ALMRX vs. KMKAX
Compare and contrast key facts about Alger MidCap Growth Institutional Fund (ALMRX) and Kinetics Market Opportunities Fund (KMKAX).
ALMRX is managed by Alger. It was launched on Nov 8, 1993. KMKAX is managed by Kinetics. It was launched on Jan 31, 2006.
Performance
ALMRX vs. KMKAX - Performance Comparison
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ALMRX vs. KMKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALMRX Alger MidCap Growth Institutional Fund | -7.99% | 17.01% | 20.02% | 22.68% | -35.28% | 6.17% | 64.25% | 29.79% | -7.77% | 28.75% |
KMKAX Kinetics Market Opportunities Fund | 22.43% | -3.31% | 83.58% | -7.57% | 14.69% | 27.69% | 19.31% | 22.42% | -10.92% | 46.89% |
Returns By Period
In the year-to-date period, ALMRX achieves a -7.99% return, which is significantly lower than KMKAX's 22.43% return. Over the past 10 years, ALMRX has underperformed KMKAX with an annualized return of 11.42%, while KMKAX has yielded a comparatively higher 20.79% annualized return.
ALMRX
- 1D
- 4.18%
- 1M
- -7.14%
- YTD
- -7.99%
- 6M
- -10.17%
- 1Y
- 18.01%
- 3Y*
- 13.20%
- 5Y*
- 0.87%
- 10Y*
- 11.42%
KMKAX
- 1D
- 1.40%
- 1M
- -7.66%
- YTD
- 22.43%
- 6M
- 11.30%
- 1Y
- 6.24%
- 3Y*
- 32.07%
- 5Y*
- 14.91%
- 10Y*
- 20.79%
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ALMRX vs. KMKAX - Expense Ratio Comparison
ALMRX has a 1.44% expense ratio, which is lower than KMKAX's 1.65% expense ratio.
Return for Risk
ALMRX vs. KMKAX — Risk / Return Rank
ALMRX
KMKAX
ALMRX vs. KMKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger MidCap Growth Institutional Fund (ALMRX) and Kinetics Market Opportunities Fund (KMKAX). 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.
| ALMRX | KMKAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.31 | +0.48 |
Sortino ratioReturn per unit of downside risk | 1.25 | 0.60 | +0.65 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.08 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.15 | 0.41 | +0.74 |
Martin ratioReturn relative to average drawdown | 3.92 | 0.76 | +3.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALMRX | KMKAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.31 | +0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.57 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | 0.89 | -0.59 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.56 | -0.39 |
Correlation
The correlation between ALMRX and KMKAX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
ALMRX vs. KMKAX - Dividend Comparison
ALMRX has not paid dividends to shareholders, while KMKAX's dividend yield for the trailing twelve months is around 0.50%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALMRX Alger MidCap Growth Institutional Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 77.91% | 12.19% | 8.56% | 7.91% | 0.00% |
KMKAX Kinetics Market Opportunities Fund | 0.50% | 0.61% | 0.66% | 0.69% | 1.19% | 1.29% | 0.02% | 0.07% | 9.28% | 0.51% |
Drawdowns
ALMRX vs. KMKAX - Drawdown Comparison
The maximum ALMRX drawdown since its inception was -73.80%, which is greater than KMKAX's maximum drawdown of -65.57%. Use the drawdown chart below to compare losses from any high point for ALMRX and KMKAX.
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Drawdown Indicators
| ALMRX | KMKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.80% | -65.57% | -8.23% |
Max Drawdown (1Y)Largest decline over 1 year | -16.06% | -19.64% | +3.58% |
Max Drawdown (5Y)Largest decline over 5 years | -64.01% | -31.56% | -32.45% |
Max Drawdown (10Y)Largest decline over 10 years | -64.01% | -31.56% | -32.45% |
Current DrawdownCurrent decline from peak | -40.58% | -10.45% | -30.13% |
Average DrawdownAverage peak-to-trough decline | -22.14% | -15.53% | -6.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.72% | 10.65% | -5.93% |
Volatility
ALMRX vs. KMKAX - Volatility Comparison
Alger MidCap Growth Institutional Fund (ALMRX) has a higher volatility of 7.91% compared to Kinetics Market Opportunities Fund (KMKAX) at 7.05%. This indicates that ALMRX's price experiences larger fluctuations and is considered to be riskier than KMKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALMRX | KMKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.91% | 7.05% | +0.86% |
Volatility (6M)Calculated over the trailing 6-month period | 14.99% | 17.86% | -2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.51% | 24.60% | -0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.59% | 26.44% | +22.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.73% | 23.39% | +14.34% |