SFPAX vs. LIVIX
SFPAX (Saratoga Financial Service Fund) and LIVIX (BlackRock LifePath Index 2055 Fund - Institutional Shares) are both mutual funds - SFPAX is a Financials Equities fund managed by BlackRock, while LIVIX is a Target Retirement Date fund tracking the LifePath Index 2055 Fund Custom Benchmark. Over the past 10 years, SFPAX returned 9.04%/yr vs 11.45%/yr for LIVIX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. SFPAX charges 3.81%/yr vs 0.14%/yr for LIVIX.
Performance
SFPAX vs. LIVIX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed LIVIX with an annualized return of 9.04%, while LIVIX has yielded a comparatively higher 11.45% 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%
LIVIX
- 1D
- 2.03%
- 1M
- -0.54%
- 6M
- 7.67%
- YTD
- 11.03%
- 1Y
- 23.24%
- 3Y*
- 16.68%
- 5Y*
- 9.68%
- 10Y*
- 11.45%
- ALL TIME*
- 10.29%
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. LIVIX - 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% |
LIVIX BlackRock LifePath Index 2055 Fund - Institutional Shares | 11.03% | 21.57% | 13.60% | 21.62% | -18.38% | 18.75% | 14.99% | 26.76% | -7.83% | 21.38% |
Correlation
The correlation between SFPAX and LIVIX is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.57 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.70 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.75 |
Over the past year, the correlation between SFPAX and LIVIX has dropped to 0.27 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
SFPAX vs. LIVIX — Risk / Return Rank
SFPAX
LIVIX
SFPAX vs. LIVIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and BlackRock LifePath Index 2055 Fund - Institutional Shares (LIVIX). 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 | LIVIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.66 | ||
| Sortino ratioReturn per unit of downside risk | -2.28 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.28 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.25 | -2.46 |
| Martin ratioReturn relative to average drawdown | -0.42 | 9.45 | -9.87 |
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Drawdowns
SFPAX vs. LIVIX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, which is greater than LIVIX's maximum drawdown of -34.44%. Use the drawdown chart below to compare losses from any high point for SFPAX and LIVIX.
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Drawdown Indicators
| SFPAX | LIVIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -34.44% | -37.54% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -9.44% | +4.58% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -17.39% | -0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -26.45% | -1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -34.44% | -11.20% |
Current DrawdownCurrent decline from peak | -2.65% | -1.83% | -0.82% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -4.49% | -16.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.25% | +0.07% |
Volatility
SFPAX vs. LIVIX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while BlackRock LifePath Index 2055 Fund - Institutional Shares (LIVIX) has a volatility of 3.92%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than LIVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | LIVIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.92% | -3.92% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 11.50% | -9.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 13.72% | -4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 16.01% | +2.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 16.70% | +5.81% |
SFPAX vs. LIVIX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than LIVIX's 0.14% expense ratio.
Dividends
SFPAX vs. LIVIX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while LIVIX's dividend yield for the trailing twelve months is around 2.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LIVIX BlackRock LifePath Index 2055 Fund - Institutional Shares | 2.29% | 2.48% | 0.01% | 2.04% | 1.96% | 2.04% | 1.56% | 2.95% | 2.35% | 2.27% | 1.54% | 2.88% |
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 LIVIX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LIVIX has higher volatility (3.92%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs LIVIX's -34.44%.
LIVIX currently has the higher Sharpe Ratio (1.55 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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