CNEQ vs. XOMO

Last updated Aug 4, 2026

CNEQ (Alger Concentrated Equity ETF) and XOMO (YieldMax XOM Option Income Strategy ETF) are both exchange-traded funds - CNEQ is a Large Cap Growth Equities fund actively managed by Alger, while XOMO is a Derivative Income fund actively managed by YieldMax. Both are actively managed. Over the past year, CNEQ returned 29.37% vs 29.81% for XOMO. Their -0.10 correlation means they have often moved in opposite directions in the past. CNEQ charges 0.56%/yr vs 1.01%/yr for XOMO.

Performance

CNEQ vs. XOMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Concentrated Equity ETF (CNEQ) and YieldMax XOM Option Income Strategy ETF (XOMO). 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 XOMO's 20.15% return.

CNEQ

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

XOMO

• 1D: -0.09%
• 1M: 10.85%
• 6M: 7.87%
• YTD: 20.15%
• 1Y: 29.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.81%

*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
XOMO YieldMax XOM Option Income Strategy ETF	$559.24K	$694.66K	$715.05K

CNEQ vs. XOMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
CNEQ Alger Concentrated Equity ETF	14.63%	33.61%	29.82%
XOMO YieldMax XOM Option Income Strategy ETF	20.15%	6.90%	-6.04%

Correlation

The correlation between CNEQ and XOMO is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.28
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024	-0.10

The correlation between CNEQ and XOMO shifts across timeframes, from -0.28 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CNEQ vs. XOMO — 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

XOMO

XOMO Risk / Return Rank: 52
XOMO Sharpe Ratio Rank: 59
XOMO Sortino Ratio Rank: 55
XOMO Omega Ratio Rank: 57
XOMO Calmar Ratio Rank: 46
XOMO Martin Ratio Rank: 40

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. XOMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Concentrated Equity ETF (CNEQ) and YieldMax XOM Option Income Strategy ETF (XOMO). 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	XOMO	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.45	-0.29
Sortino ratio: Return per unit of downside risk	1.68	1.96	-0.28
Omega ratio: Gain probability vs. loss probability	1.21	1.26	-0.05
Calmar ratio: Return relative to maximum drawdown	1.53	1.74	-0.21
Martin ratio: Return relative to average drawdown	4.47	4.35	+0.13

CNEQ vs. XOMO - Sharpe Ratio Comparison

The current CNEQ Sharpe Ratio is 1.16, which is comparable to the XOMO Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of CNEQ and XOMO, 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. XOMO - Drawdown Comparison

The maximum CNEQ drawdown since its inception was -27.58%, which is greater than XOMO's maximum drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for CNEQ and XOMO.

Drawdown Indicators

	CNEQ	XOMO	Difference
Max Drawdown Largest peak-to-trough decline	-27.58%	-18.90%	-8.68%
Max Drawdown (1Y) Largest decline over 1 year	-19.30%	-17.25%	-2.05%
Current Drawdown Current decline from peak	-5.79%	-7.65%	+1.86%
Average Drawdown Average peak-to-trough decline	-4.92%	-7.50%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.58%	6.89%	-0.31%

Volatility

CNEQ vs. XOMO - Volatility Comparison

Alger Concentrated Equity ETF (CNEQ) has a higher volatility of 9.31% compared to YieldMax XOM Option Income Strategy ETF (XOMO) at 6.21%. This indicates that CNEQ's price experiences larger fluctuations and is considered to be riskier than XOMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CNEQ	XOMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	6.21%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	20.43%	17.24%	+3.19%
Volatility (1Y) Calculated over the trailing 1-year period	25.44%	20.67%	+4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.16%	19.19%	+7.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.16%	19.19%	+7.97%

CNEQ vs. XOMO - Expense Ratio Comparison

CNEQ has a 0.56% expense ratio, which is lower than XOMO's 1.01% expense ratio.

Dividends

CNEQ vs. XOMO - Dividend Comparison

CNEQ's dividend yield for the trailing twelve months is around 0.46%, less than XOMO's 37.07% yield.

Position	TTM	2025	2024	2023
CNEQ Alger Concentrated Equity ETF	0.46%	0.52%	0.16%	0.00%
XOMO YieldMax XOM Option Income Strategy ETF	37.07%	31.64%	26.94%	5.13%

Frequently Asked Questions

Can I hold both CNEQ and XOMO in my portfolio?

CNEQ and XOMO have a correlation of -0.28, 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 XOMO?

CNEQ has higher volatility (9.31%) compared to XOMO (6.21%). In terms of maximum drawdown, CNEQ dropped -27.58% vs XOMO's -18.90%.

Which ETF is better, CNEQ or XOMO?

On 1-year performance, XOMO leads with 29.81% vs 29.37% for CNEQ. On fees, CNEQ is cheaper at 0.56% per year. On volatility, XOMO has been the lower-risk option at 6.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CNEQ or XOMO?

Over the 1-year period, XOMO has performed better with a 29.81% return vs 29.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CNEQ or XOMO?

CNEQ is cheaper with a 0.56% expense ratio, compared with 1.01% for XOMO.

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

XOMO has the higher dividend yield at 37.07%, compared with 0.46% for CNEQ.

What is the main difference between CNEQ and XOMO?

CNEQ is categorized as Large Cap Growth Equities, while XOMO is Derivative Income. They also come from different issuers: Alger and YieldMax. Their fees differ too: 0.56% for CNEQ and 1.01% for XOMO.

Which has better risk-adjusted returns?

XOMO currently has the higher Sharpe Ratio (1.45 vs 1.16), 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.