SPECX vs. AIEMX
Compare and contrast key facts about Alger Spectra Fund (SPECX) and Alger Emerging Markets Fund (AIEMX).
SPECX is managed by Alger. It was launched on Jul 28, 1969. AIEMX is managed by Alger. It was launched on Dec 28, 2010.
Performance
SPECX vs. AIEMX - Performance Comparison
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SPECX vs. AIEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPECX Alger Spectra Fund | -15.14% | 29.16% | 47.52% | 41.34% | -39.37% | 12.61% | 43.66% | 32.15% | -0.82% | 31.11% |
AIEMX Alger Emerging Markets Fund | -2.95% | 25.30% | 5.60% | 13.49% | -32.52% | -0.45% | 37.17% | 21.98% | -21.81% | 38.72% |
Returns By Period
In the year-to-date period, SPECX achieves a -15.14% return, which is significantly lower than AIEMX's -2.95% return. Over the past 10 years, SPECX has outperformed AIEMX with an annualized return of 14.53%, while AIEMX has yielded a comparatively lower 6.24% annualized return.
SPECX
- 1D
- -1.46%
- 1M
- -9.64%
- YTD
- -15.14%
- 6M
- -16.34%
- 1Y
- 25.34%
- 3Y*
- 26.11%
- 5Y*
- 9.62%
- 10Y*
- 14.53%
AIEMX
- 1D
- -0.93%
- 1M
- -13.45%
- YTD
- -2.95%
- 6M
- 0.20%
- 1Y
- 20.79%
- 3Y*
- 12.37%
- 5Y*
- -0.63%
- 10Y*
- 6.24%
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SPECX vs. AIEMX - Expense Ratio Comparison
SPECX has a 1.39% expense ratio, which is lower than AIEMX's 1.45% expense ratio.
Return for Risk
SPECX vs. AIEMX — Risk / Return Rank
SPECX
AIEMX
SPECX vs. AIEMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Spectra Fund (SPECX) and Alger Emerging Markets Fund (AIEMX). 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.
| SPECX | AIEMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 1.08 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.39 | 1.51 | -0.12 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 1.19 | -0.13 |
Martin ratioReturn relative to average drawdown | 3.51 | 5.17 | -1.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPECX | AIEMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 1.08 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | -0.03 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.33 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.14 | +0.32 |
Correlation
The correlation between SPECX and AIEMX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
SPECX vs. AIEMX - Dividend Comparison
SPECX's dividend yield for the trailing twelve months is around 8.80%, more than AIEMX's 0.05% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPECX Alger Spectra Fund | 8.80% | 7.47% | 6.49% | 0.00% | 2.70% | 34.41% | 9.19% | 7.20% | 12.09% | 6.14% | 0.00% | 8.80% |
AIEMX Alger Emerging Markets Fund | 0.05% | 0.05% | 0.31% | 0.00% | 0.00% | 4.19% | 0.00% | 5.08% | 2.35% | 3.58% | 0.00% | 0.00% |
Drawdowns
SPECX vs. AIEMX - Drawdown Comparison
The maximum SPECX drawdown since its inception was -72.19%, which is greater than AIEMX's maximum drawdown of -46.21%. Use the drawdown chart below to compare losses from any high point for SPECX and AIEMX.
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Drawdown Indicators
| SPECX | AIEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.19% | -46.21% | -25.98% |
Max Drawdown (1Y)Largest decline over 1 year | -20.03% | -15.17% | -4.86% |
Max Drawdown (5Y)Largest decline over 5 years | -54.82% | -43.75% | -11.07% |
Max Drawdown (10Y)Largest decline over 10 years | -54.82% | -46.21% | -8.61% |
Current DrawdownCurrent decline from peak | -20.03% | -15.17% | -4.86% |
Average DrawdownAverage peak-to-trough decline | -24.16% | -17.41% | -6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 3.49% | +2.57% |
Volatility
SPECX vs. AIEMX - Volatility Comparison
The current volatility for Alger Spectra Fund (SPECX) is 7.79%, while Alger Emerging Markets Fund (AIEMX) has a volatility of 9.28%. This indicates that SPECX experiences smaller price fluctuations and is considered to be less risky than AIEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPECX | AIEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 9.28% | -1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 17.03% | 14.06% | +2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.87% | 18.39% | +9.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.64% | 18.87% | +13.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.72% | 19.25% | +8.47% |