AAIZX vs. NWJCX

Last updated Jun 23, 2026

AAIZX (Alger AI Enablers & Adopters Z) and NWJCX (Nationwide NYSE Arca Tech 100 Index Fund) are both Technology Equities funds. Over the past year, AAIZX returned 63.75% vs 48.72% for NWJCX. A 0.78 correlation means they provide meaningful diversification when combined. AAIZX charges 0.55%/yr vs 0.65%/yr for NWJCX.

Performance

AAIZX vs. NWJCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger AI Enablers & Adopters Z (AAIZX) and Nationwide NYSE Arca Tech 100 Index Fund (NWJCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AAIZX having a 28.62% return and NWJCX slightly lower at 28.26%.

AAIZX

• 1D: 2.49%
• 1M: 7.35%
• YTD: 28.62%
• 6M: 27.00%
• 1Y: 63.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

NWJCX

• 1D: 1.83%
• 1M: 6.63%
• YTD: 28.26%
• 6M: 26.64%
• 1Y: 48.72%
• 3Y*: 29.42%
• 5Y*: 17.52%
• 10Y*: 19.97%

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

AAIZX vs. NWJCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AAIZX Alger AI Enablers & Adopters Z	28.62%	41.00%	33.76%
NWJCX Nationwide NYSE Arca Tech 100 Index Fund	28.26%	19.96%	9.16%

Correlation

The correlation between AAIZX and NWJCX 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 8, 2024	0.78

The correlation between AAIZX and NWJCX has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

AAIZX vs. NWJCX — 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: 70
AAIZX Omega Ratio Rank: 67
AAIZX Calmar Ratio Rank: 82
AAIZX Martin Ratio Rank: 56

NWJCX

NWJCX Risk / Return Rank: 81
NWJCX Sharpe Ratio Rank: 82
NWJCX Sortino Ratio Rank: 70
NWJCX Omega Ratio Rank: 68
NWJCX Calmar Ratio Rank: 93
NWJCX Martin Ratio Rank: 92

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. NWJCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters Z (AAIZX) and Nationwide NYSE Arca Tech 100 Index Fund (NWJCX). 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.

	AAIZX	NWJCX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.46	+0.15
Sortino ratio: Return per unit of downside risk	3.18	3.16	+0.01
Omega ratio: Gain probability vs. loss probability	1.41	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	3.58	4.74	-1.16
Martin ratio: Return relative to average drawdown	10.68	17.82	-7.14

AAIZX vs. NWJCX - Sharpe Ratio Comparison

The current AAIZX Sharpe Ratio is 2.61, which is comparable to the NWJCX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of AAIZX and NWJCX, 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

AAIZX vs. NWJCX - Drawdown Comparison

The maximum AAIZX drawdown since its inception was -29.00%, smaller than the maximum NWJCX drawdown of -31.31%. Use the drawdown chart below to compare losses from any high point for AAIZX and NWJCX.

Drawdown Indicators

	AAIZX	NWJCX	Difference
Max Drawdown Largest peak-to-trough decline	-29.00%	-31.31%	+2.31%
Max Drawdown (1Y) Largest decline over 1 year	-17.47%	-10.18%	-7.29%
Max Drawdown (3Y) Largest decline over 3 years	—	-21.21%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-31.31%	—
Current Drawdown Current decline from peak	0.00%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	-4.97%	-5.10%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.84%	2.70%	+3.14%

Volatility

AAIZX vs. NWJCX - Volatility Comparison

Alger AI Enablers & Adopters Z (AAIZX) has a higher volatility of 9.98% compared to Nationwide NYSE Arca Tech 100 Index Fund (NWJCX) at 9.33%. This indicates that AAIZX's price experiences larger fluctuations and is considered to be riskier than NWJCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAIZX	NWJCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.98%	9.33%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	18.79%	16.62%	+2.17%
Volatility (1Y) Calculated over the trailing 1-year period	23.92%	19.63%	+4.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.83%	21.82%	+6.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.83%	21.63%	+6.20%

AAIZX vs. NWJCX - Expense Ratio Comparison

AAIZX has a 0.55% expense ratio, which is lower than NWJCX's 0.65% expense ratio.

Dividends

AAIZX vs. NWJCX - Dividend Comparison

AAIZX's dividend yield for the trailing twelve months is around 4.91%, more than NWJCX's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIZX Alger AI Enablers & Adopters Z	4.91%	6.31%	4.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
NWJCX Nationwide NYSE Arca Tech 100 Index Fund	3.35%	4.27%	31.15%	11.59%	17.83%	8.74%	5.04%	1.98%	2.59%	3.94%	0.74%	0.64%

Frequently Asked Questions

Can I hold both AAIZX and NWJCX in my portfolio?

AAIZX and NWJCX 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 NWJCX?

AAIZX has higher volatility (9.98%) compared to NWJCX (9.33%). In terms of maximum drawdown, AAIZX dropped -29.00% vs NWJCX's -31.31%.

Which has better risk-adjusted returns?

AAIZX currently has the higher Sharpe Ratio (2.61 vs 2.46), 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.