BOGSX vs. ALTEX

Last updated Jun 5, 2026

BOGSX (Black Oak Emerging Technology Fund) and ALTEX (Firsthand Alternative Energy Fund) are both Technology Equities funds. Over the past 10 years, BOGSX returned 17.86%/yr vs 14.06%/yr for ALTEX. A 0.75 correlation means they provide meaningful diversification when combined. BOGSX charges 1.03%/yr vs 1.98%/yr for ALTEX.

Performance

BOGSX vs. ALTEX - Performance Comparison

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

Returns By Period

In the year-to-date period, BOGSX achieves a 43.19% return, which is significantly lower than ALTEX's 63.55% return. Over the past 10 years, BOGSX has outperformed ALTEX with an annualized return of 17.86%, while ALTEX has yielded a comparatively lower 14.06% annualized return.

BOGSX

• 1D: 0.00%
• 1M: 13.74%
• YTD: 43.19%
• 6M: 42.16%
• 1Y: 62.18%
• 3Y*: 25.08%
• 5Y*: 13.51%
• 10Y*: 17.86%

ALTEX

• 1D: -1.95%
• 1M: 4.67%
• YTD: 63.55%
• 6M: 29.69%
• 1Y: 82.62%
• 3Y*: 14.48%
• 5Y*: 5.15%
• 10Y*: 14.06%

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

BOGSX vs. ALTEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BOGSX Black Oak Emerging Technology Fund	43.19%	19.06%	9.25%	17.79%	-27.30%	26.89%	45.16%	38.20%	-4.94%	19.05%
ALTEX Firsthand Alternative Energy Fund	63.55%	6.62%	-6.79%	-2.31%	-18.26%	-5.09%	83.88%	55.04%	-18.56%	27.35%

Correlation

The correlation between BOGSX and ALTEX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 31, 2007	0.75

The correlation between BOGSX and ALTEX shifts across timeframes, from 0.66 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BOGSX vs. ALTEX — Risk / Return Rank

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

BOGSX

BOGSX Risk / Return Rank: 85
BOGSX Sharpe Ratio Rank: 89
BOGSX Sortino Ratio Rank: 76
BOGSX Omega Ratio Rank: 72
BOGSX Calmar Ratio Rank: 95
BOGSX Martin Ratio Rank: 93

ALTEX

ALTEX Risk / Return Rank: 49
ALTEX Sharpe Ratio Rank: 58
ALTEX Sortino Ratio Rank: 36
ALTEX Omega Ratio Rank: 48
ALTEX Calmar Ratio Rank: 65
ALTEX Martin Ratio Rank: 38

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.

BOGSX vs. ALTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Black Oak Emerging Technology Fund (BOGSX) 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.

	BOGSX	ALTEX	Difference
Sharpe ratio: Return per unit of total volatility	2.93	2.23	+0.70
Sortino ratio: Return per unit of downside risk	3.65	2.50	+1.16
Omega ratio: Gain probability vs. loss probability	1.47	1.38	+0.10
Calmar ratio: Return relative to maximum drawdown	5.68	3.08	+2.60
Martin ratio: Return relative to average drawdown	19.50	8.11	+11.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BOGSX vs. ALTEX - Sharpe Ratio Comparison

The current BOGSX Sharpe Ratio is 2.93, which is higher than the ALTEX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of BOGSX and ALTEX, 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

	BOGSX	ALTEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	2.23	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.08	+0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.28	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.09	+0.02

Drawdowns

BOGSX vs. ALTEX - Drawdown Comparison

The maximum BOGSX drawdown since its inception was -92.80%, which is greater than ALTEX's maximum drawdown of -75.48%. Use the drawdown chart below to compare losses from any high point for BOGSX and ALTEX.

Drawdown Indicators

	BOGSX	ALTEX	Difference
Max Drawdown Largest peak-to-trough decline	-92.80%	-75.48%	-17.32%
Max Drawdown (1Y) Largest decline over 1 year	-11.04%	-28.91%	+17.87%
Max Drawdown (3Y) Largest decline over 3 years	-24.78%	-68.78%	+44.00%
Max Drawdown (5Y) Largest decline over 5 years	-33.93%	-75.48%	+41.55%
Max Drawdown (10Y) Largest decline over 10 years	-33.93%	-75.48%	+41.55%
Current Drawdown Current decline from peak	0.00%	-1.95%	+1.95%
Average Drawdown Average peak-to-trough decline	-58.95%	-37.25%	-21.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	10.75%	-7.54%

Volatility

BOGSX vs. ALTEX - Volatility Comparison

The current volatility for Black Oak Emerging Technology Fund (BOGSX) is 6.72%, while Firsthand Alternative Energy Fund (ALTEX) has a volatility of 13.15%. This indicates that BOGSX experiences smaller price fluctuations and is considered to be less risky than ALTEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOGSX	ALTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.72%	13.15%	-6.43%
Volatility (6M) Calculated over the trailing 6-month period	16.72%	33.11%	-16.39%
Volatility (1Y) Calculated over the trailing 1-year period	21.46%	40.02%	-18.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.21%	68.13%	-42.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	51.35%	-26.75%

BOGSX vs. ALTEX - Expense Ratio Comparison

BOGSX has a 1.03% expense ratio, which is lower than ALTEX's 1.98% expense ratio.

Dividends

BOGSX vs. ALTEX - Dividend Comparison

BOGSX's dividend yield for the trailing twelve months is around 4.02%, while ALTEX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
BOGSX Black Oak Emerging Technology Fund	4.02%	5.76%	7.96%	3.79%	1.87%	11.31%	6.30%	5.47%	11.71%	7.71%	4.00%	3.09%

Frequently Asked Questions

Can I hold both BOGSX and ALTEX in my portfolio?

BOGSX and ALTEX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOGSX or ALTEX?

ALTEX has higher volatility (13.15%) compared to BOGSX (6.72%). In terms of maximum drawdown, BOGSX dropped -92.80% vs ALTEX's -75.48%.

Which has better risk-adjusted returns?

BOGSX currently has the higher Sharpe Ratio (2.93 vs 2.23), 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.