MTCIX vs. ALTEX

Last updated Jun 24, 2026

MTCIX (MFS Technology Fund) and ALTEX (Firsthand Alternative Energy Fund) are both Technology Equities funds. Over the past 10 years, MTCIX returned 22.73%/yr vs 14.83%/yr for ALTEX. A 0.69 correlation means they provide meaningful diversification when combined. MTCIX charges 0.88%/yr vs 1.98%/yr for ALTEX.

Performance

MTCIX vs. ALTEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Technology Fund (MTCIX) 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, MTCIX achieves a 19.54% return, which is significantly lower than ALTEX's 67.19% return. Over the past 10 years, MTCIX has outperformed ALTEX with an annualized return of 22.73%, while ALTEX has yielded a comparatively lower 14.83% annualized return.

MTCIX

• 1D: 0.06%
• 1M: 5.28%
• YTD: 19.54%
• 6M: 17.86%
• 1Y: 38.25%
• 3Y*: 37.51%
• 5Y*: 17.44%
• 10Y*: 22.73%

ALTEX

• 1D: 2.41%
• 1M: 2.85%
• YTD: 67.19%
• 6M: 61.77%
• 1Y: 83.66%
• 3Y*: 16.68%
• 5Y*: 4.79%
• 10Y*: 14.83%

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

MTCIX vs. ALTEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MTCIX MFS Technology Fund	19.54%	16.39%	56.76%	54.42%	-36.18%	14.11%	46.45%	38.84%	1.85%	38.78%
ALTEX Firsthand Alternative Energy Fund	67.19%	6.62%	-6.79%	-2.31%	-18.26%	-5.09%	83.88%	55.04%	-18.56%	27.35%

Correlation

The correlation between MTCIX and ALTEX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Oct 30, 2007	0.69

The correlation between MTCIX and ALTEX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.

Return for Risk

MTCIX vs. ALTEX — Risk / Return Rank

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

MTCIX

MTCIX Risk / Return Rank: 38
MTCIX Sharpe Ratio Rank: 45
MTCIX Sortino Ratio Rank: 37
MTCIX Omega Ratio Rank: 39
MTCIX Calmar Ratio Rank: 36
MTCIX Martin Ratio Rank: 33

ALTEX

ALTEX Risk / Return Rank: 53
ALTEX Sharpe Ratio Rank: 64
ALTEX Sortino Ratio Rank: 40
ALTEX Omega Ratio Rank: 53
ALTEX Calmar Ratio Rank: 71
ALTEX Martin Ratio Rank: 40

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.

MTCIX vs. ALTEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Technology Fund (MTCIX) 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.

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.

	MTCIX	ALTEX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	2.16	-0.35
Sortino ratio: Return per unit of downside risk	2.37	2.44	-0.06
Omega ratio: Gain probability vs. loss probability	1.31	1.37	-0.06
Calmar ratio: Return relative to maximum drawdown	2.15	3.09	-0.94
Martin ratio: Return relative to average drawdown	6.94	8.07	-1.13

MTCIX vs. ALTEX - Sharpe Ratio Comparison

The current MTCIX Sharpe Ratio is 1.81, which is comparable to the ALTEX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of MTCIX 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.

Drawdowns

MTCIX vs. ALTEX - Drawdown Comparison

The maximum MTCIX drawdown since its inception was -82.78%, which is greater than ALTEX's maximum drawdown of -75.48%. Use the drawdown chart below to compare losses from any high point for MTCIX and ALTEX.

Drawdown Indicators

	MTCIX	ALTEX	Difference
Max Drawdown Largest peak-to-trough decline	-82.78%	-75.48%	-7.30%
Max Drawdown (1Y) Largest decline over 1 year	-18.59%	-28.91%	+10.32%
Max Drawdown (3Y) Largest decline over 3 years	-25.97%	-68.78%	+42.81%
Max Drawdown (5Y) Largest decline over 5 years	-42.74%	-75.48%	+32.74%
Max Drawdown (10Y) Largest decline over 10 years	-42.74%	-75.48%	+32.74%
Current Drawdown Current decline from peak	-2.42%	0.00%	-2.42%
Average Drawdown Average peak-to-trough decline	-29.81%	-37.17%	+7.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.75%	10.88%	-5.13%

Volatility

MTCIX vs. ALTEX - Volatility Comparison

The current volatility for MFS Technology Fund (MTCIX) is 9.72%, while Firsthand Alternative Energy Fund (ALTEX) has a volatility of 15.10%. This indicates that MTCIX 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

	MTCIX	ALTEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.72%	15.10%	-5.38%
Volatility (6M) Calculated over the trailing 6-month period	18.00%	28.37%	-10.37%
Volatility (1Y) Calculated over the trailing 1-year period	22.09%	41.38%	-19.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.68%	68.37%	-42.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.21%	51.51%	-27.30%

MTCIX vs. ALTEX - Expense Ratio Comparison

MTCIX has a 0.88% expense ratio, which is lower than ALTEX's 1.98% expense ratio.

Dividends

MTCIX vs. ALTEX - Dividend Comparison

MTCIX's dividend yield for the trailing twelve months is around 11.47%, 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%
MTCIX MFS Technology Fund	11.47%	13.71%	26.78%	9.66%	10.35%	11.58%	4.97%	3.87%	4.97%	3.51%	1.84%	3.62%

Frequently Asked Questions

Can I hold both MTCIX and ALTEX in my portfolio?

MTCIX and ALTEX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MTCIX or ALTEX?

ALTEX has higher volatility (15.10%) compared to MTCIX (9.72%). In terms of maximum drawdown, MTCIX dropped -82.78% vs ALTEX's -75.48%.

Which has better risk-adjusted returns?

ALTEX currently has the higher Sharpe Ratio (2.16 vs 1.81), 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.