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ALGRX vs. ^GSPC
Performance
Return for Risk
Drawdowns
Volatility

ALGRX vs. ^GSPC

Last updated Jun 3, 2026

ALGRX (Alger Focus Equity Fund) is Large Cap Growth Equities fund managed by Alger, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, ALGRX returned 21.88%/yr vs 13.75%/yr for ^GSPC. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

ALGRX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Focus Equity Fund (ALGRX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ALGRX achieves a 17.78% return, which is significantly higher than ^GSPC's 11.16% return. Over the past 10 years, ALGRX has outperformed ^GSPC with an annualized return of 21.88%, while ^GSPC has yielded a comparatively lower 13.75% annualized return.

ALGRX

1D
0.98%
1M
10.44%
YTD
17.78%
6M
17.16%
1Y
52.97%
3Y*
41.88%
5Y*
20.70%
10Y*
21.88%

^GSPC

1D
0.13%
1M
5.25%
YTD
11.16%
6M
11.43%
1Y
28.20%
3Y*
21.12%
5Y*
12.66%
10Y*
13.75%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ALGRX vs. ^GSPC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ALGRX
Alger Focus Equity Fund		17.78%39.68%51.77%44.20%-35.94%20.06%45.82%33.93%1.39%28.68%
^GSPC
S&P 500 Index		11.16%16.39%23.31%24.23%-19.44%26.89%16.26%28.88%-6.24%19.42%

Correlation

The correlation between ALGRX and ^GSPC is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.81

Correlation (3Y)
Calculated over the trailing 3-year period

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.89

Correlation (10Y)
Calculated over the trailing 10-year period

0.89

Correlation (All Time)
Calculated using the full available price history since Jan 4, 1994

0.90

The correlation between ALGRX and ^GSPC has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

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Alger Focus Equity Fund

S&P 500 Index

Often compared with ALGRX:
ALGRX vs. ALAFXALGRX vs. ACAZXALGRX vs. SPYALGRX vs. GQRIXALGRX vs. FTQGXALGRX vs. QQQALGRX vs. LSGRX
Often compared with ^GSPC:
^GSPC vs. ^IBEX^GSPC vs. AVGO^GSPC vs. SCHD^GSPC vs. TSMU^GSPC vs. GC=F^GSPC vs. QQQ^GSPC vs. ACWI

Return for Risk

ALGRX vs. ^GSPC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ALGRX
ALGRX Risk / Return Rank: 6161
Overall Rank
ALGRX Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
ALGRX Sortino Ratio Rank: 5858
Sortino Ratio Rank
ALGRX Omega Ratio Rank: 5454
Omega Ratio Rank
ALGRX Calmar Ratio Rank: 6464
Calmar Ratio Rank
ALGRX Martin Ratio Rank: 5151
Martin Ratio Rank
^GSPC
^GSPC Risk / Return Rank: 7979
Overall Rank
^GSPC Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
^GSPC Sortino Ratio Rank: 7676
Sortino Ratio Rank
^GSPC Omega Ratio Rank: 7777
Omega Ratio Rank
^GSPC Calmar Ratio Rank: 7979
Calmar Ratio Rank
^GSPC Martin Ratio Rank: 8888
Martin Ratio Rank
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.

ALGRX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Focus Equity Fund (ALGRX) and S&P 500 Index (^GSPC). 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.

ALGRX^GSPCDifference

Sharpe ratio

Return per unit of total volatility

2.58

2.39

+0.19

Sortino ratio

Return per unit of downside risk

3.22

3.25

-0.04

Omega ratio

Gain probability vs. loss probability

1.41

1.43

-0.02

Calmar ratio

Return relative to maximum drawdown

3.10

3.16

-0.06

Martin ratio

Return relative to average drawdown

10.56

14.61

-4.05

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALGRX vs. ^GSPC - Sharpe Ratio Comparison

The current ALGRX Sharpe Ratio is 2.58, which is comparable to the ^GSPC Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of ALGRX and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

ALGRX^GSPCDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.58

2.39

+0.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.80

0.75

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.92

0.76

+0.15

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.47

-0.01

Drawdowns

ALGRX vs. ^GSPC - Drawdown Comparison

The maximum ALGRX drawdown since its inception was -62.64%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for ALGRX and ^GSPC.

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Drawdown Indicators

ALGRX^GSPCDifference

Max Drawdown

Largest peak-to-trough decline

-62.64%

-56.78%

-5.86%

Max Drawdown (1Y)

Largest decline over 1 year

-17.55%

-9.10%

-8.45%

Max Drawdown (3Y)

Largest decline over 3 years

-26.96%

-18.90%

-8.06%

Max Drawdown (5Y)

Largest decline over 5 years

-43.57%

-25.43%

-18.14%

Max Drawdown (10Y)

Largest decline over 10 years

-43.57%

-33.92%

-9.65%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-18.81%

-10.72%

-8.09%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.15%

1.97%

+3.18%

Volatility

ALGRX vs. ^GSPC - Volatility Comparison

Alger Focus Equity Fund (ALGRX) has a higher volatility of 4.92% compared to S&P 500 Index (^GSPC) at 2.84%. This indicates that ALGRX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ALGRX^GSPCDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.92%

2.84%

+2.08%

Volatility (6M)

Calculated over the trailing 6-month period

16.01%

8.98%

+7.03%

Volatility (1Y)

Calculated over the trailing 1-year period

21.40%

11.87%

+9.53%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

26.16%

16.90%

+9.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.98%

18.07%

+5.91%

Frequently Asked Questions

ALGRX and ^GSPC have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ALGRX has higher volatility (4.92%) compared to ^GSPC (2.84%). In terms of maximum drawdown, ALGRX dropped -62.64% vs ^GSPC's -56.78%.

ALGRX currently has the higher Sharpe Ratio (2.58 vs 2.39), 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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