CNEQ vs. FBCG

Last updated Apr 1, 2026

Compare and contrast key facts about Alger Concentrated Equity ETF (CNEQ) and Fidelity Blue Chip Growth ETF (FBCG).

CNEQ and FBCG 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. FBCG is an actively managed fund by Fidelity. It was launched on Jun 3, 2020.

Performance

CNEQ vs. FBCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Concentrated Equity ETF (CNEQ) and Fidelity Blue Chip Growth ETF (FBCG). The values are adjusted to include any dividend payments, if applicable.

CNEQ vs. FBCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNEQ Alger Concentrated Equity ETF	-9.48%	33.61%	28.84%
FBCG Fidelity Blue Chip Growth ETF	-8.61%	18.60%	20.87%

Returns By Period

In the year-to-date period, CNEQ achieves a -9.48% return, which is significantly lower than FBCG's -8.61% return.

CNEQ

• 1D: 4.85%
• 1M: -5.24%
• YTD: -9.48%
• 6M: -11.02%
• 1Y: 37.35%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBCG

• 1D: 4.81%
• 1M: -5.43%
• YTD: -8.61%
• 6M: -6.56%
• 1Y: 25.45%
• 3Y*: 25.41%
• 5Y*: 10.98%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CNEQ vs. FBCG - Expense Ratio Comparison

CNEQ has a 0.55% expense ratio, which is lower than FBCG's 0.59% expense ratio.

FBCG

Fidelity Blue Chip Growth ETF

CNEQ

Alger Concentrated Equity ETF

Return for Risk

CNEQ vs. FBCG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CNEQ

CNEQ Risk / Return Rank: 72
CNEQ Sharpe Ratio Rank: 75
CNEQ Sortino Ratio Rank: 77
CNEQ Omega Ratio Rank: 73
CNEQ Calmar Ratio Rank: 75
CNEQ Martin Ratio Rank: 63

FBCG

FBCG Risk / Return Rank: 64
FBCG Sharpe Ratio Rank: 59
FBCG Sortino Ratio Rank: 64
FBCG Omega Ratio Rank: 62
FBCG Calmar Ratio Rank: 69
FBCG Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CNEQ vs. FBCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and Fidelity Blue Chip Growth ETF (FBCG). 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.

	CNEQ	FBCG	Difference
Sharpe ratio Return per unit of total volatility	1.31	0.97	+0.34
Sortino ratio Return per unit of downside risk	1.91	1.54	+0.38
Omega ratio Gain probability vs. loss probability	1.26	1.22	+0.05
Calmar ratio Return relative to maximum drawdown	1.90	1.65	+0.25
Martin ratio Return relative to average drawdown	6.03	5.92	+0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CNEQ vs. FBCG - Sharpe Ratio Comparison

The current CNEQ Sharpe Ratio is 1.31, which is higher than the FBCG Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of CNEQ and FBCG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CNEQ	FBCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	0.97	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.67	+0.27

Correlation

The correlation between CNEQ and FBCG is 0.94, 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.

Dividends

CNEQ vs. FBCG - Dividend Comparison

CNEQ's dividend yield for the trailing twelve months is around 0.58%, more than FBCG's 0.05% yield.

	TTM	2025	2024	2023	2022	2021	2020
CNEQ Alger Concentrated Equity ETF	0.58%	0.52%	0.16%	0.00%	0.00%	0.00%	0.00%
FBCG Fidelity Blue Chip Growth ETF	0.05%	0.05%	0.12%	0.02%	0.00%	0.00%	0.01%

Drawdowns

CNEQ vs. FBCG - Drawdown Comparison

The maximum CNEQ drawdown since its inception was -27.58%, smaller than the maximum FBCG drawdown of -43.56%. Use the drawdown chart below to compare losses from any high point for CNEQ and FBCG.

Drawdown Indicators

	CNEQ	FBCG	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-43.56%	+15.98%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	-15.17%	-4.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-43.56%	—
Current Drawdown Current decline from peak	-15.39%	-11.09%	-4.30%
Average Drawdown Average peak-to-trough decline	-5.08%	-11.79%	+6.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.08%	4.23%	+1.85%

Volatility

CNEQ vs. FBCG - Volatility Comparison

Alger Concentrated Equity ETF (CNEQ) has a higher volatility of 9.61% compared to Fidelity Blue Chip Growth ETF (FBCG) at 8.22%. This indicates that CNEQ's price experiences larger fluctuations and is considered to be riskier than FBCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNEQ	FBCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.61%	8.22%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	17.92%	14.74%	+3.18%
Volatility (1Y) Calculated over the trailing 1-year period	28.62%	26.28%	+2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.00%	25.82%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.00%	25.92%	+1.08%