CNEQ vs. SPIT

Last updated Aug 4, 2026

CNEQ (Alger Concentrated Equity ETF) and SPIT (F/m Emerald Special Situations ETF) are both Large Cap Growth Equities funds. Both are actively managed. Their correlation of 0.80 means they have usually moved in the same direction. CNEQ charges 0.56%/yr vs 0.89%/yr for SPIT.

Performance

CNEQ vs. SPIT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Concentrated Equity ETF (CNEQ) and F/m Emerald Special Situations ETF (SPIT). 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 lower than SPIT's 26.92% return.

CNEQ

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

SPIT

• 1D: 1.99%
• 1M: -3.14%
• 6M: 17.82%
• YTD: 26.92%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*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
SPIT F/m Emerald Special Situations ETF	$212.31K	$271.42K	$193.26K

CNEQ vs. SPIT - Yearly Performance Comparison

	2026 (YTD)	2025
CNEQ Alger Concentrated Equity ETF	14.63%	-2.93%
SPIT F/m Emerald Special Situations ETF	26.92%	5.31%

Correlation

The correlation between CNEQ and SPIT is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 6, 2025	0.80

Return for Risk

CNEQ vs. SPIT — 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

SPIT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPIT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and F/m Emerald Special Situations ETF (SPIT). 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	SPIT	Difference
Sharpe ratio: Return per unit of total volatility	1.16	—	—
Sortino ratio: Return per unit of downside risk	1.68	—	—
Omega ratio: Gain probability vs. loss probability	1.21	—	—
Calmar ratio: Return relative to maximum drawdown	1.53	—	—
Martin ratio: Return relative to average drawdown	4.47	—	—

Drawdowns

CNEQ vs. SPIT - Drawdown Comparison

The maximum CNEQ drawdown since its inception was -27.58%, which is greater than SPIT's maximum drawdown of -12.49%. Use the drawdown chart below to compare losses from any high point for CNEQ and SPIT.

Drawdown Indicators

	CNEQ	SPIT	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-12.49%	-15.09%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	—	—
Current Drawdown Current decline from peak	-5.79%	-5.71%	-0.08%
Average Drawdown Average peak-to-trough decline	-4.92%	-2.87%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.58%	—	—

Volatility

Volatility by Period

	CNEQ	SPIT	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.44%	26.61%	-1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.16%	26.61%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.16%	26.61%	+0.55%

CNEQ vs. SPIT - Expense Ratio Comparison

CNEQ has a 0.56% expense ratio, which is lower than SPIT's 0.89% expense ratio.

Dividends

CNEQ vs. SPIT - Dividend Comparison

CNEQ's dividend yield for the trailing twelve months is around 0.46%, less than SPIT's 5.66% yield.

Position	TTM	2025	2024
CNEQ Alger Concentrated Equity ETF	0.46%	0.52%	0.16%
SPIT F/m Emerald Special Situations ETF	5.66%	7.18%	0.00%

Frequently Asked Questions

Can I hold both CNEQ and SPIT in my portfolio?

CNEQ and SPIT have a correlation of 0.80, 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 SPIT?

On fees, CNEQ is cheaper at 0.56% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CNEQ or SPIT?

CNEQ is cheaper with a 0.56% expense ratio, compared with 0.89% for SPIT.

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

SPIT has the higher dividend yield at 5.66%, compared with 0.46% for CNEQ.

What is the main difference between CNEQ and SPIT?

They also come from different issuers: Alger and F/m. Their fees differ too: 0.56% for CNEQ and 0.89% for SPIT.