SHPAX Performance — Saratoga Health & Biotechnology Portfolio, Health & Biotechnology Class A
Data updated: 2026-07-24
SHPAX returned −0.94% year to date and +15.34% over one year to May 2026. Annualised returns are +8.01% over 3 years and +5.01% over 5 years. The fund trailed its Health Care Equity category average: $100 invested three years ago grew to $126, against $131 for the category, and to $115 over one year, against $129. Volatility over the past three years was 12.74% a year. In the 12 months to May 2026 the fund lost a net $735K, and assets reached $10.48M.
SHPAX Growth of $100
What $100 invested in Saratoga Health & Biotechnology Portfolio grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Health Care Equity category average over the same months.
| Period | SHPAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $115 | $129 |
| 3 years (Jun 2023 – May 2026) | $126 | $131 |
| 5 years (Jun 2021 – May 2026) | $128 | $116 |
| Since data start (Mar 2020 – May 2026) | $156 | $161 |
SHPAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | −0.94% |
| 1 year | +15.34% |
| 3 years (annualised) | +8.01% |
| 5 years (annualised) | +5.01% |
SHPAX Annual Returns
Calendar-year total returns of Saratoga Health & Biotechnology Portfolio, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | −0.94% |
| 2025 | +17.55% |
| 2024 | +0.27% |
| 2023 | −0.35% |
| 2022 | +2.01% |
| 2021 | +16.70% |
| 2020 (Mar–Dec) | +12.34% |
SHPAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +1.6% | +4.6% | −5.3% | −2.1% | +0.5% | — | — | — | — | — | — | — |
| 2025 | +5.6% | −0.4% | −1.6% | −1.1% | −1.4% | +1.7% | −4.2% | +3.3% | +3.7% | +4.5% | +9.4% | −2.4% |
| 2024 | +2.3% | +1.0% | +2.3% | −4.8% | +3.2% | +1.5% | +5.0% | +3.7% | −3.5% | −3.4% | +1.3% | −7.4% |
| 2023 | −1.5% | −5.2% | +1.7% | +2.8% | −5.3% | +4.2% | +0.6% | −0.7% | −2.2% | −3.0% | +5.2% | +3.8% |
| 2022 | −5.3% | −0.8% | +6.2% | −3.8% | +1.2% | −3.7% | +3.0% | −4.0% | −3.9% | +12.7% | +4.3% | −2.2% |
| 2021 | +1.0% | −1.2% | +4.7% | +4.3% | −0.4% | +2.8% | +2.5% | +1.7% | −5.7% | +4.4% | −6.5% | +9.0% |
| 2020 | — | — | −5.1% | +9.4% | +4.2% | −3.7% | +1.6% | +1.1% | −2.4% | −4.1% | +8.5% | +3.2% |
SHPAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 12.74%
- 3-year Sharpe ratio: 0.28 (vs 4.5% risk-free rate)
- Best month: +9.38% (Nov 2025)
- Worst month: −7.39% (Dec 2024)
SHPAX Fund Flows
Monthly money in and out of Saratoga Health & Biotechnology Portfolio, from SEC Form N-PORT.
- 12-month net flow: −$735K
- 12-month gross sales (incl. reinvestments): $772K
- Sales ÷ redemptions: 0.51×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $2K | $45K | −$43K |
| Apr 2026 | $2K | $157K | −$156K |
| Mar 2026 | $9K | $161K | −$152K |
| Feb 2026 | $2K | $108K | −$106K |
| Jan 2026 | $5K | $166K | −$161K |
| Dec 2025 | $510K | $151K | $358K |
| Nov 2025 | $50K | $72K | −$23K |
| Oct 2025 | $53K | $113K | −$60K |
| Sep 2025 | $8K | $115K | −$107K |
| Aug 2025 | $60K | $101K | −$41K |
| Jul 2025 | $5K | $192K | −$187K |
| Jun 2025 | $67K | $123K | −$56K |
SHPAX Assets Under Management
Net assets of Saratoga Health & Biotechnology Portfolio by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $10.48M |
| 2026-02-28 | $11.61M |
| 2025-11-30 | $11.46M |
| 2025-08-31 | $9.85M |
| 2025-05-31 | $10.07M |
| 2025-02-28 | $10.84M |
| 2024-11-30 | $11.89M |
| 2024-08-31 | $13.16M |
| 2024-05-31 | $11.94M |
| 2024-02-29 | $12.09M |
| 2023-11-30 | $11.57M |
| 2023-08-31 | $11.75M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.