AOFAX Performance — Alger Small Cap Focus Fund, Class A
Data updated: 2026-09-25
AOFAX returned +15.44% year to date and +30.13% over one year to Jul 2026. Annualised returns are +11.87% over 3 years and +6.59% over 5 years. Against its US Small Growth category average the fund came out behind over three years but ahead over one: $100 invested three years ago grew to $140, against $142 for the category, and to $130 over one year, against $123. Volatility over the past three years was 20.09% a year. In the 12 months to Jul 2026 the fund lost a net $240.4M, and assets reached $853.77M.
AOFAX Growth of $100
What $100 invested in Alger Small Cap Focus Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the US Small Growth category average over the same months.
| Period | AOFAX | Category average |
|---|---|---|
| 1 year (Aug 2025 – Jul 2026) | $130 | $123 |
| 3 years (Aug 2023 – Jul 2026) | $140 | $142 |
| 5 years (Aug 2021 – Jul 2026) | $138 | $121 |
| Since data start (Aug 2019 – Jul 2026) | $136 | $189 |
AOFAX Trailing Returns
Total returns to Jul 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +15.44% |
| 1 year | +30.13% |
| 3 years (annualised) | +11.87% |
| 5 years (annualised) | +6.59% |
AOFAX Annual Returns
Calendar-year total returns of Alger Small Cap Focus Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jul) | +15.44% |
| 2025 | +6.90% |
| 2024 | +13.72% |
| 2023 | −0.52% |
| 2022 | −1.03% |
| 2021 | −0.75% |
| 2020 | −0.19% |
| 2019 (Aug–Dec) | −0.31% |
AOFAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +3.4% | −1.7% | −9.1% | +9.2% | +9.3% | +10.1% | −4.9% | — | — | — | — | — |
| 2025 | +1.0% | −7.9% | −11.4% | −0.3% | +6.2% | +8.8% | −0.2% | +5.5% | +3.1% | +7.5% | +0.7% | −4.3% |
| 2024 | −0.8% | +6.1% | +2.7% | −8.2% | +2.3% | −1.9% | +3.2% | +1.1% | +2.0% | +0.3% | +14.8% | −6.7% |
| 2023 | 0.0% | −0.1% | −0.1% | 0.0% | −0.1% | 0.0% | 0.0% | −0.1% | −0.1% | −0.1% | +0.1% | +0.1% |
| 2022 | −0.2% | −0.1% | −0.1% | −0.2% | −0.1% | −0.1% | +0.1% | −0.1% | −0.1% | 0.0% | −0.1% | −0.1% |
| 2021 | 0.0% | −0.1% | −0.1% | 0.0% | −0.1% | 0.0% | 0.0% | 0.0% | −0.1% | 0.0% | −0.2% | −0.1% |
| 2020 | 0.0% | −0.1% | −0.2% | +0.1% | +0.1% | 0.0% | 0.0% | 0.0% | −0.1% | −0.1% | +0.1% | 0.0% |
| 2019 | — | — | — | — | — | — | — | −0.1% | −0.1% | −0.1% | 0.0% | −0.1% |
AOFAX Risk
Risk measures from monthly returns over Aug 2023 – Jul 2026.
- 3-year volatility (annualised): 20.09%
- 3-year Sharpe ratio: 0.37 (vs 4.5% risk-free rate)
- Best month: +14.83% (Nov 2024)
- Worst month: −11.37% (Mar 2025)
AOFAX Fund Flows
Monthly money in and out of Alger Small Cap Focus Fund, from SEC Form N-PORT.
- 12-month net flow: −$240.4M
- 12-month gross sales (incl. reinvestments): $90.4M
- Sales ÷ redemptions: 0.27×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jul 2026 | $6.1M | $19.6M | −$13.6M |
| Jun 2026 | $6.5M | $26.8M | −$20.2M |
| May 2026 | $8.3M | $23.1M | −$14.8M |
| Apr 2026 | $6.3M | $26.7M | −$20.4M |
| Mar 2026 | $6.2M | $20.1M | −$13.8M |
| Feb 2026 | $5.8M | $26.0M | −$20.2M |
| Jan 2026 | $8.9M | $29.8M | −$20.9M |
| Dec 2025 | $6.9M | $28.2M | −$21.3M |
| Nov 2025 | $10.4M | $23.9M | −$13.5M |
| Oct 2025 | $9.9M | $32.3M | −$22.4M |
| Sep 2025 | $5.2M | $40.2M | −$35.0M |
| Aug 2025 | $9.8M | $34.0M | −$24.3M |
AOFAX Assets Under Management
Net assets of Alger Small Cap Focus Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-07-31 | $853.77M |
| 2026-04-30 | $789.76M |
| 2026-01-30 | $866.11M |
| 2025-10-31 | $925.09M |
| 2025-07-31 | $865.76M |
| 2025-04-30 | $860.14M |
| 2025-01-31 | $1.21B |
| 2024-10-31 | $1.22B |
| 2024-07-31 | $1.31B |
| 2024-04-30 | $1.40B |
| 2024-01-31 | $1.59B |
| 2023-10-31 | $1.53B |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.