AAIZX vs. BOGSX

Last updated Jun 5, 2026

AAIZX (Alger AI Enablers & Adopters Z) and BOGSX (Black Oak Emerging Technology Fund) are both Technology Equities funds. Over the past year, AAIZX returned 61.88% vs 62.18% for BOGSX. A 0.77 correlation means they provide meaningful diversification when combined. AAIZX charges 0.55%/yr vs 1.03%/yr for BOGSX.

Performance

AAIZX vs. BOGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger AI Enablers & Adopters Z (AAIZX) and Black Oak Emerging Technology Fund (BOGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAIZX achieves a 26.36% return, which is significantly lower than BOGSX's 43.19% return.

AAIZX

• 1D: -1.31%
• 1M: 11.39%
• YTD: 26.36%
• 6M: 25.19%
• 1Y: 61.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOGSX

• 1D: 0.00%
• 1M: 13.74%
• YTD: 43.19%
• 6M: 42.16%
• 1Y: 62.18%
• 3Y*: 25.08%
• 5Y*: 13.51%
• 10Y*: 17.86%

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

AAIZX vs. BOGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AAIZX Alger AI Enablers & Adopters Z	26.36%	41.00%	33.76%
BOGSX Black Oak Emerging Technology Fund	43.19%	19.06%	3.87%

Correlation

The correlation between AAIZX and BOGSX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024	0.77

The correlation between AAIZX and BOGSX has been stable across timeframes, ranging from 0.75 to 0.77 - a consistent structural relationship.

Return for Risk

AAIZX vs. BOGSX — Risk / Return Rank

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

AAIZX

AAIZX Risk / Return Rank: 72
AAIZX Sharpe Ratio Rank: 87
AAIZX Sortino Ratio Rank: 69
AAIZX Omega Ratio Rank: 65
AAIZX Calmar Ratio Rank: 81
AAIZX Martin Ratio Rank: 56

BOGSX

BOGSX Risk / Return Rank: 85
BOGSX Sharpe Ratio Rank: 89
BOGSX Sortino Ratio Rank: 76
BOGSX Omega Ratio Rank: 72
BOGSX Calmar Ratio Rank: 95
BOGSX Martin Ratio Rank: 93

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.

AAIZX vs. BOGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters Z (AAIZX) and Black Oak Emerging Technology Fund (BOGSX). 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.

	AAIZX	BOGSX	Difference
Sharpe ratio: Return per unit of total volatility	2.86	2.93	-0.06
Sortino ratio: Return per unit of downside risk	3.46	3.65	-0.20
Omega ratio: Gain probability vs. loss probability	1.45	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	3.66	5.68	-2.02
Martin ratio: Return relative to average drawdown	11.13	19.50	-8.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAIZX vs. BOGSX - Sharpe Ratio Comparison

The current AAIZX Sharpe Ratio is 2.86, which is comparable to the BOGSX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of AAIZX and BOGSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AAIZX	BOGSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.86	2.93	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.54	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.84	0.11	+1.73

Drawdowns

AAIZX vs. BOGSX - Drawdown Comparison

The maximum AAIZX drawdown since its inception was -29.00%, smaller than the maximum BOGSX drawdown of -92.80%. Use the drawdown chart below to compare losses from any high point for AAIZX and BOGSX.

Drawdown Indicators

	AAIZX	BOGSX	Difference
Max Drawdown Largest peak-to-trough decline	-29.00%	-92.80%	+63.80%
Max Drawdown (1Y) Largest decline over 1 year	-17.47%	-11.04%	-6.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.93%	—
Current Drawdown Current decline from peak	-1.31%	0.00%	-1.31%
Average Drawdown Average peak-to-trough decline	-4.99%	-58.95%	+53.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	3.21%	+2.52%

Volatility

AAIZX vs. BOGSX - Volatility Comparison

The current volatility for Alger AI Enablers & Adopters Z (AAIZX) is 5.56%, while Black Oak Emerging Technology Fund (BOGSX) has a volatility of 6.72%. This indicates that AAIZX experiences smaller price fluctuations and is considered to be less risky than BOGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAIZX	BOGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.56%	6.72%	-1.16%
Volatility (6M) Calculated over the trailing 6-month period	16.82%	16.72%	+0.10%
Volatility (1Y) Calculated over the trailing 1-year period	22.35%	21.46%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.44%	25.21%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.44%	24.60%	+2.84%

AAIZX vs. BOGSX - Expense Ratio Comparison

AAIZX has a 0.55% expense ratio, which is lower than BOGSX's 1.03% expense ratio.

Dividends

AAIZX vs. BOGSX - Dividend Comparison

AAIZX's dividend yield for the trailing twelve months is around 5.00%, more than BOGSX's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIZX Alger AI Enablers & Adopters Z	5.00%	6.31%	4.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BOGSX Black Oak Emerging Technology Fund	4.02%	5.76%	7.96%	3.79%	1.87%	11.31%	6.30%	5.47%	11.71%	7.71%	4.00%	3.09%

Frequently Asked Questions

Can I hold both AAIZX and BOGSX in my portfolio?

AAIZX and BOGSX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAIZX or BOGSX?

BOGSX has higher volatility (6.72%) compared to AAIZX (5.56%). In terms of maximum drawdown, AAIZX dropped -29.00% vs BOGSX's -92.80%.

Which has better risk-adjusted returns?

BOGSX currently has the higher Sharpe Ratio (2.93 vs 2.86), 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.