TEFQX vs. AAIZX

Last updated Apr 2, 2026

Compare and contrast key facts about Firsthand Technology Opportunities Fund (TEFQX) and Alger AI Enablers & Adopters Z (AAIZX).

TEFQX is managed by Firsthand Funds. It was launched on Sep 29, 1999. AAIZX is an actively managed fund by Alger. It was launched on Apr 4, 2024.

Performance

TEFQX vs. AAIZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Firsthand Technology Opportunities Fund (TEFQX) and Alger AI Enablers & Adopters Z (AAIZX). The values are adjusted to include any dividend payments, if applicable.

TEFQX vs. AAIZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TEFQX Firsthand Technology Opportunities Fund	-15.04%	29.82%	-4.05%
AAIZX Alger AI Enablers & Adopters Z	-7.82%	41.00%	33.76%

Returns By Period

In the year-to-date period, TEFQX achieves a -15.04% return, which is significantly lower than AAIZX's -7.82% return.

TEFQX

• 1D: 6.09%
• 1M: -8.13%
• YTD: -15.04%
• 6M: -20.68%
• 1Y: 14.52%
• 3Y*: -5.01%
• 5Y*: -20.06%
• 10Y*: 3.92%

AAIZX

• 1D: 4.88%
• 1M: -2.33%
• YTD: -7.82%
• 6M: -10.37%
• 1Y: 46.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEFQX vs. AAIZX - Expense Ratio Comparison

TEFQX has a 1.85% expense ratio, which is higher than AAIZX's 0.55% expense ratio.

TEFQX

Firsthand Technology Opportunities Fund

AAIZX

Alger AI Enablers & Adopters Z

Return for Risk

TEFQX vs. AAIZX — Risk / Return Rank

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

TEFQX

TEFQX Risk / Return Rank: 12
TEFQX Sharpe Ratio Rank: 13
TEFQX Sortino Ratio Rank: 16
TEFQX Omega Ratio Rank: 14
TEFQX Calmar Ratio Rank: 9
TEFQX Martin Ratio Rank: 8

AAIZX

AAIZX Risk / Return Rank: 83
AAIZX Sharpe Ratio Rank: 84
AAIZX Sortino Ratio Rank: 84
AAIZX Omega Ratio Rank: 78
AAIZX Calmar Ratio Rank: 90
AAIZX Martin Ratio Rank: 77

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.

TEFQX vs. AAIZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Firsthand Technology Opportunities Fund (TEFQX) and Alger AI Enablers & Adopters Z (AAIZX). 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.

	TEFQX	AAIZX	Difference
Sharpe ratio Return per unit of total volatility	0.43	1.68	-1.25
Sortino ratio Return per unit of downside risk	0.83	2.33	-1.50
Omega ratio Gain probability vs. loss probability	1.11	1.31	-0.21
Calmar ratio Return relative to maximum drawdown	0.31	2.71	-2.39
Martin ratio Return relative to average drawdown	0.83	8.16	-7.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEFQX vs. AAIZX - Sharpe Ratio Comparison

The current TEFQX Sharpe Ratio is 0.43, which is lower than the AAIZX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of TEFQX and AAIZX, 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

	TEFQX	AAIZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.43	1.68	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.27	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	1.17	-1.19

Correlation

The correlation between TEFQX and AAIZX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TEFQX vs. AAIZX - Dividend Comparison

TEFQX has not paid dividends to shareholders, while AAIZX's dividend yield for the trailing twelve months is around 6.85%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TEFQX Firsthand Technology Opportunities Fund	0.00%	0.00%	0.00%	1.91%	54.72%	6.88%	15.27%	5.54%	0.00%	0.00%	27.74%
AAIZX Alger AI Enablers & Adopters Z	6.85%	6.31%	4.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

TEFQX vs. AAIZX - Drawdown Comparison

The maximum TEFQX drawdown since its inception was -92.33%, which is greater than AAIZX's maximum drawdown of -29.00%. Use the drawdown chart below to compare losses from any high point for TEFQX and AAIZX.

Drawdown Indicators

	TEFQX	AAIZX	Difference
Max Drawdown Largest peak-to-trough decline	-92.33%	-29.00%	-63.33%
Max Drawdown (1Y) Largest decline over 1 year	-29.26%	-17.47%	-11.79%
Max Drawdown (5Y) Largest decline over 5 years	-79.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-80.17%	—	—
Current Drawdown Current decline from peak	-73.68%	-13.44%	-60.24%
Average Drawdown Average peak-to-trough decline	-60.08%	-5.25%	-54.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.04%	5.79%	+5.25%

Volatility

TEFQX vs. AAIZX - Volatility Comparison

Firsthand Technology Opportunities Fund (TEFQX) has a higher volatility of 11.87% compared to Alger AI Enablers & Adopters Z (AAIZX) at 9.48%. This indicates that TEFQX's price experiences larger fluctuations and is considered to be riskier than AAIZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEFQX	AAIZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.87%	9.48%	+2.39%
Volatility (6M) Calculated over the trailing 6-month period	24.60%	17.87%	+6.73%
Volatility (1Y) Calculated over the trailing 1-year period	36.62%	28.91%	+7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.89%	27.99%	+45.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.22%	27.99%	+27.23%