AFOIX vs. BQMGX

Last updated Jul 21, 2026

AFOIX (Alger Mid Cap Focus Fund new) and BQMGX (Bright Rock Mid Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, AFOIX returned 4.30%/yr vs 2.73%/yr for BQMGX. A 0.75 correlation means they provide meaningful diversification when combined. AFOIX charges 0.95%/yr vs 1.07%/yr for BQMGX.

Performance

AFOIX vs. BQMGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Mid Cap Focus Fund new (AFOIX) and Bright Rock Mid Cap Growth Fund (BQMGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFOIX achieves a 6.60% return, which is significantly higher than BQMGX's -0.51% return.

AFOIX

• 1D: -0.64%
• 1M: -5.71%
• 6M: 1.40%
• YTD: 6.60%
• 1Y: 16.33%
• 3Y*: 19.02%
• 5Y*: 4.30%
• 10Y*: —
• ALL TIME*: 13.55%

BQMGX

• 1D: -1.01%
• 1M: 2.40%
• 6M: -4.13%
• YTD: -0.51%
• 1Y: -2.58%
• 3Y*: 4.47%
• 5Y*: 2.73%
• 10Y*: 8.78%
• ALL TIME*: 9.36%

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

AFOIX vs. BQMGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AFOIX Alger Mid Cap Focus Fund new	6.60%	14.95%	31.68%	16.47%	-37.37%	10.14%	84.38%	2.89%
BQMGX Bright Rock Mid Cap Growth Fund	-0.51%	-0.29%	14.16%	13.00%	-19.44%	23.02%	19.62%	10.74%

Correlation

The correlation between AFOIX and BQMGX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 17, 2019	0.75

Over the past year, the correlation between AFOIX and BQMGX has dropped to 0.53 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

AFOIX vs. BQMGX — Risk / Return Rank

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

AFOIX

AFOIX Risk / Return Rank: 15
AFOIX Sharpe Ratio Rank: 14
AFOIX Sortino Ratio Rank: 15
AFOIX Omega Ratio Rank: 14
AFOIX Calmar Ratio Rank: 17
AFOIX Martin Ratio Rank: 17

BQMGX

BQMGX Risk / Return Rank: 2
BQMGX Sharpe Ratio Rank: 2
BQMGX Sortino Ratio Rank: 2
BQMGX Omega Ratio Rank: 2
BQMGX Calmar Ratio Rank: 2
BQMGX Martin Ratio Rank: 2

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.

AFOIX vs. BQMGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap Focus Fund new (AFOIX) and Bright Rock Mid Cap Growth Fund (BQMGX). 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.

	AFOIX	BQMGX	Difference
Sharpe ratio: Return per unit of total volatility	0.75	-0.20	+0.95
Sortino ratio: Return per unit of downside risk	1.15	-0.20	+1.36
Omega ratio: Gain probability vs. loss probability	1.14	0.98	+0.16
Calmar ratio: Return relative to maximum drawdown	1.08	-0.21	+1.29
Martin ratio: Return relative to average drawdown	3.26	-0.46	+3.72

AFOIX vs. BQMGX - Sharpe Ratio Comparison

The current AFOIX Sharpe Ratio is 0.75, which is higher than the BQMGX Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of AFOIX and BQMGX, 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

AFOIX vs. BQMGX - Drawdown Comparison

The maximum AFOIX drawdown since its inception was -48.75%, which is greater than BQMGX's maximum drawdown of -36.05%. Use the drawdown chart below to compare losses from any high point for AFOIX and BQMGX.

Drawdown Indicators

	AFOIX	BQMGX	Difference
Max Drawdown Largest peak-to-trough decline	-48.75%	-36.05%	-12.70%
Max Drawdown (1Y) Largest decline over 1 year	-16.46%	-11.62%	-4.84%
Max Drawdown (3Y) Largest decline over 3 years	-29.72%	-18.72%	-11.00%
Max Drawdown (5Y) Largest decline over 5 years	-48.75%	-25.92%	-22.83%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.05%	—
Current Drawdown Current decline from peak	-8.06%	-6.57%	-1.49%
Average Drawdown Average peak-to-trough decline	-19.79%	-5.88%	-13.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	5.40%	+0.05%

Volatility

AFOIX vs. BQMGX - Volatility Comparison

Alger Mid Cap Focus Fund new (AFOIX) has a higher volatility of 7.32% compared to Bright Rock Mid Cap Growth Fund (BQMGX) at 3.58%. This indicates that AFOIX's price experiences larger fluctuations and is considered to be riskier than BQMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFOIX	BQMGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.32%	3.58%	+3.74%
Volatility (6M) Calculated over the trailing 6-month period	18.46%	9.53%	+8.93%
Volatility (1Y) Calculated over the trailing 1-year period	23.80%	12.34%	+11.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.67%	16.86%	+8.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.50%	17.91%	+8.59%

AFOIX vs. BQMGX - Expense Ratio Comparison

AFOIX has a 0.95% expense ratio, which is lower than BQMGX's 1.07% expense ratio.

Dividends

AFOIX vs. BQMGX - Dividend Comparison

AFOIX has not paid dividends to shareholders, while BQMGX's dividend yield for the trailing twelve months is around 4.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFOIX Alger Mid Cap Focus Fund new	0.00%	0.00%	0.00%	0.00%	0.00%	11.14%	1.38%	0.00%	0.00%	0.00%	0.00%	0.00%
BQMGX Bright Rock Mid Cap Growth Fund	4.14%	4.12%	5.99%	0.00%	5.90%	8.05%	5.27%	3.50%	0.00%	0.08%	1.07%	5.80%

Frequently Asked Questions

Can I hold both AFOIX and BQMGX in my portfolio?

AFOIX and BQMGX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFOIX or BQMGX?

AFOIX has higher volatility (7.32%) compared to BQMGX (3.58%). In terms of maximum drawdown, AFOIX dropped -48.75% vs BQMGX's -36.05%.

Which has better risk-adjusted returns?

AFOIX currently has the higher Sharpe Ratio (0.75 vs -0.20), 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.