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SPECX vs. IETC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

SPECX vs. IETC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Spectra Fund (SPECX) and iShares U.S. Tech Independence Focused ETF (IETC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPECX achieves a 10.78% return, which is significantly higher than IETC's 3.27% return.


SPECX

1D
-1.89%
1M
2.33%
YTD
10.78%
6M
8.52%
1Y
32.59%
3Y*
32.89%
5Y*
13.56%
10Y*
18.03%

IETC

1D
-3.43%
1M
-3.33%
YTD
3.27%
6M
1.39%
1Y
16.71%
3Y*
25.64%
5Y*
14.77%
10Y*
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPECX vs. IETC - Yearly Performance Comparison


2026 (YTD)20252024202320222021202020192018
SPECX
Alger Spectra Fund
10.78%29.16%47.52%41.34%-39.37%12.61%43.66%32.15%-4.93%
IETC
iShares U.S. Tech Independence Focused ETF
3.27%19.56%37.57%54.35%-32.78%29.73%46.59%43.09%-3.75%

Correlation

The correlation between SPECX and IETC is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.


Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.90

Correlation (5Y)
Calculated over the trailing 5-year period

0.92

Correlation (All Time)
Calculated using the full available price history since Mar 23, 2018

0.93

The correlation between SPECX and IETC has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

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Return for Risk

SPECX vs. IETC — Risk / Return Rank

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

SPECX
SPECX Risk / Return Rank: 2626
Overall Rank
SPECX Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
SPECX Sortino Ratio Rank: 2727
Sortino Ratio Rank
SPECX Omega Ratio Rank: 2727
Omega Ratio Rank
SPECX Calmar Ratio Rank: 2424
Calmar Ratio Rank
SPECX Martin Ratio Rank: 2424
Martin Ratio Rank

IETC
IETC Risk / Return Rank: 2020
Overall Rank
IETC Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
IETC Sortino Ratio Rank: 2121
Sortino Ratio Rank
IETC Omega Ratio Rank: 2121
Omega Ratio Rank
IETC Calmar Ratio Rank: 1919
Calmar Ratio Rank
IETC Martin Ratio Rank: 1919
Martin Ratio Rank
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.

SPECX vs. IETC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Spectra Fund (SPECX) and iShares U.S. Tech Independence Focused ETF (IETC). 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.


SPECXIETCDifference
Sharpe ratioReturn per unit of total volatility

+0.73

Sortino ratioReturn per unit of downside risk

+0.89

Omega ratioGain probability vs. loss probability

1.25

1.14

+0.11

Calmar ratioReturn relative to maximum drawdown

1.71

0.79

+0.92

Martin ratioReturn relative to average drawdown

5.32

2.15

+3.17

SPECX vs. IETC - Sharpe Ratio Comparison

The current SPECX Sharpe Ratio is 1.46, which is higher than the IETC Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of SPECX and IETC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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Drawdowns

SPECX vs. IETC - Drawdown Comparison

The maximum SPECX drawdown since its inception was -72.19%, which is greater than IETC's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for SPECX and IETC.


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Drawdown Indicators


SPECXIETCDifference

Max Drawdown

Largest peak-to-trough decline

-72.19%

-38.48%

-33.71%

Max Drawdown (1Y)

Largest decline over 1 year

-20.03%

-21.19%

+1.16%

Max Drawdown (3Y)

Largest decline over 3 years

-27.91%

-25.17%

-2.74%

Max Drawdown (5Y)

Largest decline over 5 years

-54.82%

-38.48%

-16.34%

Max Drawdown (10Y)

Largest decline over 10 years

-54.82%

Current Drawdown

Current decline from peak

-3.12%

-11.36%

+8.24%

Average Drawdown

Average peak-to-trough decline

-24.01%

-8.14%

-15.87%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.43%

7.79%

-1.36%

Volatility

SPECX vs. IETC - Volatility Comparison

The current volatility for Alger Spectra Fund (SPECX) is 9.77%, while iShares U.S. Tech Independence Focused ETF (IETC) has a volatility of 11.06%. This indicates that SPECX experiences smaller price fluctuations and is considered to be less risky than IETC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


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Volatility by Period


SPECXIETCDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.77%

11.06%

-1.29%

Volatility (6M)

Calculated over the trailing 6-month period

18.49%

18.31%

+0.18%

Volatility (1Y)

Calculated over the trailing 1-year period

23.50%

22.86%

+0.64%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

32.90%

24.86%

+8.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.00%

25.50%

+2.50%

SPECX vs. IETC - Expense Ratio Comparison

SPECX has a 1.39% expense ratio, which is higher than IETC's 0.18% expense ratio.


Dividends

SPECX vs. IETC - Dividend Comparison

SPECX's dividend yield for the trailing twelve months is around 6.74%, more than IETC's 0.40% yield.


PositionTTM20252024202320222021202020192018201720162015
IETC
iShares U.S. Tech Independence Focused ETF
0.40%0.38%0.52%0.79%0.92%0.73%0.48%0.95%1.27%0.00%0.00%0.00%
SPECX
Alger Spectra Fund
6.74%7.47%6.49%0.00%2.70%34.41%9.19%7.20%12.09%6.14%0.00%8.80%

Frequently Asked Questions


SPECX and IETC have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IETC has higher volatility (11.06%) compared to SPECX (9.77%). In terms of maximum drawdown, SPECX dropped -72.19% vs IETC's -38.48%.

SPECX currently has the higher Sharpe Ratio (1.46 vs 0.73), 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.

Portfolio Optimizer

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