SPECX vs. AOFIX
Compare and contrast key facts about Alger Spectra Fund (SPECX) and Alger Small Cap Focus Fund (AOFIX).
SPECX is managed by Alger. It was launched on Jul 28, 1969. AOFIX is managed by Alger. It was launched on Mar 3, 2008.
Performance
SPECX vs. AOFIX - Performance Comparison
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SPECX vs. AOFIX - 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% |
AOFIX Alger Small Cap Focus Fund | -12.19% | 6.96% | 13.76% | 9.88% | -37.62% | -14.06% | 53.29% | 24.16% | 14.16% | 27.72% |
Returns By Period
In the year-to-date period, SPECX achieves a -15.14% return, which is significantly lower than AOFIX's -12.19% return. Over the past 10 years, SPECX has outperformed AOFIX with an annualized return of 14.53%, while AOFIX has yielded a comparatively lower 7.64% 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%
AOFIX
- 1D
- -2.21%
- 1M
- -13.58%
- YTD
- -12.19%
- 6M
- -9.04%
- 1Y
- 13.89%
- 3Y*
- 4.33%
- 5Y*
- -8.08%
- 10Y*
- 7.64%
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SPECX vs. AOFIX - Expense Ratio Comparison
SPECX has a 1.39% expense ratio, which is higher than AOFIX's 1.14% expense ratio.
Return for Risk
SPECX vs. AOFIX — Risk / Return Rank
SPECX
AOFIX
SPECX vs. AOFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Spectra Fund (SPECX) and Alger Small Cap Focus Fund (AOFIX). 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 | AOFIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.88 | 0.41 | +0.47 |
Sortino ratioReturn per unit of downside risk | 1.39 | 0.78 | +0.62 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.09 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.06 | 0.46 | +0.60 |
Martin ratioReturn relative to average drawdown | 3.51 | 1.71 | +1.80 |
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 | AOFIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.88 | 0.41 | +0.47 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | -0.29 | +0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.29 | +0.23 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.23 | +0.23 |
Correlation
The correlation between SPECX and AOFIX is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPECX vs. AOFIX - Dividend Comparison
SPECX's dividend yield for the trailing twelve months is around 8.80%, while AOFIX has not paid dividends to shareholders.
| 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% |
AOFIX Alger Small Cap Focus Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 6.94% | 0.00% | 2.36% | 0.85% | 0.00% | 0.00% | 0.00% |
Drawdowns
SPECX vs. AOFIX - Drawdown Comparison
The maximum SPECX drawdown since its inception was -72.19%, which is greater than AOFIX's maximum drawdown of -60.19%. Use the drawdown chart below to compare losses from any high point for SPECX and AOFIX.
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Drawdown Indicators
| SPECX | AOFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.19% | -60.19% | -12.00% |
Max Drawdown (1Y)Largest decline over 1 year | -20.03% | -19.88% | -0.15% |
Max Drawdown (5Y)Largest decline over 5 years | -54.82% | -55.64% | +0.82% |
Max Drawdown (10Y)Largest decline over 10 years | -54.82% | -60.19% | +5.37% |
Current DrawdownCurrent decline from peak | -20.03% | -46.23% | +26.20% |
Average DrawdownAverage peak-to-trough decline | -24.16% | -19.25% | -4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 5.34% | +0.72% |
Volatility
SPECX vs. AOFIX - Volatility Comparison
The current volatility for Alger Spectra Fund (SPECX) is 7.79%, while Alger Small Cap Focus Fund (AOFIX) has a volatility of 9.39%. This indicates that SPECX experiences smaller price fluctuations and is considered to be less risky than AOFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPECX | AOFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 9.39% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 17.03% | 19.29% | -2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.87% | 28.37% | -0.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.64% | 27.85% | +4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.72% | 26.10% | +1.62% |