Correlation
The correlation between ACAAX and SPY is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
ACAAX vs. SPY
Compare and contrast key facts about Alger Capital Appreciation Fund (ACAAX) and SPDR S&P 500 ETF (SPY).
ACAAX is managed by Alger. It was launched on Dec 31, 1996. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ACAAX or SPY.
Performance
ACAAX vs. SPY - Performance Comparison
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Key characteristics
ACAAX:
0.92
SPY:
0.70
ACAAX:
1.29
SPY:
1.02
ACAAX:
1.18
SPY:
1.15
ACAAX:
0.91
SPY:
0.68
ACAAX:
2.82
SPY:
2.57
ACAAX:
9.00%
SPY:
4.93%
ACAAX:
30.62%
SPY:
20.42%
ACAAX:
-70.29%
SPY:
-55.19%
ACAAX:
-4.36%
SPY:
-3.55%
Returns By Period
In the year-to-date period, ACAAX achieves a 3.72% return, which is significantly higher than SPY's 0.87% return. Over the past 10 years, ACAAX has outperformed SPY with an annualized return of 14.89%, while SPY has yielded a comparatively lower 12.73% annualized return.
ACAAX
3.72%
15.35%
3.72%
27.80%
24.72%
16.63%
14.89%
SPY
0.87%
6.28%
-1.56%
14.21%
14.25%
15.81%
12.73%
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ACAAX vs. SPY - Expense Ratio Comparison
ACAAX has a 1.15% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
ACAAX vs. SPY — Risk-Adjusted Performance Rank
ACAAX
SPY
ACAAX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Fund (ACAAX) and SPDR S&P 500 ETF (SPY). 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.
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Dividends
ACAAX vs. SPY - Dividend Comparison
ACAAX's dividend yield for the trailing twelve months is around 12.47%, more than SPY's 1.22% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACAAX Alger Capital Appreciation Fund | 12.47% | 12.93% | 7.19% | 4.42% | 23.67% | 15.64% | 8.17% | 11.59% | 6.76% | 0.84% | 8.28% | 15.73% |
SPY SPDR S&P 500 ETF | 1.22% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% |
Drawdowns
ACAAX vs. SPY - Drawdown Comparison
The maximum ACAAX drawdown since its inception was -70.29%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ACAAX and SPY.
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Volatility
ACAAX vs. SPY - Volatility Comparison
Alger Capital Appreciation Fund (ACAAX) has a higher volatility of 6.92% compared to SPDR S&P 500 ETF (SPY) at 4.86%. This indicates that ACAAX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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