CNEQ vs. QGRO

Last updated Aug 4, 2026

CNEQ (Alger Concentrated Equity ETF) and QGRO (American Century U.S. Quality Growth ETF) are both exchange-traded funds - CNEQ is a Large Cap Growth Equities fund actively managed by Alger, while QGRO is a Quality Factor fund tracking the American Century U.S. Quality Growth Index. CNEQ is actively managed, while QGRO is passively managed. Over the past year, CNEQ returned 29.37% vs 7.84% for QGRO. Their correlation of 0.82 means they have usually moved in the same direction. CNEQ charges 0.56%/yr vs 0.29%/yr for QGRO.

Performance

CNEQ vs. QGRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Concentrated Equity ETF (CNEQ) and American Century U.S. Quality Growth ETF (QGRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CNEQ achieves a 14.63% return, which is significantly higher than QGRO's 1.31% return.

CNEQ

• 1D: 2.55%
• 1M: -0.71%
• 6M: 15.95%
• YTD: 14.63%
• 1Y: 29.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 34.36%

QGRO

• 1D: 1.31%
• 1M: -0.28%
• 6M: 2.39%
• YTD: 1.31%
• 1Y: 7.84%
• 3Y*: 19.28%
• 5Y*: 9.69%
• 10Y*: —
• ALL TIME*: 14.87%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CNEQ Alger Concentrated Equity ETF	$6.99M	$6.30M	$7.86M
QGRO American Century U.S. Quality Growth ETF	$8.71M	$8.72M	$14.21M

CNEQ vs. QGRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNEQ Alger Concentrated Equity ETF	14.63%	33.61%	29.82%
QGRO American Century U.S. Quality Growth ETF	1.31%	15.18%	20.58%

Correlation

The correlation between CNEQ and QGRO is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024	0.82

The correlation between CNEQ and QGRO has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

CNEQ vs. QGRO - Sectors Allocation Comparison

Sectors	CNEQ	QGRO
Technology	47.2%	42.5%
Communication Services	17.9%	15.2%
Industrials	14.5%	12.3%
Consumer Cyclical	10.9%	8.3%
Healthcare	4.7%	11.6%
Utilities	3.2%	0.8%
Financial Services	1.7%	3.9%
Basic Materials	-	0.2%
Consumer Defensive	-	3.3%
Energy	-	1.2%
Real Estate	-	0.8%

Return for Risk

CNEQ vs. QGRO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CNEQ

CNEQ Risk / Return Rank: 43
CNEQ Sharpe Ratio Rank: 46
CNEQ Sortino Ratio Rank: 45
CNEQ Omega Ratio Rank: 43
CNEQ Calmar Ratio Rank: 42
CNEQ Martin Ratio Rank: 41

QGRO

QGRO Risk / Return Rank: 22
QGRO Sharpe Ratio Rank: 23
QGRO Sortino Ratio Rank: 22
QGRO Omega Ratio Rank: 21
QGRO Calmar Ratio Rank: 21
QGRO Martin Ratio Rank: 25

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CNEQ vs. QGRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and American Century U.S. Quality Growth ETF (QGRO). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CNEQ	QGRO	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.49	+0.67
Sortino ratio: Return per unit of downside risk	1.68	0.78	+0.90
Omega ratio: Gain probability vs. loss probability	1.21	1.09	+0.12
Calmar ratio: Return relative to maximum drawdown	1.53	0.58	+0.95
Martin ratio: Return relative to average drawdown	4.47	1.90	+2.57

CNEQ vs. QGRO - Sharpe Ratio Comparison

The current CNEQ Sharpe Ratio is 1.16, which is higher than the QGRO Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of CNEQ and QGRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CNEQ vs. QGRO - Drawdown Comparison

The maximum CNEQ drawdown since its inception was -27.58%, smaller than the maximum QGRO drawdown of -32.56%. Use the drawdown chart below to compare losses from any high point for CNEQ and QGRO.

Drawdown Indicators

	CNEQ	QGRO	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-32.56%	+4.98%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	-13.54%	-5.76%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.86%	—
Current Drawdown Current decline from peak	-5.79%	-2.05%	-3.74%
Average Drawdown Average peak-to-trough decline	-4.92%	-7.56%	+2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.58%	4.13%	+2.45%

Volatility

CNEQ vs. QGRO - Volatility Comparison

Alger Concentrated Equity ETF (CNEQ) has a higher volatility of 9.31% compared to American Century U.S. Quality Growth ETF (QGRO) at 4.19%. This indicates that CNEQ's price experiences larger fluctuations and is considered to be riskier than QGRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNEQ	QGRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	4.19%	+5.12%
Volatility (6M) Calculated over the trailing 6-month period	20.43%	12.83%	+7.60%
Volatility (1Y) Calculated over the trailing 1-year period	25.44%	16.20%	+9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.16%	21.21%	+5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.16%	22.83%	+4.33%

CNEQ vs. QGRO - Expense Ratio Comparison

CNEQ has a 0.56% expense ratio, which is higher than QGRO's 0.29% expense ratio.

Dividends

CNEQ vs. QGRO - Dividend Comparison

CNEQ's dividend yield for the trailing twelve months is around 0.46%, more than QGRO's 0.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CNEQ Alger Concentrated Equity ETF	0.46%	0.52%	0.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QGRO American Century U.S. Quality Growth ETF	0.18%	0.25%	0.25%	0.41%	0.46%	0.31%	0.22%	0.38%	0.13%

Frequently Asked Questions

Can I hold both CNEQ and QGRO in my portfolio?

CNEQ and QGRO have a correlation of 0.79, 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 QGRO?

CNEQ has higher volatility (9.31%) compared to QGRO (4.19%). In terms of maximum drawdown, CNEQ dropped -27.58% vs QGRO's -32.56%.

Which ETF is better, CNEQ or QGRO?

On 1-year performance, CNEQ leads with 29.37% vs 7.84% for QGRO. On fees, QGRO is cheaper at 0.29% per year. On volatility, QGRO has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNEQ or QGRO?

Over the 1-year period, CNEQ has performed better with a 29.37% return vs 7.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNEQ or QGRO?

QGRO is cheaper with a 0.29% expense ratio, compared with 0.56% for CNEQ.

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

CNEQ has the higher dividend yield at 0.46%, compared with 0.18% for QGRO.

What is the main difference between CNEQ and QGRO?

CNEQ is categorized as Large Cap Growth Equities, while QGRO is Quality Factor. They also come from different issuers: Alger and American Century. Their fees differ too: 0.56% for CNEQ and 0.29% for QGRO.

Which has better risk-adjusted returns?

CNEQ currently has the higher Sharpe Ratio (1.16 vs 0.49), 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.