ALTEX vs. UPUPX

Last updated Jun 4, 2026

ALTEX (Firsthand Alternative Energy Fund) and UPUPX (Upright Growth Fund) are both Technology Equities funds. Over the past 10 years, ALTEX returned 14.28%/yr vs 8.11%/yr for UPUPX. A 0.65 correlation means they provide meaningful diversification when combined. ALTEX charges 1.98%/yr vs 2.09%/yr for UPUPX.

Performance

ALTEX vs. UPUPX - Performance Comparison

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

Returns By Period

In the year-to-date period, ALTEX achieves a 66.80% return, which is significantly higher than UPUPX's 61.45% return. Over the past 10 years, ALTEX has outperformed UPUPX with an annualized return of 14.28%, while UPUPX has yielded a comparatively lower 8.11% annualized return.

ALTEX

• 1D: 6.08%
• 1M: 7.97%
• YTD: 66.80%
• 6M: 37.64%
• 1Y: 87.90%
• 3Y*: 15.23%
• 5Y*: 5.82%
• 10Y*: 14.28%

UPUPX

• 1D: 4.14%
• 1M: 32.17%
• YTD: 61.45%
• 6M: 63.25%
• 1Y: 99.34%
• 3Y*: 36.84%
• 5Y*: 11.94%
• 10Y*: 8.11%

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

ALTEX vs. UPUPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALTEX Firsthand Alternative Energy Fund	66.80%	6.62%	-6.79%	-2.31%	-18.26%	-5.09%	83.88%	55.04%	-18.56%	27.35%
UPUPX Upright Growth Fund	61.45%	20.83%	30.23%	8.10%	-45.66%	57.76%	108.70%	7.48%	-49.71%	-14.17%

Correlation

The correlation between ALTEX and UPUPX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Oct 31, 2007	0.65

The correlation between ALTEX and UPUPX has been stable across timeframes, ranging from 0.61 to 0.66 - a consistent structural relationship.

Return for Risk

ALTEX vs. UPUPX — Risk / Return Rank

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

ALTEX

ALTEX Risk / Return Rank: 56
ALTEX Sharpe Ratio Rank: 70
ALTEX Sortino Ratio Rank: 40
ALTEX Omega Ratio Rank: 53
ALTEX Calmar Ratio Rank: 74
ALTEX Martin Ratio Rank: 42

UPUPX

UPUPX Risk / Return Rank: 94
UPUPX Sharpe Ratio Rank: 98
UPUPX Sortino Ratio Rank: 90
UPUPX Omega Ratio Rank: 86
UPUPX Calmar Ratio Rank: 98
UPUPX Martin Ratio Rank: 97

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. UPUPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Firsthand Alternative Energy Fund (ALTEX) and Upright Growth Fund (UPUPX). 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.

	ALTEX	UPUPX	Difference
Sharpe ratio: Return per unit of total volatility	2.44	3.77	-1.33
Sortino ratio: Return per unit of downside risk	2.66	4.44	-1.79
Omega ratio: Gain probability vs. loss probability	1.40	1.59	-0.18
Calmar ratio: Return relative to maximum drawdown	3.37	8.49	-5.12
Martin ratio: Return relative to average drawdown	8.88	27.68	-18.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALTEX vs. UPUPX - Sharpe Ratio Comparison

The current ALTEX Sharpe Ratio is 2.44, which is lower than the UPUPX Sharpe Ratio of 3.77. The chart below compares the historical Sharpe Ratios of ALTEX and UPUPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ALTEX	UPUPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	3.77	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.38	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	0.24	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.16	-0.07

Drawdowns

ALTEX vs. UPUPX - Drawdown Comparison

The maximum ALTEX drawdown since its inception was -75.48%, roughly equal to the maximum UPUPX drawdown of -78.77%. Use the drawdown chart below to compare losses from any high point for ALTEX and UPUPX.

Drawdown Indicators

	ALTEX	UPUPX	Difference
Max Drawdown Largest peak-to-trough decline	-75.48%	-78.77%	+3.29%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-11.97%	-16.94%
Max Drawdown (3Y) Largest decline over 3 years	-68.78%	-33.68%	-35.10%
Max Drawdown (5Y) Largest decline over 5 years	-75.48%	-49.24%	-26.24%
Max Drawdown (10Y) Largest decline over 10 years	-75.48%	-75.55%	+0.07%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-37.26%	-32.10%	-5.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.75%	3.66%	+7.09%

Volatility

ALTEX vs. UPUPX - Volatility Comparison

Firsthand Alternative Energy Fund (ALTEX) and Upright Growth Fund (UPUPX) have volatilities of 12.96% and 12.98%, 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.

Volatility by Period

	ALTEX	UPUPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.96%	12.98%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	33.09%	21.21%	+11.88%
Volatility (1Y) Calculated over the trailing 1-year period	39.96%	26.94%	+13.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.12%	31.15%	+36.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.36%	33.96%	+17.40%

ALTEX vs. UPUPX - Expense Ratio Comparison

ALTEX has a 1.98% expense ratio, which is lower than UPUPX's 2.09% expense ratio.

Dividends

ALTEX vs. UPUPX - Dividend Comparison

ALTEX has not paid dividends to shareholders, while UPUPX's dividend yield for the trailing twelve months is around 5.23%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
UPUPX Upright Growth Fund	5.23%	8.45%	0.00%	2.12%	1.33%	3.85%	0.00%	0.00%	0.00%	3.53%	21.87%	5.39%

Frequently Asked Questions

Can I hold both ALTEX and UPUPX in my portfolio?

ALTEX and UPUPX have a correlation of 0.64, 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 UPUPX?

UPUPX has higher volatility (12.98%) compared to ALTEX (12.96%). In terms of maximum drawdown, ALTEX dropped -75.48% vs UPUPX's -78.77%.

Which has better risk-adjusted returns?

UPUPX currently has the higher Sharpe Ratio (3.77 vs 2.44), 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.