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.
Key characteristics
ACAAX | SPY | |
---|---|---|
YTD Return | 26.51% | 18.22% |
1Y Return | 37.19% | 25.53% |
3Y Return (Ann) | 4.32% | 8.90% |
5Y Return (Ann) | 16.01% | 15.65% |
10Y Return (Ann) | 11.12% | 12.78% |
Sharpe Ratio | 1.72 | 2.12 |
Daily Std Dev | 22.21% | 12.30% |
Max Drawdown | -78.16% | -55.19% |
Current Drawdown | -6.03% | -1.15% |
Correlation
The correlation between ACAAX and SPY is 0.87, 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.
Performance
ACAAX vs. SPY - Performance Comparison
In the year-to-date period, ACAAX achieves a 26.51% return, which is significantly higher than SPY's 18.22% return. Over the past 10 years, ACAAX has underperformed SPY with an annualized return of 11.12%, while SPY has yielded a comparatively higher 12.78% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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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 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.
Dividends
ACAAX vs. SPY - Dividend Comparison
ACAAX's dividend yield for the trailing twelve months is around 5.68%, more than SPY's 1.23% yield.
TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
ACAAX Alger Capital Appreciation Fund | 5.68% | 7.19% | 4.42% | 23.67% | 15.64% | 8.17% | 11.59% | 6.76% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.23% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
ACAAX vs. SPY - Drawdown Comparison
The maximum ACAAX drawdown since its inception was -78.16%, 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. For additional features, visit the drawdowns tool.
Volatility
ACAAX vs. SPY - Volatility Comparison
Alger Capital Appreciation Fund (ACAAX) has a higher volatility of 7.88% compared to SPDR S&P 500 ETF (SPY) at 5.60%. 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.