Fund Evaluator:
Firsthand Alternative Energy (ALTEX)
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Best Performing in Miscellaneous Sector Over the Last Year
| 95.5% | Firsthand Alternative Energy (ALTEX) |
| 41.1% | Goldman Sachs Clean Energy Income Inv (GCEJX) |
| 27.2% | Fairholme (FAIRX) |
| -22.8% | Kinetics Internet No Load (WWWFX) |
Fund Details
Firsthand Alternative Energy Overview
Firsthand Alternative Energy (ALTEX) is an actively managed Sector Equity Miscellaneous Sector fund. Firsthand Funds launched the fund in 2007.
The investment seeks long-term growth of capital. The fund normally invests at least 80% of its assets in alternative energy and alternative energy technology companies, both U.S. and international. It may purchase stocks of any capitalization, including, but not limited to, large-cap, mid-cap or small-cap stocks. The fund's international stock investments may include stocks of companies based in or doing substantial business in both developed markets and emerging markets. It may also from time to time, as part of its principal investment strategies, invest a substantial portion of its assets in cash or cash equivalents. The fund is non-diversified.
About Firsthand Alternative Energy (ALTEX)
There are 1 members of the management team with an average tenure of 18.68 years: Kevin Landis (2007). 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 NASDAQ Composite TR USD index with a weighting of 100%. Firsthand Alternative Energy has 38 securities in its portfolio. The top 10 holdings constitute 74.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is considered to have an ESG focus with its investment selection and management.
Firsthand Alternative Energy is part of the Equity global asset class and is within the Sector Equity fund group. Firsthand Alternative Energy has 13.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 70.1%. There is 13.7% 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). Firsthand Alternative Energy has 16.2% of the portfolio in cash.
Assets Under Management
The fund has $16 million in total assets, which is below the $95 million average for the Miscellaneous Sector 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.
ALTEX 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 Firsthand Alternative Energy expense ratio is high compared to funds in the Miscellaneous Sector category. Firsthand Alternative Energy has an expense ratio of 2.01%, which is 39% higher than its category average, making the fund expense ratio grade a F. 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. Firsthand Alternative Energy has a portfolio turnover rate of 26%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 21% for the Miscellaneous Sector category.
Recently, in the month of June 2026, Firsthand Alternative Energy returned 0.6%, which earned it a grade of B, as the Miscellaneous Sector category had an average return of -1.2%. 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.
Firsthand Alternative Energy has a trailing yield of 0.00%, which is below the 0.52% 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.
Firsthand Alternative Energy Grades
Year to date, the fund has returned 60.9%, 40.9 percentage points better than the category, which translates into a grade of A. The fund has returned 95.5% over the past year (grade of A), 18.2% over the past three years (grade of C) and 6.1% per year over the past five years (grade of C) and 14.3% per year over the past 10 years (grade of D).
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ALTEX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ALTEX Return (NAV) | 0.6% | 39.2% | 95.5% | 18.2% | 6.1% | 14.3% |
| ALTEX Grade | B | A | A | C | C | D |
| +/- Category | 1.8% | 37.7% | 73.3% | 0.7% | -0.2% | -1.3% |
| Miscellaneous Sector Avg | -1.2% | 1.5% | 22.2% | 17.5% | 6.3% | 15.6% |
| ALTEX Tax Cost Ratio | na | na | 3.1% | 1.4% | 0.9% | 0.5% |
ALTEX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ALTEX Return (NAV) | 60.9% | 21.8% | -6.8% | -2.3% | -18.3% | -5.1% | 83.9% | 40.6% | -18.6% | 27.3% | -9.3% |
| ALTEX Grade | A | C | C | B | D | F | A | A | C | B | F |
| +/- Category | 40.9% | 11.3% | -34.9% | -3.1% | -13.0% | -18.3% | 45.2% | 13.5% | -1.0% | -0.9% | -17.0% |
| Miscellaneous Sector Avg | 19.9% | 10.5% | 28.1% | 0.8% | -5.2% | 13.2% | 38.7% | 27.1% | -17.6% | 28.2% | 7.8% |
| Risk Measures | |
| Standard Deviation: | 35.8% |
| Total Risk Index: | 2.95 - High |
| Category Risk Index: | 1.24 - High |
| Category Risk Grade: | F (82% Rank) |
| Beta: | 2.19 |
| R-Squared: | 60% |
| 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: | Annually |
| Total Assets: | $16 Mil |
| Fund Total Assets: | $ 17 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 26% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 18.7 years | |||
| Average Tenure: 18.7 years | |||
| Managers (Year): Landis Kevin (2007) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 38 |
| % in Top 10 Holdings: | 74.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 13.7% |
Portfolio Allocation |
|
| Domestic Stock: | 70.1% |
| Foreign Stock: | 13.7% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 16.2% |
Purchase Information
| Fund Family: | Firsthand Funds |
| Phone Number: | 888-884-2675 |
| Website: | www.firsthandfunds.com |
| Status: | Open |
| Inception Date: | October 29, 2007 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 2.01% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.44% |
| Share Class: | Firsthand Alternative Energy |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
