Alger MidCap Growth Institutional Fund (ALMRX)

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The chart shows the growth of an initial investment of $10,000 in Alger MidCap Growth Institutional Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Alger MidCap Growth Institutional Fund (ALMRX) has returned -11.69% so far this year and 14.51% over the past 12 months. Over the last ten years, ALMRX has returned 10.96% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 3, 1994, ALMRX's average daily return is +0.09%, while the average monthly return is +1.39%. At this rate, your investment would double in approximately 4.2 years.

Historically, 62% of months were positive and 38% were negative. The best month was Jun 1997 with a return of +199.7%, while the worst month was Jul 1998 at -29.4%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.

On a daily basis, ALMRX closed higher 46% of trading days. The best single day was Jun 24, 1997 with a return of +363.3%, while the worst single day was Dec 16, 2021 at -44.9%.

Alger MidCap Growth Institutional Fund has an annualized alpha of 17.58%, beta of 0.61, and R² of 0.03 versus S&P 500 Index. Calculated based on daily prices since January 04, 1994.

• This fund captured 131.43% of S&P 500 Index gains and 114.59% of its losses — amplifying both gains and losses, but participating more in upside than downside.
• Beta of 0.61 may look defensive, but with R² of 0.03 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R² of 0.03 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

ALMRX has a high expense ratio of 1.44%, indicating above-average management fees.

ALMRX ranks 22 for risk / return — below 22% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Alger MidCap Growth Institutional Fund (ALMRX) and compare them to a chosen benchmark (S&P 500 Index).

Alger MidCap Growth Institutional Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.

The table displays the monthly dividend distributions for Alger MidCap Growth Institutional Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Alger MidCap Growth Institutional Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Alger MidCap Growth Institutional Fund was 73.80%, occurring on Nov 21, 2008. Recovery took 1596 trading sessions.

The current Alger MidCap Growth Institutional Fund drawdown is 42.96%.

The chart below shows the rolling one-month volatility.