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Launched

Alger Concentrated Equity ETF

CNEQNYSE ArcaAlgerC

$36.51−0.63 (−1.70%)

At close: Nov 2, 2026, 4:00 PM ET

C45/ 100

Rank 54 of 90 in US Active Growth

C45/100Rank 54 of 90inUS Active Growth
Intraday session: down, 79 prints from 37.14 to 36.51. Range 36.47 to 37.59. Use the arrow keys to read each point.36.7537.0037.5010 AM12 PM2 PM4 PM
Expense ratio
0.56%*
Fund size
$7.53B
1Y total return
+3.2%
Yield · Last 12 months
0.48%
Holdings
31
Avg volume · 30D
202K sh
52W range
low $29.47high $42.15
Launched

*After a fee waiver that ends Dec 31, 2027. Without it: 0.66%.

The ETF.net CNEQ Grade

C

Score 45 out of 100

Category
US Active Growth⁠
Rank
54 of 90
Six-pillar profile for CNEQ. Scores out of 100: Cost 47, Risk 28, Mission 35, Tradability 61, Holdings 28, Durability 81. Strongest: Durability (81). Weakest: Holdings (28). Leans toward Durability.

Score 45 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C47 out of 100
    Rank 43 of 90

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    D35 out of 100
    Rank 25 of 27

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D28 out of 100
    Rank 75 of 85

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B61 out of 100
    Rank 28 of 90

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D28 out of 100
    Rank 86 of 90

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A81 out of 100
    Rank 13 of 90

Our read on CNEQ

ETF.net Research

In short

CMost active US equity funds spread their bets across hundreds of names. Alger caps this one at 30, picked by fundamental research, and accepts non-diversified status to do it. Conviction investing, with the swings that come with it.

Stated mandate

The fund seeks long-term capital appreciation through a focused portfolio of no more than 30 companies selected using fundamental research.

Why people hold it

  • The 30-name ceiling is written into the mandate, not a style preference. You get the analysts' highest-conviction picks from fundamental research rather than a benchmark with a few tilts bolted on.
  • Costs 0.56% net of a waiver through December 31, 2027 (0.66% gross), which sits near the category median instead of the premium end you might expect from a hand-picked 30-stock book.
  • Despite a 2024 launch, it already runs multi-billion-dollar assets and trades with reasonable regularity, so buyers aren't wrestling a thin, fragile ticker.

Worth knowing

  • Concentration cuts both ways. With fewer than 30 positions and non-diversified status, one stumbling name lands far harder here than in a broad index fund, and results can stray from the benchmark.yahoo.com
  • Cheaper options share the shelf: JUSA and FELG each charge 0.18%, no waiver involved, though both run far broader, more index-aware portfolios.
  • Launched in 2024, so the record is short. There's no full market cycle yet to show how a 30-stock growth book behaves when leadership rotates away from it.

CNEQ Performance

Launched Apr 4, 2024

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
CNEQ$10,323
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. CNEQ $10,323. SPY $11,199. Use the arrow keys to read each point.$8,000$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CNEQ. Periods over one year show the average yearly return.
PeriodCNEQ
Year to date+8.0%
1 month−8.6%
3 months−3.4%
1 year+3.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CNEQ
YearReturn barCNEQ
2026 YTD+8.0%
2025+33.6%
2024+28.8%

History from Apr 5, 2024

CNEQ in the news

CNEQ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
0.48%Last 12 months
Payout per share
$0.18Last 12 months
Last payment
$0.18 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 18, 2024 $0.04; Dec 18, 2025 $0.18. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 18, 2025Dec 31, 2025$0.18
Dec 18, 2024Dec 31, 2024$0.04

$10,000 in CNEQ 1 year ago paid $49.76 in dividends.

CNEQ Risk

Risk pillarD28 out of 100Rank 75 of 85 in US Active Growth
How much the fund’s monthly returns vary, scaled to a year.
23.9%
Annualised · 30 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.08
vs 3-month T-bills · 30 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−27.6%
30 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.71
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

CNEQ Cost

Compare CNEQ and FELG

Overpaying vs FELG, tied cheapest in US Active Growth

$7,339

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • CNEQ 0.56%

    $11,088

  • FELG 0.18% Tied cheapest

    $3,749

$10,000
30 years

Cost over time

  • CNEQ 0.56%
  • FELG 0.18%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2.5K$5K$7.5K$10K$12.5K051015202530CNEQ $11,088FELG $3,749

Year by year

YearCNEQFELGOverpaying
10$1,006$328$678
20$3,855$1,281$2,574
30$11,088$3,749$7,339
How the 0.56% is worked out

Full fee 0.66%− waiver 0.10%= you pay 0.56%

The waiver ends Dec 31, 2027. After that the fee is 0.66% unless Alger renews it. Source: prospectus, Apr 2026.

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