SPEDX vs. LSEIX

Last updated Jun 23, 2026

SPEDX (Alger Dynamic Opportunities Fund) and LSEIX (Persimmon Long/Short Fund) are both Long-Short funds. Over the past 10 years, SPEDX returned 9.38%/yr vs 7.39%/yr for LSEIX. A 0.71 correlation means they provide meaningful diversification when combined. SPEDX charges 0.91%/yr vs 1.91%/yr for LSEIX.

Performance

SPEDX vs. LSEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Dynamic Opportunities Fund (SPEDX) and Persimmon Long/Short Fund (LSEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPEDX achieves a 9.52% return, which is significantly higher than LSEIX's 8.19% return. Over the past 10 years, SPEDX has outperformed LSEIX with an annualized return of 9.38%, while LSEIX has yielded a comparatively lower 7.39% annualized return.

SPEDX

• 1D: 0.71%
• 1M: 3.72%
• YTD: 9.52%
• 6M: 8.20%
• 1Y: 13.51%
• 3Y*: 13.25%
• 5Y*: 4.60%
• 10Y*: 9.38%

LSEIX

• 1D: 0.86%
• 1M: 2.35%
• YTD: 8.19%
• 6M: 7.94%
• 1Y: 22.61%
• 3Y*: 15.64%
• 5Y*: 10.19%
• 10Y*: 7.39%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPEDX vs. LSEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPEDX Alger Dynamic Opportunities Fund	9.52%	6.22%	23.03%	4.24%	-13.90%	3.96%	47.30%	12.79%	-2.32%	9.46%
LSEIX Persimmon Long/Short Fund	8.19%	12.02%	17.36%	15.70%	-9.95%	14.67%	8.13%	5.28%	-6.10%	13.39%

Correlation

The correlation between SPEDX and LSEIX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.71

The correlation between SPEDX and LSEIX shifts across timeframes, from 0.60 (1 year) to 0.71 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SPEDX vs. LSEIX — Risk / Return Rank

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

SPEDX

SPEDX Risk / Return Rank: 17
SPEDX Sharpe Ratio Rank: 17
SPEDX Sortino Ratio Rank: 17
SPEDX Omega Ratio Rank: 16
SPEDX Calmar Ratio Rank: 18
SPEDX Martin Ratio Rank: 15

LSEIX

LSEIX Risk / Return Rank: 88
LSEIX Sharpe Ratio Rank: 85
LSEIX Sortino Ratio Rank: 82
LSEIX Omega Ratio Rank: 80
LSEIX Calmar Ratio Rank: 96
LSEIX Martin Ratio Rank: 96

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.

SPEDX vs. LSEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Dynamic Opportunities Fund (SPEDX) and Persimmon Long/Short Fund (LSEIX). 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.

	SPEDX	LSEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	2.57	-1.48
Sortino ratio: Return per unit of downside risk	1.61	3.56	-1.96
Omega ratio: Gain probability vs. loss probability	1.20	1.48	-0.29
Calmar ratio: Return relative to maximum drawdown	1.43	5.76	-4.33
Martin ratio: Return relative to average drawdown	3.94	22.57	-18.63

SPEDX vs. LSEIX - Sharpe Ratio Comparison

The current SPEDX Sharpe Ratio is 1.09, which is lower than the LSEIX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of SPEDX and LSEIX, 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

SPEDX vs. LSEIX - Drawdown Comparison

The maximum SPEDX drawdown since its inception was -29.02%, which is greater than LSEIX's maximum drawdown of -19.92%. Use the drawdown chart below to compare losses from any high point for SPEDX and LSEIX.

Drawdown Indicators

	SPEDX	LSEIX	Difference
Max Drawdown Largest peak-to-trough decline	-29.02%	-19.92%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-3.90%	-5.28%
Max Drawdown (3Y) Largest decline over 3 years	-13.23%	-13.63%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-29.02%	-13.63%	-15.39%
Max Drawdown (10Y) Largest decline over 10 years	-29.02%	-19.92%	-9.10%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.93%	-4.03%	-2.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	0.99%	+2.32%

Volatility

SPEDX vs. LSEIX - Volatility Comparison

Alger Dynamic Opportunities Fund (SPEDX) has a higher volatility of 5.42% compared to Persimmon Long/Short Fund (LSEIX) at 2.37%. This indicates that SPEDX's price experiences larger fluctuations and is considered to be riskier than LSEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPEDX	LSEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	2.37%	+3.05%
Volatility (6M) Calculated over the trailing 6-month period	9.42%	5.79%	+3.63%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	8.74%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.01%	10.92%	+1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.93%	10.68%	+2.25%

SPEDX vs. LSEIX - Expense Ratio Comparison

SPEDX has a 0.91% expense ratio, which is lower than LSEIX's 1.91% expense ratio.

Dividends

SPEDX vs. LSEIX - Dividend Comparison

SPEDX's dividend yield for the trailing twelve months is around 0.08%, while LSEIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
LSEIX Persimmon Long/Short Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.23%	3.49%	6.18%	0.00%	4.88%
SPEDX Alger Dynamic Opportunities Fund	0.08%	0.09%	0.00%	0.00%	0.00%	5.69%	4.94%	3.75%	1.92%	0.00%	0.32%	0.00%

Frequently Asked Questions

Can I hold both SPEDX and LSEIX in my portfolio?

SPEDX and LSEIX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPEDX or LSEIX?

SPEDX has higher volatility (5.42%) compared to LSEIX (2.37%). In terms of maximum drawdown, SPEDX dropped -29.02% vs LSEIX's -19.92%.

Which has better risk-adjusted returns?

LSEIX currently has the higher Sharpe Ratio (2.57 vs 1.09), 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.