EEOFX vs. AMCGX

Last updated Aug 1, 2026

EEOFX (Essex Environmental Opportunities Fund) and AMCGX (Alger Mid Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, EEOFX returned -1.26%/yr vs -5.57%/yr for AMCGX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. EEOFX charges 2.11%/yr vs 1.93%/yr for AMCGX.

Performance

EEOFX vs. AMCGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Essex Environmental Opportunities Fund (EEOFX) and Alger Mid Cap Growth Fund (AMCGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EEOFX achieves a 9.60% return, which is significantly higher than AMCGX's 3.65% return.

EEOFX

• 1D: 3.33%
• 1M: -9.00%
• 6M: 5.11%
• YTD: 9.60%
• 1Y: 18.15%
• 3Y*: 5.98%
• 5Y*: -1.26%
• 10Y*: —
• ALL TIME*: 7.57%

AMCGX

• 1D: 2.11%
• 1M: -4.59%
• 6M: 4.96%
• YTD: 3.65%
• 1Y: 9.20%
• 3Y*: 13.76%
• 5Y*: -5.57%
• 10Y*: 7.27%
• ALL TIME*: 32.25%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMCGX Alger Mid Cap Growth Fund	$0.00	$0.00	$0.00
EEOFX Essex Environmental Opportunities Fund	$0.00	$0.00	$0.00

EEOFX vs. AMCGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EEOFX Essex Environmental Opportunities Fund	9.60%	23.55%	1.32%	-1.53%	-27.88%	10.83%	62.80%	25.43%	-15.79%	3.20%
AMCGX Alger Mid Cap Growth Fund	3.65%	16.63%	20.10%	22.85%	-35.19%	-29.98%	63.90%	29.63%	-8.03%	6.43%

Correlation

The correlation between EEOFX and AMCGX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Sep 1, 2017	0.78

The correlation between EEOFX and AMCGX shifts across timeframes, from 0.70 (1 year) to 0.80 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EEOFX vs. AMCGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EEOFX

EEOFX Risk / Return Rank: 20
EEOFX Sharpe Ratio Rank: 19
EEOFX Sortino Ratio Rank: 20
EEOFX Omega Ratio Rank: 19
EEOFX Calmar Ratio Rank: 19
EEOFX Martin Ratio Rank: 21

AMCGX

AMCGX Risk / Return Rank: 10
AMCGX Sharpe Ratio Rank: 10
AMCGX Sortino Ratio Rank: 11
AMCGX Omega Ratio Rank: 10
AMCGX Calmar Ratio Rank: 10
AMCGX Martin Ratio Rank: 11

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EEOFX vs. AMCGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Essex Environmental Opportunities Fund (EEOFX) and Alger Mid Cap Growth Fund (AMCGX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EEOFX	AMCGX	Difference
Sharpe ratio: Return per unit of total volatility	0.69	0.38	+0.31
Sortino ratio: Return per unit of downside risk	1.11	0.69	+0.42
Omega ratio: Gain probability vs. loss probability	1.13	1.08	+0.05
Calmar ratio: Return relative to maximum drawdown	0.91	0.48	+0.43
Martin ratio: Return relative to average drawdown	2.93	1.47	+1.46

EEOFX vs. AMCGX - Sharpe Ratio Comparison

The current EEOFX Sharpe Ratio is 0.69, which is higher than the AMCGX Sharpe Ratio of 0.38. The chart below compares the historical Sharpe Ratios of EEOFX and AMCGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EEOFX vs. AMCGX - Drawdown Comparison

The maximum EEOFX drawdown since its inception was -50.17%, smaller than the maximum AMCGX drawdown of -74.93%. Use the drawdown chart below to compare losses from any high point for EEOFX and AMCGX.

Drawdown Indicators

	EEOFX	AMCGX	Difference
Max Drawdown Largest peak-to-trough decline	-50.17%	-74.93%	+24.76%
Max Drawdown (1Y) Largest decline over 1 year	-19.43%	-16.20%	-3.23%
Max Drawdown (3Y) Largest decline over 3 years	-27.36%	-26.65%	-0.71%
Max Drawdown (5Y) Largest decline over 5 years	-50.17%	-64.50%	+14.33%
Max Drawdown (10Y) Largest decline over 10 years	—	-64.50%	—
Current Drawdown Current decline from peak	-16.75%	-34.04%	+17.29%
Average Drawdown Average peak-to-trough decline	-19.48%	-22.92%	+3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.99%	5.23%	+0.76%

Volatility

EEOFX vs. AMCGX - Volatility Comparison

Essex Environmental Opportunities Fund (EEOFX) has a higher volatility of 8.18% compared to Alger Mid Cap Growth Fund (AMCGX) at 5.19%. This indicates that EEOFX's price experiences larger fluctuations and is considered to be riskier than AMCGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EEOFX	AMCGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.18%	5.19%	+2.99%
Volatility (6M) Calculated over the trailing 6-month period	20.53%	15.96%	+4.57%
Volatility (1Y) Calculated over the trailing 1-year period	25.48%	20.15%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.49%	30.58%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.97%	26.86%	-1.89%

EEOFX vs. AMCGX - Expense Ratio Comparison

EEOFX has a 2.11% expense ratio, which is higher than AMCGX's 1.93% expense ratio.

Dividends

EEOFX vs. AMCGX - Dividend Comparison

EEOFX's dividend yield for the trailing twelve months is around 0.06%, while AMCGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AMCGX Alger Mid Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	13.34%	13.72%	10.98%	7.59%
EEOFX Essex Environmental Opportunities Fund	0.06%	0.06%	0.00%	0.00%	0.01%	6.63%	1.62%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EEOFX and AMCGX in my portfolio?

EEOFX and AMCGX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EEOFX or AMCGX?

EEOFX has higher volatility (8.18%) compared to AMCGX (5.19%). In terms of maximum drawdown, EEOFX dropped -50.17% vs AMCGX's -74.93%.

Which has better risk-adjusted returns?

EEOFX currently has the higher Sharpe Ratio (0.69 vs 0.38), 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.