- Issuer
- Alger
- Inception Date
- Apr 4, 2024
- Category
- Large Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Assets Under Management
- $186M
Share Price Chart
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Performance
CNEQ Performance Chart
Alger Concentrated Equity ETF (CNEQ) is up 19.3% since the beginning of the year. CNEQ is currently trading at $41 per share.
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Returns By Period
Alger Concentrated Equity ETF (CNEQ) has returned 19.28% so far this year and 47.74% over the past 12 months.
Alger Concentrated Equity ETF
- 1D
- -1.96%
- 1M
- 2.47%
- YTD
- 19.28%
- 6M
- 17.74%
- 1Y
- 47.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CNEQ Monthly Returns History
Based on dividend-adjusted daily data since Apr 5, 2024, CNEQ's average daily return is +0.15%, while the average monthly return is +2.95%. At this rate, an investment would double in approximately 2.0 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2026 with a return of +16.8%, while the worst month was Mar 2025 at -9.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CNEQ closed higher 58% of trading days. The best single day was Apr 9, 2025 with a return of +13.0%, while the worst single day was Jan 27, 2025 at -7.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -1.25% | -3.27% | -5.24% | 16.84% | 13.26% | -0.41% | 19.28% | ||||||
| 2025 | 2.89% | -5.02% | -9.90% | 2.34% | 16.45% | 9.39% | 6.03% | 1.71% | 9.78% | 2.86% | -3.90% | -0.55% | 33.61% |
| 2024 | -4.52% | 8.90% | 7.05% | -4.18% | 3.15% | 5.22% | 1.78% | 9.17% | 0.93% | 29.82% |
Benchmark Metrics
Alger Concentrated Equity ETF has an annualized alpha of 10.21%, beta of 1.48, and R2 of 0.78 versus S&P 500 Index. Calculated based on daily prices since April 05, 2024.
- This ETF captured 193.08% of S&P 500 Index gains and 113.84% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- This ETF generated an annualized alpha of 10.21% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Alpha
- 10.21%
- Beta
- 1.48
- R²
- 0.78
- Upside Capture
- 193.08%
- Downside Capture
- 113.84%
Expense Ratio
CNEQ has an expense ratio of 0.55%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CNEQ ranks 55 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CNEQ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.37 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 2.78 | -0.30 |
| Martin ratioReturn relative to average drawdown | 7.72 | 12.44 | -4.72 |
Dividends
Dividend History
Alger Concentrated Equity ETF provided a 0.44% dividend yield over the last twelve months, with an annual payout of $0.18 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.18 | $0.18 | $0.04 |
Dividend yield | 0.44% | 0.52% | 0.16% |
Monthly Dividends
The table displays the monthly dividend distributions for Alger Concentrated Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.18 | $0.18 |
| 2024 | $0.04 | $0.04 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Alger Concentrated Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Alger Concentrated Equity ETF was 27.58%, occurring on Apr 8, 2025. Recovery took 41 trading sessions.
The current Alger Concentrated Equity ETF drawdown is 1.96%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -27.58%Apr 2025 | 1mo 19d | 1mo 29d | 3mo 18dFeb 2025 - Jun 2025 |
2026 correction2026 | -19.30%Mar 2026 | 5mo 1d | 25d | 5mo 26dOct 2025 - Apr 2026 |
2024 correction2024 | -15.11%Aug 2024 | 25d | 1mo 21d | 2mo 16dJul 2024 - Sep 2024 |
2026 pullback2026 | -8.57%Jun 2026 | 7d | 8d | 15dJun 2026 - Jun 2026 |
2024 pullback2024 | -7.66%Apr 2024 | 7d | 26d | 1mo 3dApr 2024 - May 2024 |
Drawdown Indicators
| CNEQ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.58% | -56.78% | +29.20% |
Max Drawdown (1Y)Largest decline over 1 year | -19.30% | -9.10% | -10.20% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.96% | -1.80% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -4.86% | -10.71% | +5.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.20% | 2.03% | +4.17% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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