ALMAX vs. UMBHX

Last updated Jun 4, 2026

ALMAX (Alger Weatherbie Specialized Growth Fund) and UMBHX (Carillon Scout Small Cap Fund) are both Small Cap Growth Equities funds. A 0.50 correlation means they provide meaningful diversification when combined. ALMAX charges 1.20%/yr vs 0.90%/yr for UMBHX.

Performance

ALMAX vs. UMBHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Weatherbie Specialized Growth Fund (ALMAX) and Carillon Scout Small Cap Fund (UMBHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ALMAX

• 1D: 0.69%
• 1M: 5.95%
• YTD: 4.73%
• 6M: 3.25%
• 1Y: 12.92%
• 3Y*: 7.88%
• 5Y*: -3.52%
• 10Y*: 8.75%

UMBHX

• 1D: 2.34%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ALMAX vs. UMBHX - Yearly Performance Comparison

	2026 (YTD)
ALMAX Alger Weatherbie Specialized Growth Fund	0.07%
UMBHX Carillon Scout Small Cap Fund	0.44%

Correlation

The correlation between ALMAX and UMBHX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.50

Return for Risk

ALMAX vs. UMBHX — Risk / Return Rank

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

ALMAX

ALMAX Risk / Return Rank: 8
ALMAX Sharpe Ratio Rank: 8
ALMAX Sortino Ratio Rank: 9
ALMAX Omega Ratio Rank: 8
ALMAX Calmar Ratio Rank: 7
ALMAX Martin Ratio Rank: 7

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.

ALMAX vs. UMBHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Weatherbie Specialized Growth Fund (ALMAX) and Carillon Scout Small Cap Fund (UMBHX). 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.

	ALMAX	UMBHX	Difference
Sharpe ratio Return per unit of total volatility	0.68	—	—
Sortino ratio Return per unit of downside risk	1.12	—	—
Omega ratio Gain probability vs. loss probability	1.13	—	—
Calmar ratio Return relative to maximum drawdown	0.70	—	—
Martin ratio Return relative to average drawdown	2.14	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ALMAX	UMBHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.68	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	1.79	-1.46

Drawdowns

ALMAX vs. UMBHX - Drawdown Comparison

The maximum ALMAX drawdown since its inception was -60.51%, which is greater than UMBHX's maximum drawdown of -1.86%. Use the drawdown chart below to compare losses from any high point for ALMAX and UMBHX.

Drawdown Indicators

	ALMAX	UMBHX	Difference
Max Drawdown Largest peak-to-trough decline	-60.51%	-1.86%	-58.65%
Max Drawdown (1Y) Largest decline over 1 year	-20.91%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-29.61%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-53.89%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.89%	—	—
Current Drawdown Current decline from peak	-32.00%	0.00%	-32.00%
Average Drawdown Average peak-to-trough decline	-17.33%	-0.84%	-16.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	—	—

Volatility

Volatility by Period

	ALMAX	UMBHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	21.71%	30.30%	-8.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.17%	30.30%	-1.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.26%	30.30%	-3.04%

ALMAX vs. UMBHX - Expense Ratio Comparison

ALMAX has a 1.20% expense ratio, which is higher than UMBHX's 0.90% expense ratio.

Dividends

ALMAX vs. UMBHX - Dividend Comparison

Neither ALMAX nor UMBHX has paid dividends to shareholders.

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%
UMBHX Carillon Scout Small Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ALMAX and UMBHX in my portfolio?

ALMAX and UMBHX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.