Fund Evaluator:
Alger AI Enablers & Adopters A (AIFAX)
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Best Performing in Technology Over the Last Year
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Fund Details
Alger AI Enablers & Adopters A Overview
Alger AI Enablers & Adopters A (AIFAX) is an actively managed Sector Equity Technology fund. Alger launched the fund in 2024.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization that the advisor believes will benefit from artificial intelligence (“AI”), demonstrate promising growth potential, and are companies where AI can play a material role in potentially driving stock price performance over the next twelve to thirty-six months. The fund is non-diversified.
About Alger AI Enablers & Adopters A (AIFAX)
There are 1 members of the management team with an average tenure of 2.32 years: Patrick Kelly (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. Alger AI Enablers & Adopters A has 70 securities in its portfolio. The top 10 holdings constitute 54.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Alger AI Enablers & Adopters A is part of the Equity global asset class and is within the Sector Equity fund group. Alger AI Enablers & Adopters A has 12.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 79.4%. There is 12.2% allocated to foreign stock, and 0.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Alger AI Enablers & Adopters A has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $15 million in total assets, which is below the $1 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
AIFAX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Alger AI Enablers & Adopters A expense ratio is high compared to funds in the Technology category. Alger AI Enablers & Adopters A has an expense ratio of 0.85%, which is 31% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Alger AI Enablers & Adopters A has a portfolio turnover rate of 173%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Technology category.
Recently, in the month of July 2026, Alger AI Enablers & Adopters A returned -5.7%, which earned it a grade of B, as the Technology category had an average return of -8.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Alger AI Enablers & Adopters A has a trailing yield of 0.00%, which is below the 0.05% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Alger AI Enablers & Adopters A Grades
Year to date, the fund has returned 18.8%, 2.6 percentage points worse than the category, which translates into a grade of C. The fund has returned 32.8% over the past year (grade of C).
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AIFAX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| AIFAX Return (NAV) | -5.7% | 8.3% | 32.8% | na | na | na |
| AIFAX Grade | B | B | C | na | na | na |
| +/- Category | 2.9% | 1.5% | -1.8% | na | na | na |
| Technology Avg | -8.6% | 6.8% | 34.7% | 26.9% | 12.7% | 20.8% |
| AIFAX Tax Cost Ratio | na | na | 2.4% | na | na | na |
AIFAX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| AIFAX Return (NAV) | 18.8% | 40.9% | na | na | na | na | na | na | na | na | na |
| AIFAX Grade | C | A | na | na | na | na | na | na | na | na | na |
| +/- Category | -2.6% | 16.2% | na | na | na | na | na | na | na | na | na |
| Technology Avg | 21.4% | 24.7% | 28.3% | 49.6% | -38.2% | 17.2% | 56.9% | 41.2% | -3.9% | 37.4% | 10.8% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $25 Mil |
| Fund Total Assets: | $ 16 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 174% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.3 years | |||
| Average Tenure: 2.3 years | |||
| Managers (Year): Kelly Patrick (2024) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 70 |
| % in Top 10 Holdings: | 54.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 12.2% |
Portfolio Allocation |
|
| Domestic Stock: | 79.4% |
| Foreign Stock: | 12.2% |
| Preferred Stock: | 0.3% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 8.0% |
| Cash: | 0.1% |
Purchase Information
| Fund Family: | Alger |
| Phone Number: | 800-992-3863 |
| Website: | www.alger.com |
| Status: | Open |
| Inception Date: | April 4, 2024 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 500 |
| True No-Load: | No |
| Front Load Maximum: | 5.25% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 0.85% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Alger AI Enablers & Adopters Y |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
