TVRIX vs. ALARX
TVRIX (Guggenheim Directional Allocation Fund) and ALARX (Alger Capital Appreciation Institutional Fund) are both Large Cap Growth Equities funds. Over the past 10 years, TVRIX returned 9.60%/yr vs 18.51%/yr for ALARX. Their correlation of 0.83 means they have usually moved in the same direction. TVRIX charges 1.09%/yr vs 1.12%/yr for ALARX.
Performance
TVRIX vs. ALARX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TVRIX having a 8.52% return and ALARX slightly lower at 8.50%. Over the past 10 years, TVRIX has underperformed ALARX with an annualized return of 9.60%, while ALARX has yielded a comparatively higher 18.51% annualized return.
TVRIX
- 1D
- 1.87%
- 1M
- -1.11%
- 6M
- 7.80%
- YTD
- 8.52%
- 1Y
- 18.61%
- 3Y*
- 12.34%
- 5Y*
- 5.88%
- 10Y*
- 9.60%
- ALL TIME*
- 10.08%
ALARX
- 1D
- 4.56%
- 1M
- -3.29%
- 6M
- 10.50%
- YTD
- 8.50%
- 1Y
- 22.54%
- 3Y*
- 31.80%
- 5Y*
- 14.71%
- 10Y*
- 18.51%
- ALL TIME*
- 12.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TVRIX vs. ALARX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TVRIX Guggenheim Directional Allocation Fund | 8.52% | 13.83% | 7.87% | 11.00% | -17.53% | 27.30% | 5.08% | 30.45% | -7.53% | 23.45% |
ALARX Alger Capital Appreciation Institutional Fund | 8.50% | 31.75% | 49.44% | 42.82% | -36.88% | 18.38% | 41.50% | 33.13% | -0.82% | 31.11% |
Correlation
The correlation between TVRIX and ALARX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 18, 2012 | 0.83 |
The correlation between TVRIX and ALARX has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.
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Return for Risk
TVRIX vs. ALARX — Risk / Return Rank
TVRIX
ALARX
TVRIX vs. ALARX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Guggenheim Directional Allocation Fund (TVRIX) and Alger Capital Appreciation Institutional Fund (ALARX). 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.
| TVRIX | ALARX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.16 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 1.15 | +0.84 |
| Martin ratioReturn relative to average drawdown | 8.08 | 3.55 | +4.53 |
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Drawdowns
TVRIX vs. ALARX - Drawdown Comparison
The maximum TVRIX drawdown since its inception was -39.36%, smaller than the maximum ALARX drawdown of -68.32%. Use the drawdown chart below to compare losses from any high point for TVRIX and ALARX.
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Drawdown Indicators
| TVRIX | ALARX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.36% | -68.32% | +28.96% |
Max Drawdown (1Y)Largest decline over 1 year | -8.45% | -18.65% | +10.20% |
Max Drawdown (3Y)Largest decline over 3 years | -24.87% | -27.77% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -24.87% | -46.86% | +21.99% |
Max Drawdown (10Y)Largest decline over 10 years | -39.36% | -46.86% | +7.50% |
Current DrawdownCurrent decline from peak | -3.21% | -7.49% | +4.28% |
Average DrawdownAverage peak-to-trough decline | -6.01% | -20.89% | +14.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.08% | 6.01% | -3.93% |
Volatility
TVRIX vs. ALARX - Volatility Comparison
The current volatility for Guggenheim Directional Allocation Fund (TVRIX) is 3.68%, while Alger Capital Appreciation Institutional Fund (ALARX) has a volatility of 7.95%. This indicates that TVRIX experiences smaller price fluctuations and is considered to be less risky than ALARX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TVRIX | ALARX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 7.95% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 19.04% | -9.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.74% | 24.03% | -12.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.57% | 28.31% | -13.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.82% | 25.03% | -7.21% |
TVRIX vs. ALARX - Expense Ratio Comparison
TVRIX has a 1.09% expense ratio, which is lower than ALARX's 1.12% expense ratio.
Dividends
TVRIX vs. ALARX - Dividend Comparison
TVRIX's dividend yield for the trailing twelve months is around 8.88%, more than ALARX's 6.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ALARX Alger Capital Appreciation Institutional Fund | 6.44% | 6.99% | 13.06% | 8.09% | 3.90% | 19.40% | 16.62% | 10.34% | 12.39% | 6.75% | 0.00% | 7.71% |
TVRIX Guggenheim Directional Allocation Fund | 8.88% | 9.64% | 0.00% | 2.03% | 0.71% | 14.34% | 0.30% | 16.62% | 14.33% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TVRIX and ALARX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ALARX has higher volatility (7.95%) compared to TVRIX (3.68%). In terms of maximum drawdown, TVRIX dropped -39.36% vs ALARX's -68.32%.
TVRIX currently has the higher Sharpe Ratio (1.43 vs 0.89), 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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