SPECX vs. IETC
SPECX (Alger Spectra Fund) and IETC (iShares U.S. Tech Independence Focused ETF) are both funds - SPECX is a Large Cap Growth Equities fund managed by Alger, while IETC is a Technology Equities fund actively managed by iShares. Over the past 5 years, SPECX returned 11.66%/yr vs 13.75%/yr for IETC. Their correlation of 0.93 means they have usually moved in the same direction. SPECX charges 1.39%/yr vs 0.18%/yr for IETC.
Performance
SPECX vs. IETC - Performance Comparison
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Returns By Period
In the year-to-date period, SPECX achieves a 4.51% return, which is significantly higher than IETC's 3.80% return.
SPECX
- 1D
- 1.08%
- 1M
- -3.23%
- 6M
- 6.41%
- YTD
- 4.51%
- 1Y
- 17.07%
- 3Y*
- 28.63%
- 5Y*
- 11.66%
- 10Y*
- 16.53%
- ALL TIME*
- 12.37%
IETC
- 1D
- 2.32%
- 1M
- 1.53%
- 6M
- 7.80%
- YTD
- 3.80%
- 1Y
- 10.80%
- 3Y*
- 24.41%
- 5Y*
- 13.75%
- 10Y*
- —
- ALL TIME*
- 20.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.74M | $5.59M | $5.70M | |
SPECX Alger Spectra Fund | $0.00 | $0.00 | $0.00 |
SPECX vs. IETC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPECX Alger Spectra Fund | 4.51% | 29.16% | 47.52% | 41.34% | -39.37% | 12.61% | 43.66% | 32.15% | -4.93% |
IETC iShares U.S. Tech Independence Focused ETF | 3.80% | 19.56% | 37.57% | 54.35% | -32.78% | 29.73% | 46.59% | 43.09% | -3.75% |
Correlation
The correlation between SPECX and IETC is 0.87, 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. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer 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 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
SPECX vs. IETC — Risk / Return Rank
SPECX
IETC
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.
| SPECX | IETC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.09 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.70 | 0.51 | +0.19 |
| Martin ratioReturn relative to average drawdown | 2.04 | 1.23 | +0.81 |
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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
| SPECX | IETC | Difference | |
|---|---|---|---|
Max DrawdownLargest 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 DrawdownCurrent decline from peak | -8.60% | -10.90% | +2.30% |
Average DrawdownAverage peak-to-trough decline | -23.94% | -8.19% | -15.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.85% | 8.80% | -1.95% |
Volatility
SPECX vs. IETC - Volatility Comparison
Alger Spectra Fund (SPECX) has a higher volatility of 8.82% compared to iShares U.S. Tech Independence Focused ETF (IETC) at 8.08%. This indicates that SPECX's price experiences larger fluctuations and is considered to be riskier 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
| SPECX | IETC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.82% | 8.08% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 20.08% | 19.61% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.01% | 24.07% | +0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.11% | 25.12% | +7.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.11% | 25.52% | +2.59% |
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 7.15%, more than IETC's 0.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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 | 7.15% | 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 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPECX has higher volatility (8.82%) compared to IETC (8.08%). In terms of maximum drawdown, SPECX dropped -72.19% vs IETC's -38.48%.
SPECX currently has the higher Sharpe Ratio (0.56 vs 0.45), 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.
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