ALAI vs. ASMH

Last updated Jul 17, 2026

ALAI (Alger AI Enablers & Adopters ETF) and ASMH (ASML Holding NV ADR Hedged ETF) are both Technology Equities funds. ALAI is actively managed, while ASMH is passively managed. Over the past year, ALAI returned 41.75% vs 143.52% for ASMH. A 0.59 correlation means they provide meaningful diversification when combined. ALAI charges 0.55%/yr vs 0.19%/yr for ASMH.

Performance

ALAI vs. ASMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger AI Enablers & Adopters ETF (ALAI) and ASML Holding NV ADR Hedged ETF (ASMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALAI achieves a 20.08% return, which is significantly lower than ASMH's 71.44% return.

ALAI

• 1D: -2.85%
• 1M: -4.98%
• 6M: 16.97%
• YTD: 20.08%
• 1Y: 41.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ASMH

• 1D: -2.11%
• 1M: 0.25%
• 6M: 36.58%
• YTD: 71.44%
• 1Y: 143.52%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ALAI vs. ASMH - Yearly Performance Comparison

	2026 (YTD)	2025
ALAI Alger AI Enablers & Adopters ETF	20.08%	68.80%
ASMH ASML Holding NV ADR Hedged ETF	71.44%	59.22%

Correlation

The correlation between ALAI and ASMH is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	0.59

The correlation between ALAI and ASMH has been stable across timeframes, ranging from 0.59 to 0.60 - a consistent structural relationship.

Return for Risk

ALAI vs. ASMH — Risk / Return Rank

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

ALAI

ALAI Risk / Return Rank: 53
ALAI Sharpe Ratio Rank: 59
ALAI Sortino Ratio Rank: 54
ALAI Omega Ratio Rank: 52
ALAI Calmar Ratio Rank: 53
ALAI Martin Ratio Rank: 49

ASMH

ASMH Risk / Return Rank: 95
ASMH Sharpe Ratio Rank: 97
ASMH Sortino Ratio Rank: 93
ASMH Omega Ratio Rank: 89
ASMH Calmar Ratio Rank: 98
ASMH Martin Ratio Rank: 96

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.

ALAI vs. ASMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters ETF (ALAI) and ASML Holding NV ADR Hedged ETF (ASMH). 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.

	ALAI	ASMH	Difference
Sharpe ratio: Return per unit of total volatility	1.58	3.37	-1.79
Sortino ratio: Return per unit of downside risk	2.13	3.73	-1.59
Omega ratio: Gain probability vs. loss probability	1.26	1.45	-0.19
Calmar ratio: Return relative to maximum drawdown	2.15	9.79	-7.63
Martin ratio: Return relative to average drawdown	6.63	28.17	-21.54

ALAI vs. ASMH - Sharpe Ratio Comparison

The current ALAI Sharpe Ratio is 1.58, which is lower than the ASMH Sharpe Ratio of 3.37. The chart below compares the historical Sharpe Ratios of ALAI and ASMH, 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

ALAI vs. ASMH - Drawdown Comparison

The maximum ALAI drawdown since its inception was -29.36%, which is greater than ASMH's maximum drawdown of -15.89%. Use the drawdown chart below to compare losses from any high point for ALAI and ASMH.

Drawdown Indicators

	ALAI	ASMH	Difference
Max Drawdown Largest peak-to-trough decline	-29.36%	-15.89%	-13.47%
Max Drawdown (1Y) Largest decline over 1 year	-19.48%	-14.75%	-4.73%
Current Drawdown Current decline from peak	-7.25%	-10.51%	+3.26%
Average Drawdown Average peak-to-trough decline	-5.11%	-4.41%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	5.17%	+1.14%

Volatility

ALAI vs. ASMH - Volatility Comparison

The current volatility for Alger AI Enablers & Adopters ETF (ALAI) is 8.63%, while ASML Holding NV ADR Hedged ETF (ASMH) has a volatility of 18.11%. This indicates that ALAI experiences smaller price fluctuations and is considered to be less risky than ASMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALAI	ASMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.63%	18.11%	-9.48%
Volatility (6M) Calculated over the trailing 6-month period	21.49%	34.14%	-12.65%
Volatility (1Y) Calculated over the trailing 1-year period	26.60%	43.78%	-17.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.88%	41.26%	-12.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.88%	41.26%	-12.38%

ALAI vs. ASMH - Expense Ratio Comparison

ALAI has a 0.55% expense ratio, which is higher than ASMH's 0.19% expense ratio.

Dividends

ALAI vs. ASMH - Dividend Comparison

ALAI's dividend yield for the trailing twelve months is around 1.25%, less than ASMH's 1.63% yield.

Position	TTM	2025	2024
ALAI Alger AI Enablers & Adopters ETF	1.25%	1.50%	0.66%
ASMH ASML Holding NV ADR Hedged ETF	1.63%	0.19%	0.00%

Frequently Asked Questions

Can I hold both ALAI and ASMH in my portfolio?

ALAI and ASMH have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALAI or ASMH?

ASMH has higher volatility (18.11%) compared to ALAI (8.63%). In terms of maximum drawdown, ALAI dropped -29.36% vs ASMH's -15.89%.

Which ETF is better, ALAI or ASMH?

On 1-year performance, ASMH leads with 143.52% vs 41.75% for ALAI. On fees, ASMH is cheaper at 0.19% per year. On volatility, ALAI has been the lower-risk option at 8.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALAI or ASMH?

Over the 1-year period, ASMH has performed better with a 143.52% return vs 41.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALAI or ASMH?

ASMH is cheaper with a 0.19% expense ratio, compared with 0.55% for ALAI.

Which ETF pays a higher dividend yield, ALAI or ASMH?

ASMH has the higher dividend yield at 1.63%, compared with 1.25% for ALAI.

What is the main difference between ALAI and ASMH?

They also come from different issuers: Alger and Precidian Funds. Their fees differ too: 0.55% for ALAI and 0.19% for ASMH.

Which has better risk-adjusted returns?

ASMH currently has the higher Sharpe Ratio (3.37 vs 1.58), 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.