ALBAX vs. ALMRX
ALBAX (Alger Growth & Income Fund) and ALMRX (Alger MidCap Growth Institutional Fund) are both mutual funds - ALBAX is a Large Cap Blend Equities fund managed by Alger, while ALMRX is a Mid Cap Growth Equities fund managed by Alger. Over the past 10 years, ALBAX returned 15.48%/yr vs 12.85%/yr for ALMRX. At a 0.38 correlation, their price movements are largely independent. ALBAX charges 0.98%/yr vs 1.44%/yr for ALMRX.
Performance
ALBAX vs. ALMRX - Performance Comparison
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Returns By Period
In the year-to-date period, ALBAX achieves a 10.87% return, which is significantly higher than ALMRX's 7.39% return. Over the past 10 years, ALBAX has outperformed ALMRX with an annualized return of 15.48%, while ALMRX has yielded a comparatively lower 12.85% annualized return.
ALBAX
- 1D
- -0.35%
- 1M
- -1.43%
- YTD
- 10.87%
- 6M
- 9.63%
- 1Y
- 28.47%
- 3Y*
- 21.36%
- 5Y*
- 14.12%
- 10Y*
- 15.48%
ALMRX
- 1D
- 0.89%
- 1M
- 4.70%
- YTD
- 7.39%
- 6M
- 5.24%
- 1Y
- 17.71%
- 3Y*
- 17.31%
- 5Y*
- 3.19%
- 10Y*
- 12.85%
ALBAX vs. ALMRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALBAX Alger Growth & Income Fund | 10.87% | 19.89% | 21.81% | 22.60% | -14.12% | 30.79% | 15.22% | 28.92% | -4.72% | 20.18% |
ALMRX Alger MidCap Growth Institutional Fund | 7.39% | 17.01% | 20.02% | 22.68% | -35.28% | 6.17% | 64.25% | 29.79% | -7.77% | 28.75% |
Correlation
The correlation between ALBAX and ALMRX is 0.73, 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 | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997 | 0.38 |
Over the past year, ALBAX and ALMRX have become more correlated (0.73) than their long-term average of 0.38, meaning their price movements have been converging.
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Return for Risk
ALBAX vs. ALMRX — Risk / Return Rank
ALBAX
ALMRX
ALBAX vs. ALMRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Growth & Income Fund (ALBAX) and Alger MidCap Growth Institutional Fund (ALMRX). 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.
| ALBAX | ALMRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +1.87 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.15 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 3.65 | 1.03 | +2.61 |
| Martin ratioReturn relative to average drawdown | 15.99 | 3.31 | +12.68 |
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Drawdowns
ALBAX vs. ALMRX - Drawdown Comparison
The maximum ALBAX drawdown since its inception was -40.56%, smaller than the maximum ALMRX drawdown of -73.80%. Use the drawdown chart below to compare losses from any high point for ALBAX and ALMRX.
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Drawdown Indicators
| ALBAX | ALMRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.56% | -73.80% | +33.24% |
Max Drawdown (1Y)Largest decline over 1 year | -7.86% | -16.06% | +8.20% |
Max Drawdown (3Y)Largest decline over 3 years | -17.65% | -26.71% | +9.06% |
Max Drawdown (5Y)Largest decline over 5 years | -22.06% | -64.01% | +41.95% |
Max Drawdown (10Y)Largest decline over 10 years | -34.26% | -64.01% | +29.75% |
Current DrawdownCurrent decline from peak | -2.61% | -30.64% | +28.03% |
Average DrawdownAverage peak-to-trough decline | -7.33% | -22.22% | +14.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 5.01% | -3.22% |
Volatility
ALBAX vs. ALMRX - Volatility Comparison
The current volatility for Alger Growth & Income Fund (ALBAX) is 4.45%, while Alger MidCap Growth Institutional Fund (ALMRX) has a volatility of 7.23%. This indicates that ALBAX experiences smaller price fluctuations and is considered to be less risky than ALMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALBAX | ALMRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 7.23% | -2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 9.79% | 15.67% | -5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.62% | 19.88% | -7.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.59% | 48.54% | -32.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.25% | 37.84% | -20.59% |
ALBAX vs. ALMRX - Expense Ratio Comparison
ALBAX has a 0.98% expense ratio, which is lower than ALMRX's 1.44% expense ratio.
Dividends
ALBAX vs. ALMRX - Dividend Comparison
ALBAX's dividend yield for the trailing twelve months is around 0.73%, while ALMRX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALBAX Alger Growth & Income Fund | 0.73% | 0.74% | 1.08% | 0.98% | 1.24% | 4.17% | 2.55% | 5.00% | 6.75% | 2.35% | 1.56% | 3.75% |
ALMRX Alger MidCap Growth Institutional Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 77.91% | 12.19% | 8.56% | 7.91% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ALBAX and ALMRX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALMRX has higher volatility (7.23%) compared to ALBAX (4.45%). In terms of maximum drawdown, ALBAX dropped -40.56% vs ALMRX's -73.80%.
ALBAX currently has the higher Sharpe Ratio (2.28 vs 0.84), 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.
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