BFOCX vs. ALTEX

Last updated Apr 1, 2026

Compare and contrast key facts about Berkshire Focus Fund (BFOCX) and Firsthand Alternative Energy Fund (ALTEX).

BFOCX is managed by Berkshire. It was launched on Jun 30, 1997. ALTEX is managed by Firsthand Funds. It was launched on Oct 28, 2007.

Performance

BFOCX vs. ALTEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Focus Fund (BFOCX) and Firsthand Alternative Energy Fund (ALTEX). The values are adjusted to include any dividend payments, if applicable.

BFOCX vs. ALTEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFOCX Berkshire Focus Fund	-7.50%	28.67%	59.16%	50.20%	-65.06%	-1.79%	90.81%	40.56%	10.04%	44.10%
ALTEX Firsthand Alternative Energy Fund	9.56%	6.62%	-6.79%	-2.31%	-18.26%	-5.09%	83.88%	55.04%	-18.56%	27.35%

Returns By Period

In the year-to-date period, BFOCX achieves a -7.50% return, which is significantly lower than ALTEX's 9.56% return. Over the past 10 years, BFOCX has outperformed ALTEX with an annualized return of 16.09%, while ALTEX has yielded a comparatively lower 8.92% annualized return.

BFOCX

• 1D: -5.71%
• 1M: -5.71%
• YTD: -7.50%
• 6M: -11.79%
• 1Y: 48.53%
• 3Y*: 32.48%
• 5Y*: 0.99%
• 10Y*: 16.09%

ALTEX

• 1D: -4.06%
• 1M: -10.18%
• YTD: 9.56%
• 6M: -9.08%
• 1Y: 41.48%
• 3Y*: -1.40%
• 5Y*: -4.12%
• 10Y*: 8.92%

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

BFOCX vs. ALTEX - Expense Ratio Comparison

BFOCX has a 1.94% expense ratio, which is lower than ALTEX's 1.98% expense ratio.

ALTEX

Firsthand Alternative Energy Fund

BFOCX

Berkshire Focus Fund

Return for Risk

BFOCX vs. ALTEX — Risk / Return Rank

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

BFOCX

BFOCX Risk / Return Rank: 70
BFOCX Sharpe Ratio Rank: 65
BFOCX Sortino Ratio Rank: 68
BFOCX Omega Ratio Rank: 61
BFOCX Calmar Ratio Rank: 88
BFOCX Martin Ratio Rank: 69

ALTEX

ALTEX Risk / Return Rank: 52
ALTEX Sharpe Ratio Rank: 61
ALTEX Sortino Ratio Rank: 55
ALTEX Omega Ratio Rank: 58
ALTEX Calmar Ratio Rank: 55
ALTEX Martin Ratio Rank: 32

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.

BFOCX vs. ALTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Focus Fund (BFOCX) and Firsthand Alternative Energy Fund (ALTEX). 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.

	BFOCX	ALTEX	Difference
Sharpe ratio Return per unit of total volatility	1.13	1.10	+0.03
Sortino ratio Return per unit of downside risk	1.67	1.49	+0.17
Omega ratio Gain probability vs. loss probability	1.23	1.23	0.00
Calmar ratio Return relative to maximum drawdown	2.31	1.31	+1.01
Martin ratio Return relative to average drawdown	6.55	3.48	+3.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFOCX vs. ALTEX - Sharpe Ratio Comparison

The current BFOCX Sharpe Ratio is 1.13, which is comparable to the ALTEX Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of BFOCX and ALTEX, 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

	BFOCX	ALTEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	1.10	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.00	-0.06	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.02	0.18	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.02	0.03	-0.02

Correlation

The correlation between BFOCX and ALTEX is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BFOCX vs. ALTEX - Dividend Comparison

Neither BFOCX nor ALTEX has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFOCX Berkshire Focus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	19.54%	21.20%	14.20%	5.70%	21.73%	0.14%	9.52%
ALTEX Firsthand Alternative Energy Fund	0.00%	0.00%	1.50%	3.43%	0.00%	0.00%	0.00%	9.12%	0.05%	0.25%	0.00%	0.00%

Drawdowns

BFOCX vs. ALTEX - Drawdown Comparison

The maximum BFOCX drawdown since its inception was -97.42%, which is greater than ALTEX's maximum drawdown of -75.48%. Use the drawdown chart below to compare losses from any high point for BFOCX and ALTEX.

Drawdown Indicators

	BFOCX	ALTEX	Difference
Max Drawdown Largest peak-to-trough decline	-97.42%	-75.48%	-21.94%
Max Drawdown (1Y) Largest decline over 1 year	-17.75%	-28.91%	+11.16%
Max Drawdown (5Y) Largest decline over 5 years	-97.42%	-75.48%	-21.94%
Max Drawdown (10Y) Largest decline over 10 years	-97.42%	-75.48%	-21.94%
Current Drawdown Current decline from peak	-95.53%	-27.66%	-67.87%
Average Drawdown Average peak-to-trough decline	-61.72%	-37.55%	-24.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.27%	10.86%	-4.59%

Volatility

BFOCX vs. ALTEX - Volatility Comparison

Berkshire Focus Fund (BFOCX) has a higher volatility of 15.41% compared to Firsthand Alternative Energy Fund (ALTEX) at 11.76%. This indicates that BFOCX's price experiences larger fluctuations and is considered to be riskier than ALTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFOCX	ALTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.41%	11.76%	+3.65%
Volatility (6M) Calculated over the trailing 6-month period	28.97%	32.97%	-4.00%
Volatility (1Y) Calculated over the trailing 1-year period	41.73%	38.72%	+3.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1,099.58%	67.75%	+1,031.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	777.66%	51.07%	+726.59%