CNEQ vs. SMH
Compare and contrast key facts about Alger Concentrated Equity ETF (CNEQ) and VanEck Vectors Semiconductor ETF (SMH).
CNEQ and SMH 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. SMH is a passively managed fund by VanEck that tracks the performance of the MVIS US Listed Semiconductor 25 Index. It was launched on Dec 20, 2011.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CNEQ or SMH.
Key characteristics
| CNEQ | SMH | |
|---|---|---|
| Daily Std Dev | 22.81% | 33.80% |
| Max Drawdown | -15.11% | -95.73% |
| Current Drawdown | -3.68% | -16.88% |
Correlation
The correlation between CNEQ and SMH is 0.88, 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. SMH - Performance Comparison
The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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CNEQ vs. SMH - Expense Ratio Comparison
CNEQ has a 0.55% expense ratio, which is higher than SMH's 0.35% expense ratio.
Risk-Adjusted Performance
CNEQ vs. SMH - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and VanEck Vectors Semiconductor ETF (SMH). 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.
Not enough dataDividends
CNEQ vs. SMH - Dividend Comparison
CNEQ has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.45%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNEQ Alger Concentrated Equity ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMH VanEck Vectors Semiconductor ETF | 0.45% | 0.60% | 2.37% | 1.02% | 1.38% | 6.00% | 3.75% | 2.85% | 1.61% | 4.28% | 2.31% | 3.11% |
Drawdowns
CNEQ vs. SMH - Drawdown Comparison
The maximum CNEQ drawdown since its inception was -15.11%, smaller than the maximum SMH drawdown of -95.73%. Use the drawdown chart below to compare losses from any high point for CNEQ and SMH. For additional features, visit the drawdowns tool.
Volatility
CNEQ vs. SMH - Volatility Comparison
The current volatility for Alger Concentrated Equity ETF (CNEQ) is 7.23%, while VanEck Vectors Semiconductor ETF (SMH) has a volatility of 12.62%. This indicates that CNEQ experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.