Fund Evaluator:
Alger Mid Cap Focus A (ALOAX)
Follow This Fund
Best Performing in Mid-Cap Growth Over the Last Year
| 44.3% | PRIMECAP Odyssey Aggressive Growth (POAGX) |
| 21.1% | Eventide Gilead N (ETGLX) |
| 20.0% | Sit Small Cap Growth (SSMGX) |
| 19.6% | Goldman Sachs Small/Mid Cap Growth Inv (GTMTX) |
| 17.8% | ProFunds Mid Cap Growth Inv (MGPIX) |
Fund Details
Alger Mid Cap Focus A Overview
Alger Mid Cap Focus A (ALOAX) is an actively managed U.S. Equity Mid-Cap Growth fund. Alger launched the fund in 2021.
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 mid-cap companies. In addition, under normal market conditions, it invests at least 25% of its total assets in companies in the following group of industries: Health Care Equipment & Supplies, Health Care Technology, Biotechnology, Life Sciences Tools & Services, and/or Software, as defined by third party sources. The fund may have 25% or more of its total assets invested in any one of these industries. It is non-diversified.
About Alger Mid Cap Focus A (ALOAX)
There are 1 members of the management team with an average tenure of 7.22 years: Amy Zhang (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell Mid Cap Growth TR USD index with a weighting of 100%. Alger Mid Cap Focus A has 53 securities in its portfolio. The top 10 holdings constitute 34.5% 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 Mid Cap Focus A is part of the Equity global asset class and is within the U.S. Equity fund group. Alger Mid Cap Focus A has 5.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.3%. There is 5.8% allocated to foreign stock, and 0.0% 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 Mid Cap Focus A has 0.8% of the portfolio in cash.
Assets Under Management
The fund has $12 million in total assets, which is below the $672 million average for the Mid-Cap Growth 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.
ALOAX 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 Mid Cap Focus A expense ratio is high compared to funds in the Mid-Cap Growth category. Alger Mid Cap Focus A has an expense ratio of 1.15%, which is 5% higher than its category average, making the fund expense ratio grade a D. 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 Mid Cap Focus A has a portfolio turnover rate of 265%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 78% for the Mid-Cap Growth category.
Recently, in the month of August 2026, Alger Mid Cap Focus A returned 4.8%, which earned it a grade of A, as the Mid-Cap Growth category had an average return of 1.4%. 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 Mid Cap Focus A has a trailing yield of 0.00%, which is below the 0.03% category average. The fund normally distributes its income 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 Mid Cap Focus A Grades
Year to date, the fund has returned 11.7%, 4.5 percentage points better than the category, which translates into a grade of B. The fund has returned 16.4% over the past year (grade of A), 22.0% over the past three years (grade of A) and 3.0% per year over the past five years (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Alger Mid Cap Focus A, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
ALOAX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ALOAX Return (NAV) | 4.8% | 2.6% | 16.4% | 22.0% | 3.0% | na |
| ALOAX Grade | A | A | A | A | B | na |
| +/- Category | 3.4% | 3.2% | 10.5% | 9.9% | 0.6% | na |
| Mid-Cap Growth Avg | 1.4% | -0.6% | 5.9% | 12.1% | 2.3% | 11.1% |
| ALOAX Tax Cost Ratio | na | na | 0.0% | 0.0% | 0.8% | na |
ALOAX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ALOAX Return (NAV) | 11.7% | 15.0% | 31.5% | 16.6% | -37.4% | 10.0% | 84.4% | na | na | na | na |
| ALOAX Grade | B | A | A | F | F | D | A | na | na | na | na |
| +/- Category | 4.5% | 8.8% | 14.1% | -4.1% | -9.4% | -2.6% | 44.1% | na | na | na | na |
| Mid-Cap Growth Avg | 7.1% | 6.1% | 17.3% | 20.7% | -27.9% | 12.6% | 40.3% | 34.1% | -4.6% | 25.5% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 21.4% |
| Total Risk Index: | 1.76 - High |
| Category Risk Index: | 1.13 - High |
| Category Risk Grade: | F (89% Rank) |
| Beta: | 1.39 |
| R-Squared: | 70% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $348 Mil |
| Fund Total Assets: | $ 13 Mil |
| Share Class Type: | A |
| Portfolio Turnover: | 265% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 7.2 years | |||
| Average Tenure: 7.2 years | |||
| Managers (Year): Zhang Amy (2019) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 53 |
| % in Top 10 Holdings: | 34.5% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 5.8% |
Portfolio Allocation |
|
| Domestic Stock: | 88.3% |
| Foreign Stock: | 5.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 5.2% |
| Cash: | 0.8% |
Purchase Information
| Fund Family: | Alger |
| Phone Number: | 800-992-3863 |
| Website: | www.alger.com |
| Status: | Open |
| Inception Date: | July 29, 2021 |
| 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 (%): | 1.15% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.09% |
| Share Class: | Alger Mid Cap Focus Z |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
