SLCGX vs. FELIX

Last updated Jun 4, 2026

SLCGX (Saratoga Large Capitalization Growth Portfolio) and FELIX (Fidelity Advisor Semiconductors Fund Class I) are both mutual funds - SLCGX is a Large Cap Growth Equities fund managed by Saratoga, while FELIX is a Technology Equities fund managed by Fidelity. Over the past 10 years, SLCGX returned 19.62%/yr vs 37.61%/yr for FELIX. A 0.80 correlation means they provide meaningful diversification when combined. SLCGX charges 1.34%/yr vs 0.75%/yr for FELIX.

Performance

SLCGX vs. FELIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Large Capitalization Growth Portfolio (SLCGX) and Fidelity Advisor Semiconductors Fund Class I (FELIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLCGX achieves a 3.44% return, which is significantly lower than FELIX's 84.99% return. Over the past 10 years, SLCGX has underperformed FELIX with an annualized return of 19.62%, while FELIX has yielded a comparatively higher 37.61% annualized return.

SLCGX

• 1D: -0.68%
• 1M: 7.26%
• YTD: 3.44%
• 6M: 4.29%
• 1Y: 21.04%
• 3Y*: 27.15%
• 5Y*: 16.65%
• 10Y*: 19.62%

FELIX

• 1D: 6.40%
• 1M: 26.21%
• YTD: 84.99%
• 6M: 82.86%
• 1Y: 170.17%
• 3Y*: 63.90%
• 5Y*: 43.93%
• 10Y*: 37.61%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SLCGX vs. FELIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLCGX Saratoga Large Capitalization Growth Portfolio	3.44%	22.74%	40.67%	38.79%	-28.77%	32.60%	28.67%	51.18%	-0.28%	30.32%
FELIX Fidelity Advisor Semiconductors Fund Class I	84.99%	45.25%	44.10%	75.49%	-34.88%	57.89%	44.02%	64.21%	-12.52%	34.54%

Correlation

The correlation between SLCGX and FELIX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 28, 2000	0.80

The correlation between SLCGX and FELIX shifts across timeframes, from 0.68 (1 year) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SLCGX vs. FELIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SLCGX

SLCGX Risk / Return Rank: 17
SLCGX Sharpe Ratio Rank: 21
SLCGX Sortino Ratio Rank: 18
SLCGX Omega Ratio Rank: 20
SLCGX Calmar Ratio Rank: 13
SLCGX Martin Ratio Rank: 13

FELIX

FELIX Risk / Return Rank: 97
FELIX Sharpe Ratio Rank: 100
FELIX Sortino Ratio Rank: 96
FELIX Omega Ratio Rank: 94
FELIX Calmar Ratio Rank: 99
FELIX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SLCGX vs. FELIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Large Capitalization Growth Portfolio (SLCGX) and Fidelity Advisor Semiconductors Fund Class I (FELIX). 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.

	SLCGX	FELIX	Difference
Sharpe ratio Return per unit of total volatility	1.32	5.51	-4.20
Sortino ratio Return per unit of downside risk	1.81	5.34	-3.53
Omega ratio Gain probability vs. loss probability	1.23	1.73	-0.49
Calmar ratio Return relative to maximum drawdown	1.21	12.24	-11.03
Martin ratio Return relative to average drawdown	3.73	47.66	-43.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLCGX vs. FELIX - Sharpe Ratio Comparison

The current SLCGX Sharpe Ratio is 1.32, which is lower than the FELIX Sharpe Ratio of 5.51. The chart below compares the historical Sharpe Ratios of SLCGX and FELIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SLCGX	FELIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	5.51	-4.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	1.15	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	1.09	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.48	+0.02

Drawdowns

SLCGX vs. FELIX - Drawdown Comparison

The maximum SLCGX drawdown since its inception was -71.04%, roughly equal to the maximum FELIX drawdown of -71.17%. Use the drawdown chart below to compare losses from any high point for SLCGX and FELIX.

Drawdown Indicators

	SLCGX	FELIX	Difference
Max Drawdown Largest peak-to-trough decline	-71.04%	-71.17%	+0.13%
Max Drawdown (1Y) Largest decline over 1 year	-18.18%	-14.65%	-3.53%
Max Drawdown (3Y) Largest decline over 3 years	-24.17%	-36.40%	+12.23%
Max Drawdown (5Y) Largest decline over 5 years	-31.13%	-46.02%	+14.89%
Max Drawdown (10Y) Largest decline over 10 years	-31.16%	-46.02%	+14.86%
Current Drawdown Current decline from peak	-0.68%	0.00%	-0.68%
Average Drawdown Average peak-to-trough decline	-22.91%	-21.14%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.87%	3.75%	+2.12%

Volatility

SLCGX vs. FELIX - Volatility Comparison

The current volatility for Saratoga Large Capitalization Growth Portfolio (SLCGX) is 3.65%, while Fidelity Advisor Semiconductors Fund Class I (FELIX) has a volatility of 11.90%. This indicates that SLCGX experiences smaller price fluctuations and is considered to be less risky than FELIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLCGX	FELIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	11.90%	-8.25%
Volatility (6M) Calculated over the trailing 6-month period	12.54%	25.31%	-12.77%
Volatility (1Y) Calculated over the trailing 1-year period	16.65%	32.52%	-15.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.67%	38.35%	-16.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.02%	34.69%	-12.67%

SLCGX vs. FELIX - Expense Ratio Comparison

SLCGX has a 1.34% expense ratio, which is higher than FELIX's 0.75% expense ratio.

Dividends

SLCGX vs. FELIX - Dividend Comparison

SLCGX's dividend yield for the trailing twelve months is around 13.37%, more than FELIX's 3.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELIX Fidelity Advisor Semiconductors Fund Class I	3.52%	6.51%	6.44%	3.15%	3.09%	4.14%	4.43%	1.04%	19.34%	9.50%	0.55%	10.37%
SLCGX Saratoga Large Capitalization Growth Portfolio	13.37%	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

Can I hold both SLCGX and FELIX in my portfolio?

SLCGX and FELIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLCGX or FELIX?

FELIX has higher volatility (11.90%) compared to SLCGX (3.65%). In terms of maximum drawdown, SLCGX dropped -71.04% vs FELIX's -71.17%.

Which has better risk-adjusted returns?

FELIX currently has the higher Sharpe Ratio (5.51 vs 1.32), 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.