ACAAX vs. ABLOX

Last updated Jun 4, 2026

ACAAX (Alger Capital Appreciation Fund) and ABLOX (Alger Balanced Portfolio Fund) are both mutual funds - ACAAX is a Large Cap Growth Equities fund managed by Alger, while ABLOX is a Diversified Portfolio fund managed by Alger. Over the past 10 years, ACAAX returned 19.68%/yr vs 10.97%/yr for ABLOX. Their correlation of 0.91 suggests significant overlap in exposure. ACAAX charges 1.15%/yr vs 1.04%/yr for ABLOX.

Performance

ACAAX vs. ABLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Capital Appreciation Fund (ACAAX) and Alger Balanced Portfolio Fund (ABLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACAAX achieves a 15.50% return, which is significantly higher than ABLOX's 10.77% return. Over the past 10 years, ACAAX has outperformed ABLOX with an annualized return of 19.68%, while ABLOX has yielded a comparatively lower 10.97% annualized return.

ACAAX

• 1D: -0.43%
• 1M: 9.17%
• YTD: 15.50%
• 6M: 15.01%
• 1Y: 42.75%
• 3Y*: 37.43%
• 5Y*: 18.17%
• 10Y*: 19.68%

ABLOX

• 1D: 0.48%
• 1M: 3.95%
• YTD: 10.77%
• 6M: 9.85%
• 1Y: 26.86%
• 3Y*: 17.97%
• 5Y*: 11.46%
• 10Y*: 10.97%

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

ACAAX vs. ABLOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACAAX Alger Capital Appreciation Fund	15.50%	30.80%	49.55%	42.99%	-36.90%	18.17%	41.78%	33.14%	-0.95%	31.31%
ABLOX Alger Balanced Portfolio Fund	10.77%	16.03%	17.06%	17.44%	-11.40%	19.17%	10.23%	19.50%	-3.31%	15.46%

Correlation

The correlation between ACAAX and ABLOX 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 (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.91

The correlation between ACAAX and ABLOX shifts across timeframes, from 0.75 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ACAAX vs. ABLOX — Risk / Return Rank

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

ACAAX

ACAAX Risk / Return Rank: 41
ACAAX Sharpe Ratio Rank: 51
ACAAX Sortino Ratio Rank: 42
ACAAX Omega Ratio Rank: 42
ACAAX Calmar Ratio Rank: 37
ACAAX Martin Ratio Rank: 33

ABLOX

ABLOX Risk / Return Rank: 89
ABLOX Sharpe Ratio Rank: 90
ABLOX Sortino Ratio Rank: 88
ABLOX Omega Ratio Rank: 83
ABLOX Calmar Ratio Rank: 89
ABLOX 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.

ACAAX vs. ABLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Fund (ACAAX) and Alger Balanced Portfolio Fund (ABLOX). 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.

	ACAAX	ABLOX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.99	-0.87
Sortino ratio: Return per unit of downside risk	2.73	4.25	-1.52
Omega ratio: Gain probability vs. loss probability	1.35	1.56	-0.21
Calmar ratio: Return relative to maximum drawdown	2.32	4.47	-2.16
Martin ratio: Return relative to average drawdown	7.47	20.54	-13.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ACAAX vs. ABLOX - Sharpe Ratio Comparison

The current ACAAX Sharpe Ratio is 2.12, which is comparable to the ABLOX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of ACAAX and ABLOX, 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

	ACAAX	ABLOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.99	-0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.95	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.93	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.50	+0.02

Drawdowns

ACAAX vs. ABLOX - Drawdown Comparison

The maximum ACAAX drawdown since its inception was -70.29%, which is greater than ABLOX's maximum drawdown of -43.31%. Use the drawdown chart below to compare losses from any high point for ACAAX and ABLOX.

Drawdown Indicators

	ACAAX	ABLOX	Difference
Max Drawdown Largest peak-to-trough decline	-70.29%	-43.31%	-26.98%
Max Drawdown (1Y) Largest decline over 1 year	-19.11%	-6.15%	-12.96%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-13.15%	-14.64%
Max Drawdown (5Y) Largest decline over 5 years	-48.73%	-17.34%	-31.39%
Max Drawdown (10Y) Largest decline over 10 years	-48.73%	-22.96%	-25.77%
Current Drawdown Current decline from peak	-0.43%	0.00%	-0.43%
Average Drawdown Average peak-to-trough decline	-22.96%	-6.88%	-16.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	1.34%	+4.58%

Volatility

ACAAX vs. ABLOX - Volatility Comparison

Alger Capital Appreciation Fund (ACAAX) has a higher volatility of 4.96% compared to Alger Balanced Portfolio Fund (ABLOX) at 2.55%. This indicates that ACAAX's price experiences larger fluctuations and is considered to be riskier than ABLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACAAX	ABLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.96%	2.55%	+2.41%
Volatility (6M) Calculated over the trailing 6-month period	15.78%	7.19%	+8.59%
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	9.20%	+11.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.89%	12.17%	+16.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.40%	11.90%	+13.50%

ACAAX vs. ABLOX - Expense Ratio Comparison

ACAAX has a 1.15% expense ratio, which is higher than ABLOX's 1.04% expense ratio.

Dividends

ACAAX vs. ABLOX - Dividend Comparison

ACAAX's dividend yield for the trailing twelve months is around 8.48%, less than ABLOX's 12.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ABLOX Alger Balanced Portfolio Fund	12.38%	13.72%	0.18%	1.72%	5.99%	3.65%	1.55%	3.95%	21.77%	2.83%	0.00%	2.12%
ACAAX Alger Capital Appreciation Fund	8.48%	9.80%	12.93%	7.19%	4.42%	23.67%	15.64%	8.17%	11.59%	6.76%	0.84%	8.28%

Frequently Asked Questions

Can I hold both ACAAX and ABLOX in my portfolio?

ACAAX and ABLOX 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, ACAAX or ABLOX?

ACAAX has higher volatility (4.96%) compared to ABLOX (2.55%). In terms of maximum drawdown, ACAAX dropped -70.29% vs ABLOX's -43.31%.

Which has better risk-adjusted returns?

ABLOX currently has the higher Sharpe Ratio (2.99 vs 2.12), 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.