CNEQ vs. ALAI
Compare and contrast key facts about Alger Concentrated Equity ETF (CNEQ) and Alger AI Enablers & Adopters ETF (ALAI).
CNEQ and ALAI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CNEQ is an actively managed fund by Alger. It was launched on Apr 4, 2024. ALAI 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: CNEQ or ALAI.
Correlation
The correlation between CNEQ and ALAI 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
CNEQ vs. ALAI - Performance Comparison
Key characteristics
CNEQ:
23.01%
ALAI:
24.47%
CNEQ:
-15.11%
ALAI:
-15.99%
CNEQ:
-4.55%
ALAI:
-3.91%
Returns By Period
In the year-to-date period, CNEQ achieves a 2.89% return, which is significantly lower than ALAI's 4.88% return.
CNEQ
2.89%
2.89%
31.44%
N/A
N/A
N/A
ALAI
4.88%
4.88%
37.47%
N/A
N/A
N/A
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CNEQ vs. ALAI - Expense Ratio Comparison
Both CNEQ and ALAI have an expense ratio of 0.55%.
Risk-Adjusted Performance
CNEQ vs. ALAI - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and Alger AI Enablers & Adopters ETF (ALAI). 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
CNEQ vs. ALAI - Dividend Comparison
CNEQ's dividend yield for the trailing twelve months is around 0.15%, less than ALAI's 0.63% yield.
| TTM | 2024 | |
|---|---|---|
CNEQ Alger Concentrated Equity ETF | 0.15% | 0.16% |
ALAI Alger AI Enablers & Adopters ETF | 0.63% | 0.66% |
Drawdowns
CNEQ vs. ALAI - Drawdown Comparison
The maximum CNEQ drawdown since its inception was -15.11%, smaller than the maximum ALAI drawdown of -15.99%. Use the drawdown chart below to compare losses from any high point for CNEQ and ALAI. For additional features, visit the drawdowns tool.
Volatility
CNEQ vs. ALAI - Volatility Comparison
The current volatility for Alger Concentrated Equity ETF (CNEQ) is 10.30%, while Alger AI Enablers & Adopters ETF (ALAI) has a volatility of 10.90%. This indicates that CNEQ experiences smaller price fluctuations and is considered to be less risky than ALAI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.