SIEPX vs. SBMBX
SIEPX (Saratoga International Equity Portfolio) and SBMBX (Saratoga Energy & Basic Materials Fund) are both mutual funds - SIEPX is a Foreign Large Cap Equities fund managed by Saratoga, while SBMBX is a Energy Equities fund managed by Saratoga. Over the past 10 years, SIEPX returned 7.35%/yr vs 2.08%/yr for SBMBX. A 0.62 correlation means they provide meaningful diversification when combined. SIEPX charges 2.47%/yr vs 3.30%/yr for SBMBX.
Performance
SIEPX vs. SBMBX - Performance Comparison
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Returns By Period
Over the past 10 years, SIEPX has outperformed SBMBX with an annualized return of 7.35%, while SBMBX has yielded a comparatively lower 2.08% annualized return.
SIEPX
- 1D
- 1.29%
- 1M
- 3.73%
- YTD
- 15.65%
- 6M
- 15.96%
- 1Y
- 28.60%
- 3Y*
- 18.73%
- 5Y*
- 8.51%
- 10Y*
- 7.35%
SBMBX
- 1D
- 0.00%
- 1M
- 0.00%
- YTD
- 0.00%
- 6M
- 0.00%
- 1Y
- 2.30%
- 3Y*
- 1.48%
- 5Y*
- 5.34%
- 10Y*
- 2.08%
SIEPX vs. SBMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SIEPX Saratoga International Equity Portfolio | 15.65% | 31.89% | 5.25% | 14.80% | -21.85% | 19.33% | 5.87% | 19.77% | -23.89% | 18.63% |
SBMBX Saratoga Energy & Basic Materials Fund | 0.00% | 5.05% | -7.25% | 6.28% | 19.60% | 25.58% | -19.21% | -0.96% | -18.00% | 8.44% |
Correlation
The correlation between SIEPX and SBMBX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998 | 0.62 |
Over the past year, the correlation between SIEPX and SBMBX has dropped to 0.28 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
SIEPX vs. SBMBX — Risk / Return Rank
SIEPX
SBMBX
SIEPX vs. SBMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Saratoga International Equity Portfolio (SIEPX) and Saratoga Energy & Basic Materials Fund (SBMBX). 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.
| SIEPX | SBMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.55 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.07 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | 0.46 | +1.99 |
| Martin ratioReturn relative to average drawdown | 9.06 | 0.89 | +8.17 |
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Drawdowns
SIEPX vs. SBMBX - Drawdown Comparison
The maximum SIEPX drawdown since its inception was -62.81%, smaller than the maximum SBMBX drawdown of -74.35%. Use the drawdown chart below to compare losses from any high point for SIEPX and SBMBX.
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Drawdown Indicators
| SIEPX | SBMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.81% | -74.35% | +11.54% |
Max Drawdown (1Y)Largest decline over 1 year | -11.41% | -5.66% | -5.75% |
Max Drawdown (3Y)Largest decline over 3 years | -15.63% | -25.34% | +9.71% |
Max Drawdown (5Y)Largest decline over 5 years | -35.31% | -26.66% | -8.65% |
Max Drawdown (10Y)Largest decline over 10 years | -46.47% | -65.48% | +19.01% |
Current DrawdownCurrent decline from peak | 0.00% | -31.22% | +31.22% |
Average DrawdownAverage peak-to-trough decline | -24.01% | -28.69% | +4.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 2.80% | +0.27% |
Volatility
SIEPX vs. SBMBX - Volatility Comparison
Saratoga International Equity Portfolio (SIEPX) has a higher volatility of 5.70% compared to Saratoga Energy & Basic Materials Fund (SBMBX) at 0.00%. This indicates that SIEPX's price experiences larger fluctuations and is considered to be riskier than SBMBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SIEPX | SBMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 0.00% | +5.70% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 3.20% | +9.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.46% | 10.32% | +5.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.55% | 20.60% | -4.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.66% | 24.03% | -6.37% |
SIEPX vs. SBMBX - Expense Ratio Comparison
SIEPX has a 2.47% expense ratio, which is lower than SBMBX's 3.30% expense ratio.
Dividends
SIEPX vs. SBMBX - Dividend Comparison
SIEPX has not paid dividends to shareholders, while SBMBX's dividend yield for the trailing twelve months is around 2.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SBMBX Saratoga Energy & Basic Materials Fund | 2.13% | 2.13% | 2.17% | 0.00% | 2.75% | 0.75% | 1.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SIEPX Saratoga International Equity Portfolio | 0.00% | 0.00% | 0.71% | 0.83% | 0.31% | 0.41% | 1.79% | 1.97% | 0.58% | 0.03% | 0.63% | 0.15% |
Frequently Asked Questions
SIEPX and SBMBX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SIEPX has higher volatility (5.70%) compared to SBMBX (0.00%). In terms of maximum drawdown, SIEPX dropped -62.81% vs SBMBX's -74.35%.
SIEPX currently has the higher Sharpe Ratio (1.80 vs 0.25), 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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