ALAI vs. IGV

Last updated Aug 4, 2026

ALAI (Alger AI Enablers & Adopters ETF) and IGV (iShares Expanded Tech-Software Sector ETF) are both exchange-traded funds - ALAI is a Artificial Intelligence fund actively managed by Alger, while IGV is a Technology Equities fund tracking the S&P North American Expanded Technology Software Index. ALAI is actively managed, while IGV is passively managed. Over the past year, ALAI returned 40.53% vs -10.30% for IGV. Their 0.66 correlation means they have sometimes moved together and sometimes differently. ALAI charges 0.55%/yr vs 0.39%/yr for IGV.

Performance

ALAI vs. IGV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger AI Enablers & Adopters ETF (ALAI) and iShares Expanded Tech-Software Sector ETF (IGV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALAI achieves a 22.63% return, which is significantly higher than IGV's -7.81% return.

ALAI

• 1D: 2.98%
• 1M: 1.63%
• 6M: 22.67%
• YTD: 22.63%
• 1Y: 40.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 42.22%

IGV

• 1D: 3.00%
• 1M: 4.11%
• 6M: 8.85%
• YTD: -7.81%
• 1Y: -10.30%
• 3Y*: 12.00%
• 5Y*: 3.63%
• 10Y*: 16.04%
• ALL TIME*: 9.49%

*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)
ALAI Alger AI Enablers & Adopters ETF	$3.00M	$4.32M	$4.07M
IGV iShares Expanded Tech-Software Sector ETF	$1.47B	$1.27B	$1.69B

ALAI vs. IGV - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ALAI Alger AI Enablers & Adopters ETF	22.63%	39.81%	32.38%
IGV iShares Expanded Tech-Software Sector ETF	-7.81%	5.56%	20.22%

Correlation

The correlation between ALAI and IGV is 0.51, 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.	0.51
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024	0.66

The correlation between ALAI and IGV shifts across timeframes, from 0.51 (1 year) to 0.66 (all time), reflecting how their relationship changes across market environments.

ALAI vs. IGV - Sectors Allocation Comparison

Sectors	ALAI	IGV
Technology	53.7%	89.3%
Communication Services	18.0%	8.3%
Consumer Cyclical	11.9%	0.3%
Industrials	5.8%	0.1%
Financial Services	4.1%	1.9%
Utilities	3.2%	-
Healthcare	2.6%	-
Basic Materials	0.7%	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-

Return for Risk

ALAI vs. IGV — Risk / Return Rank

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

ALAI

ALAI Risk / Return Rank: 56
ALAI Sharpe Ratio Rank: 60
ALAI Sortino Ratio Rank: 59
ALAI Omega Ratio Rank: 54
ALAI Calmar Ratio Rank: 57
ALAI Martin Ratio Rank: 51

IGV

IGV Risk / Return Rank: 7
IGV Sharpe Ratio Rank: 6
IGV Sortino Ratio Rank: 7
IGV Omega Ratio Rank: 7
IGV Calmar Ratio Rank: 7
IGV Martin Ratio Rank: 7

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.

ALAI vs. IGV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters ETF (ALAI) and iShares Expanded Tech-Software Sector ETF (IGV). 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	IGV	Difference
Sharpe ratio: Return per unit of total volatility	1.48	-0.35	+1.84
Sortino ratio: Return per unit of downside risk	2.07	-0.31	+2.39
Omega ratio: Gain probability vs. loss probability	1.25	0.96	+0.29
Calmar ratio: Return relative to maximum drawdown	2.09	-0.28	+2.37
Martin ratio: Return relative to average drawdown	6.16	-0.53	+6.70

ALAI vs. IGV - Sharpe Ratio Comparison

The current ALAI Sharpe Ratio is 1.48, which is higher than the IGV Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of ALAI and IGV, 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. IGV - Drawdown Comparison

The maximum ALAI drawdown since its inception was -29.36%, smaller than the maximum IGV drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for ALAI and IGV.

Drawdown Indicators

	ALAI	IGV	Difference
Max Drawdown Largest peak-to-trough decline	-29.36%	-63.45%	+34.09%
Max Drawdown (1Y) Largest decline over 1 year	-19.48%	-36.61%	+17.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-36.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.85%	—
Current Drawdown Current decline from peak	-5.28%	-17.28%	+12.00%
Average Drawdown Average peak-to-trough decline	-5.18%	-14.49%	+9.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.59%	19.38%	-12.79%

Volatility

ALAI vs. IGV - Volatility Comparison

Alger AI Enablers & Adopters ETF (ALAI) has a higher volatility of 10.48% compared to iShares Expanded Tech-Software Sector ETF (IGV) at 7.40%. This indicates that ALAI's price experiences larger fluctuations and is considered to be riskier than IGV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALAI	IGV	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.48%	7.40%	+3.08%
Volatility (6M) Calculated over the trailing 6-month period	22.49%	25.09%	-2.60%
Volatility (1Y) Calculated over the trailing 1-year period	27.55%	29.25%	-1.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.15%	28.21%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.15%	26.47%	+2.68%

ALAI vs. IGV - Expense Ratio Comparison

ALAI has a 0.55% expense ratio, which is higher than IGV's 0.39% expense ratio.

Dividends

ALAI vs. IGV - Dividend Comparison

ALAI's dividend yield for the trailing twelve months is around 1.22%, more than IGV's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALAI Alger AI Enablers & Adopters ETF	1.22%	1.50%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IGV iShares Expanded Tech-Software Sector ETF	0.02%	0.00%	0.00%	0.01%	0.01%	0.00%	0.35%	0.02%	0.16%	0.09%	0.82%	0.22%

Frequently Asked Questions

Can I hold both ALAI and IGV in my portfolio?

ALAI and IGV have a correlation of 0.51, 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 IGV?

ALAI has higher volatility (10.48%) compared to IGV (7.40%). In terms of maximum drawdown, ALAI dropped -29.36% vs IGV's -63.45%.

Which ETF is better, ALAI or IGV?

On 1-year performance, ALAI leads with 40.53% vs -10.30% for IGV. On fees, IGV is cheaper at 0.39% per year. On volatility, IGV has been the lower-risk option at 7.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALAI or IGV?

Over the 1-year period, ALAI has performed better with a 40.53% return vs -10.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALAI or IGV?

IGV is cheaper with a 0.39% expense ratio, compared with 0.55% for ALAI.

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

ALAI has the higher dividend yield at 1.22%, compared with 0.02% for IGV.

What is the main difference between ALAI and IGV?

ALAI is categorized as Artificial Intelligence, while IGV is Technology Equities. They also come from different issuers: Alger and iShares. Their fees differ too: 0.55% for ALAI and 0.39% for IGV.

Which has better risk-adjusted returns?

ALAI currently has the higher Sharpe Ratio (1.48 vs -0.35), 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.