SFPAX vs. WFSPX
SFPAX (Saratoga Financial Service Fund) and WFSPX (iShares S&P 500 Index Fund Class K) are both mutual funds - SFPAX is a Financials Equities fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, SFPAX returned 9.04%/yr vs 15.19%/yr for WFSPX. Their correlation of 0.81 suggests significant overlap in exposure. SFPAX charges 3.81%/yr vs 0.03%/yr for WFSPX.
Performance
SFPAX vs. WFSPX - Performance Comparison
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Returns By Period
Over the past 10 years, SFPAX has underperformed WFSPX with an annualized return of 9.04%, while WFSPX has yielded a comparatively higher 15.19% 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%
WFSPX
- 1D
- 0.43%
- 1M
- 2.02%
- 6M
- 9.19%
- YTD
- 11.33%
- 1Y
- 22.40%
- 3Y*
- 21.06%
- 5Y*
- 13.21%
- 10Y*
- 15.19%
SFPAX vs. WFSPX - 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% |
WFSPX iShares S&P 500 Index Fund Class K | 11.33% | 17.83% | 24.94% | 26.25% | -18.14% | 28.63% | 18.43% | 31.45% | -4.83% | 21.27% |
Correlation
The correlation between SFPAX and WFSPX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001 | 0.81 |
Over the past year, the correlation between SFPAX and WFSPX has dropped to 0.32 - 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. WFSPX — Risk / Return Rank
SFPAX
WFSPX
SFPAX vs. WFSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Financial Service Fund (SFPAX) and iShares S&P 500 Index Fund Class K (WFSPX). 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 | WFSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.88 | ||
| Sortino ratioReturn per unit of downside risk | -2.51 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.32 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 2.48 | -2.69 |
| Martin ratioReturn relative to average drawdown | -0.42 | 10.89 | -11.31 |
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Drawdowns
SFPAX vs. WFSPX - Drawdown Comparison
The maximum SFPAX drawdown since its inception was -71.98%, which is greater than WFSPX's maximum drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for SFPAX and WFSPX.
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Drawdown Indicators
| SFPAX | WFSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.98% | -58.21% | -13.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -8.90% | +4.04% |
Max Drawdown (3Y)Largest decline over 3 years | -17.92% | -18.74% | +0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -24.51% | -3.00% |
Max Drawdown (10Y)Largest decline over 10 years | -45.64% | -33.74% | -11.90% |
Current DrawdownCurrent decline from peak | -2.65% | -0.32% | -2.33% |
Average DrawdownAverage peak-to-trough decline | -20.91% | -12.74% | -8.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.02% | +0.30% |
Volatility
SFPAX vs. WFSPX - Volatility Comparison
The current volatility for Saratoga Financial Service Fund (SFPAX) is 0.00%, while iShares S&P 500 Index Fund Class K (WFSPX) has a volatility of 4.26%. This indicates that SFPAX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SFPAX | WFSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 4.26% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 1.96% | 9.95% | -7.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 12.51% | -3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.73% | 16.98% | +1.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 18.00% | +4.51% |
SFPAX vs. WFSPX - Expense Ratio Comparison
SFPAX has a 3.81% expense ratio, which is higher than WFSPX's 0.03% expense ratio.
Dividends
SFPAX vs. WFSPX - Dividend Comparison
SFPAX has not paid dividends to shareholders, while WFSPX's dividend yield for the trailing twelve months is around 1.64%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
WFSPX iShares S&P 500 Index Fund Class K | 1.64% | 1.72% | 1.41% | 1.50% | 2.02% | 1.82% | 1.66% | 1.99% | 2.00% | 1.62% | 2.37% | 2.49% |
Frequently Asked Questions
SFPAX and WFSPX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WFSPX has higher volatility (4.26%) compared to SFPAX (0.00%). In terms of maximum drawdown, SFPAX dropped -71.98% vs WFSPX's -58.21%.
WFSPX currently has the higher Sharpe Ratio (1.77 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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