AOFIX vs. IWO
Compare and contrast key facts about Alger Small Cap Focus Fund (AOFIX) and iShares Russell 2000 Growth ETF (IWO).
AOFIX is managed by Alger. It was launched on Mar 3, 2008. IWO is a passively managed fund by iShares that tracks the performance of the Russell 2000 Growth Index. It was launched on Jul 24, 2000.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AOFIX or IWO.
Key characteristics
| AOFIX | IWO | |
|---|---|---|
| YTD Return | 2.53% | 1.97% |
| 1Y Return | 11.08% | 17.70% |
| 3Y Return (Ann) | -14.88% | -4.29% |
| 5Y Return (Ann) | -1.38% | 5.21% |
| 10Y Return (Ann) | 7.23% | 8.09% |
| Sharpe Ratio | 0.46 | 0.82 |
| Daily Std Dev | 21.10% | 19.84% |
| Max Drawdown | -60.19% | -60.10% |
| Current Drawdown | -48.40% | -22.17% |
Correlation
The correlation between AOFIX and IWO is 0.92, 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
AOFIX vs. IWO - Performance Comparison
In the year-to-date period, AOFIX achieves a 2.53% return, which is significantly higher than IWO's 1.97% return. Over the past 10 years, AOFIX has underperformed IWO with an annualized return of 7.23%, while IWO has yielded a comparatively higher 8.09% 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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AOFIX vs. IWO - Expense Ratio Comparison
AOFIX has a 1.14% expense ratio, which is higher than IWO's 0.24% expense ratio.
Risk-Adjusted Performance
AOFIX vs. IWO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Small Cap Focus Fund (AOFIX) and iShares Russell 2000 Growth ETF (IWO). 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
AOFIX vs. IWO - Dividend Comparison
AOFIX has not paid dividends to shareholders, while IWO's dividend yield for the trailing twelve months is around 0.67%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOFIX Alger Small Cap Focus Fund | 0.00% | 0.00% | 0.00% | 6.94% | 0.00% | 2.36% | 0.85% | 0.00% | 0.00% | 0.00% | 8.98% | 0.00% |
IWO iShares Russell 2000 Growth ETF | 0.67% | 0.73% | 0.75% | 0.32% | 0.44% | 0.71% | 0.76% | 0.73% | 0.97% | 0.89% | 0.73% | 0.72% |
Drawdowns
AOFIX vs. IWO - Drawdown Comparison
The maximum AOFIX drawdown since its inception was -60.19%, roughly equal to the maximum IWO drawdown of -60.10%. Use the drawdown chart below to compare losses from any high point for AOFIX and IWO. For additional features, visit the drawdowns tool.
Volatility
AOFIX vs. IWO - Volatility Comparison
Alger Small Cap Focus Fund (AOFIX) has a higher volatility of 6.74% compared to iShares Russell 2000 Growth ETF (IWO) at 5.84%. This indicates that AOFIX's price experiences larger fluctuations and is considered to be riskier than IWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.