ALAI vs. SOXX

Last updated Jun 24, 2026

ALAI (Alger AI Enablers & Adopters ETF) and SOXX (iShares Semiconductor ETF) are both exchange-traded funds - ALAI is a Technology Equities fund actively managed by Alger, while SOXX is a Semiconductors fund tracking the NYSE Semiconductor Index. ALAI is actively managed, while SOXX is passively managed. Over the past year, ALAI returned 55.24% vs 167.63% for SOXX. A 0.74 correlation means they provide meaningful diversification when combined. ALAI charges 0.55%/yr vs 0.34%/yr for SOXX.

Performance

ALAI vs. SOXX - Performance Comparison

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

Returns By Period

In the year-to-date period, ALAI achieves a 23.84% return, which is significantly lower than SOXX's 100.58% return.

ALAI

• 1D: -3.08%
• 1M: 2.64%
• YTD: 23.84%
• 6M: 21.16%
• 1Y: 55.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SOXX

• 1D: -7.88%
• 1M: 12.35%
• YTD: 100.58%
• 6M: 98.07%
• 1Y: 167.63%
• 3Y*: 56.18%
• 5Y*: 33.69%
• 10Y*: 36.08%

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

ALAI vs. SOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ALAI Alger AI Enablers & Adopters ETF	23.84%	39.81%	32.38%
SOXX iShares Semiconductor ETF	100.58%	40.74%	-1.10%

Correlation

The correlation between ALAI and SOXX is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024	0.74

The correlation between ALAI and SOXX has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

ALAI vs. SOXX - Sectors Allocation Comparison

Sectors	ALAI	SOXX
Technology	54.7%	100.0%
Communication Services	21.1%	-
Consumer Cyclical	12.7%	-
Financial Services	4.0%	-
Utilities	2.8%	-
Industrials	2.2%	-
Healthcare	2.0%	-
Basic Materials	0.5%	-
Consumer Defensive	-	-
Energy	-	-
Real Estate	-	-

Return for Risk

ALAI vs. SOXX — Risk / Return Rank

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

ALAI

ALAI Risk / Return Rank: 62
ALAI Sharpe Ratio Rank: 70
ALAI Sortino Ratio Rank: 62
ALAI Omega Ratio Rank: 61
ALAI Calmar Ratio Rank: 61
ALAI Martin Ratio Rank: 55

SOXX

SOXX Risk / Return Rank: 95
SOXX Sharpe Ratio Rank: 97
SOXX Sortino Ratio Rank: 92
SOXX Omega Ratio Rank: 92
SOXX Calmar Ratio Rank: 97
SOXX Martin Ratio Rank: 97

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. SOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters ETF (ALAI) and iShares Semiconductor ETF (SOXX). 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	SOXX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	4.28	-2.14
Sortino ratio: Return per unit of downside risk	2.73	4.15	-1.42
Omega ratio: Gain probability vs. loss probability	1.35	1.60	-0.25
Calmar ratio: Return relative to maximum drawdown	2.85	10.70	-7.85
Martin ratio: Return relative to average drawdown	8.95	38.46	-29.52

ALAI vs. SOXX - Sharpe Ratio Comparison

The current ALAI Sharpe Ratio is 2.14, which is lower than the SOXX Sharpe Ratio of 4.28. The chart below compares the historical Sharpe Ratios of ALAI and SOXX, 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. SOXX - Drawdown Comparison

The maximum ALAI drawdown since its inception was -29.36%, smaller than the maximum SOXX drawdown of -70.21%. Use the drawdown chart below to compare losses from any high point for ALAI and SOXX.

Drawdown Indicators

	ALAI	SOXX	Difference
Max Drawdown Largest peak-to-trough decline	-29.36%	-70.21%	+40.85%
Max Drawdown (1Y) Largest decline over 1 year	-19.48%	-15.77%	-3.71%
Max Drawdown (3Y) Largest decline over 3 years	—	-41.36%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-45.75%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.75%	—
Current Drawdown Current decline from peak	-4.34%	-7.88%	+3.54%
Average Drawdown Average peak-to-trough decline	-5.12%	-19.94%	+14.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.19%	4.38%	+1.81%

Volatility

ALAI vs. SOXX - Volatility Comparison

The current volatility for Alger AI Enablers & Adopters ETF (ALAI) is 11.00%, while iShares Semiconductor ETF (SOXX) has a volatility of 22.75%. This indicates that ALAI experiences smaller price fluctuations and is considered to be less risky than SOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALAI	SOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.00%	22.75%	-11.75%
Volatility (6M) Calculated over the trailing 6-month period	20.54%	33.44%	-12.90%
Volatility (1Y) Calculated over the trailing 1-year period	25.98%	39.42%	-13.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.89%	37.21%	-8.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.89%	34.00%	-5.11%

ALAI vs. SOXX - Expense Ratio Comparison

ALAI has a 0.55% expense ratio, which is higher than SOXX's 0.34% expense ratio.

Dividends

ALAI vs. SOXX - Dividend Comparison

ALAI's dividend yield for the trailing twelve months is around 1.21%, more than SOXX's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALAI Alger AI Enablers & Adopters ETF	1.21%	1.50%	0.66%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SOXX iShares Semiconductor ETF	0.24%	0.57%	0.67%	0.78%	1.26%	0.64%	0.81%	1.23%	1.37%	0.90%	1.08%	1.29%

Frequently Asked Questions

Can I hold both ALAI and SOXX in my portfolio?

ALAI and SOXX have a correlation of 0.69, 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 SOXX?

SOXX has higher volatility (22.75%) compared to ALAI (11.00%). In terms of maximum drawdown, ALAI dropped -29.36% vs SOXX's -70.21%.

Which ETF is better, ALAI or SOXX?

On 1-year performance, SOXX leads with 167.63% vs 55.24% for ALAI. On fees, SOXX is cheaper at 0.34% per year. On volatility, ALAI has been the lower-risk option at 11.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALAI or SOXX?

Over the 1-year period, SOXX has performed better with a 167.63% return vs 55.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALAI or SOXX?

SOXX is cheaper with a 0.34% expense ratio, compared with 0.55% for ALAI.

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

ALAI has the higher dividend yield at 1.21%, compared with 0.24% for SOXX.

What is the main difference between ALAI and SOXX?

ALAI is categorized as Technology Equities, while SOXX is Semiconductors. They also come from different issuers: Alger and iShares. Their fees differ too: 0.55% for ALAI and 0.34% for SOXX.

Which has better risk-adjusted returns?

SOXX currently has the higher Sharpe Ratio (4.28 vs 2.14), 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.