CNEQ vs FELG
Alger Concentrated Equity ETF vs Fidelity Enhanced Large Cap Growth ETF
Which is better, CNEQ or FELG?
Nearly the same fund. FELG costs less.
FELG has a lower expense ratio. CNEQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CNEQ | FELG |
|---|---|---|
| Expense Ratio | 0.56% | 0.18%Best |
| AUM | $5.4B | $5.4B |
| Dividend Yield | 0.49% | 0.37% |
| Holdings | 59 | 267 |
| YTD Return | +5.93%Best | +0.06% |
| 1Y Return | +5.74%Best | -1.29% |
| 3Y Return (annualized) | - | +18.75% |
| Volatility (annualized) | 23.6% | 16.6%Best |
| Max Drawdown | -27.6% | -23.9%Best |
| $10,000 over 2.6 years | $18,320Best | $14,249 |
| Fund Family | Alger | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Apr 4, 2024 | Nov 20, 2023 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.6 years row, are measured over the window both funds cover: Apr 5, 2024 to Nov 12, 2026 (2.6 years).
CNEQ vs FELG growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.6 years both funds cover.
CNEQ vs FELG Performance
Alger Concentrated Equity ETF (CNEQ) is an ETF from Alger and Fidelity Enhanced Large Cap Growth ETF (FELG) is an ETF from Fidelity Investments (US). Over the past year CNEQ returned +5.74% while FELG returned -1.29%. Year to date, CNEQ is up 5.93% versus a gain of 0.06% for FELG.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CNEQ has been the more volatile fund, with annualized monthly volatility of 23.6% compared with 16.6% for FELG. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -27.6% for CNEQ and -23.9% for FELG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CNEQ charges 0.56% per year while FELG charges 0.18%. On a $10,000 position that is $56 vs $18 annually, a gap of $38 per year that compounds over a long holding period. On income, CNEQ currently yields 0.49% against 0.37% for FELG.
Holdings Overlap
At least 56.2% of FELG's money is in holdings CNEQ also owns.
Stated as a floor: for CNEQ, our book for it covers 93.3% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
17 positions in common, counted across the 25 positions we hold weights for in CNEQ and 129 in FELG, against full books of 59 and 267.
Top Shared Holdings
| Stock | Weight in CNEQ | Weight in FELG | Difference |
|---|---|---|---|
| NVDANvidia Corp | 14.95% | 15.59% | 0.64% |
| AAPLApple Inc | 5.44% | 8.65% | 3.21% |
| MSFTMicrosoft Corp | 8.69% | 5.37% | 3.32% |
| AVGOBroadcom Inc | 4.97% | 4.85% | 0.12% |
| GOOGAlphabet Inc. C | 6.39% | 3.10% | 3.29% |
| METAMeta Platforms Inc | 3.97% | 3.89% | 0.08% |
| MUMicron Technology, Inc. | 3.04% | 3.45% | 0.41% |
| TSLATesla Inc | 2.93% | 2.64% | 0.29% |
| LLYEli Lilly & Co | 1.73% | 3.59% | 1.86% |
| AMZNAmazon.Com Inc | 4.39% | 0.55% | 3.84% |
56.2% of FELG is already inside CNEQ.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, CNEQ or FELG?
CNEQ has an expense ratio of 0.56% while FELG charges 0.18%. FELG is the cheaper option, by $38 a year on a $10,000 investment.
Which performed better, CNEQ or FELG?
Over the past year CNEQ returned +5.74% vs -1.29% for FELG, so CNEQ leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CNEQ or FELG?
CNEQ has been the more volatile fund at 23.6% annualized versus 16.6% for FELG. Worst drawdown: CNEQ -27.6% vs FELG -23.9%.
Should I hold both CNEQ and FELG?
CNEQ and FELG have a monthly-return correlation of 0.96, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between CNEQ and FELG?
At least 56.2% of FELG's money is in holdings CNEQ also owns. Our book for CNEQ is partial, so the real figure is this or higher. They hold 17 positions in common, counted across the 25 positions we hold weights for in CNEQ and 129 in FELG.
Which pays a higher dividend, CNEQ or FELG?
CNEQ yields 0.49% while FELG yields 0.37%, so CNEQ currently pays the higher dividend yield.
Is FELG better than CNEQ?
FELG has a lower expense ratio. CNEQ led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.96. Which one suits a particular account depends on what it is for. This is information, not a recommendation.