SPEDX vs. RLSIX
SPEDX (Alger Dynamic Opportunities Fund) and RLSIX (RiverPark Long/Short Opportunity Fund) are both Long-Short funds. Over the past 10 years, SPEDX returned 9.38%/yr vs 6.72%/yr for RLSIX. A 0.68 correlation means they provide meaningful diversification when combined. SPEDX charges 0.91%/yr vs 1.75%/yr for RLSIX.
Performance
SPEDX vs. RLSIX - Performance Comparison
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Returns By Period
In the year-to-date period, SPEDX achieves a 9.52% return, which is significantly higher than RLSIX's -2.98% return. Over the past 10 years, SPEDX has outperformed RLSIX with an annualized return of 9.38%, while RLSIX has yielded a comparatively lower 6.72% 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%
RLSIX
- 1D
- 0.81%
- 1M
- -1.25%
- YTD
- -2.98%
- 6M
- -2.98%
- 1Y
- 5.93%
- 3Y*
- 11.57%
- 5Y*
- -5.21%
- 10Y*
- 6.72%
SPEDX vs. RLSIX - 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% |
RLSIX RiverPark Long/Short Opportunity Fund | -2.98% | 8.57% | 16.06% | 43.85% | -53.89% | 2.10% | 54.74% | 20.00% | -2.20% | 22.10% |
Correlation
The correlation between SPEDX and RLSIX is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 29, 2010 | 0.68 |
The correlation between SPEDX and RLSIX has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.
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Return for Risk
SPEDX vs. RLSIX — Risk / Return Rank
SPEDX
RLSIX
SPEDX vs. RLSIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Dynamic Opportunities Fund (SPEDX) and RiverPark Long/Short Opportunity Fund (RLSIX). 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 | RLSIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.09 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.43 | 0.37 | +1.05 |
| Martin ratioReturn relative to average drawdown | 3.94 | 1.07 | +2.88 |
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Drawdowns
SPEDX vs. RLSIX - Drawdown Comparison
The maximum SPEDX drawdown since its inception was -29.02%, smaller than the maximum RLSIX drawdown of -60.82%. Use the drawdown chart below to compare losses from any high point for SPEDX and RLSIX.
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Drawdown Indicators
| SPEDX | RLSIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.02% | -60.82% | +31.80% |
Max Drawdown (1Y)Largest decline over 1 year | -9.18% | -14.56% | +5.38% |
Max Drawdown (3Y)Largest decline over 3 years | -13.23% | -17.62% | +4.39% |
Max Drawdown (5Y)Largest decline over 5 years | -29.02% | -60.82% | +31.80% |
Max Drawdown (10Y)Largest decline over 10 years | -29.02% | -60.82% | +31.80% |
Current DrawdownCurrent decline from peak | 0.00% | -28.06% | +28.06% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -15.12% | +8.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 5.08% | -1.77% |
Volatility
SPEDX vs. RLSIX - Volatility Comparison
Alger Dynamic Opportunities Fund (SPEDX) has a higher volatility of 5.42% compared to RiverPark Long/Short Opportunity Fund (RLSIX) at 4.53%. This indicates that SPEDX's price experiences larger fluctuations and is considered to be riskier than RLSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPEDX | RLSIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 4.53% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 9.42% | 9.89% | -0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.95% | 12.13% | -0.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.01% | 24.97% | -12.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.93% | 21.57% | -8.64% |
SPEDX vs. RLSIX - Expense Ratio Comparison
SPEDX has a 0.91% expense ratio, which is lower than RLSIX's 1.75% expense ratio.
Dividends
SPEDX vs. RLSIX - Dividend Comparison
SPEDX's dividend yield for the trailing twelve months is around 0.08%, while RLSIX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
RLSIX RiverPark Long/Short Opportunity Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 11.94% | 11.66% | 1.26% | 0.00% |
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% |
Frequently Asked Questions
SPEDX and RLSIX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPEDX has higher volatility (5.42%) compared to RLSIX (4.53%). In terms of maximum drawdown, SPEDX dropped -29.02% vs RLSIX's -60.82%.
SPEDX currently has the higher Sharpe Ratio (1.09 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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