CNEQ vs. GRNY

Last updated Jun 5, 2026

CNEQ (Alger Concentrated Equity ETF) and GRNY (Fundstrat Granny Shots U.S. Large Cap ETF) are both exchange-traded funds - CNEQ is a Large Cap Growth Equities fund actively managed by Alger, while GRNY is a Large Cap Blend Equities fund actively managed by Tidal ETFs. Both are actively managed. Over the past year, CNEQ returned 48.27% vs 30.94% for GRNY. Their correlation of 0.87 suggests significant overlap in exposure. CNEQ charges 0.55%/yr vs 0.75%/yr for GRNY.

Performance

CNEQ vs. GRNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Concentrated Equity ETF (CNEQ) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNEQ achieves a 19.60% return, which is significantly higher than GRNY's 12.12% return.

CNEQ

• 1D: -0.10%
• 1M: 10.87%
• YTD: 19.60%
• 6M: 17.96%
• 1Y: 48.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

GRNY

• 1D: 0.87%
• 1M: 3.78%
• YTD: 12.12%
• 6M: 10.16%
• 1Y: 30.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNEQ vs. GRNY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNEQ Alger Concentrated Equity ETF	19.60%	33.61%	2.93%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	12.12%	24.05%	-1.09%

Correlation

The correlation between CNEQ and GRNY is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 8, 2024	0.87

The correlation between CNEQ and GRNY has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

Return for Risk

CNEQ vs. GRNY — Risk / Return Rank

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

CNEQ

CNEQ Risk / Return Rank: 57
CNEQ Sharpe Ratio Rank: 66
CNEQ Sortino Ratio Rank: 60
CNEQ Omega Ratio Rank: 61
CNEQ Calmar Ratio Rank: 52
CNEQ Martin Ratio Rank: 48

GRNY

GRNY Risk / Return Rank: 51
GRNY Sharpe Ratio Rank: 53
GRNY Sortino Ratio Rank: 49
GRNY Omega Ratio Rank: 48
GRNY Calmar Ratio Rank: 55
GRNY Martin Ratio Rank: 49

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. GRNY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and Fundstrat Granny Shots U.S. Large Cap ETF (GRNY). 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	GRNY	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.77	+0.39
Sortino ratio: Return per unit of downside risk	2.77	2.37	+0.40
Omega ratio: Gain probability vs. loss probability	1.36	1.30	+0.07
Calmar ratio: Return relative to maximum drawdown	2.51	2.67	-0.16
Martin ratio: Return relative to average drawdown	7.91	8.16	-0.25
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. GRNY - Sharpe Ratio Comparison

The current CNEQ Sharpe Ratio is 2.16, which is comparable to the GRNY Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of CNEQ and GRNY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CNEQ	GRNY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	1.77	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	1.50	0.98	+0.52

Drawdowns

CNEQ vs. GRNY - Drawdown Comparison

The maximum CNEQ drawdown since its inception was -27.58%, which is greater than GRNY's maximum drawdown of -24.18%. Use the drawdown chart below to compare losses from any high point for CNEQ and GRNY.

Drawdown Indicators

	CNEQ	GRNY	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-24.18%	-3.40%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	-11.63%	-7.67%
Current Drawdown Current decline from peak	-1.01%	0.00%	-1.01%
Average Drawdown Average peak-to-trough decline	-4.89%	-4.02%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	3.80%	+2.32%

Volatility

CNEQ vs. GRNY - Volatility Comparison

Alger Concentrated Equity ETF (CNEQ) has a higher volatility of 6.57% compared to Fundstrat Granny Shots U.S. Large Cap ETF (GRNY) at 4.28%. This indicates that CNEQ's price experiences larger fluctuations and is considered to be riskier than GRNY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNEQ	GRNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.57%	4.28%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	17.19%	12.71%	+4.48%
Volatility (1Y) Calculated over the trailing 1-year period	22.51%	17.58%	+4.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.59%	23.17%	+3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.59%	23.17%	+3.42%

CNEQ vs. GRNY - Expense Ratio Comparison

CNEQ has a 0.55% expense ratio, which is lower than GRNY's 0.75% expense ratio.

Dividends

CNEQ vs. GRNY - Dividend Comparison

CNEQ's dividend yield for the trailing twelve months is around 0.44%, while GRNY has not paid dividends to shareholders.

Position	TTM	2025	2024
CNEQ Alger Concentrated Equity ETF	0.44%	0.52%	0.16%
GRNY Fundstrat Granny Shots U.S. Large Cap ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNEQ and GRNY in my portfolio?

CNEQ and GRNY have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CNEQ or GRNY?

CNEQ has higher volatility (6.57%) compared to GRNY (4.28%). In terms of maximum drawdown, CNEQ dropped -27.58% vs GRNY's -24.18%.

Which ETF is better, CNEQ or GRNY?

On 1-year performance, CNEQ leads with 48.27% vs 30.94% for GRNY. On fees, CNEQ is cheaper at 0.55% per year. On volatility, GRNY has been the lower-risk option at 4.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNEQ or GRNY?

Over the 1-year period, CNEQ has performed better with a 48.27% return vs 30.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNEQ or GRNY?

CNEQ is cheaper with a 0.55% expense ratio, compared with 0.75% for GRNY.

Which ETF pays a higher dividend yield, CNEQ or GRNY?

CNEQ has the higher dividend yield at 0.44%, compared with 0.00% for GRNY.

What is the main difference between CNEQ and GRNY?

CNEQ is categorized as Large Cap Growth Equities, while GRNY is Large Cap Blend Equities. They also come from different issuers: Alger and Tidal ETFs. Their fees differ too: 0.55% for CNEQ and 0.75% for GRNY.

Which has better risk-adjusted returns?

CNEQ currently has the higher Sharpe Ratio (2.16 vs 1.77), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.