AAGOX vs. AAIZX

Last updated Jun 24, 2026

AAGOX (Alger Large Cap Growth Portfolio Fund) and AAIZX (Alger AI Enablers & Adopters Z) are both mutual funds - AAGOX is a Large Cap Growth Equities fund managed by Alger, while AAIZX is a Technology Equities fund actively managed by Alger. Over the past year, AAGOX returned 50.68% vs 59.91% for AAIZX. With a 0.97 correlation, they move nearly in lockstep. AAGOX charges 0.82%/yr vs 0.55%/yr for AAIZX.

Performance

AAGOX vs. AAIZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Large Cap Growth Portfolio Fund (AAGOX) and Alger AI Enablers & Adopters Z (AAIZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAGOX achieves a 24.36% return, which is significantly lower than AAIZX's 26.65% return.

AAGOX

• 1D: -1.48%
• 1M: 6.76%
• YTD: 24.36%
• 6M: 21.81%
• 1Y: 50.68%
• 3Y*: 35.40%
• 5Y*: 13.73%
• 10Y*: 20.41%

AAIZX

• 1D: -1.53%
• 1M: 5.71%
• YTD: 26.65%
• 6M: 24.42%
• 1Y: 59.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AAGOX vs. AAIZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AAGOX Alger Large Cap Growth Portfolio Fund	24.36%	29.82%	24.06%
AAIZX Alger AI Enablers & Adopters Z	26.65%	41.00%	33.76%

Correlation

The correlation between AAGOX and AAIZX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024	0.97

The correlation between AAGOX and AAIZX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

AAGOX vs. AAIZX — Risk / Return Rank

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

AAGOX

AAGOX Risk / Return Rank: 51
AAGOX Sharpe Ratio Rank: 57
AAGOX Sortino Ratio Rank: 47
AAGOX Omega Ratio Rank: 46
AAGOX Calmar Ratio Rank: 62
AAGOX Martin Ratio Rank: 45

AAIZX

AAIZX Risk / Return Rank: 71
AAIZX Sharpe Ratio Rank: 85
AAIZX Sortino Ratio Rank: 68
AAIZX Omega Ratio Rank: 65
AAIZX Calmar Ratio Rank: 81
AAIZX Martin Ratio Rank: 55

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.

AAGOX vs. AAIZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Large Cap Growth Portfolio Fund (AAGOX) and Alger AI Enablers & Adopters Z (AAIZX). 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.

	AAGOX	AAIZX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	2.57	-0.51
Sortino ratio: Return per unit of downside risk	2.65	3.13	-0.48
Omega ratio: Gain probability vs. loss probability	1.34	1.41	-0.07
Calmar ratio: Return relative to maximum drawdown	2.89	3.52	-0.64
Martin ratio: Return relative to average drawdown	8.94	10.52	-1.58

AAGOX vs. AAIZX - Sharpe Ratio Comparison

The current AAGOX Sharpe Ratio is 2.06, which is comparable to the AAIZX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of AAGOX and AAIZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAGOX vs. AAIZX - Drawdown Comparison

The maximum AAGOX drawdown since its inception was -60.22%, which is greater than AAIZX's maximum drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for AAGOX and AAIZX.

Drawdown Indicators

	AAGOX	AAIZX	Difference
Max Drawdown Largest peak-to-trough decline	-60.22%	-29.00%	-31.22%
Max Drawdown (1Y) Largest decline over 1 year	-18.11%	-17.47%	-0.64%
Max Drawdown (3Y) Largest decline over 3 years	-27.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.07%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.07%	—	—
Current Drawdown Current decline from peak	-1.48%	-1.53%	+0.05%
Average Drawdown Average peak-to-trough decline	-15.69%	-4.96%	-10.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.84%	5.84%	0.00%

Volatility

AAGOX vs. AAIZX - Volatility Comparison

Alger Large Cap Growth Portfolio Fund (AAGOX) has a higher volatility of 10.64% compared to Alger AI Enablers & Adopters Z (AAIZX) at 10.07%. This indicates that AAGOX's price experiences larger fluctuations and is considered to be riskier than AAIZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAGOX	AAIZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.64%	10.07%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	19.84%	18.62%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	25.43%	24.00%	+1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.42%	27.83%	-1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.88%	27.83%	-2.95%

AAGOX vs. AAIZX - Expense Ratio Comparison

AAGOX has a 0.82% expense ratio, which is higher than AAIZX's 0.55% expense ratio.

Dividends

AAGOX vs. AAIZX - Dividend Comparison

AAGOX's dividend yield for the trailing twelve months is around 9.74%, more than AAIZX's 4.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAGOX Alger Large Cap Growth Portfolio Fund	9.74%	12.11%	0.00%	0.00%	5.91%	28.74%	14.75%	1.88%	22.68%	9.81%	0.00%	12.42%
AAIZX Alger AI Enablers & Adopters Z	4.98%	6.31%	4.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAGOX and AAIZX in my portfolio?

With a correlation of 0.96, AAGOX and AAIZX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AAGOX or AAIZX?

AAGOX has higher volatility (10.64%) compared to AAIZX (10.07%). In terms of maximum drawdown, AAGOX dropped -60.22% vs AAIZX's -29.00%.

Which has better risk-adjusted returns?

AAIZX currently has the higher Sharpe Ratio (2.57 vs 2.06), 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.