14 important things you should know about Alger ALMAX mutual fund

Updated: June 27, 2020
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Before we start: if you’re looking for ALMAX “stock” price, you can quickly find it out by visiting Finny and typing "ALMAX quote". If you’re looking for a quick scoop on ALMAX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "ALMAX". You’ll get all this info in one place.

Are you looking to buy or sell ALMAX? Or perhaps you’re looking for ALMAX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this ALMAX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: ALMAX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: ALMAX buy or sell; the pros and cons of investing in ALMAX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to ALMAX.

And here is the list of questions we’ll answer:

  1. Describe Alger Funds: Alger SMid Cap Growth Fund; Class A Shares (ALMAX).
  2. What are ALMAX holdings?
  3. What is ALMAX performance? What are ALMAX historical returns?
  4. How many up and down years did ALMAX have historically?
  5. What is ALMAX dividend yield?
  6. What is ALMAX minimum initial investment amount?
  7. What is ALMAX expense ratio?
  8. Does ALMAX have any sales loads or 12b-1 distribution expenses?
  9. What is ALMAX tax efficiency (tax-cost ratio)?
  10. What is ALMAX beta? How would you assess ALMAX risk?
  11. What is ALMAX Sharpe ratio?
  12. What is ALMAX Finny Score? ALMAX buy or sell?
  13. What are the pros of investing in ALMAX? What are ALMAX buy reasons?
  14. What are the cons of investing in ALMAX? What are ALMAX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe Alger Funds: Alger SMid Cap Growth Fund; Class A Shares (ALMAX).

The Fund seeks long-term capital appreciation by investing primarily in companies with market capitalizations between $500 million and $10 billion.

2. What are ALMAX top holdings?

ALMAX has 50 stock holdings and 0 bond holdings.

The top 10 holdings represent 47.95% of total assets. Here are the top holdings:

Name Symbol % Assets
Nevro Corp NVRO 5.96%
FirstService Corp FSV.TO 5.79%
Chegg Inc CHGG 5.77%
Paylocity Holding Corp PCTY 5.76%
Casella Waste Systems Inc Class A CWST 5.08%
Insulet Corp PODD 5.08%
EPAM Systems Inc EPAM 4.32%
Planet Fitness Inc A PLNT 3.60%
Glaukos Corp GKOS 3.55%
US Physical Therapy Inc USPH 3.04%

3. What is ALMAX performance? What are ALMAX historical returns?

ALMAX has generated the following returns:

  • 1-month return is 21.77%;
  • 3-month return is -5.24%;
  • 1-year return is 11.80%;
  • 3-year return is 20.36%;
  • 5-year return is 13.15%;
  • 10-year return is 13.02%;
  • 15-year return is 11.49%.

4. How many up and down years did ALMAX have historically?

In the last 10 years, ALMAX had 7 up years and 3 down years.

5. What is ALMAX dividend yield?

ALMAX yield is 0%.

6. What is ALMAX minimum initial investment amount?

ALMAX minimum initial investment amount is $1.00K.

7. What is ALMAX expense ratio?

ALMAX expense ratio is 1.33%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses.

8. Does ALMAX have any sales loads or 12b-1 distribution expenses?

ALMAX 12b-1 distribution fee is 0.25. ALMAX front-end sales load is 5.25. ALMAX back-end sales load is 0.

9. What is ALMAX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 0.92%;
  • 3-year ax cost ratio is 2.56%.

10. What is ALMAX beta? How would you assess ALMAX risk?

  • 3-year beta is 1.25;
  • 5-year beta is 1.21;
  • 10-year beta is 1.19.

11. What is ALMAX Sharpe ratio?

  • 3-year Sharpe ratio is 0.52;
  • 5-year Sharpe ratio is 0.39;
  • 10-year Sharpe ratio is 0.57.

Analysis

12. What is ALMAX Finny Score? ALMAX buy or sell?

ALMAX Finny Score is 40. Our quantitative analysis shows 4 reasons to buy ALMAX and 6 reasons to sell it, resulting in the Finny Score of 40.

13. What are the pros of investing in ALMAX? What are ALMAX buy reasons?

The following are ALMAX strengths from our perspective:

  • ALMAX 3-year return is 20.36%, which is higher than the 3-year return of the benchmark index (Russell 2500 Growth TR USD), 9.62%.
  • ALMAX 5-year return is 13.15%, which is higher than the 5-year return of the benchmark index (Russell 2500 Growth TR USD), 7.8%.
  • ALMAX 10-year return is 13.02%, which is higher than the 10-year return of the benchmark index (Russell 2500 Growth TR USD), 12.84%.
  • ALMAX 15-year return is 11.49%, which is higher than the 15-year return of the benchmark index (Russell 2500 Growth TR USD), 9.88%.

14. What are the cons of investing in ALMAX? What are ALMAX negatives?

The following are ALMAX weaknesses from our perspective:

  • ALMAX net assets are $145.90 million. This fund is not a popular choice with retail investors.
  • Warning: this fund has a 12b1 and front-end sales fee. The maximum 12b1 fee is 0.25%, while the maximum front-end sales load is 5.25%. A 12b-1 fee is an annual marketing or distribution fee on a mutual fund. Front-end sales load, also known as sales charge, is a fee paid when mutual funds shares are purchased. Those fees are subtracted from your total investable assets.
  • ALMAX expense ratio is 1.33%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
  • ALMAX 3-year Beta is 1.25, which is higher than the index (S&P 500 TR USD) 3-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 3 years.
  • ALMAX 5-year Beta is 1.21, which is higher than the index (S&P 500 TR USD) 5-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 5 years.
  • ALMAX 10-year Beta is 1.19, which is higher than the index (S&P 500 TR USD) 10-year beta, 1.00. The fund is perceived to be riskier than the comparable index based on the previous 10 years.
In the ALMAX review, we covered ALMAX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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