SHPAX vs. SLCGX
SHPAX (Saratoga Health & Biotechnology Fund) and SLCGX (Saratoga Large Capitalization Growth Portfolio) are both mutual funds - SHPAX is a Health & Biotech Equities fund managed by Saratoga, while SLCGX is a Large Cap Growth Equities fund managed by Saratoga. Over the past 10 years, SHPAX returned 6.90%/yr vs 18.65%/yr for SLCGX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. SHPAX charges 2.90%/yr vs 1.34%/yr for SLCGX.
Performance
SHPAX vs. SLCGX - Performance Comparison
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Returns By Period
In the year-to-date period, SHPAX achieves a 8.70% return, which is significantly higher than SLCGX's -1.83% return. Over the past 10 years, SHPAX has underperformed SLCGX with an annualized return of 6.90%, while SLCGX has yielded a comparatively higher 18.65% annualized return.
SHPAX
- 1D
- -0.43%
- 1M
- 0.61%
- 6M
- 6.99%
- YTD
- 8.70%
- 1Y
- 28.95%
- 3Y*
- 9.65%
- 5Y*
- 5.82%
- 10Y*
- 6.90%
- ALL TIME*
- 6.58%
SLCGX
- 1D
- 2.93%
- 1M
- -1.51%
- 6M
- 2.45%
- YTD
- -1.83%
- 1Y
- 8.50%
- 3Y*
- 22.22%
- 5Y*
- 13.13%
- 10Y*
- 18.65%
- ALL TIME*
- 11.03%
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 |
SHPAX vs. SLCGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHPAX Saratoga Health & Biotechnology Fund | 8.70% | 17.43% | 0.26% | -0.36% | 1.93% | 16.71% | 3.52% | 27.67% | -5.30% | 11.78% |
SLCGX Saratoga Large Capitalization Growth Portfolio | -1.83% | 22.74% | 40.67% | 38.79% | -28.77% | 32.60% | 28.67% | 51.18% | -0.28% | 30.32% |
Correlation
The correlation between SHPAX and SLCGX is 0.11, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.27 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.53 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000 | 0.64 |
Over the past year, the correlation between SHPAX and SLCGX has dropped to 0.11 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.
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Return for Risk
SHPAX vs. SLCGX — Risk / Return Rank
SHPAX
SLCGX
SHPAX vs. SLCGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga Health & Biotechnology Fund (SHPAX) and Saratoga Large Capitalization Growth Portfolio (SLCGX). 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.
| SHPAX | SLCGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.43 | ||
| Sortino ratioReturn per unit of downside risk | +2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.07 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 2.85 | 0.35 | +2.50 |
| Martin ratioReturn relative to average drawdown | 7.30 | 1.02 | +6.28 |
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Drawdowns
SHPAX vs. SLCGX - Drawdown Comparison
The maximum SHPAX drawdown since its inception was -69.50%, roughly equal to the maximum SLCGX drawdown of -71.04%. Use the drawdown chart below to compare losses from any high point for SHPAX and SLCGX.
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Drawdown Indicators
| SHPAX | SLCGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.50% | -71.04% | +1.54% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -18.18% | +8.85% |
Max Drawdown (3Y)Largest decline over 3 years | -16.32% | -24.17% | +7.85% |
Max Drawdown (5Y)Largest decline over 5 years | -16.32% | -31.13% | +14.81% |
Max Drawdown (10Y)Largest decline over 10 years | -28.05% | -31.16% | +3.11% |
Current DrawdownCurrent decline from peak | -1.20% | -5.74% | +4.54% |
Average DrawdownAverage peak-to-trough decline | -27.78% | -22.81% | -4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 6.18% | -2.53% |
Volatility
SHPAX vs. SLCGX - Volatility Comparison
The current volatility for Saratoga Health & Biotechnology Fund (SHPAX) is 5.55%, while Saratoga Large Capitalization Growth Portfolio (SLCGX) has a volatility of 5.86%. This indicates that SHPAX experiences smaller price fluctuations and is considered to be less risky than SLCGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SHPAX | SLCGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 5.86% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 11.34% | 14.32% | -2.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.93% | 18.17% | -3.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 21.92% | -7.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 22.13% | -5.48% |
SHPAX vs. SLCGX - Expense Ratio Comparison
SHPAX has a 2.90% expense ratio, which is higher than SLCGX's 1.34% expense ratio.
Dividends
SHPAX vs. SLCGX - Dividend Comparison
SHPAX's dividend yield for the trailing twelve months is around 3.37%, less than SLCGX's 14.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHPAX Saratoga Health & Biotechnology Fund | 3.37% | 3.66% | 1.35% | 5.38% | 6.34% | 3.76% | 13.82% | 13.24% | 22.00% | 17.98% | 12.52% | 10.70% |
SLCGX Saratoga Large Capitalization Growth Portfolio | 14.09% | 13.83% | 23.77% | 7.53% | 7.55% | 23.16% | 8.91% | 31.50% | 25.22% | 5.81% | 23.83% | 10.21% |
Frequently Asked Questions
SHPAX and SLCGX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLCGX has higher volatility (5.86%) compared to SHPAX (5.55%). In terms of maximum drawdown, SHPAX dropped -69.50% vs SLCGX's -71.04%.
SHPAX currently has the higher Sharpe Ratio (1.78 vs 0.35), 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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