SPEDX vs. WTLS

Last updated Aug 1, 2026

SPEDX (Alger Dynamic Opportunities Fund) and WTLS (WisdomTree Efficient Long/Short US Equity Fund) are both Long-Short funds. Their 0.66 correlation means they have sometimes moved together and sometimes differently. SPEDX charges 0.91%/yr vs 0.88%/yr for WTLS.

Performance

SPEDX vs. WTLS - Performance Comparison

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

Returns By Period

SPEDX

• 1D: 2.39%
• 1M: -3.98%
• 6M: 4.32%
• YTD: 2.30%
• 1Y: 2.95%
• 3Y*: 11.83%
• 5Y*: 2.87%
• 10Y*: 8.36%
• ALL TIME*: 6.13%

WTLS

• 1D: 0.97%
• 1M: 3.51%
• 6M: 18.98%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SPEDX Alger Dynamic Opportunities Fund	$0.00	$0.00	$0.00
WTLS WisdomTree Efficient Long/Short US Equity Fund	$489.28K	$280.56K	$150.36K

SPEDX vs. WTLS - Yearly Performance Comparison

	2026 (YTD)
SPEDX Alger Dynamic Opportunities Fund	2.53%
WTLS WisdomTree Efficient Long/Short US Equity Fund	20.44%

Correlation

The correlation between SPEDX and WTLS is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.66

Return for Risk

SPEDX vs. WTLS — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SPEDX

SPEDX Risk / Return Rank: 7
SPEDX Sharpe Ratio Rank: 7
SPEDX Sortino Ratio Rank: 6
SPEDX Omega Ratio Rank: 6
SPEDX Calmar Ratio Rank: 7
SPEDX Martin Ratio Rank: 7

WTLS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPEDX vs. WTLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Dynamic Opportunities Fund (SPEDX) and WisdomTree Efficient Long/Short US Equity Fund (WTLS). 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	WTLS	Difference
Sharpe ratio: Return per unit of total volatility	0.17	—	—
Sortino ratio: Return per unit of downside risk	0.33	—	—
Omega ratio: Gain probability vs. loss probability	1.04	—	—
Calmar ratio: Return relative to maximum drawdown	0.23	—	—
Martin ratio: Return relative to average drawdown	0.58	—	—

Drawdowns

SPEDX vs. WTLS - Drawdown Comparison

The maximum SPEDX drawdown since its inception was -29.02%, which is greater than WTLS's maximum drawdown of -8.94%. Use the drawdown chart below to compare losses from any high point for SPEDX and WTLS.

Drawdown Indicators

	SPEDX	WTLS	Difference
Max Drawdown Largest peak-to-trough decline	-29.02%	-8.94%	-20.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.18%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.23%	—	—
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	-6.78%	0.00%	-6.78%
Average Drawdown Average peak-to-trough decline	-6.91%	-1.98%	-4.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	—	—

Volatility

Volatility by Period

	SPEDX	WTLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.78%	18.46%	-5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.17%	18.46%	-6.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	18.46%	-5.47%

SPEDX vs. WTLS - Expense Ratio Comparison

SPEDX has a 0.91% expense ratio, which is higher than WTLS's 0.88% expense ratio.

Dividends

SPEDX vs. WTLS - Dividend Comparison

SPEDX's dividend yield for the trailing twelve months is around 0.09%, while WTLS has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
SPEDX Alger Dynamic Opportunities Fund	0.09%	0.09%	0.00%	0.00%	0.00%	5.69%	4.94%	3.75%	1.92%	0.00%	0.32%
WTLS WisdomTree Efficient Long/Short US Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPEDX and WTLS in my portfolio?

SPEDX and WTLS have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.