ALSRX vs. NCLEX
ALSRX (Alger SmallCap Growth Institutional Fund) and NCLEX (Nicholas Limited Edition Fund) are both Small Cap Growth Equities funds. Over the past 10 years, ALSRX returned 9.63%/yr vs 7.68%/yr for NCLEX. Their correlation of 0.85 means they have usually moved in the same direction. ALSRX charges 1.24%/yr vs 0.85%/yr for NCLEX.
Performance
ALSRX vs. NCLEX - 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 NCLEX's 0.43% return. Over the past 10 years, ALSRX has outperformed NCLEX with an annualized return of 9.63%, while NCLEX has yielded a comparatively lower 7.68% 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%
NCLEX
- 1D
- 0.43%
- 1M
- 0.63%
- 6M
- 0.12%
- YTD
- 0.43%
- 1Y
- -1.86%
- 3Y*
- 0.61%
- 5Y*
- -0.53%
- 10Y*
- 7.68%
- ALL TIME*
- 9.16%
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. NCLEX - 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% |
NCLEX Nicholas Limited Edition Fund | 0.43% | -10.41% | 11.91% | 17.17% | -23.71% | 19.07% | 22.67% | 27.36% | -0.94% | 19.93% |
Correlation
The correlation between ALSRX and NCLEX is 0.62, 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. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.78 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Nov 8, 1993 | 0.85 |
Over the past year, the correlation between ALSRX and NCLEX has dropped to 0.62 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.
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Return for Risk
ALSRX vs. NCLEX — Risk / Return Rank
ALSRX
NCLEX
ALSRX vs. NCLEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger SmallCap Growth Institutional Fund (ALSRX) and Nicholas Limited Edition Fund (NCLEX). 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 | NCLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.98 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.16 | +1.52 |
| Martin ratioReturn relative to average drawdown | 4.46 | -0.32 | +4.77 |
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Drawdowns
ALSRX vs. NCLEX - Drawdown Comparison
The maximum ALSRX drawdown since its inception was -73.40%, which is greater than NCLEX's maximum drawdown of -48.68%. Use the drawdown chart below to compare losses from any high point for ALSRX and NCLEX.
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Drawdown Indicators
| ALSRX | NCLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.40% | -48.68% | -24.72% |
Max Drawdown (1Y)Largest decline over 1 year | -21.23% | -20.88% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -33.53% | -28.50% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -53.46% | -28.50% | -24.96% |
Max Drawdown (10Y)Largest decline over 10 years | -55.04% | -35.79% | -19.25% |
Current DrawdownCurrent decline from peak | -22.44% | -15.98% | -6.46% |
Average DrawdownAverage peak-to-trough decline | -28.67% | -8.32% | -20.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.48% | 10.65% | -4.17% |
Volatility
ALSRX vs. NCLEX - Volatility Comparison
Alger SmallCap Growth Institutional Fund (ALSRX) has a higher volatility of 8.21% compared to Nicholas Limited Edition Fund (NCLEX) at 4.95%. This indicates that ALSRX's price experiences larger fluctuations and is considered to be riskier than NCLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALSRX | NCLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.21% | 4.95% | +3.26% |
Volatility (6M)Calculated over the trailing 6-month period | 21.51% | 12.76% | +8.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.47% | 17.31% | +9.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.98% | 19.62% | +10.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.97% | 19.22% | +7.75% |
ALSRX vs. NCLEX - Expense Ratio Comparison
ALSRX has a 1.24% expense ratio, which is higher than NCLEX's 0.85% expense ratio.
Dividends
ALSRX vs. NCLEX - Dividend Comparison
ALSRX's dividend yield for the trailing twelve months is around 2.37%, less than NCLEX's 7.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALSRX Alger SmallCap Growth Institutional Fund | 2.37% | 2.80% | 1.99% | 0.00% | 0.00% | 23.64% | 5.23% | 20.07% | 11.31% | 0.00% | 0.00% | 0.00% |
NCLEX Nicholas Limited Edition Fund | 7.50% | 7.53% | 2.51% | 2.43% | 6.22% | 16.44% | 5.10% | 5.66% | 10.72% | 7.97% | 10.68% | 8.05% |
Frequently Asked Questions
ALSRX and NCLEX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALSRX has higher volatility (8.21%) compared to NCLEX (4.95%). In terms of maximum drawdown, ALSRX dropped -73.40% vs NCLEX's -48.68%.
ALSRX currently has the higher Sharpe Ratio (1.09 vs -0.20), 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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