ACIZX vs. FOKFX

Last updated Jun 26, 2026

ACIZX (Alger Capital Appreciation Fund Institutional Class Z-2) and FOKFX (Fidelity OTC K6 Portfolio) are both Large Cap Growth Equities funds. Over the past 5 years, ACIZX returned 19.48%/yr vs 15.72%/yr for FOKFX. With a 0.96 correlation, they move nearly in lockstep. ACIZX charges 0.88%/yr vs 0.50%/yr for FOKFX.

Performance

ACIZX vs. FOKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Capital Appreciation Fund Institutional Class Z-2 (ACIZX) and Fidelity OTC K6 Portfolio (FOKFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ACIZX achieves a 12.02% return, which is significantly lower than FOKFX's 20.56% return.

ACIZX

• 1D: -0.47%
• 1M: -0.45%
• YTD: 12.02%
• 6M: 9.75%
• 1Y: 34.19%
• 3Y*: 41.71%
• 5Y*: 19.48%
• 10Y*: —

FOKFX

• 1D: -0.36%
• 1M: -3.46%
• YTD: 20.56%
• 6M: 19.55%
• 1Y: 43.21%
• 3Y*: 29.77%
• 5Y*: 15.72%
• 10Y*: —

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

ACIZX vs. FOKFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ACIZX Alger Capital Appreciation Fund Institutional Class Z-2	12.02%	32.21%	70.41%	43.41%	-36.67%	18.75%	41.96%	12.58%
FOKFX Fidelity OTC K6 Portfolio	20.56%	20.30%	34.58%	43.48%	-32.32%	25.95%	47.52%	17.08%

Correlation

The correlation between ACIZX and FOKFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.96

The correlation between ACIZX and FOKFX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

ACIZX vs. FOKFX — Risk / Return Rank

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

ACIZX

ACIZX Risk / Return Rank: 36
ACIZX Sharpe Ratio Rank: 41
ACIZX Sortino Ratio Rank: 36
ACIZX Omega Ratio Rank: 36
ACIZX Calmar Ratio Rank: 34
ACIZX Martin Ratio Rank: 32

FOKFX

FOKFX Risk / Return Rank: 76
FOKFX Sharpe Ratio Rank: 77
FOKFX Sortino Ratio Rank: 66
FOKFX Omega Ratio Rank: 67
FOKFX Calmar Ratio Rank: 85
FOKFX Martin Ratio Rank: 86

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.

ACIZX vs. FOKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Fund Institutional Class Z-2 (ACIZX) and Fidelity OTC K6 Portfolio (FOKFX). 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.

	ACIZX	FOKFX	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.18	-0.67
Sortino ratio: Return per unit of downside risk	2.05	2.79	-0.74
Omega ratio: Gain probability vs. loss probability	1.26	1.37	-0.12
Calmar ratio: Return relative to maximum drawdown	1.86	3.55	-1.69
Martin ratio: Return relative to average drawdown	6.05	13.84	-7.79

ACIZX vs. FOKFX - Sharpe Ratio Comparison

The current ACIZX Sharpe Ratio is 1.51, which is lower than the FOKFX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of ACIZX and FOKFX, 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

ACIZX vs. FOKFX - Drawdown Comparison

The maximum ACIZX drawdown since its inception was -46.45%, which is greater than FOKFX's maximum drawdown of -37.26%. Use the drawdown chart below to compare losses from any high point for ACIZX and FOKFX.

Drawdown Indicators

	ACIZX	FOKFX	Difference
Max Drawdown Largest peak-to-trough decline	-46.45%	-37.26%	-9.19%
Max Drawdown (1Y) Largest decline over 1 year	-18.52%	-12.53%	-5.99%
Max Drawdown (3Y) Largest decline over 3 years	-27.73%	-24.81%	-2.92%
Max Drawdown (5Y) Largest decline over 5 years	-46.45%	-37.26%	-9.19%
Current Drawdown Current decline from peak	-4.65%	-5.82%	+1.17%
Average Drawdown Average peak-to-trough decline	-10.54%	-9.15%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.68%	3.20%	+2.48%

Volatility

ACIZX vs. FOKFX - Volatility Comparison

Alger Capital Appreciation Fund Institutional Class Z-2 (ACIZX) and Fidelity OTC K6 Portfolio (FOKFX) have volatilities of 9.62% and 9.55%, 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.

Volatility by Period

	ACIZX	FOKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.62%	9.55%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	17.70%	16.70%	+1.00%
Volatility (1Y) Calculated over the trailing 1-year period	22.85%	20.39%	+2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.53%	23.33%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.71%	24.75%	+0.96%

ACIZX vs. FOKFX - Expense Ratio Comparison

ACIZX has a 0.88% expense ratio, which is higher than FOKFX's 0.50% expense ratio.

Dividends

ACIZX vs. FOKFX - Dividend Comparison

ACIZX's dividend yield for the trailing twelve months is around 5.97%, more than FOKFX's 3.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ACIZX Alger Capital Appreciation Fund Institutional Class Z-2	5.97%	6.69%	24.95%	7.80%	3.78%	18.91%	16.31%	10.21%	12.29%	6.72%
FOKFX Fidelity OTC K6 Portfolio	3.49%	4.20%	4.58%	0.24%	0.08%	3.81%	0.39%	0.32%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACIZX and FOKFX in my portfolio?

ACIZX and FOKFX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ACIZX or FOKFX?

ACIZX has higher volatility (9.62%) compared to FOKFX (9.55%). In terms of maximum drawdown, ACIZX dropped -46.45% vs FOKFX's -37.26%.

Which has better risk-adjusted returns?

FOKFX currently has the higher Sharpe Ratio (2.18 vs 1.51), 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.