ALMAX vs. IETC
ALMAX (Alger Weatherbie Specialized Growth Fund) and IETC (iShares U.S. Tech Independence Focused ETF) are both funds - ALMAX is a Small Cap Growth Equities fund managed by Alger, while IETC is a Technology Equities fund actively managed by iShares. Over the past 5 years, ALMAX returned -3.66%/yr vs 14.77%/yr for IETC. A 0.74 correlation means they provide meaningful diversification when combined. ALMAX charges 1.20%/yr vs 0.18%/yr for IETC.
Performance
ALMAX vs. IETC - Performance Comparison
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Returns By Period
In the year-to-date period, ALMAX achieves a 9.54% return, which is significantly higher than IETC's 3.27% return.
ALMAX
- 1D
- 0.07%
- 1M
- 6.56%
- YTD
- 9.54%
- 6M
- 6.19%
- 1Y
- 17.37%
- 3Y*
- 9.72%
- 5Y*
- -3.66%
- 10Y*
- 9.64%
IETC
- 1D
- -3.43%
- 1M
- -3.33%
- YTD
- 3.27%
- 6M
- 1.39%
- 1Y
- 16.71%
- 3Y*
- 25.64%
- 5Y*
- 14.77%
- 10Y*
- —
ALMAX vs. IETC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ALMAX Alger Weatherbie Specialized Growth Fund | 9.54% | 0.50% | 13.78% | 11.22% | -38.11% | 5.83% | 56.85% | 39.17% | -7.79% |
IETC iShares U.S. Tech Independence Focused ETF | 3.27% | 19.56% | 37.57% | 54.35% | -32.78% | 29.73% | 46.59% | 43.09% | -3.75% |
Correlation
The correlation between ALMAX and IETC is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Mar 23, 2018 | 0.74 |
The correlation between ALMAX and IETC shifts across timeframes, from 0.60 (1 year) to 0.74 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ALMAX vs. IETC — Risk / Return Rank
ALMAX
IETC
ALMAX vs. IETC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Weatherbie Specialized Growth Fund (ALMAX) and iShares U.S. Tech Independence Focused ETF (IETC). 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.
| ALMAX | IETC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.14 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.90 | 0.79 | +0.11 |
| Martin ratioReturn relative to average drawdown | 2.75 | 2.15 | +0.60 |
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Drawdowns
ALMAX vs. IETC - Drawdown Comparison
The maximum ALMAX drawdown since its inception was -60.51%, which is greater than IETC's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for ALMAX and IETC.
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Drawdown Indicators
| ALMAX | IETC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.51% | -38.48% | -22.03% |
Max Drawdown (1Y)Largest decline over 1 year | -20.91% | -21.19% | +0.28% |
Max Drawdown (3Y)Largest decline over 3 years | -29.61% | -25.17% | -4.44% |
Max Drawdown (5Y)Largest decline over 5 years | -53.89% | -38.48% | -15.41% |
Max Drawdown (10Y)Largest decline over 10 years | -53.89% | — | — |
Current DrawdownCurrent decline from peak | -28.88% | -11.36% | -17.52% |
Average DrawdownAverage peak-to-trough decline | -17.36% | -8.14% | -9.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.84% | 7.79% | -0.95% |
Volatility
ALMAX vs. IETC - Volatility Comparison
The current volatility for Alger Weatherbie Specialized Growth Fund (ALMAX) is 6.99%, while iShares U.S. Tech Independence Focused ETF (IETC) has a volatility of 11.06%. This indicates that ALMAX experiences smaller price fluctuations and is considered to be less risky than IETC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALMAX | IETC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 11.06% | -4.07% |
Volatility (6M)Calculated over the trailing 6-month period | 17.85% | 18.31% | -0.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.43% | 22.86% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.28% | 24.86% | +4.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.31% | 25.50% | +1.81% |
ALMAX vs. IETC - Expense Ratio Comparison
ALMAX has a 1.20% expense ratio, which is higher than IETC's 0.18% expense ratio.
Dividends
ALMAX vs. IETC - Dividend Comparison
ALMAX has not paid dividends to shareholders, while IETC's dividend yield for the trailing twelve months is around 0.40%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALMAX Alger Weatherbie Specialized Growth Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 24.48% | 4.64% | 4.00% | 9.86% | 0.00% | 12.44% | 55.85% |
IETC iShares U.S. Tech Independence Focused ETF | 0.40% | 0.38% | 0.52% | 0.79% | 0.92% | 0.73% | 0.48% | 0.95% | 1.27% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ALMAX and IETC have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IETC has higher volatility (11.06%) compared to ALMAX (6.99%). In terms of maximum drawdown, ALMAX dropped -60.51% vs IETC's -38.48%.
ALMAX currently has the higher Sharpe Ratio (0.84 vs 0.73), 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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