AFGPX vs. IDMO

Last updated Jun 24, 2026

AFGPX (Alger International Focus Fund) and IDMO (Invesco S&P International Developed Momentum ETF) are both funds - AFGPX is a Foreign Large Cap Equities fund managed by Alger, while IDMO is a Momentum fund tracking the S&P Momentum Developed ex U.S. & South Korea LargeMidCap Index. Over the past 10 years, AFGPX returned 9.26%/yr vs 13.51%/yr for IDMO. A 0.64 correlation means they provide meaningful diversification when combined. AFGPX charges 1.28%/yr vs 0.25%/yr for IDMO.

Performance

AFGPX vs. IDMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger International Focus Fund (AFGPX) and Invesco S&P International Developed Momentum ETF (IDMO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFGPX achieves a 15.69% return, which is significantly higher than IDMO's 9.69% return. Over the past 10 years, AFGPX has underperformed IDMO with an annualized return of 9.26%, while IDMO has yielded a comparatively higher 13.51% annualized return.

AFGPX

• 1D: 0.63%
• 1M: 8.25%
• YTD: 15.69%
• 6M: 15.27%
• 1Y: 19.05%
• 3Y*: 16.53%
• 5Y*: 4.36%
• 10Y*: 9.26%

IDMO

• 1D: -2.67%
• 1M: 1.51%
• YTD: 9.69%
• 6M: 8.93%
• 1Y: 26.34%
• 3Y*: 26.46%
• 5Y*: 15.55%
• 10Y*: 13.51%

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

AFGPX vs. IDMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFGPX Alger International Focus Fund	15.69%	18.22%	5.20%	18.03%	-31.00%	9.09%	43.38%	27.60%	-21.49%	25.80%
IDMO Invesco S&P International Developed Momentum ETF	9.69%	42.17%	12.79%	20.16%	-12.03%	14.31%	22.01%	26.09%	-16.66%	29.21%

Correlation

The correlation between AFGPX and IDMO is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Feb 24, 2012	0.64

The correlation between AFGPX and IDMO shifts across timeframes, from 0.64 (all time) to 0.83 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AFGPX vs. IDMO — Risk / Return Rank

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

AFGPX

AFGPX Risk / Return Rank: 18
AFGPX Sharpe Ratio Rank: 14
AFGPX Sortino Ratio Rank: 15
AFGPX Omega Ratio Rank: 16
AFGPX Calmar Ratio Rank: 21
AFGPX Martin Ratio Rank: 25

IDMO

IDMO Risk / Return Rank: 45
IDMO Sharpe Ratio Rank: 43
IDMO Sortino Ratio Rank: 44
IDMO Omega Ratio Rank: 43
IDMO Calmar Ratio Rank: 44
IDMO Martin Ratio Rank: 52

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.

AFGPX vs. IDMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger International Focus Fund (AFGPX) and Invesco S&P International Developed Momentum ETF (IDMO). 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.

	AFGPX	IDMO	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.46	-0.47
Sortino ratio: Return per unit of downside risk	1.48	2.12	-0.64
Omega ratio: Gain probability vs. loss probability	1.19	1.27	-0.08
Calmar ratio: Return relative to maximum drawdown	1.55	2.15	-0.60
Martin ratio: Return relative to average drawdown	5.43	8.70	-3.27

AFGPX vs. IDMO - Sharpe Ratio Comparison

The current AFGPX Sharpe Ratio is 0.99, which is lower than the IDMO Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of AFGPX and IDMO, 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

AFGPX vs. IDMO - Drawdown Comparison

The maximum AFGPX drawdown since its inception was -63.63%, which is greater than IDMO's maximum drawdown of -39.38%. Use the drawdown chart below to compare losses from any high point for AFGPX and IDMO.

Drawdown Indicators

	AFGPX	IDMO	Difference
Max Drawdown Largest peak-to-trough decline	-63.63%	-39.38%	-24.25%
Max Drawdown (1Y) Largest decline over 1 year	-12.92%	-12.31%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.34%	-12.65%	-2.69%
Max Drawdown (5Y) Largest decline over 5 years	-42.17%	-27.07%	-15.10%
Max Drawdown (10Y) Largest decline over 10 years	-42.17%	-31.34%	-10.83%
Current Drawdown Current decline from peak	0.00%	-2.67%	+2.67%
Average Drawdown Average peak-to-trough decline	-19.40%	-9.73%	-9.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	3.03%	+0.65%

Volatility

AFGPX vs. IDMO - Volatility Comparison

Alger International Focus Fund (AFGPX) and Invesco S&P International Developed Momentum ETF (IDMO) have volatilities of 8.21% and 7.84%, 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

	AFGPX	IDMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.21%	7.84%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	17.54%	16.34%	+1.20%
Volatility (1Y) Calculated over the trailing 1-year period	20.22%	18.13%	+2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	18.09%	+2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.72%	17.95%	+1.77%

AFGPX vs. IDMO - Expense Ratio Comparison

AFGPX has a 1.28% expense ratio, which is higher than IDMO's 0.25% expense ratio.

Dividends

AFGPX vs. IDMO - Dividend Comparison

AFGPX's dividend yield for the trailing twelve months is around 11.93%, more than IDMO's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFGPX Alger International Focus Fund	11.93%	13.81%	6.27%	0.00%	0.00%	10.04%	0.00%	4.42%	2.96%	5.26%	1.26%	0.00%
IDMO Invesco S&P International Developed Momentum ETF	3.64%	3.71%	2.24%	2.89%	3.66%	1.81%	1.63%	2.78%	3.27%	3.08%	2.18%	2.52%

Frequently Asked Questions

Can I hold both AFGPX and IDMO in my portfolio?

AFGPX and IDMO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFGPX or IDMO?

AFGPX has higher volatility (8.21%) compared to IDMO (7.84%). In terms of maximum drawdown, AFGPX dropped -63.63% vs IDMO's -39.38%.

Which has better risk-adjusted returns?

IDMO currently has the higher Sharpe Ratio (1.46 vs 0.99), 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.