ALSRX vs. ALAFX
ALSRX (Alger SmallCap Growth Institutional Fund) and ALAFX (Alger Focus Equity A Fund) are both mutual funds - ALSRX is a Small Cap Growth Equities fund managed by Alger, while ALAFX is a Large Cap Growth Equities fund actively managed by Alger. Over the past 10 years, ALSRX returned 9.63%/yr vs 20.74%/yr for ALAFX. Their correlation of 0.81 means they have usually moved in the same direction. ALSRX charges 1.24%/yr vs 0.95%/yr for ALAFX.
Performance
ALSRX vs. ALAFX - Performance Comparison
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Returns By Period
In the year-to-date period, ALSRX achieves a 18.07% return, which is significantly higher than ALAFX's 10.07% return. Over the past 10 years, ALSRX has underperformed ALAFX with an annualized return of 9.63%, while ALAFX has yielded a comparatively higher 20.74% annualized return.
ALSRX
- 1D
- 0.15%
- 1M
- 1.92%
- 6M
- 15.63%
- YTD
- 18.07%
- 1Y
- 30.78%
- 3Y*
- 11.11%
- 5Y*
- -3.09%
- 10Y*
- 9.63%
- ALL TIME*
- 6.63%
ALAFX
- 1D
- 1.23%
- 1M
- -2.51%
- 6M
- 11.38%
- YTD
- 10.07%
- 1Y
- 27.16%
- 3Y*
- 35.48%
- 5Y*
- 17.45%
- 10Y*
- 20.74%
- ALL TIME*
- 18.96%
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. ALAFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALSRX Alger SmallCap Growth Institutional Fund | 18.07% | 4.83% | 8.76% | 14.83% | -38.17% | -4.44% | 64.90% | 29.87% | -4.03% | 24.83% |
ALAFX Alger Focus Equity A Fund | 10.07% | 39.65% | 51.72% | 44.15% | -35.95% | 20.00% | 45.73% | 33.84% | 1.33% | 28.70% |
Correlation
The correlation between ALSRX and ALAFX is 0.73, 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. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.71 |
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, 2013 | 0.81 |
The correlation between ALSRX and ALAFX has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
ALSRX vs. ALAFX — Risk / Return Rank
ALSRX
ALAFX
ALSRX vs. ALAFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger SmallCap Growth Institutional Fund (ALSRX) and Alger Focus Equity A Fund (ALAFX). 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 | ALAFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.37 | -0.01 |
| Martin ratioReturn relative to average drawdown | 4.46 | 4.27 | +0.18 |
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Drawdowns
ALSRX vs. ALAFX - Drawdown Comparison
The maximum ALSRX drawdown since its inception was -73.40%, which is greater than ALAFX's maximum drawdown of -43.65%. Use the drawdown chart below to compare losses from any high point for ALSRX and ALAFX.
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Drawdown Indicators
| ALSRX | ALAFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.40% | -43.65% | -29.75% |
Max Drawdown (1Y)Largest decline over 1 year | -21.23% | -17.58% | -3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -33.53% | -26.96% | -6.57% |
Max Drawdown (5Y)Largest decline over 5 years | -53.46% | -43.65% | -9.81% |
Max Drawdown (10Y)Largest decline over 10 years | -55.04% | -43.65% | -11.39% |
Current DrawdownCurrent decline from peak | -22.44% | -6.86% | -15.58% |
Average DrawdownAverage peak-to-trough decline | -28.67% | -7.65% | -21.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.48% | 5.62% | +0.86% |
Volatility
ALSRX vs. ALAFX - Volatility Comparison
Alger SmallCap Growth Institutional Fund (ALSRX) and Alger Focus Equity A Fund (ALAFX) have volatilities of 8.21% and 8.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALSRX | ALAFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.21% | 8.35% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 21.51% | 19.08% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | 24.15% | +2.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.98% | 26.70% | +3.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 24.24% | +2.73% |
ALSRX vs. ALAFX - Expense Ratio Comparison
ALSRX has a 1.24% expense ratio, which is higher than ALAFX's 0.95% expense ratio.
Dividends
ALSRX vs. ALAFX - Dividend Comparison
ALSRX's dividend yield for the trailing twelve months is around 2.37%, less than ALAFX's 7.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
ALAFX Alger Focus Equity A Fund | 7.19% | 7.91% | 0.00% | 0.10% | 0.06% | 14.09% | 6.28% | 1.98% | 5.41% |
ALSRX Alger SmallCap Growth Institutional Fund | 2.37% | 2.80% | 1.99% | 0.00% | 0.00% | 23.64% | 5.23% | 20.07% | 11.31% |
Frequently Asked Questions
ALSRX and ALAFX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALAFX has higher volatility (8.35%) compared to ALSRX (8.21%). In terms of maximum drawdown, ALSRX dropped -73.40% vs ALAFX's -43.65%.
ALSRX currently has the higher Sharpe Ratio (1.09 vs 1.00), 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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