ACAAX vs. VTMGX

Last updated Aug 1, 2026

ACAAX (Alger Capital Appreciation Fund) and VTMGX (Vanguard Developed Markets Index Fund Admiral Shares) are both mutual funds - ACAAX is a Large Cap Growth Equities fund managed by Alger, while VTMGX is a Foreign Large Cap Equities fund tracking the FTSE Developed All Cap ex US Index. Over the past 10 years, ACAAX returned 18.41%/yr vs 10.04%/yr for VTMGX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. ACAAX charges 1.15%/yr vs 0.07%/yr for VTMGX.

Performance

ACAAX vs. VTMGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Capital Appreciation Fund (ACAAX) and Vanguard Developed Markets Index Fund Admiral Shares (VTMGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACAAX achieves a 7.22% return, which is significantly lower than VTMGX's 14.59% return. Over the past 10 years, ACAAX has outperformed VTMGX with an annualized return of 18.41%, while VTMGX has yielded a comparatively lower 10.04% annualized return.

ACAAX

• 1D: 4.66%
• 1M: -3.07%
• 6M: 9.41%
• YTD: 7.22%
• 1Y: 20.44%
• 3Y*: 31.02%
• 5Y*: 14.30%
• 10Y*: 18.41%
• ALL TIME*: 12.10%

VTMGX

• 1D: 3.12%
• 1M: 0.75%
• 6M: 8.12%
• YTD: 14.59%
• 1Y: 30.61%
• 3Y*: 17.88%
• 5Y*: 9.89%
• 10Y*: 10.04%
• ALL TIME*: 5.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ACAAX Alger Capital Appreciation Fund	$0.00	$0.00	$0.00
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	$0.00	$0.00	$0.00

ACAAX vs. VTMGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACAAX Alger Capital Appreciation Fund	7.22%	30.80%	49.55%	42.99%	-36.90%	18.17%	41.78%	33.14%	-0.95%	31.31%
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	14.59%	35.17%	3.03%	17.65%	-15.33%	11.39%	10.25%	22.04%	-14.48%	26.39%

Correlation

The correlation between ACAAX and VTMGX is 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.63
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.68
Correlation (All Time) Calculated using the full available price history since Aug 17, 1999	0.67

The correlation between ACAAX and VTMGX has been stable across timeframes, ranging from 0.58 to 0.68 - a consistent structural relationship.

Return for Risk

ACAAX vs. VTMGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ACAAX

ACAAX Risk / Return Rank: 23
ACAAX Sharpe Ratio Rank: 24
ACAAX Sortino Ratio Rank: 25
ACAAX Omega Ratio Rank: 24
ACAAX Calmar Ratio Rank: 22
ACAAX Martin Ratio Rank: 22

VTMGX

VTMGX Risk / Return Rank: 76
VTMGX Sharpe Ratio Rank: 77
VTMGX Sortino Ratio Rank: 73
VTMGX Omega Ratio Rank: 74
VTMGX Calmar Ratio Rank: 78
VTMGX Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ACAAX vs. VTMGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Fund (ACAAX) and Vanguard Developed Markets Index Fund Admiral Shares (VTMGX). 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.

	ACAAX	VTMGX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.75	-0.93
Sortino ratio: Return per unit of downside risk	1.25	2.40	-1.15
Omega ratio: Gain probability vs. loss probability	1.15	1.32	-0.17
Calmar ratio: Return relative to maximum drawdown	1.01	2.51	-1.50
Martin ratio: Return relative to average drawdown	3.04	9.35	-6.31

ACAAX vs. VTMGX - Sharpe Ratio Comparison

The current ACAAX Sharpe Ratio is 0.81, which is lower than the VTMGX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of ACAAX and VTMGX, 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

ACAAX vs. VTMGX - Drawdown Comparison

The maximum ACAAX drawdown since its inception was -70.29%, which is greater than VTMGX's maximum drawdown of -60.58%. Use the drawdown chart below to compare losses from any high point for ACAAX and VTMGX.

Drawdown Indicators

	ACAAX	VTMGX	Difference
Max Drawdown Largest peak-to-trough decline	-70.29%	-60.58%	-9.71%
Max Drawdown (1Y) Largest decline over 1 year	-19.11%	-11.67%	-7.44%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-13.18%	-14.61%
Max Drawdown (5Y) Largest decline over 5 years	-48.73%	-29.71%	-19.02%
Max Drawdown (10Y) Largest decline over 10 years	-48.73%	-35.68%	-13.05%
Current Drawdown Current decline from peak	-7.56%	-1.68%	-5.88%
Average Drawdown Average peak-to-trough decline	-22.87%	-14.58%	-8.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.32%	3.13%	+3.19%

Volatility

ACAAX vs. VTMGX - Volatility Comparison

Alger Capital Appreciation Fund (ACAAX) has a higher volatility of 7.92% compared to Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) at 5.76%. This indicates that ACAAX's price experiences larger fluctuations and is considered to be riskier than VTMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ACAAX	VTMGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	5.76%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	18.81%	14.78%	+4.03%
Volatility (1Y) Calculated over the trailing 1-year period	23.74%	16.81%	+6.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.36%	16.20%	+13.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.62%	16.41%	+9.21%

ACAAX vs. VTMGX - Expense Ratio Comparison

ACAAX has a 1.15% expense ratio, which is higher than VTMGX's 0.07% expense ratio.

Dividends

ACAAX vs. VTMGX - Dividend Comparison

ACAAX's dividend yield for the trailing twelve months is around 9.14%, more than VTMGX's 2.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACAAX Alger Capital Appreciation Fund	9.14%	9.80%	12.93%	7.19%	4.42%	23.67%	15.64%	8.17%	11.59%	6.76%	0.84%	8.28%
VTMGX Vanguard Developed Markets Index Fund Admiral Shares	2.53%	3.20%	3.34%	3.14%	2.88%	3.14%	2.02%	3.03%	3.33%	2.77%	3.06%	2.91%

Frequently Asked Questions

Can I hold both ACAAX and VTMGX in my portfolio?

ACAAX and VTMGX have a correlation of 0.63, 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 VTMGX?

ACAAX has higher volatility (7.92%) compared to VTMGX (5.76%). In terms of maximum drawdown, ACAAX dropped -70.29% vs VTMGX's -60.58%.

Which has better risk-adjusted returns?

VTMGX currently has the higher Sharpe Ratio (1.75 vs 0.81), 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.