ALAI vs ETY
Alger AI Enablers & Adopters ETF vs Eaton Vance Tax-Managed Diversified Equity Income Fund
Which is better, ALAI or ETY?
ALAI has been ahead.
ALAI has a lower expense ratio. ALAI led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ALAI | ETY |
|---|---|---|
| Expense Ratio | 0.58%Best | 1.06% |
| AUM | $2.1B | $1.8B |
| Dividend Yield | 1.31% | 7.58% |
| Holdings | 146 | 57 |
| YTD Return | +12.15%Best | -3.67% |
| 1Y Return | +10.90%Best | -5.28% |
| 3Y Return (annualized) | - | +15.12% |
| 5Y Return (annualized) | - | +6.87% |
| Volatility (annualized) | 26.4% | 12.3%Best |
| Max Drawdown | -29.4% | -21.3%Best |
| $10,000 over 2.6 years | $20,716Best | $12,758 |
| Fund Family | Alger | Eaton Vance |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Apr 4, 2024 | Nov 27, 2006 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Apr 5, 2024 to Nov 11, 2026 (2.6 years).
ALAI vs ETY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.6 years both funds cover.
ALAI vs ETY Performance
Alger AI Enablers & Adopters ETF (ALAI) is an ETF from Alger and Eaton Vance Tax-Managed Diversified Equity Income Fund (ETY) is an ETF from Eaton Vance. Over the past year ALAI returned +10.90% while ETY returned -5.28%. Year to date, ALAI is up 12.15% versus a loss of 3.67% for ETY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ALAI has been the more volatile fund, with annualized monthly volatility of 26.4% compared with 12.3% for ETY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -29.4% for ALAI and -21.3% for ETY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ALAI charges 0.58% per year while ETY charges 1.06%. On a $10,000 position that is $58 vs $106 annually, a gap of $48 per year that compounds over a long holding period. On income, ALAI currently yields 1.31% against 7.58% for ETY.
Holdings Overlap
At least 51.1% of ETY's money is in holdings ALAI also owns.
Stated as a floor: for ALAI, our book for it covers 95.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
14 positions in common, counted across the 58 positions we hold weights for in ALAI and 56 in ETY, against full books of 146 and 57.
Top Shared Holdings
| Stock | Weight in ALAI | Weight in ETY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 13.17% | 10.19% | 2.98% |
| MSFTMicrosoft Corp | 8.15% | 6.74% | 1.41% |
| GOOGAlphabet Inc. C | 4.62% | 6.59% | 1.97% |
| AMZNAmazon.Com Inc | 4.83% | 5.25% | 0.42% |
| AVGOBroadcom Inc | 3.72% | 3.93% | 0.21% |
| METAMeta Platforms Inc | 5.14% | 2.41% | 2.73% |
| AAPLApple Inc | 1.76% | 5.20% | 3.44% |
| STXSeagate Technolo | 3.35% | 1.32% | 2.03% |
| MUMicron Technology, Inc. | 2.42% | 1.85% | 0.57% |
| AMDAdvanced Micro Devices Inc | 2.23% | 1.37% | 0.86% |
51.1% of ETY is already inside ALAI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, ALAI or ETY?
ALAI has an expense ratio of 0.58% while ETY charges 1.06%. ALAI is the cheaper option, by $48 a year on a $10,000 investment.
Which performed better, ALAI or ETY?
Over the past year ALAI returned +10.90% vs -5.28% for ETY, so ALAI leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ALAI or ETY?
ALAI has been the more volatile fund at 26.4% annualized versus 12.3% for ETY. Worst drawdown: ALAI -29.4% vs ETY -21.3%.
Should I hold both ALAI and ETY?
ALAI and ETY have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ALAI and ETY?
At least 51.1% of ETY's money is in holdings ALAI also owns. Our book for ALAI is partial, so the real figure is this or higher. They hold 14 positions in common, counted across the 58 positions we hold weights for in ALAI and 56 in ETY.
Which pays a higher dividend, ALAI or ETY?
ALAI yields 1.31% while ETY yields 7.58%, so ETY currently pays the higher dividend yield.
Is ETY better than ALAI?
ALAI has a lower expense ratio. ALAI led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.