CNEQ vs. MEME

Last updated Jun 4, 2026

CNEQ (Alger Concentrated Equity ETF) and MEME (Roundhill Meme Stock ETF) are both Large Cap Growth Equities funds. Both are actively managed. A 0.67 correlation means they provide meaningful diversification when combined. CNEQ charges 0.55%/yr vs 0.69%/yr for MEME.

Performance

CNEQ vs. MEME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Concentrated Equity ETF (CNEQ) and Roundhill Meme Stock ETF (MEME). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNEQ achieves a 19.72% return, which is significantly lower than MEME's 79.03% return.

CNEQ

• 1D: -0.91%
• 1M: 11.24%
• YTD: 19.72%
• 6M: 19.16%
• 1Y: 49.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MEME

• 1D: -5.29%
• 1M: 25.28%
• YTD: 79.03%
• 6M: 68.18%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CNEQ vs. MEME - Yearly Performance Comparison

	2026 (YTD)	2025
CNEQ Alger Concentrated Equity ETF	19.72%	-3.58%
MEME Roundhill Meme Stock ETF	79.03%	-36.83%

Correlation

The correlation between CNEQ and MEME is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 9, 2025	0.67

CNEQ vs. MEME - Sectors Allocation Comparison

Sectors	CNEQ	MEME
Technology	47.4%	58.8%
Communication Services	19.2%	5.5%
Consumer Cyclical	13.4%	-
Industrials	11.0%	29.9%
Healthcare	4.6%	5.4%
Utilities	2.9%	10.7%
Financial Services	1.6%	5.7%
Basic Materials	-	4.6%
Consumer Defensive	-	-
Energy	-	4.8%
Real Estate	-	-

Return for Risk

CNEQ vs. MEME — 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: 60
CNEQ Calmar Ratio Rank: 52
CNEQ 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. MEME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and Roundhill Meme Stock ETF (MEME). 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	MEME	Difference
Sharpe ratio: Return per unit of total volatility	2.22	—	—
Sortino ratio: Return per unit of downside risk	2.84	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.59	—	—
Martin ratio: Return relative to average drawdown	8.16	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	CNEQ	MEME	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.51	0.28	+1.22

Drawdowns

CNEQ vs. MEME - Drawdown Comparison

The maximum CNEQ drawdown since its inception was -27.58%, smaller than the maximum MEME drawdown of -48.78%. Use the drawdown chart below to compare losses from any high point for CNEQ and MEME.

Drawdown Indicators

	CNEQ	MEME	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-48.78%	+21.20%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	—	—
Current Drawdown Current decline from peak	-0.91%	-5.93%	+5.02%
Average Drawdown Average peak-to-trough decline	-4.89%	-29.90%	+25.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	—	—

Volatility

Volatility by Period

	CNEQ	MEME	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.55%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	22.51%	74.19%	-51.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.62%	74.19%	-47.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.62%	74.19%	-47.57%

CNEQ vs. MEME - Expense Ratio Comparison

CNEQ has a 0.55% expense ratio, which is lower than MEME's 0.69% expense ratio.

Dividends

CNEQ vs. MEME - Dividend Comparison

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

Position	TTM	2025	2024
CNEQ Alger Concentrated Equity ETF	0.44%	0.52%	0.16%
MEME Roundhill Meme Stock ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CNEQ and MEME in my portfolio?

CNEQ and MEME have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CNEQ or MEME?

On fees, CNEQ is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNEQ or MEME?

CNEQ is cheaper with a 0.55% expense ratio, compared with 0.69% for MEME.

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

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

What is the main difference between CNEQ and MEME?

They also come from different issuers: Alger and Roundhill. Their fees differ too: 0.55% for CNEQ and 0.69% for MEME.