ACAZX vs. ALVOX
ACAZX (Alger Capital Appreciation Fund Class Z) and ALVOX (Alger Capital Appreciation Portfolio) are both Large Cap Growth Equities funds from Alger. Over the past 10 years, ACAZX returned 21.15%/yr vs 19.52%/yr for ALVOX. With a 1.00 correlation, they move nearly in lockstep. ACAZX charges 0.85%/yr vs 0.91%/yr for ALVOX.
Performance
ACAZX vs. ALVOX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with ACAZX having a 13.16% return and ALVOX slightly lower at 12.83%. Over the past 10 years, ACAZX has outperformed ALVOX with an annualized return of 21.15%, while ALVOX has yielded a comparatively lower 19.52% annualized return.
ACAZX
- 1D
- 0.40%
- 1M
- 4.19%
- 6M
- 10.74%
- YTD
- 13.16%
- 1Y
- 32.00%
- 3Y*
- 40.90%
- 5Y*
- 18.84%
- 10Y*
- 21.15%
ALVOX
- 1D
- 0.42%
- 1M
- 4.39%
- 6M
- 10.27%
- YTD
- 12.83%
- 1Y
- 32.23%
- 3Y*
- 34.86%
- 5Y*
- 15.79%
- 10Y*
- 19.52%
ACAZX vs. ALVOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ACAZX Alger Capital Appreciation Fund Class Z | 13.16% | 31.33% | 69.38% | 43.53% | -36.63% | 18.48% | 42.23% | 33.63% | -0.61% | 31.78% |
ALVOX Alger Capital Appreciation Portfolio | 12.83% | 32.25% | 48.13% | 43.13% | -36.69% | 19.79% | 41.90% | 33.59% | -0.01% | 31.17% |
Correlation
The correlation between ACAZX and ALVOX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 2010 | 1.00 |
The correlation between ACAZX and ALVOX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
ACAZX vs. ALVOX — Risk / Return Rank
ACAZX
ALVOX
ACAZX vs. ALVOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Fund Class Z (ACAZX) and Alger Capital Appreciation Portfolio (ALVOX). 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.
| ACAZX | ALVOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.25 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.68 | 1.71 | -0.02 |
| Martin ratioReturn relative to average drawdown | 5.29 | 5.42 | -0.13 |
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Drawdowns
ACAZX vs. ALVOX - Drawdown Comparison
The maximum ACAZX drawdown since its inception was -47.92%, smaller than the maximum ALVOX drawdown of -67.54%. Use the drawdown chart below to compare losses from any high point for ACAZX and ALVOX.
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Drawdown Indicators
| ACAZX | ALVOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.92% | -67.54% | +19.62% |
Max Drawdown (1Y)Largest decline over 1 year | -18.97% | -18.86% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -27.72% | -27.46% | -0.26% |
Max Drawdown (5Y)Largest decline over 5 years | -47.92% | -41.01% | -6.91% |
Max Drawdown (10Y)Largest decline over 10 years | -47.92% | -41.01% | -6.91% |
Current DrawdownCurrent decline from peak | -2.60% | -2.33% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -8.31% | -18.74% | +10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.03% | 5.93% | +0.10% |
Volatility
ACAZX vs. ALVOX - Volatility Comparison
Alger Capital Appreciation Fund Class Z (ACAZX) and Alger Capital Appreciation Portfolio (ALVOX) have volatilities of 8.95% and 8.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ACAZX | ALVOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 8.64% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 18.02% | 17.60% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.79% | 22.26% | +0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.29% | 25.97% | +3.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.57% | 23.69% | +1.88% |
ACAZX vs. ALVOX - Expense Ratio Comparison
ACAZX has a 0.85% expense ratio, which is lower than ALVOX's 0.91% expense ratio.
Dividends
ACAZX vs. ALVOX - Dividend Comparison
ACAZX's dividend yield for the trailing twelve months is around 7.80%, less than ALVOX's 16.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACAZX Alger Capital Appreciation Fund Class Z | 7.80% | 8.83% | 23.61% | 6.65% | 4.13% | 22.24% | 14.91% | 7.87% | 11.23% | 6.60% | 0.82% | 8.15% |
ALVOX Alger Capital Appreciation Portfolio | 16.65% | 18.78% | 0.00% | 0.00% | 9.84% | 26.10% | 14.64% | 12.19% | 21.59% | 6.47% | 0.00% | 12.50% |
Frequently Asked Questions
With a correlation of 1.00, ACAZX and ALVOX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
ACAZX has higher volatility (8.95%) compared to ALVOX (8.64%). In terms of maximum drawdown, ACAZX dropped -47.92% vs ALVOX's -67.54%.
ALVOX currently has the higher Sharpe Ratio (1.45 vs 1.40), 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.
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