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Alger Small Cap Focus Fund (AOFIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 11, 2026

The investment seeks long-term capital appreciation. The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index with the highest capitalization, and (2) the company in either index with the lowest capitalization, at any time during the most recent 12-month period as reported by either index. Both indexes are broad-based indexes of small capitalization stocks.

Looking to diversify beyond AOFIX? The mutual funds below have the lowest correlation with AOFIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from AOFIX.

Best Diversifiers for AOFIX

0 mutual funds have low correlation with AOFIX (below 0.3), 0 of which are negatively correlated. The least correlated is Federated Hermes MDT Small Cap Growth Fund (QISGX) (Small Cap Growth Equities) with a 1Y correlation of 0.38, down from 0.75 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
QISGX
Federated Hermes MDT Small Cap Growth Fund0.380.610.75
80
Small Cap Growth EquitiesAOFIX vs QISGX
CDDYX
Columbia Dividend Income Fund Institutional 3 Clas...0.490.570.62
86
Large Cap Value Equities, DividendAOFIX vs CDDYX
SGIIX
First Eagle Global Fund Class I0.550.610.65
54
Global EquitiesAOFIX vs SGIIX
ODVIX
Invesco Developing Markets Fund Class R60.590.570.59
66
Emerging Markets EquitiesAOFIX vs ODVIX
FSELX
Fidelity Select Semiconductors Portfolio0.650.660.69
92
Semiconductors, Technology EquitiesAOFIX vs FSELX
See all 24 diversifiers for AOFIX

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Diversification Analysis

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