ALTEX vs. ARKVX

Last updated Jun 23, 2026

ALTEX (Firsthand Alternative Energy Fund) and ARKVX (ARK Venture Fund) are both Technology Equities funds. Over the past 3 years, ALTEX returned 13.92%/yr vs 39.03%/yr for ARKVX. A 0.62 correlation means they provide meaningful diversification when combined. ALTEX charges 1.98%/yr vs 3.50%/yr for ARKVX.

Performance

ALTEX vs. ARKVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Firsthand Alternative Energy Fund (ALTEX) and ARK Venture Fund (ARKVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALTEX achieves a 63.25% return, which is significantly higher than ARKVX's 21.01% return.

ALTEX

• 1D: 5.41%
• 1M: 0.42%
• YTD: 63.25%
• 6M: 57.36%
• 1Y: 80.70%
• 3Y*: 13.92%
• 5Y*: 4.59%
• 10Y*: 14.08%

ARKVX

• 1D: 0.00%
• 1M: 12.35%
• YTD: 21.01%
• 6M: 21.38%
• 1Y: 82.07%
• 3Y*: 39.03%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ALTEX vs. ARKVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ALTEX Firsthand Alternative Energy Fund	63.25%	6.62%	-6.79%	-2.31%	3.30%
ARKVX ARK Venture Fund	21.01%	55.68%	6.69%	61.25%	-6.24%

Correlation

The correlation between ALTEX and ARKVX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 7, 2022	0.62

The correlation between ALTEX and ARKVX shifts across timeframes, from 0.48 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ALTEX vs. ARKVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ALTEX

ALTEX Risk / Return Rank: 48
ALTEX Sharpe Ratio Rank: 56
ALTEX Sortino Ratio Rank: 36
ALTEX Omega Ratio Rank: 48
ALTEX Calmar Ratio Rank: 62
ALTEX Martin Ratio Rank: 36

ARKVX

ARKVX Risk / Return Rank: 99
ARKVX Sharpe Ratio Rank: 99
ARKVX Sortino Ratio Rank: 100
ARKVX Omega Ratio Rank: 99
ARKVX Calmar Ratio Rank: 99
ARKVX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ALTEX vs. ARKVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Firsthand Alternative Energy Fund (ALTEX) and ARK Venture Fund (ARKVX). 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.

	ALTEX	ARKVX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	4.51	-2.48
Sortino ratio: Return per unit of downside risk	2.33	11.82	-9.48
Omega ratio: Gain probability vs. loss probability	1.35	2.49	-1.14
Calmar ratio: Return relative to maximum drawdown	2.89	10.62	-7.73
Martin ratio: Return relative to average drawdown	7.56	40.41	-32.86

ALTEX vs. ARKVX - Sharpe Ratio Comparison

The current ALTEX Sharpe Ratio is 2.03, which is lower than the ARKVX Sharpe Ratio of 4.51. The chart below compares the historical Sharpe Ratios of ALTEX and ARKVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALTEX vs. ARKVX - Drawdown Comparison

The maximum ALTEX drawdown since its inception was -75.48%, which is greater than ARKVX's maximum drawdown of -19.10%. Use the drawdown chart below to compare losses from any high point for ALTEX and ARKVX.

Drawdown Indicators

	ALTEX	ARKVX	Difference
Max Drawdown Largest peak-to-trough decline	-75.48%	-19.10%	-56.38%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-8.14%	-20.77%
Max Drawdown (3Y) Largest decline over 3 years	-68.78%	-19.10%	-49.68%
Max Drawdown (5Y) Largest decline over 5 years	-75.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-75.48%	—	—
Current Drawdown Current decline from peak	-2.13%	-0.46%	-1.67%
Average Drawdown Average peak-to-trough decline	-37.18%	-4.15%	-33.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.88%	2.10%	+8.78%

Volatility

ALTEX vs. ARKVX - Volatility Comparison

Firsthand Alternative Energy Fund (ALTEX) has a higher volatility of 15.35% compared to ARK Venture Fund (ARKVX) at 6.26%. This indicates that ALTEX's price experiences larger fluctuations and is considered to be riskier than ARKVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALTEX	ARKVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.35%	6.26%	+9.09%
Volatility (6M) Calculated over the trailing 6-month period	34.95%	14.00%	+20.95%
Volatility (1Y) Calculated over the trailing 1-year period	41.24%	19.16%	+22.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.33%	18.74%	+49.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.48%	18.74%	+32.74%

ALTEX vs. ARKVX - Expense Ratio Comparison

ALTEX has a 1.98% expense ratio, which is lower than ARKVX's 3.50% expense ratio.

Dividends

ALTEX vs. ARKVX - Dividend Comparison

Neither ALTEX nor ARKVX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALTEX Firsthand Alternative Energy Fund	0.00%	0.00%	1.50%	3.43%	0.00%	0.00%	0.00%	9.12%	0.05%	0.25%
ARKVX ARK Venture Fund	0.00%	0.00%	0.32%	0.72%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ALTEX and ARKVX in my portfolio?

ALTEX and ARKVX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALTEX or ARKVX?

ALTEX has higher volatility (15.35%) compared to ARKVX (6.26%). In terms of maximum drawdown, ALTEX dropped -75.48% vs ARKVX's -19.10%.

Which has better risk-adjusted returns?

ARKVX currently has the higher Sharpe Ratio (4.51 vs 2.03), 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.