Financial Service Fund | 0.00% | 0.00% | 5.91% | 5.05% | 5.71% | 5.03% | 4.18% | 7.10% | 22.58% |
Frequently Asked Questions
SFPAX and GAFSX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GAFSX has higher volatility (3.29%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs GAFSX's -46.40%.
GAFSX currently has the higher Sharpe Ratio (2.32 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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