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.
Performance
ALAI vs. CNEQ - Performance Comparison
Returns By Period
ALAI
N/A
9.03%
24.16%
N/A
N/A
N/A
CNEQ
N/A
6.90%
21.26%
N/A
N/A
N/A
Key characteristics
| ALAI | CNEQ | |
|---|---|---|
| Daily Std Dev | 22.63% | 21.43% |
| Max Drawdown | -15.99% | -15.11% |
| Current Drawdown | -0.23% | -0.33% |
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ALAI vs. CNEQ - Expense Ratio Comparison
Both ALAI and CNEQ have an expense ratio of 0.55%.
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.
Risk-Adjusted Performance
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.
Not enough dataDividends
ALAI vs. CNEQ - Dividend Comparison
Neither ALAI nor CNEQ has paid dividends to shareholders.
Drawdowns
ALAI vs. CNEQ - Drawdown Comparison
The maximum ALAI drawdown since its inception was -15.99%, which is greater than CNEQ's maximum drawdown of -15.11%. 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) and Alger Concentrated Equity ETF (CNEQ) have volatilities of 6.60% and 6.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.