ALMAX vs. SPY
Compare and contrast key facts about Alger Weatherbie Specialized Growth Fund (ALMAX) and SPDR S&P 500 ETF (SPY).
ALMAX is managed by Alger. It was launched on May 8, 2002. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ALMAX or SPY.
Key characteristics
| ALMAX | SPY | |
|---|---|---|
| YTD Return | -0.41% | 6.58% |
| 1Y Return | 9.96% | 25.57% |
| 3Y Return (Ann) | -11.88% | 8.08% |
| 5Y Return (Ann) | 3.33% | 13.25% |
| 10Y Return (Ann) | 8.61% | 12.38% |
| Sharpe Ratio | 0.58 | 2.13 |
| Daily Std Dev | 20.29% | 11.60% |
| Max Drawdown | -59.89% | -55.19% |
| Current Drawdown | -39.78% | -3.47% |
Correlation
The correlation between ALMAX and SPY is 0.83, 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.
Performance
ALMAX vs. SPY - Performance Comparison
In the year-to-date period, ALMAX achieves a -0.41% return, which is significantly lower than SPY's 6.58% return. Over the past 10 years, ALMAX has underperformed SPY with an annualized return of 8.61%, while SPY has yielded a comparatively higher 12.38% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ALMAX vs. SPY - Expense Ratio Comparison
ALMAX has a 1.20% expense ratio, which is higher than SPY's 0.09% expense ratio.
Risk-Adjusted Performance
ALMAX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Weatherbie Specialized Growth Fund (ALMAX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
ALMAX vs. SPY - Dividend Comparison
ALMAX has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.33%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALMAX Alger Weatherbie Specialized Growth Fund | 0.00% | 0.00% | 0.00% | 24.48% | 4.64% | 4.00% | 9.86% | 0.00% | 12.44% | 55.85% | 0.00% | 0.00% |
SPY SPDR S&P 500 ETF | 1.33% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
ALMAX vs. SPY - Drawdown Comparison
The maximum ALMAX drawdown since its inception was -59.89%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for ALMAX and SPY. For additional features, visit the drawdowns tool.
Volatility
ALMAX vs. SPY - Volatility Comparison
Alger Weatherbie Specialized Growth Fund (ALMAX) has a higher volatility of 6.31% compared to SPDR S&P 500 ETF (SPY) at 4.03%. This indicates that ALMAX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.