SCMIX vs. AAIZX

Last updated Aug 4, 2026

SCMIX (Columbia Seligman Technology and Information Fund Institutional 2 Class) and AAIZX (Alger AI Enablers & Adopters Z) are both mutual funds - SCMIX is a Technology Equities fund actively managed by Columbia, while AAIZX is a Artificial Intelligence fund actively managed by Alger. Both are actively managed. Over the past year, SCMIX returned 85.90% vs 36.67% for AAIZX. Their correlation of 0.84 means they have usually moved in the same direction. SCMIX charges 0.89%/yr vs 0.55%/yr for AAIZX.

Performance

SCMIX vs. AAIZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia Seligman Technology and Information Fund Institutional 2 Class (SCMIX) and Alger AI Enablers & Adopters Z (AAIZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCMIX achieves a 46.48% return, which is significantly higher than AAIZX's 18.89% return.

SCMIX

• 1D: 0.43%
• 1M: -3.13%
• 6M: 31.61%
• YTD: 46.48%
• 1Y: 85.90%
• 3Y*: 39.60%
• 5Y*: 23.86%
• 10Y*: 26.90%
• ALL TIME*: 15.80%

AAIZX

• 1D: 1.53%
• 1M: -2.33%
• 6M: 19.72%
• YTD: 18.89%
• 1Y: 36.67%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 41.83%

*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)
AAIZX Alger AI Enablers & Adopters Z	$0.00	$0.00	$0.00
SCMIX Columbia Seligman Technology and Information Fund Institutional 2 Class	$0.00	$0.00	$0.00

SCMIX vs. AAIZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCMIX Columbia Seligman Technology and Information Fund Institutional 2 Class	46.48%	37.73%	17.23%
AAIZX Alger AI Enablers & Adopters Z	18.89%	41.00%	33.76%

Correlation

The correlation between SCMIX and AAIZX is 0.82, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.82
Correlation (All Time) Calculated using the full available price history since Apr 8, 2024	0.84

The correlation between SCMIX and AAIZX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

SCMIX vs. AAIZX — Risk / Return Rank

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

SCMIX

SCMIX Risk / Return Rank: 93
SCMIX Sharpe Ratio Rank: 97
SCMIX Sortino Ratio Rank: 88
SCMIX Omega Ratio Rank: 86
SCMIX Calmar Ratio Rank: 98
SCMIX Martin Ratio Rank: 98

AAIZX

AAIZX Risk / Return Rank: 38
AAIZX Sharpe Ratio Rank: 40
AAIZX Sortino Ratio Rank: 37
AAIZX Omega Ratio Rank: 35
AAIZX Calmar Ratio Rank: 45
AAIZX Martin Ratio Rank: 34

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.

SCMIX vs. AAIZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia Seligman Technology and Information Fund Institutional 2 Class (SCMIX) 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.

	SCMIX	AAIZX	Difference
Sharpe ratio: Return per unit of total volatility	2.82	1.29	+1.53
Sortino ratio: Return per unit of downside risk	3.26	1.81	+1.45
Omega ratio: Gain probability vs. loss probability	1.43	1.22	+0.21
Calmar ratio: Return relative to maximum drawdown	6.54	1.89	+4.64
Martin ratio: Return relative to average drawdown	21.34	5.31	+16.03

SCMIX vs. AAIZX - Sharpe Ratio Comparison

The current SCMIX Sharpe Ratio is 2.82, which is higher than the AAIZX Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of SCMIX and AAIZX, 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

SCMIX vs. AAIZX - Drawdown Comparison

The maximum SCMIX drawdown since its inception was -50.85%, which is greater than AAIZX's maximum drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for SCMIX and AAIZX.

Drawdown Indicators

	SCMIX	AAIZX	Difference
Max Drawdown Largest peak-to-trough decline	-50.85%	-29.00%	-21.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.76%	-17.47%	+4.71%
Max Drawdown (3Y) Largest decline over 3 years	-29.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.18%	—	—
Current Drawdown Current decline from peak	-8.12%	-7.57%	-0.55%
Average Drawdown Average peak-to-trough decline	-9.38%	-5.01%	-4.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.89%	6.22%	-2.33%

Volatility

SCMIX vs. AAIZX - Volatility Comparison

Columbia Seligman Technology and Information Fund Institutional 2 Class (SCMIX) and Alger AI Enablers & Adopters Z (AAIZX) have volatilities of 9.67% and 9.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCMIX	AAIZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.67%	9.50%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	23.32%	20.56%	+2.76%
Volatility (1Y) Calculated over the trailing 1-year period	29.58%	25.72%	+3.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.91%	28.05%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.38%	28.05%	-1.67%

SCMIX vs. AAIZX - Expense Ratio Comparison

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

Dividends

SCMIX vs. AAIZX - Dividend Comparison

SCMIX's dividend yield for the trailing twelve months is around 5.42%, more than AAIZX's 5.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAIZX Alger AI Enablers & Adopters Z	5.31%	6.31%	4.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SCMIX Columbia Seligman Technology and Information Fund Institutional 2 Class	5.42%	7.93%	12.11%	4.52%	8.08%	10.45%	9.38%	10.47%	11.30%	10.48%	7.88%	10.40%

Frequently Asked Questions

Can I hold both SCMIX and AAIZX in my portfolio?

SCMIX and AAIZX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCMIX or AAIZX?

SCMIX has higher volatility (9.67%) compared to AAIZX (9.50%). In terms of maximum drawdown, SCMIX dropped -50.85% vs AAIZX's -29.00%.

Which has better risk-adjusted returns?

SCMIX currently has the higher Sharpe Ratio (2.82 vs 1.29), 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.