ALSRX vs. ACAAX
ALSRX (Alger SmallCap Growth Institutional Fund) and ACAAX (Alger Capital Appreciation Fund) are both mutual funds - ALSRX is a Small Cap Growth Equities fund managed by Alger, while ACAAX is a Large Cap Growth Equities fund managed by Alger. Over the past 10 years, ALSRX returned 9.48%/yr vs 18.41%/yr for ACAAX. Their correlation of 0.86 means they have usually moved in the same direction. ALSRX charges 1.24%/yr vs 1.15%/yr for ACAAX.
Performance
ALSRX vs. ACAAX - Performance Comparison
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Returns By Period
In the year-to-date period, ALSRX achieves a 17.90% return, which is significantly higher than ACAAX's 7.22% return. Over the past 10 years, ALSRX has underperformed ACAAX with an annualized return of 9.48%, while ACAAX has yielded a comparatively higher 18.41% annualized return.
ALSRX
- 1D
- 4.23%
- 1M
- 1.77%
- 6M
- 16.44%
- YTD
- 17.90%
- 1Y
- 30.59%
- 3Y*
- 10.80%
- 5Y*
- -3.12%
- 10Y*
- 9.48%
- ALL TIME*
- 6.62%
ACAAX
- 1D
- 4.66%
- 1M
- -3.07%
- 6M
- 9.41%
- YTD
- 7.22%
- 1Y
- 20.44%
- 3Y*
- 31.02%
- 5Y*
- 14.30%
- 10Y*
- 18.41%
- ALL TIME*
- 12.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
ALSRX vs. ACAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALSRX Alger SmallCap Growth Institutional Fund | 17.90% | 4.83% | 8.76% | 14.83% | -38.17% | -4.44% | 64.90% | 29.87% | -4.03% | 24.83% |
ACAAX Alger Capital Appreciation Fund | 7.22% | 30.80% | 49.55% | 42.99% | -36.90% | 18.17% | 41.78% | 33.14% | -0.95% | 31.31% |
Correlation
The correlation between ALSRX and ACAAX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997 | 0.86 |
The correlation between ALSRX and ACAAX shifts across timeframes, from 0.70 (3 years) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ALSRX vs. ACAAX — Risk / Return Rank
ALSRX
ACAAX
ALSRX vs. ACAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger SmallCap Growth Institutional Fund (ALSRX) and Alger Capital Appreciation Fund (ACAAX). 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.
| ALSRX | ACAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.15 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.26 | 1.01 | +0.25 |
| Martin ratioReturn relative to average drawdown | 4.13 | 3.04 | +1.09 |
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Drawdowns
ALSRX vs. ACAAX - Drawdown Comparison
The maximum ALSRX drawdown since its inception was -73.40%, roughly equal to the maximum ACAAX drawdown of -70.29%. Use the drawdown chart below to compare losses from any high point for ALSRX and ACAAX.
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Drawdown Indicators
| ALSRX | ACAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.40% | -70.29% | -3.11% |
Max Drawdown (1Y)Largest decline over 1 year | -21.23% | -19.11% | -2.12% |
Max Drawdown (3Y)Largest decline over 3 years | -33.53% | -27.79% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -53.46% | -48.73% | -4.73% |
Max Drawdown (10Y)Largest decline over 10 years | -55.04% | -48.73% | -6.31% |
Current DrawdownCurrent decline from peak | -22.55% | -7.56% | -14.99% |
Average DrawdownAverage peak-to-trough decline | -28.67% | -22.87% | -5.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.48% | 6.32% | +0.16% |
Volatility
ALSRX vs. ACAAX - Volatility Comparison
Alger SmallCap Growth Institutional Fund (ALSRX) has a higher volatility of 8.37% compared to Alger Capital Appreciation Fund (ACAAX) at 7.92%. This indicates that ALSRX's price experiences larger fluctuations and is considered to be riskier than ACAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALSRX | ACAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.37% | 7.92% | +0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 21.57% | 18.81% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.53% | 23.74% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.99% | 29.36% | +0.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 25.62% | +1.35% |
ALSRX vs. ACAAX - Expense Ratio Comparison
ALSRX has a 1.24% expense ratio, which is higher than ACAAX's 1.15% expense ratio.
Dividends
ALSRX vs. ACAAX - Dividend Comparison
ALSRX's dividend yield for the trailing twelve months is around 2.38%, less than ACAAX's 9.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACAAX Alger Capital Appreciation Fund | 9.14% | 9.80% | 12.93% | 7.19% | 4.42% | 23.67% | 15.64% | 8.17% | 11.59% | 6.76% | 0.84% | 8.28% |
ALSRX Alger SmallCap Growth Institutional Fund | 2.38% | 2.80% | 1.99% | 0.00% | 0.00% | 23.64% | 5.23% | 20.07% | 11.31% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ALSRX and ACAAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALSRX has higher volatility (8.37%) compared to ACAAX (7.92%). In terms of maximum drawdown, ALSRX dropped -73.40% vs ACAAX's -70.29%.
ALSRX currently has the higher Sharpe Ratio (1.01 vs 0.81), 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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