ALAI vs. CNEQ
Compare and contrast key facts about Alger AI Enablers & Adopters ETF (ALAI) and Alger Concentrated Equity ETF (CNEQ).
ALAI and CNEQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ALAI is an actively managed fund by Alger. It was launched on Apr 4, 2024. CNEQ is an actively managed fund by Alger. It was launched on Apr 4, 2024.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: ALAI or CNEQ.
Correlation
The correlation between ALAI and CNEQ is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
ALAI vs. CNEQ - Performance Comparison
Key characteristics
ALAI:
0.36
CNEQ:
0.32
ALAI:
0.70
CNEQ:
0.64
ALAI:
1.10
CNEQ:
1.09
ALAI:
0.39
CNEQ:
0.35
ALAI:
1.39
CNEQ:
1.28
ALAI:
8.28%
CNEQ:
7.51%
ALAI:
32.17%
CNEQ:
30.11%
ALAI:
-29.36%
CNEQ:
-27.58%
ALAI:
-22.51%
CNEQ:
-20.81%
Returns By Period
The year-to-date returns for both investments are quite close, with ALAI having a -14.17% return and CNEQ slightly higher at -14.14%.
ALAI
-14.17%
-6.15%
-5.71%
13.67%
N/A
N/A
CNEQ
-14.14%
-6.86%
-7.02%
11.35%
N/A
N/A
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ALAI vs. CNEQ - Expense Ratio Comparison
Both ALAI and CNEQ have an expense ratio of 0.55%.
Risk-Adjusted Performance
ALAI vs. CNEQ — Risk-Adjusted Performance Rank
ALAI
CNEQ
ALAI vs. CNEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger AI Enablers & Adopters ETF (ALAI) and Alger Concentrated Equity ETF (CNEQ). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
ALAI vs. CNEQ - Dividend Comparison
ALAI's dividend yield for the trailing twelve months is around 0.77%, more than CNEQ's 0.18% yield.
| TTM | 2024 | |
|---|---|---|
ALAI Alger AI Enablers & Adopters ETF | 0.77% | 0.66% |
CNEQ Alger Concentrated Equity ETF | 0.18% | 0.16% |
Drawdowns
ALAI vs. CNEQ - Drawdown Comparison
The maximum ALAI drawdown since its inception was -29.36%, which is greater than CNEQ's maximum drawdown of -27.58%. Use the drawdown chart below to compare losses from any high point for ALAI and CNEQ. For additional features, visit the drawdowns tool.
Volatility
ALAI vs. CNEQ - Volatility Comparison
Alger AI Enablers & Adopters ETF (ALAI) has a higher volatility of 19.57% compared to Alger Concentrated Equity ETF (CNEQ) at 18.19%. This indicates that ALAI's price experiences larger fluctuations and is considered to be riskier than CNEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.