CNEQ vs. ONEQ
Compare and contrast key facts about Alger Concentrated Equity ETF (CNEQ) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ).
CNEQ and ONEQ 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. ONEQ is a passively managed fund by Fidelity that tracks the performance of the NASDAQ Composite Index. It was launched on Sep 25, 2003.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CNEQ or ONEQ.
Correlation
The correlation between CNEQ and ONEQ is 0.92, 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. ONEQ - Performance Comparison
Key characteristics
CNEQ:
0.38
ONEQ:
0.17
CNEQ:
0.71
ONEQ:
0.42
CNEQ:
1.10
ONEQ:
1.06
CNEQ:
0.41
ONEQ:
0.18
CNEQ:
1.53
ONEQ:
0.69
CNEQ:
7.44%
ONEQ:
6.15%
CNEQ:
30.12%
ONEQ:
25.34%
CNEQ:
-27.58%
ONEQ:
-55.09%
CNEQ:
-20.60%
ONEQ:
-16.84%
Returns By Period
In the year-to-date period, CNEQ achieves a -13.91% return, which is significantly lower than ONEQ's -13.15% return.
CNEQ
-13.91%
-6.62%
-5.96%
11.64%
N/A
N/A
ONEQ
-13.15%
-5.57%
-8.50%
4.25%
15.73%
14.02%
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CNEQ vs. ONEQ - Expense Ratio Comparison
CNEQ has a 0.55% expense ratio, which is higher than ONEQ's 0.21% expense ratio.
Risk-Adjusted Performance
CNEQ vs. ONEQ — Risk-Adjusted Performance Rank
CNEQ
ONEQ
CNEQ vs. ONEQ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and Fidelity NASDAQ Composite Index Tracking Stock (ONEQ). 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.
Dividends
CNEQ vs. ONEQ - Dividend Comparison
CNEQ's dividend yield for the trailing twelve months is around 0.18%, less than ONEQ's 0.72% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNEQ Alger Concentrated Equity ETF | 0.18% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ONEQ Fidelity NASDAQ Composite Index Tracking Stock | 0.72% | 0.65% | 0.71% | 0.97% | 0.54% | 0.71% | 1.64% | 1.08% | 0.84% | 1.12% | 1.04% | 1.19% |
Drawdowns
CNEQ vs. ONEQ - Drawdown Comparison
The maximum CNEQ drawdown since its inception was -27.58%, smaller than the maximum ONEQ drawdown of -55.09%. Use the drawdown chart below to compare losses from any high point for CNEQ and ONEQ. For additional features, visit the drawdowns tool.
Volatility
CNEQ vs. ONEQ - Volatility Comparison
Alger Concentrated Equity ETF (CNEQ) has a higher volatility of 18.53% compared to Fidelity NASDAQ Composite Index Tracking Stock (ONEQ) at 16.72%. This indicates that CNEQ's price experiences larger fluctuations and is considered to be riskier than ONEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.