AIGOX vs. ALAFX

Last updated Aug 1, 2026

AIGOX (Alger Growth & Income Portfolio) and ALAFX (Alger Focus Equity A Fund) are both mutual funds - AIGOX is a Large Cap Blend Equities fund managed by Alger, while ALAFX is a Large Cap Growth Equities fund actively managed by Alger. Over the past 10 years, AIGOX returned 15.24%/yr vs 20.50%/yr for ALAFX. Their correlation of 0.87 means they have usually moved in the same direction. AIGOX charges 0.86%/yr vs 0.95%/yr for ALAFX.

Performance

AIGOX vs. ALAFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Growth & Income Portfolio (AIGOX) and Alger Focus Equity A Fund (ALAFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AIGOX achieves a 13.23% return, which is significantly higher than ALAFX's 8.73% return. Over the past 10 years, AIGOX has underperformed ALAFX with an annualized return of 15.24%, while ALAFX has yielded a comparatively higher 20.50% annualized return.

AIGOX

• 1D: 1.59%
• 1M: -0.23%
• 6M: 10.74%
• YTD: 13.23%
• 1Y: 27.50%
• 3Y*: 20.55%
• 5Y*: 14.00%
• 10Y*: 15.24%
• ALL TIME*: 7.27%

ALAFX

• 1D: 4.69%
• 1M: -3.70%
• 6M: 10.35%
• YTD: 8.73%
• 1Y: 25.61%
• 3Y*: 34.86%
• 5Y*: 17.16%
• 10Y*: 20.50%
• ALL TIME*: 18.86%

*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)
AIGOX Alger Growth & Income Portfolio	$0.00	$0.00	$0.00
ALAFX Alger Focus Equity A Fund	$0.00	$0.00	$0.00

AIGOX vs. ALAFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AIGOX Alger Growth & Income Portfolio	13.23%	19.79%	23.07%	23.62%	-15.15%	31.82%	14.86%	29.48%	-4.61%	21.33%
ALAFX Alger Focus Equity A Fund	8.73%	39.65%	51.72%	44.15%	-35.95%	20.00%	45.73%	33.84%	1.33%	28.70%

Correlation

The correlation between AIGOX and ALAFX is 0.79, 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.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.87

The correlation between AIGOX and ALAFX has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.

Return for Risk

AIGOX vs. ALAFX — Risk / Return Rank

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

AIGOX

AIGOX Risk / Return Rank: 82
AIGOX Sharpe Ratio Rank: 79
AIGOX Sortino Ratio Rank: 77
AIGOX Omega Ratio Rank: 75
AIGOX Calmar Ratio Rank: 87
AIGOX Martin Ratio Rank: 92

ALAFX

ALAFX Risk / Return Rank: 32
ALAFX Sharpe Ratio Rank: 32
ALAFX Sortino Ratio Rank: 32
ALAFX Omega Ratio Rank: 30
ALAFX Calmar Ratio Rank: 33
ALAFX Martin Ratio Rank: 30

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.

AIGOX vs. ALAFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Growth & Income Portfolio (AIGOX) and Alger Focus Equity A Fund (ALAFX). 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.

	AIGOX	ALAFX	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.00	+0.88
Sortino ratio: Return per unit of downside risk	2.66	1.49	+1.16
Omega ratio: Gain probability vs. loss probability	1.33	1.18	+0.15
Calmar ratio: Return relative to maximum drawdown	3.11	1.38	+1.73
Martin ratio: Return relative to average drawdown	13.32	4.31	+9.01

AIGOX vs. ALAFX - Sharpe Ratio Comparison

The current AIGOX Sharpe Ratio is 1.88, which is higher than the ALAFX Sharpe Ratio of 1.00. The chart below compares the historical Sharpe Ratios of AIGOX and ALAFX, 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

AIGOX vs. ALAFX - Drawdown Comparison

The maximum AIGOX drawdown since its inception was -63.78%, which is greater than ALAFX's maximum drawdown of -43.65%. Use the drawdown chart below to compare losses from any high point for AIGOX and ALAFX.

Drawdown Indicators

	AIGOX	ALAFX	Difference
Max Drawdown Largest peak-to-trough decline	-63.78%	-43.65%	-20.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.11%	-17.58%	+9.47%
Max Drawdown (3Y) Largest decline over 3 years	-18.83%	-26.96%	+8.13%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-43.65%	+20.35%
Max Drawdown (10Y) Largest decline over 10 years	-34.18%	-43.65%	+9.47%
Current Drawdown Current decline from peak	-1.56%	-8.00%	+6.44%
Average Drawdown Average peak-to-trough decline	-15.32%	-7.65%	-7.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	5.60%	-3.71%

Volatility

AIGOX vs. ALAFX - Volatility Comparison

The current volatility for Alger Growth & Income Portfolio (AIGOX) is 3.43%, while Alger Focus Equity A Fund (ALAFX) has a volatility of 8.32%. This indicates that AIGOX experiences smaller price fluctuations and is considered to be less risky than ALAFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AIGOX	ALAFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	8.32%	-4.89%
Volatility (6M) Calculated over the trailing 6-month period	10.37%	19.09%	-8.72%
Volatility (1Y) Calculated over the trailing 1-year period	13.40%	24.15%	-10.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	26.70%	-9.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.03%	24.24%	-6.21%

AIGOX vs. ALAFX - Expense Ratio Comparison

AIGOX has a 0.86% expense ratio, which is lower than ALAFX's 0.95% expense ratio.

Dividends

AIGOX vs. ALAFX - Dividend Comparison

AIGOX's dividend yield for the trailing twelve months is around 12.00%, more than ALAFX's 7.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AIGOX Alger Growth & Income Portfolio	12.00%	13.51%	1.23%	4.06%	8.76%	8.32%	1.66%	10.86%	8.44%	1.42%	1.17%	1.72%
ALAFX Alger Focus Equity A Fund	7.28%	7.91%	0.00%	0.10%	0.06%	14.09%	6.28%	1.98%	5.41%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AIGOX and ALAFX in my portfolio?

AIGOX and ALAFX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AIGOX or ALAFX?

ALAFX has higher volatility (8.32%) compared to AIGOX (3.43%). In terms of maximum drawdown, AIGOX dropped -63.78% vs ALAFX's -43.65%.

Which has better risk-adjusted returns?

AIGOX currently has the higher Sharpe Ratio (1.88 vs 1.00), 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.