ATVPX vs. OPTFX

Last updated Jun 5, 2026

ATVPX (Alger 35 Fund) and OPTFX (Invesco Capital Appreciation Fund) are both Large Cap Growth Equities funds. Over the past 5 years, ATVPX returned 15.78%/yr vs 12.07%/yr for OPTFX. Their correlation of 0.92 suggests significant overlap in exposure. ATVPX charges 0.55%/yr vs 0.95%/yr for OPTFX.

Performance

ATVPX vs. OPTFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger 35 Fund (ATVPX) and Invesco Capital Appreciation Fund (OPTFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATVPX achieves a 19.42% return, which is significantly higher than OPTFX's 10.57% return.

ATVPX

• 1D: -1.40%
• 1M: 8.55%
• YTD: 19.42%
• 6M: 17.52%
• 1Y: 48.29%
• 3Y*: 39.55%
• 5Y*: 15.78%
• 10Y*: —

OPTFX

• 1D: -0.58%
• 1M: 4.30%
• YTD: 10.57%
• 6M: 9.78%
• 1Y: 23.89%
• 3Y*: 23.72%
• 5Y*: 12.07%
• 10Y*: 15.73%

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

ATVPX vs. OPTFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ATVPX Alger 35 Fund	19.42%	32.51%	50.84%	31.41%	-36.36%	10.91%	68.05%	14.00%
OPTFX Invesco Capital Appreciation Fund	10.57%	12.84%	34.05%	35.51%	-31.10%	21.42%	36.33%	18.78%

Correlation

The correlation between ATVPX and OPTFX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Mar 18, 2019	0.92

The correlation between ATVPX and OPTFX shifts across timeframes, from 0.81 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ATVPX vs. OPTFX — Risk / Return Rank

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

ATVPX

ATVPX Risk / Return Rank: 54
ATVPX Sharpe Ratio Rank: 60
ATVPX Sortino Ratio Rank: 48
ATVPX Omega Ratio Rank: 48
ATVPX Calmar Ratio Rank: 64
ATVPX Martin Ratio Rank: 51

OPTFX

OPTFX Risk / Return Rank: 23
OPTFX Sharpe Ratio Rank: 26
OPTFX Sortino Ratio Rank: 24
OPTFX Omega Ratio Rank: 24
OPTFX Calmar Ratio Rank: 20
OPTFX Martin Ratio Rank: 21

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.

ATVPX vs. OPTFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger 35 Fund (ATVPX) and Invesco Capital Appreciation Fund (OPTFX). 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.

	ATVPX	OPTFX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.45	+0.81
Sortino ratio: Return per unit of downside risk	2.88	2.06	+0.82
Omega ratio: Gain probability vs. loss probability	1.37	1.26	+0.11
Calmar ratio: Return relative to maximum drawdown	3.01	1.64	+1.38
Martin ratio: Return relative to average drawdown	10.28	5.26	+5.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ATVPX vs. OPTFX - Sharpe Ratio Comparison

The current ATVPX Sharpe Ratio is 2.26, which is higher than the OPTFX Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of ATVPX and OPTFX, 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

	ATVPX	OPTFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	1.45	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.56	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.52	+0.19

Drawdowns

ATVPX vs. OPTFX - Drawdown Comparison

The maximum ATVPX drawdown since its inception was -53.35%, smaller than the maximum OPTFX drawdown of -57.95%. Use the drawdown chart below to compare losses from any high point for ATVPX and OPTFX.

Drawdown Indicators

	ATVPX	OPTFX	Difference
Max Drawdown Largest peak-to-trough decline	-53.35%	-57.95%	+4.60%
Max Drawdown (1Y) Largest decline over 1 year	-16.74%	-16.85%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-28.19%	-26.46%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-53.35%	-35.89%	-17.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.89%	—
Current Drawdown Current decline from peak	-1.94%	-0.58%	-1.36%
Average Drawdown Average peak-to-trough decline	-17.97%	-13.99%	-3.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.89%	4.99%	-0.10%

Volatility

ATVPX vs. OPTFX - Volatility Comparison

Alger 35 Fund (ATVPX) has a higher volatility of 5.93% compared to Invesco Capital Appreciation Fund (OPTFX) at 5.28%. This indicates that ATVPX's price experiences larger fluctuations and is considered to be riskier than OPTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATVPX	OPTFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	5.28%	+0.65%
Volatility (6M) Calculated over the trailing 6-month period	17.05%	15.45%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	22.35%	19.02%	+3.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.45%	22.27%	+11.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.73%	21.46%	+10.27%

ATVPX vs. OPTFX - Expense Ratio Comparison

ATVPX has a 0.55% expense ratio, which is lower than OPTFX's 0.95% expense ratio.

Dividends

ATVPX vs. OPTFX - Dividend Comparison

ATVPX's dividend yield for the trailing twelve months is around 17.80%, more than OPTFX's 9.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATVPX Alger 35 Fund	17.80%	21.25%	0.00%	0.00%	0.02%	36.00%	17.24%	0.17%	0.00%	0.00%	0.00%	0.00%
OPTFX Invesco Capital Appreciation Fund	9.88%	10.93%	2.92%	0.00%	0.88%	28.43%	3.20%	23.53%	9.18%	9.34%	4.29%	13.78%

Frequently Asked Questions

Can I hold both ATVPX and OPTFX in my portfolio?

ATVPX and OPTFX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATVPX or OPTFX?

ATVPX has higher volatility (5.93%) compared to OPTFX (5.28%). In terms of maximum drawdown, ATVPX dropped -53.35% vs OPTFX's -57.95%.

Which has better risk-adjusted returns?

ATVPX currently has the higher Sharpe Ratio (2.26 vs 1.45), 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.