ALVOX vs. SMH
Compare and contrast key facts about Alger Capital Appreciation Portfolio (ALVOX) and VanEck Vectors Semiconductor ETF (SMH).
ALVOX is managed by Alger. It was launched on Jan 25, 1995. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ALVOX or SMH.
Key characteristics
| ALVOX | SMH | |
|---|---|---|
| YTD Return | 22.87% | 28.24% |
| 1Y Return | 33.97% | 45.78% |
| 3Y Return (Ann) | 3.59% | 19.57% |
| 5Y Return (Ann) | 15.48% | 33.38% |
| 10Y Return (Ann) | 13.84% | 27.37% |
| Sharpe Ratio | 1.68 | 1.33 |
| Daily Std Dev | 19.33% | 33.26% |
| Max Drawdown | -55.11% | -95.73% |
| Current Drawdown | -8.20% | -20.27% |
Correlation
The correlation between ALVOX and SMH is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ALVOX vs. SMH - Performance Comparison
In the year-to-date period, ALVOX achieves a 22.87% return, which is significantly lower than SMH's 28.24% return. Over the past 10 years, ALVOX has underperformed SMH with an annualized return of 13.84%, while SMH has yielded a comparatively higher 27.37% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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ALVOX vs. SMH - Expense Ratio Comparison
ALVOX has a 0.91% expense ratio, which is higher than SMH's 0.35% expense ratio.
Risk-Adjusted Performance
ALVOX vs. SMH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Capital Appreciation Portfolio (ALVOX) and VanEck Vectors Semiconductor ETF (SMH). 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.
Dividends
ALVOX vs. SMH - Dividend Comparison
ALVOX has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.46%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALVOX Alger Capital Appreciation Portfolio | 0.00% | 0.00% | 9.84% | 25.94% | 14.64% | 12.19% | 21.59% | 6.47% | 0.98% | 12.50% | 17.11% | 11.76% |
SMH VanEck Vectors Semiconductor ETF | 0.46% | 0.60% | 2.37% | 1.02% | 1.38% | 6.00% | 3.75% | 2.85% | 1.61% | 4.28% | 2.31% | 3.11% |
Drawdowns
ALVOX vs. SMH - Drawdown Comparison
The maximum ALVOX drawdown since its inception was -55.11%, smaller than the maximum SMH drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for ALVOX and SMH. For additional features, visit the drawdowns tool.
Volatility
ALVOX vs. SMH - Volatility Comparison
The current volatility for Alger Capital Appreciation Portfolio (ALVOX) is 7.02%, while VanEck Vectors Semiconductor ETF (SMH) has a volatility of 13.74%. This indicates that ALVOX experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.