ALFAX vs. CMCIX

Last updated Apr 1, 2026

Compare and contrast key facts about Lord Abbett Alpha Strategy Fund (ALFAX) and Calvert Small/Mid-Cap Fund Class I (CMCIX).

ALFAX is managed by Lord Abbett. It was launched on Mar 18, 1998. CMCIX is an actively managed fund by Calvert Research and Management. It was launched on Jul 29, 2011.

Performance

ALFAX vs. CMCIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lord Abbett Alpha Strategy Fund (ALFAX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). The values are adjusted to include any dividend payments, if applicable.

ALFAX vs. CMCIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ALFAX Lord Abbett Alpha Strategy Fund	-2.53%	8.80%	13.18%	8.29%
CMCIX Calvert Small/Mid-Cap Fund Class I	-4.71%	-5.28%	10.46%	7.81%

Returns By Period

In the year-to-date period, ALFAX achieves a -2.53% return, which is significantly higher than CMCIX's -4.71% return.

ALFAX

• 1D: -1.32%
• 1M: -9.32%
• YTD: -2.53%
• 6M: -1.61%
• 1Y: 16.40%
• 3Y*: 8.86%
• 5Y*: 1.80%
• 10Y*: 8.73%

CMCIX

• 1D: -0.17%
• 1M: -8.88%
• YTD: -4.71%
• 6M: -7.29%
• 1Y: -5.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ALFAX vs. CMCIX - Expense Ratio Comparison

ALFAX has a 1.40% expense ratio, which is higher than CMCIX's 1.26% expense ratio.

ALFAX

Lord Abbett Alpha Strategy Fund

CMCIX

Calvert Small/Mid-Cap Fund Class I

Return for Risk

ALFAX vs. CMCIX — Risk / Return Rank

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

ALFAX

ALFAX Risk / Return Rank: 39
ALFAX Sharpe Ratio Rank: 37
ALFAX Sortino Ratio Rank: 38
ALFAX Omega Ratio Rank: 34
ALFAX Calmar Ratio Rank: 42
ALFAX Martin Ratio Rank: 43

CMCIX

CMCIX Risk / Return Rank: 2
CMCIX Sharpe Ratio Rank: 2
CMCIX Sortino Ratio Rank: 2
CMCIX Omega Ratio Rank: 2
CMCIX Calmar Ratio Rank: 1
CMCIX Martin Ratio Rank: 2

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.

ALFAX vs. CMCIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Alpha Strategy Fund (ALFAX) and Calvert Small/Mid-Cap Fund Class I (CMCIX). 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.

	ALFAX	CMCIX	Difference
Sharpe ratio Return per unit of total volatility	0.80	-0.29	+1.09
Sortino ratio Return per unit of downside risk	1.23	-0.30	+1.53
Omega ratio Gain probability vs. loss probability	1.17	0.96	+0.20
Calmar ratio Return relative to maximum drawdown	1.07	-0.54	+1.61
Martin ratio Return relative to average drawdown	4.45	-1.39	+5.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALFAX vs. CMCIX - Sharpe Ratio Comparison

The current ALFAX Sharpe Ratio is 0.80, which is higher than the CMCIX Sharpe Ratio of -0.29. The chart below compares the historical Sharpe Ratios of ALFAX and CMCIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ALFAX	CMCIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	-0.29	+1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.18	+0.22

Correlation

The correlation between ALFAX and CMCIX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ALFAX vs. CMCIX - Dividend Comparison

ALFAX's dividend yield for the trailing twelve months is around 5.44%, more than CMCIX's 4.46% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALFAX Lord Abbett Alpha Strategy Fund	5.44%	5.30%	0.80%	0.46%	6.94%	5.38%	7.99%	14.66%	16.61%	11.96%	11.85%	15.83%
CMCIX Calvert Small/Mid-Cap Fund Class I	4.46%	4.25%	7.13%	0.60%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ALFAX vs. CMCIX - Drawdown Comparison

The maximum ALFAX drawdown since its inception was -57.11%, which is greater than CMCIX's maximum drawdown of -21.50%. Use the drawdown chart below to compare losses from any high point for ALFAX and CMCIX.

Drawdown Indicators

	ALFAX	CMCIX	Difference
Max Drawdown Largest peak-to-trough decline	-57.11%	-21.50%	-35.61%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-12.55%	-0.52%
Max Drawdown (5Y) Largest decline over 5 years	-33.88%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-40.29%	—	—
Current Drawdown Current decline from peak	-10.31%	-16.43%	+6.12%
Average Drawdown Average peak-to-trough decline	-12.94%	-6.16%	-6.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	4.90%	-1.77%

Volatility

ALFAX vs. CMCIX - Volatility Comparison

Lord Abbett Alpha Strategy Fund (ALFAX) has a higher volatility of 6.61% compared to Calvert Small/Mid-Cap Fund Class I (CMCIX) at 4.68%. This indicates that ALFAX's price experiences larger fluctuations and is considered to be riskier than CMCIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALFAX	CMCIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.61%	4.68%	+1.93%
Volatility (6M) Calculated over the trailing 6-month period	12.41%	10.54%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	20.01%	19.19%	+0.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.76%	16.61%	+3.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.59%	16.61%	+3.98%