ALMRX vs. FXAIX
Compare and contrast key facts about Alger MidCap Growth Institutional Fund (ALMRX) and Fidelity 500 Index Fund (FXAIX).
ALMRX is managed by Alger. It was launched on Nov 8, 1993. FXAIX is managed by Fidelity.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ALMRX or FXAIX.
Key characteristics
| ALMRX | FXAIX | |
|---|---|---|
| YTD Return | 8.45% | 7.98% |
| 1Y Return | 22.78% | 28.23% |
| 3Y Return (Ann) | -3.80% | 8.87% |
| 5Y Return (Ann) | 9.39% | 13.61% |
| 10Y Return (Ann) | 9.89% | 12.78% |
| Sharpe Ratio | 1.42 | 2.33 |
| Daily Std Dev | 15.71% | 11.70% |
| Max Drawdown | -68.74% | -33.79% |
| Current Drawdown | -50.13% | -2.32% |
Correlation
The correlation between ALMRX and FXAIX 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.
Performance
ALMRX vs. FXAIX - Performance Comparison
In the year-to-date period, ALMRX achieves a 8.45% return, which is significantly higher than FXAIX's 7.98% return. Over the past 10 years, ALMRX has underperformed FXAIX with an annualized return of 9.89%, while FXAIX has yielded a comparatively higher 12.78% 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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ALMRX vs. FXAIX - Expense Ratio Comparison
ALMRX has a 1.44% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Risk-Adjusted Performance
ALMRX vs. FXAIX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger MidCap Growth Institutional Fund (ALMRX) and Fidelity 500 Index Fund (FXAIX). 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
ALMRX vs. FXAIX - Dividend Comparison
ALMRX has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.36%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALMRX Alger MidCap Growth Institutional Fund | 0.00% | 0.00% | 0.00% | 77.91% | 12.19% | 8.56% | 7.91% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FXAIX Fidelity 500 Index Fund | 1.36% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% | 2.63% | 1.84% |
Drawdowns
ALMRX vs. FXAIX - Drawdown Comparison
The maximum ALMRX drawdown since its inception was -68.74%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for ALMRX and FXAIX. For additional features, visit the drawdowns tool.
Volatility
ALMRX vs. FXAIX - Volatility Comparison
Alger MidCap Growth Institutional Fund (ALMRX) has a higher volatility of 5.76% compared to Fidelity 500 Index Fund (FXAIX) at 4.10%. This indicates that ALMRX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.