CNEQ vs. SPMO
Compare and contrast key facts about Alger Concentrated Equity ETF (CNEQ) and Invesco S&P 500® Momentum ETF (SPMO).
CNEQ and SPMO 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. SPMO is a passively managed fund by Invesco that tracks the performance of the S&P 500 Momentum Index. It was launched on Oct 9, 2015.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: CNEQ or SPMO.
Correlation
The correlation between CNEQ and SPMO is 0.86, 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. SPMO - Performance Comparison
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Key characteristics
CNEQ:
1.02
SPMO:
1.25
CNEQ:
1.55
SPMO:
1.85
CNEQ:
1.22
SPMO:
1.27
CNEQ:
1.20
SPMO:
1.62
CNEQ:
3.71
SPMO:
5.84
CNEQ:
8.88%
SPMO:
5.57%
CNEQ:
31.12%
SPMO:
24.93%
CNEQ:
-27.58%
SPMO:
-30.95%
CNEQ:
-4.01%
SPMO:
0.00%
Returns By Period
In the year-to-date period, CNEQ achieves a 4.07% return, which is significantly lower than SPMO's 10.94% return.
CNEQ
4.07%
24.78%
9.04%
31.77%
N/A
N/A
SPMO
10.94%
19.19%
12.47%
30.99%
21.91%
N/A
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CNEQ vs. SPMO - Expense Ratio Comparison
CNEQ has a 0.55% expense ratio, which is higher than SPMO's 0.13% expense ratio.
Risk-Adjusted Performance
CNEQ vs. SPMO — Risk-Adjusted Performance Rank
CNEQ
SPMO
CNEQ vs. SPMO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and Invesco S&P 500® Momentum ETF (SPMO). 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.
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Dividends
CNEQ vs. SPMO - Dividend Comparison
CNEQ's dividend yield for the trailing twelve months is around 0.15%, less than SPMO's 0.48% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
CNEQ Alger Concentrated Equity ETF | 0.15% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMO Invesco S&P 500® Momentum ETF | 0.48% | 0.48% | 1.63% | 1.66% | 0.52% | 1.27% | 1.39% | 1.05% | 0.77% | 1.94% | 0.36% |
Drawdowns
CNEQ vs. SPMO - Drawdown Comparison
The maximum CNEQ drawdown since its inception was -27.58%, smaller than the maximum SPMO drawdown of -30.95%. Use the drawdown chart below to compare losses from any high point for CNEQ and SPMO. For additional features, visit the drawdowns tool.
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Volatility
CNEQ vs. SPMO - Volatility Comparison
Alger Concentrated Equity ETF (CNEQ) has a higher volatility of 8.37% compared to Invesco S&P 500® Momentum ETF (SPMO) at 6.46%. This indicates that CNEQ's price experiences larger fluctuations and is considered to be riskier than SPMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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