CNEQ vs QQQ
CNEQ vs QQQ
Alger Concentrated Equity ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 103 holdings.
Side-by-Side Comparison
| Metric | CNEQ | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.56% | 0.18% | |
| AUM | $898M | $455.8B | |
| Dividend Yield | 0.44% | 0.41% | |
| Holdings | 30 | 108 | |
| YTD Return | +13.94% | +16.83% | |
| 1Y Return | +26.01% | +26.58% | |
| 3Y Return (annualized) | - | +24.70% | |
| 5Y Return (annualized) | - | +14.88% | |
| Volatility (annualized) | 23.6% | 30.6% | |
| Max Drawdown | -27.6% | -83.0% | |
| Fund Family | Alger | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Apr 4, 2024 | Mar 10, 1999 |
CNEQ vs QQQ Performance
Alger Concentrated Equity ETF (CNEQ) is a ETF from Alger and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year CNEQ returned +26.01% while QQQ returned +26.58%. Year to date, CNEQ is up 13.94% versus a gain of 16.83% for QQQ.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 23.6% for CNEQ. 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 -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.95. 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 QQQ 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 0.44% against 0.41% for QQQ.
Holdings Overlap
CNEQ and QQQ share 14 holdings out of 118 unique holdings combined, representing a 39.6% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in CNEQ | Weight in QQQ | Difference |
|---|---|---|---|
| NVDA | 14.66% | 7.88% | 6.78% |
| AAPL | 5.62% | 7.46% | 1.84% |
| MSFT | 6.55% | 4.65% | 1.90% |
| GOOG | Pro | Pro | Pro |
| AMZN | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| MU | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| WDC | Pro | Pro | Pro |
See all 10 holdings CNEQ shares with QQQ Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, CNEQ or QQQ?
CNEQ has an expense ratio of 0.56% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $38 per year of difference.
Which performed better, CNEQ or QQQ?
Over the past year CNEQ returned +26.01% vs +26.58% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (2 years), CNEQ annualized +33.75% vs +13.06% for QQQ. Past performance does not guarantee future results.
Which is riskier, CNEQ or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 23.6% for CNEQ. Worst drawdown: CNEQ -27.6% vs QQQ -83.0%.
Should I hold both CNEQ and QQQ?
CNEQ and QQQ have a monthly-return correlation of 0.95, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between CNEQ and QQQ?
CNEQ and QQQ share 14 common holdings with a 39.6% weight overlap. Combined, they hold 118 unique securities.
Which pays a higher dividend, CNEQ or QQQ?
CNEQ yields 0.44% while QQQ yields 0.41%, so CNEQ currently pays the higher dividend yield.
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