ALZFX vs. SWTSX

Last updated Jun 4, 2026

ALZFX (Alger Focus Equity Fund Class Z) and SWTSX (Schwab Total Stock Market Index Fund) are both mutual funds - ALZFX is a Large Cap Growth Equities fund actively managed by Alger, while SWTSX is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Total Stock Market Index. ALZFX is actively managed, while SWTSX is passively managed. Over the past 10 years, ALZFX returned 22.17%/yr vs 15.07%/yr for SWTSX. Their correlation of 0.89 suggests significant overlap in exposure. ALZFX charges 0.63%/yr vs 0.03%/yr for SWTSX.

Performance

ALZFX vs. SWTSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Focus Equity Fund Class Z (ALZFX) and Schwab Total Stock Market Index Fund (SWTSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ALZFX achieves a 17.28% return, which is significantly higher than SWTSX's 12.02% return. Over the past 10 years, ALZFX has outperformed SWTSX with an annualized return of 22.17%, while SWTSX has yielded a comparatively lower 15.07% annualized return.

ALZFX

• 1D: -0.55%
• 1M: 8.97%
• YTD: 17.28%
• 6M: 16.89%
• 1Y: 50.75%
• 3Y*: 42.04%
• 5Y*: 21.20%
• 10Y*: 22.17%

SWTSX

• 1D: 0.22%
• 1M: 5.76%
• YTD: 12.02%
• 6M: 11.94%
• 1Y: 29.06%
• 3Y*: 22.36%
• 5Y*: 13.04%
• 10Y*: 15.07%

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

ALZFX vs. SWTSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ALZFX Alger Focus Equity Fund Class Z	17.28%	40.08%	52.22%	44.63%	-35.75%	20.37%	46.19%	34.29%	1.68%	29.12%
SWTSX Schwab Total Stock Market Index Fund	12.02%	17.04%	23.84%	26.05%	-19.54%	25.65%	20.71%	30.90%	-5.35%	21.08%

Correlation

The correlation between ALZFX and SWTSX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.89

The correlation between ALZFX and SWTSX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

Return for Risk

ALZFX vs. SWTSX — Risk / Return Rank

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

ALZFX

ALZFX Risk / Return Rank: 58
ALZFX Sharpe Ratio Rank: 73
ALZFX Sortino Ratio Rank: 54
ALZFX Omega Ratio Rank: 52
ALZFX Calmar Ratio Rank: 62
ALZFX Martin Ratio Rank: 50

SWTSX

SWTSX Risk / Return Rank: 71
SWTSX Sharpe Ratio Rank: 71
SWTSX Sortino Ratio Rank: 63
SWTSX Omega Ratio Rank: 63
SWTSX Calmar Ratio Rank: 75
SWTSX Martin Ratio Rank: 82

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. SWTSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Focus Equity Fund Class Z (ALZFX) and Schwab Total Stock Market Index Fund (SWTSX). 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	SWTSX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.45	+0.02
Sortino ratio: Return per unit of downside risk	3.12	3.33	-0.21
Omega ratio: Gain probability vs. loss probability	1.40	1.44	-0.05
Calmar ratio: Return relative to maximum drawdown	3.03	3.38	-0.36
Martin ratio: Return relative to average drawdown	10.32	15.52	-5.20
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. SWTSX - Sharpe Ratio Comparison

The current ALZFX Sharpe Ratio is 2.47, which is comparable to the SWTSX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of ALZFX and SWTSX, 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

	ALZFX	SWTSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.45	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.75	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.81	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	0.44	+0.48

Drawdowns

ALZFX vs. SWTSX - Drawdown Comparison

The maximum ALZFX drawdown since its inception was -43.22%, smaller than the maximum SWTSX drawdown of -54.60%. Use the drawdown chart below to compare losses from any high point for ALZFX and SWTSX.

Drawdown Indicators

	ALZFX	SWTSX	Difference
Max Drawdown Largest peak-to-trough decline	-43.22%	-54.60%	+11.38%
Max Drawdown (1Y) Largest decline over 1 year	-17.45%	-8.88%	-8.57%
Max Drawdown (3Y) Largest decline over 3 years	-26.93%	-19.43%	-7.50%
Max Drawdown (5Y) Largest decline over 5 years	-43.22%	-25.40%	-17.82%
Max Drawdown (10Y) Largest decline over 10 years	-43.22%	-35.01%	-8.21%
Current Drawdown Current decline from peak	-0.55%	0.00%	-0.55%
Average Drawdown Average peak-to-trough decline	-7.53%	-10.57%	+3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.11%	1.93%	+3.18%

Volatility

ALZFX vs. SWTSX - Volatility Comparison

Alger Focus Equity Fund Class Z (ALZFX) has a higher volatility of 5.00% compared to Schwab Total Stock Market Index Fund (SWTSX) at 2.96%. This indicates that ALZFX's price experiences larger fluctuations and is considered to be riskier than SWTSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALZFX	SWTSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	2.96%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	16.02%	9.21%	+6.81%
Volatility (1Y) Calculated over the trailing 1-year period	21.37%	12.26%	+9.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.09%	17.44%	+8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.94%	18.61%	+5.33%

ALZFX vs. SWTSX - Expense Ratio Comparison

ALZFX has a 0.63% expense ratio, which is higher than SWTSX's 0.03% expense ratio.

Dividends

ALZFX vs. SWTSX - Dividend Comparison

ALZFX's dividend yield for the trailing twelve months is around 6.42%, more than SWTSX's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ALZFX Alger Focus Equity Fund Class Z	6.42%	7.53%	0.00%	0.12%	0.10%	13.63%	6.16%	2.21%	5.55%	0.00%	0.00%	0.00%
SWTSX Schwab Total Stock Market Index Fund	0.98%	1.10%	1.24%	1.41%	1.62%	1.46%	1.63%	1.92%	2.58%	1.83%	2.32%	2.79%

Frequently Asked Questions

Can I hold both ALZFX and SWTSX in my portfolio?

ALZFX and SWTSX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALZFX or SWTSX?

ALZFX has higher volatility (5.00%) compared to SWTSX (2.96%). In terms of maximum drawdown, ALZFX dropped -43.22% vs SWTSX's -54.60%.

Which has better risk-adjusted returns?

ALZFX currently has the higher Sharpe Ratio (2.47 vs 2.45), 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.