ALZFX vs. IWF

Last updated Apr 1, 2026

Compare and contrast key facts about Alger Focus Equity Fund Class Z (ALZFX) and iShares Russell 1000 Growth ETF (IWF).

ALZFX is an actively managed fund by Alger. It was launched on Nov 8, 1993. IWF is a passively managed fund by iShares that tracks the performance of the Russell 1000 Growth Index. It was launched on May 22, 2000.

Performance

ALZFX vs. IWF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Focus Equity Fund Class Z (ALZFX) and iShares Russell 1000 Growth ETF (IWF). The values are adjusted to include any dividend payments, if applicable.

ALZFX vs. IWF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALZFX Alger Focus Equity Fund Class Z	-13.58%	40.08%	52.22%	44.63%	-35.75%	20.37%	46.19%	34.29%	1.68%	29.12%
IWF iShares Russell 1000 Growth ETF	-9.83%	18.33%	33.12%	42.59%	-29.31%	27.43%	38.25%	35.86%	-1.67%	29.95%

Returns By Period

In the year-to-date period, ALZFX achieves a -13.58% return, which is significantly lower than IWF's -9.83% return. Over the past 10 years, ALZFX has outperformed IWF with an annualized return of 18.62%, while IWF has yielded a comparatively lower 16.53% annualized return.

ALZFX

• 1D: -1.70%
• 1M: -9.03%
• YTD: -13.58%
• 6M: -14.05%
• 1Y: 36.44%
• 3Y*: 32.41%
• 5Y*: 15.05%
• 10Y*: 18.62%

IWF

• 1D: 3.77%
• 1M: -5.20%
• YTD: -9.83%
• 6M: -8.80%
• 1Y: 18.54%
• 3Y*: 21.01%
• 5Y*: 12.22%
• 10Y*: 16.53%

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

ALZFX vs. IWF - Expense Ratio Comparison

ALZFX has a 0.63% expense ratio, which is higher than IWF's 0.19% expense ratio.

ALZFX

Alger Focus Equity Fund Class Z

IWF

iShares Russell 1000 Growth ETF

Return for Risk

ALZFX vs. IWF — Risk / Return Rank

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

ALZFX

ALZFX Risk / Return Rank: 73
ALZFX Sharpe Ratio Rank: 75
ALZFX Sortino Ratio Rank: 76
ALZFX Omega Ratio Rank: 68
ALZFX Calmar Ratio Rank: 79
ALZFX Martin Ratio Rank: 68

IWF

IWF Risk / Return Rank: 51
IWF Sharpe Ratio Rank: 50
IWF Sortino Ratio Rank: 55
IWF Omega Ratio Rank: 54
IWF Calmar Ratio Rank: 50
IWF Martin Ratio Rank: 45

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.

ALZFX vs. IWF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Focus Equity Fund Class Z (ALZFX) and iShares Russell 1000 Growth ETF (IWF). 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.

	ALZFX	IWF	Difference
Sharpe ratio Return per unit of total volatility	1.32	0.83	+0.49
Sortino ratio Return per unit of downside risk	1.91	1.35	+0.56
Omega ratio Gain probability vs. loss probability	1.26	1.19	+0.07
Calmar ratio Return relative to maximum drawdown	1.88	1.15	+0.73
Martin ratio Return relative to average drawdown	6.44	3.95	+2.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ALZFX vs. IWF - Sharpe Ratio Comparison

The current ALZFX Sharpe Ratio is 1.32, which is higher than the IWF Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of ALZFX and IWF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ALZFX	IWF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	0.83	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.57	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.79	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.36	+0.45

Correlation

The correlation between ALZFX and IWF is 0.96, 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.

Dividends

ALZFX vs. IWF - Dividend Comparison

ALZFX's dividend yield for the trailing twelve months is around 8.72%, more than IWF's 0.40% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALZFX Alger Focus Equity Fund Class Z	8.72%	7.53%	0.00%	0.12%	0.10%	13.63%	6.16%	2.21%	5.55%	0.00%	0.00%	0.00%
IWF iShares Russell 1000 Growth ETF	0.40%	0.36%	0.46%	0.67%	0.91%	0.49%	0.66%	0.99%	1.27%	1.10%	1.43%	1.37%

Drawdowns

ALZFX vs. IWF - Drawdown Comparison

The maximum ALZFX drawdown since its inception was -43.22%, smaller than the maximum IWF drawdown of -64.25%. Use the drawdown chart below to compare losses from any high point for ALZFX and IWF.

Drawdown Indicators

	ALZFX	IWF	Difference
Max Drawdown Largest peak-to-trough decline	-43.22%	-64.25%	+21.03%
Max Drawdown (1Y) Largest decline over 1 year	-17.45%	-16.27%	-1.18%
Max Drawdown (5Y) Largest decline over 5 years	-43.22%	-32.72%	-10.50%
Max Drawdown (10Y) Largest decline over 10 years	-43.22%	-32.72%	-10.50%
Current Drawdown Current decline from peak	-17.45%	-13.12%	-4.33%
Average Drawdown Average peak-to-trough decline	-7.60%	-22.21%	+14.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.09%	4.74%	+0.35%

Volatility

ALZFX vs. IWF - Volatility Comparison

Alger Focus Equity Fund Class Z (ALZFX) has a higher volatility of 7.56% compared to iShares Russell 1000 Growth ETF (IWF) at 6.74%. This indicates that ALZFX's price experiences larger fluctuations and is considered to be riskier than IWF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALZFX	IWF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	6.74%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	16.39%	12.36%	+4.03%
Volatility (1Y) Calculated over the trailing 1-year period	27.14%	22.40%	+4.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.99%	21.41%	+4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.80%	20.92%	+2.88%