SHPAX vs. LUNAX
Compare and contrast key facts about Saratoga Health & Biotechnology Fund (SHPAX) and Saratoga Conservative Balanced Allocation Portfolio (LUNAX).
SHPAX is managed by Saratoga. It was launched on Jul 14, 1999. LUNAX is managed by Saratoga. It was launched on Dec 28, 2017.
Performance
SHPAX vs. LUNAX - Performance Comparison
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SHPAX vs. LUNAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SHPAX Saratoga Health & Biotechnology Fund | 0.66% | 17.43% | 0.26% | -0.36% | 1.93% | 16.71% | 3.52% | 27.67% | -9.89% |
LUNAX Saratoga Conservative Balanced Allocation Portfolio | -2.05% | 10.95% | 8.76% | 9.89% | -8.78% | 10.51% | 7.46% | 14.09% | -5.55% |
Returns By Period
In the year-to-date period, SHPAX achieves a 0.66% return, which is significantly higher than LUNAX's -2.05% return.
SHPAX
- 1D
- 1.81%
- 1M
- -5.10%
- YTD
- 0.66%
- 6M
- 9.79%
- 1Y
- 15.26%
- 3Y*
- 7.57%
- 5Y*
- 5.93%
- 10Y*
- 7.03%
LUNAX
- 1D
- 1.57%
- 1M
- -3.51%
- YTD
- -2.05%
- 6M
- -0.72%
- 1Y
- 9.18%
- 3Y*
- 8.27%
- 5Y*
- 4.63%
- 10Y*
- —
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SHPAX vs. LUNAX - Expense Ratio Comparison
SHPAX has a 2.90% expense ratio, which is higher than LUNAX's 0.99% expense ratio.
Return for Risk
SHPAX vs. LUNAX — Risk / Return Rank
SHPAX
LUNAX
SHPAX vs. LUNAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Health & Biotechnology Fund (SHPAX) and Saratoga Conservative Balanced Allocation Portfolio (LUNAX). 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.
| SHPAX | LUNAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.86 | 1.21 | -0.36 |
Sortino ratioReturn per unit of downside risk | 1.28 | 1.79 | -0.51 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.89 | 1.70 | +0.19 |
Martin ratioReturn relative to average drawdown | 5.16 | 6.86 | -1.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SHPAX | LUNAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.21 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.63 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.30 | 0.59 | -0.29 |
Correlation
The correlation between SHPAX and LUNAX is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SHPAX vs. LUNAX - Dividend Comparison
SHPAX's dividend yield for the trailing twelve months is around 3.64%, less than LUNAX's 9.56% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHPAX Saratoga Health & Biotechnology Fund | 3.64% | 3.66% | 1.35% | 5.38% | 6.34% | 3.76% | 13.82% | 13.24% | 22.00% | 17.98% | 12.52% | 10.70% |
LUNAX Saratoga Conservative Balanced Allocation Portfolio | 9.56% | 9.36% | 3.54% | 2.54% | 4.91% | 7.81% | 0.46% | 3.57% | 2.14% | 0.00% | 0.00% | 0.00% |
Drawdowns
SHPAX vs. LUNAX - Drawdown Comparison
The maximum SHPAX drawdown since its inception was -69.50%, which is greater than LUNAX's maximum drawdown of -18.47%. Use the drawdown chart below to compare losses from any high point for SHPAX and LUNAX.
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Drawdown Indicators
| SHPAX | LUNAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.50% | -18.47% | -51.03% |
Max Drawdown (1Y)Largest decline over 1 year | -7.87% | -5.41% | -2.46% |
Max Drawdown (5Y)Largest decline over 5 years | -16.32% | -11.78% | -4.54% |
Max Drawdown (10Y)Largest decline over 10 years | -28.05% | — | — |
Current DrawdownCurrent decline from peak | -5.31% | -3.93% | -1.38% |
Average DrawdownAverage peak-to-trough decline | -28.07% | -2.89% | -25.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 1.34% | +1.54% |
Volatility
SHPAX vs. LUNAX - Volatility Comparison
Saratoga Health & Biotechnology Fund (SHPAX) has a higher volatility of 5.09% compared to Saratoga Conservative Balanced Allocation Portfolio (LUNAX) at 3.21%. This indicates that SHPAX's price experiences larger fluctuations and is considered to be riskier than LUNAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHPAX | LUNAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 3.21% | +1.88% |
Volatility (6M)Calculated over the trailing 6-month period | 9.90% | 5.07% | +4.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.63% | 7.95% | +8.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.21% | 7.44% | +6.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.57% | 8.77% | +7.80% |