VFAIX vs. SFPAX
VFAIX (Vanguard Financials Index Fund Admiral Shares) and SFPAX (Saratoga Financial Service Fund) are both Financials Equities funds. Over the past 10 years, VFAIX returned 13.51%/yr vs 9.04%/yr for SFPAX. Their 0.95 correlation means they have historically moved very closely together. VFAIX charges 0.09%/yr vs 3.81%/yr for SFPAX.
Performance
VFAIX vs. SFPAX - Performance Comparison
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Returns By Period
Over the past 10 years, VFAIX has outperformed SFPAX with an annualized return of 13.51%, while SFPAX has yielded a comparatively lower 9.04% annualized return.
VFAIX
- 1D
- -0.11%
- 1M
- 2.23%
- 6M
- 6.28%
- YTD
- 5.34%
- 1Y
- 13.08%
- 3Y*
- 19.65%
- 5Y*
- 11.51%
- 10Y*
- 13.51%
- ALL TIME*
- 6.80%
SFPAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- 2.51%
- 3Y*
- 15.10%
- 5Y*
- 6.22%
- 10Y*
- 9.04%
- ALL TIME*
- 3.28%
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 |
VFAIX vs. SFPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFAIX Vanguard Financials Index Fund Admiral Shares | 5.34% | 14.90% | 30.46% | 14.07% | -12.26% | 36.27% | -2.15% | 31.63% | -13.47% | 20.05% |
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% |
Correlation
The correlation between VFAIX and SFPAX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2004 | 0.95 |
Over the past year, the correlation between VFAIX and SFPAX has dropped to 0.48 - well below their long-term average of 0.95, suggesting their price drivers have been diverging.
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Return for Risk
VFAIX vs. SFPAX — Risk / Return Rank
VFAIX
SFPAX
VFAIX vs. SFPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Financials Index Fund Admiral Shares (VFAIX) and Saratoga Financial Service Fund (SFPAX). 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.
| VFAIX | SFPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 0.98 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | -0.21 | +0.96 |
| Martin ratioReturn relative to average drawdown | 1.94 | -0.42 | +2.36 |
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Drawdowns
VFAIX vs. SFPAX - Drawdown Comparison
The maximum VFAIX drawdown since its inception was -78.64%, which is greater than SFPAX's maximum drawdown of -71.98%. Use the drawdown chart below to compare losses from any high point for VFAIX and SFPAX.
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Drawdown Indicators
| VFAIX | SFPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.64% | -71.98% | -6.66% |
Max Drawdown (1Y)Largest decline over 1 year | -14.72% | -4.86% | -9.86% |
Max Drawdown (3Y)Largest decline over 3 years | -17.31% | -17.92% | +0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -25.71% | -27.51% | +1.80% |
Max Drawdown (10Y)Largest decline over 10 years | -44.37% | -45.64% | +1.27% |
Current DrawdownCurrent decline from peak | -1.19% | -2.65% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -18.49% | -20.91% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.66% | 2.32% | +3.34% |
Volatility
VFAIX vs. SFPAX - Volatility Comparison
Vanguard Financials Index Fund Admiral Shares (VFAIX) has a higher volatility of 4.07% compared to Saratoga Financial Service Fund (SFPAX) at 0.00%. This indicates that VFAIX's price experiences larger fluctuations and is considered to be riskier than SFPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFAIX | SFPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.07% | 0.00% | +4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 11.21% | 1.96% | +9.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.04% | 9.20% | +5.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.16% | 18.73% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.54% | 22.51% | +0.03% |
VFAIX vs. SFPAX - Expense Ratio Comparison
VFAIX has a 0.09% expense ratio, which is lower than SFPAX's 3.81% expense ratio.
Dividends
VFAIX vs. SFPAX - Dividend Comparison
VFAIX's dividend yield for the trailing twelve months is around 1.67%, while SFPAX has not paid dividends to shareholders.
| 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% |
VFAIX Vanguard Financials Index Fund Admiral Shares | 1.67% | 1.56% | 1.75% | 2.08% | 2.31% | 2.62% | 2.21% | 2.17% | 2.30% | 1.54% | 1.64% | 2.00% |
Frequently Asked Questions
VFAIX and SFPAX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFAIX has higher volatility (4.07%) compared to SFPAX (0.00%). In terms of maximum drawdown, VFAIX dropped -78.64% vs SFPAX's -71.98%.
VFAIX currently has the higher Sharpe Ratio (0.73 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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