MPLX vs. CNEQ
MPLX (MPLX LP) is a stock, while CNEQ (Alger Concentrated Equity ETF) is Large Cap Growth Equities fund actively managed by Alger. Over the past year, MPLX returned 18.58% vs 40.95% for CNEQ. At a 0.17 correlation, their price movements are largely independent.
Performance
MPLX vs. CNEQ - Performance Comparison
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Returns By Period
In the year-to-date period, MPLX achieves a 10.77% return, which is significantly lower than CNEQ's 13.44% return.
MPLX
- 1D
- 0.67%
- 1M
- 2.34%
- YTD
- 10.77%
- 6M
- 7.78%
- 1Y
- 18.58%
- 3Y*
- 29.42%
- 5Y*
- 23.64%
- 10Y*
- 15.85%
CNEQ
- 1D
- 0.41%
- 1M
- -2.01%
- YTD
- 13.44%
- 6M
- 14.69%
- 1Y
- 40.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MPLX vs. CNEQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MPLX MPLX LP | 10.77% | 20.54% | 20.19% |
CNEQ Alger Concentrated Equity ETF | 13.44% | 33.61% | 29.82% |
Correlation
The correlation between MPLX and CNEQ is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2024 | 0.17 |
The correlation between MPLX and CNEQ shifts across timeframes, from -0.01 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MPLX vs. CNEQ — Risk / Return Rank
MPLX
CNEQ
MPLX vs. CNEQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MPLX LP (MPLX) and Alger Concentrated Equity ETF (CNEQ). 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.
| MPLX | CNEQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.49 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.42 | 2.04 | +0.39 |
| Martin ratioReturn relative to average drawdown | 5.66 | 6.33 | -0.68 |
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Drawdowns
MPLX vs. CNEQ - Drawdown Comparison
The maximum MPLX drawdown since its inception was -85.72%, which is greater than CNEQ's maximum drawdown of -27.58%. Use the drawdown chart below to compare losses from any high point for MPLX and CNEQ.
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Drawdown Indicators
| MPLX | CNEQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.72% | -27.58% | -58.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.71% | -19.30% | +11.59% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.46% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.21% | — | — |
Current DrawdownCurrent decline from peak | -2.01% | -6.11% | +4.10% |
Average DrawdownAverage peak-to-trough decline | -29.94% | -4.89% | -25.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.30% | 6.20% | -2.90% |
Volatility
MPLX vs. CNEQ - Volatility Comparison
The current volatility for MPLX LP (MPLX) is 4.40%, while Alger Concentrated Equity ETF (CNEQ) has a volatility of 8.66%. This indicates that MPLX experiences smaller price fluctuations and is considered to be less risky than CNEQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPLX | CNEQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.40% | 8.66% | -4.26% |
Volatility (6M)Calculated over the trailing 6-month period | 11.38% | 18.32% | -6.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.54% | 23.32% | -7.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.38% | 26.77% | -7.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.62% | 26.77% | +3.85% |
Dividends
MPLX vs. CNEQ - Dividend Comparison
MPLX's dividend yield for the trailing twelve months is around 7.36%, more than CNEQ's 0.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CNEQ Alger Concentrated Equity ETF | 0.46% | 0.52% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MPLX MPLX LP | 7.36% | 7.39% | 7.33% | 8.65% | 8.80% | 11.30% | 12.70% | 10.41% | 8.22% | 6.23% | 5.86% | 4.33% |
Frequently Asked Questions
MPLX and CNEQ have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CNEQ has higher volatility (8.66%) compared to MPLX (4.40%). In terms of maximum drawdown, MPLX dropped -85.72% vs CNEQ's -27.58%.
CNEQ currently has the higher Sharpe Ratio (1.69 vs 1.20), 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.
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