FFONX vs. AAIZX

Last updated Jun 13, 2026

FFONX (Fidelity Advisor Technology Fund Class A) and AAIZX (Alger AI Enablers & Adopters Z) are both Technology Equities funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. FFONX charges 0.89%/yr vs 0.55%/yr for AAIZX.

Performance

FFONX vs. AAIZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Technology Fund Class A (FFONX) and Alger AI Enablers & Adopters Z (AAIZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FFONX

• 1D: 0.00%
• 1M: 6.31%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAIZX

• 1D: 2.65%
• 1M: 0.44%
• YTD: 18.77%
• 6M: 19.61%
• 1Y: 50.07%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFONX vs. AAIZX - Yearly Performance Comparison

	2026 (YTD)
FFONX Fidelity Advisor Technology Fund Class A	38.63%
AAIZX Alger AI Enablers & Adopters Z	26.31%

Correlation

The correlation between FFONX and AAIZX 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 (All Time) Calculated using the full available price history since Mar 16, 2026	0.81

Return for Risk

FFONX vs. AAIZX — Risk / Return Rank

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

FFONX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

AAIZX

AAIZX Risk / Return Rank: 67
AAIZX Sharpe Ratio Rank: 79
AAIZX Sortino Ratio Rank: 66
AAIZX Omega Ratio Rank: 64
AAIZX Calmar Ratio Rank: 77
AAIZX Martin Ratio Rank: 52

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.

FFONX vs. AAIZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Technology Fund Class A (FFONX) and Alger AI Enablers & Adopters Z (AAIZX). 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.

	FFONX	AAIZX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.19	—
Sortino ratio: Return per unit of downside risk	—	2.70	—
Omega ratio: Gain probability vs. loss probability	—	1.35	—
Calmar ratio: Return relative to maximum drawdown	—	2.92	—
Martin ratio: Return relative to average drawdown	—	8.74	—

Drawdowns

FFONX vs. AAIZX - Drawdown Comparison

The maximum FFONX drawdown since its inception was -10.06%, smaller than the maximum AAIZX drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for FFONX and AAIZX.

Drawdown Indicators

	FFONX	AAIZX	Difference
Max Drawdown Largest peak-to-trough decline	-10.06%	-29.00%	+18.94%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.47%	—
Current Drawdown Current decline from peak	-6.74%	-7.24%	+0.50%
Average Drawdown Average peak-to-trough decline	-1.54%	-4.99%	+3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.83%	—

Volatility

Volatility by Period

	FFONX	AAIZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.85%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.23%	—
Volatility (1Y) Calculated over the trailing 1-year period	29.48%	23.35%	+6.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.48%	27.67%	+1.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.48%	27.67%	+1.81%

FFONX vs. AAIZX - Expense Ratio Comparison

FFONX has a 0.89% expense ratio, which is higher than AAIZX's 0.55% expense ratio.

Dividends

FFONX vs. AAIZX - Dividend Comparison

FFONX's dividend yield for the trailing twelve months is around 2.56%, less than AAIZX's 5.32% yield.

Position	TTM	2025	2024
AAIZX Alger AI Enablers & Adopters Z	5.32%	6.31%	4.44%
FFONX Fidelity Advisor Technology Fund Class A	2.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFONX and AAIZX in my portfolio?

FFONX and AAIZX 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.