ALBAX vs. AAIZX

Last updated Jun 4, 2026

ALBAX (Alger Growth & Income Fund) and AAIZX (Alger AI Enablers & Adopters Z) are both mutual funds - ALBAX is a Large Cap Blend Equities fund managed by Alger, while AAIZX is a Technology Equities fund actively managed by Alger. Over the past year, ALBAX returned 35.27% vs 65.77% for AAIZX. A 0.78 correlation means they provide meaningful diversification when combined. ALBAX charges 0.98%/yr vs 0.55%/yr for AAIZX.

Performance

ALBAX vs. AAIZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Growth & Income Fund (ALBAX) and Alger AI Enablers & Adopters Z (AAIZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALBAX achieves a 13.85% return, which is significantly lower than AAIZX's 28.04% return.

ALBAX

• 1D: 0.62%
• 1M: 5.05%
• YTD: 13.85%
• 6M: 12.67%
• 1Y: 35.27%
• 3Y*: 22.73%
• 5Y*: 15.07%
• 10Y*: 15.46%

AAIZX

• 1D: 0.14%
• 1M: 13.74%
• YTD: 28.04%
• 6M: 27.96%
• 1Y: 65.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ALBAX vs. AAIZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ALBAX Alger Growth & Income Fund	13.85%	19.89%	13.38%
AAIZX Alger AI Enablers & Adopters Z	28.04%	41.00%	33.76%

Correlation

The correlation between ALBAX and AAIZX is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Apr 9, 2024	0.78

The correlation between ALBAX and AAIZX has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

ALBAX vs. AAIZX — Risk / Return Rank

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

ALBAX

ALBAX Risk / Return Rank: 89
ALBAX Sharpe Ratio Rank: 90
ALBAX Sortino Ratio Rank: 87
ALBAX Omega Ratio Rank: 82
ALBAX Calmar Ratio Rank: 90
ALBAX Martin Ratio Rank: 94

AAIZX

AAIZX Risk / Return Rank: 76
AAIZX Sharpe Ratio Rank: 91
AAIZX Sortino Ratio Rank: 76
AAIZX Omega Ratio Rank: 72
AAIZX Calmar Ratio Rank: 84
AAIZX Martin Ratio Rank: 60

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.

ALBAX vs. AAIZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Growth & Income Fund (ALBAX) and Alger AI Enablers & Adopters Z (AAIZX). 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.

	ALBAX	AAIZX	Difference
Sharpe ratio: Return per unit of total volatility	3.01	3.06	-0.06
Sortino ratio: Return per unit of downside risk	4.12	3.64	+0.48
Omega ratio: Gain probability vs. loss probability	1.54	1.47	+0.07
Calmar ratio: Return relative to maximum drawdown	4.60	3.91	+0.69
Martin ratio: Return relative to average drawdown	20.90	11.89	+9.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALBAX vs. AAIZX - Sharpe Ratio Comparison

The current ALBAX Sharpe Ratio is 3.01, which is comparable to the AAIZX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of ALBAX and AAIZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ALBAX	AAIZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.01	3.06	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	1.87	-1.20

Drawdowns

ALBAX vs. AAIZX - Drawdown Comparison

The maximum ALBAX drawdown since its inception was -40.56%, which is greater than AAIZX's maximum drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for ALBAX and AAIZX.

Drawdown Indicators

	ALBAX	AAIZX	Difference
Max Drawdown Largest peak-to-trough decline	-40.56%	-29.00%	-11.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-17.47%	+9.61%
Max Drawdown (3Y) Largest decline over 3 years	-17.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.26%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.34%	-5.00%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	5.73%	-4.00%

Volatility

ALBAX vs. AAIZX - Volatility Comparison

The current volatility for Alger Growth & Income Fund (ALBAX) is 3.06%, while Alger AI Enablers & Adopters Z (AAIZX) has a volatility of 5.22%. This indicates that ALBAX experiences smaller price fluctuations and is considered to be less risky than AAIZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALBAX	AAIZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	5.22%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	16.75%	-7.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	22.33%	-10.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.51%	27.44%	-11.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.25%	27.44%	-10.19%

ALBAX vs. AAIZX - Expense Ratio Comparison

ALBAX has a 0.98% expense ratio, which is higher than AAIZX's 0.55% expense ratio.

Dividends

ALBAX vs. AAIZX - Dividend Comparison

ALBAX's dividend yield for the trailing twelve months is around 0.80%, less than AAIZX's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIZX Alger AI Enablers & Adopters Z	4.93%	6.31%	4.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ALBAX Alger Growth & Income Fund	0.80%	0.74%	1.08%	0.98%	1.24%	4.17%	2.55%	5.00%	6.75%	2.35%	1.56%	3.75%

Frequently Asked Questions

Can I hold both ALBAX and AAIZX in my portfolio?

ALBAX and AAIZX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALBAX or AAIZX?

AAIZX has higher volatility (5.22%) compared to ALBAX (3.06%). In terms of maximum drawdown, ALBAX dropped -40.56% vs AAIZX's -29.00%.

Which has better risk-adjusted returns?

AAIZX currently has the higher Sharpe Ratio (3.06 vs 3.01), 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.