SPEDX vs. WALSX

Last updated Apr 1, 2026

Compare and contrast key facts about Alger Dynamic Opportunities Fund (SPEDX) and Wasatch Long/Short Alpha Fund (WALSX).

SPEDX is managed by Alger. It was launched on Nov 1, 2009. WALSX is managed by Wasatch. It was launched on Sep 30, 2021.

Performance

SPEDX vs. WALSX - Performance Comparison

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

SPEDX vs. WALSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPEDX Alger Dynamic Opportunities Fund	-7.22%	6.22%	23.03%	4.24%	-13.90%	-7.47%
WALSX Wasatch Long/Short Alpha Fund	1.55%	-12.79%	7.24%	27.75%	-8.38%	12.20%

Returns By Period

In the year-to-date period, SPEDX achieves a -7.22% return, which is significantly lower than WALSX's 1.55% return.

SPEDX

• 1D: -0.24%
• 1M: -2.74%
• YTD: -7.22%
• 6M: -8.54%
• 1Y: 4.09%
• 3Y*: 8.27%
• 5Y*: 1.91%
• 10Y*: 7.51%

WALSX

• 1D: -0.72%
• 1M: -8.45%
• YTD: 1.55%
• 6M: -0.56%
• 1Y: -7.36%
• 3Y*: 5.14%
• 5Y*: —
• 10Y*: —

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

SPEDX vs. WALSX - Expense Ratio Comparison

SPEDX has a 0.91% expense ratio, which is lower than WALSX's 1.75% expense ratio.

WALSX

Wasatch Long/Short Alpha Fund

SPEDX

Alger Dynamic Opportunities Fund

Return for Risk

SPEDX vs. WALSX — Risk / Return Rank

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

SPEDX

SPEDX Risk / Return Rank: 13
SPEDX Sharpe Ratio Rank: 15
SPEDX Sortino Ratio Rank: 13
SPEDX Omega Ratio Rank: 11
SPEDX Calmar Ratio Rank: 14
SPEDX Martin Ratio Rank: 14

WALSX

WALSX Risk / Return Rank: 2
WALSX Sharpe Ratio Rank: 2
WALSX Sortino Ratio Rank: 2
WALSX Omega Ratio Rank: 2
WALSX Calmar Ratio Rank: 1
WALSX Martin Ratio Rank: 2

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. WALSX - Risk-Adjusted Trends Comparison

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

	SPEDX	WALSX	Difference
Sharpe ratio Return per unit of total volatility	0.39	-0.40	+0.80
Sortino ratio Return per unit of downside risk	0.60	-0.48	+1.09
Omega ratio Gain probability vs. loss probability	1.07	0.94	+0.13
Calmar ratio Return relative to maximum drawdown	0.41	-0.57	+0.99
Martin ratio Return relative to average drawdown	1.26	-1.06	+2.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPEDX vs. WALSX - Sharpe Ratio Comparison

The current SPEDX Sharpe Ratio is 0.39, which is higher than the WALSX Sharpe Ratio of -0.40. The chart below compares the historical Sharpe Ratios of SPEDX and WALSX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SPEDX	WALSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	-0.40	+0.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.31	+0.17

Correlation

The correlation between SPEDX and WALSX is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

SPEDX vs. WALSX - Dividend Comparison

SPEDX's dividend yield for the trailing twelve months is around 0.10%, while WALSX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SPEDX Alger Dynamic Opportunities Fund	0.10%	0.09%	0.00%	0.00%	0.00%	5.69%	4.94%	3.75%	1.92%	0.00%	0.32%
WALSX Wasatch Long/Short Alpha Fund	0.00%	0.00%	0.00%	0.00%	0.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPEDX vs. WALSX - Drawdown Comparison

The maximum SPEDX drawdown since its inception was -29.02%, which is greater than WALSX's maximum drawdown of -25.28%. Use the drawdown chart below to compare losses from any high point for SPEDX and WALSX.

Drawdown Indicators

	SPEDX	WALSX	Difference
Max Drawdown Largest peak-to-trough decline	-29.02%	-25.28%	-3.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	-14.71%	+5.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.02%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.02%	—	—
Current Drawdown Current decline from peak	-9.18%	-22.03%	+12.85%
Average Drawdown Average peak-to-trough decline	-7.00%	-9.16%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.99%	7.97%	-4.98%

Volatility

SPEDX vs. WALSX - Volatility Comparison

The current volatility for Alger Dynamic Opportunities Fund (SPEDX) is 2.69%, while Wasatch Long/Short Alpha Fund (WALSX) has a volatility of 5.19%. This indicates that SPEDX experiences smaller price fluctuations and is considered to be less risky than WALSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPEDX	WALSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	5.19%	-2.50%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	11.06%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	17.77%	-7.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.02%	16.30%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.78%	16.30%	-3.52%