CNEQ vs SPY
Alger Concentrated Equity ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, CNEQ or SPY?
Large Cap Growth against Large Cap Blend.
SPY has a lower expense ratio. CNEQ led over the full window, SPY over 1Y.
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 | SPY |
|---|---|---|
| Expense Ratio | 0.56% | 0.09%Best |
| AUM | $3.1B | $811.2B |
| Dividend Yield | 0.46% | 0.98% |
| Holdings | 32 | 1,515 |
| YTD Return | +17.30%Best | +14.77% |
| 1Y Return | +14.91% | +18.61%Best |
| 3Y Return (annualized) | - | +22.83% |
| 5Y Return (annualized) | - | +13.84% |
| Volatility (annualized) | 22.8% | 11.6%Best |
| Max Drawdown | -27.6% | -18.8%Best |
| $10,000 over 2.5 years | $20,182Best | $15,393 |
| Fund Family | Alger | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Apr 4, 2024 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 2.5 years row, are measured over the window both funds cover: Apr 5, 2024 to Oct 13, 2026 (2.5 years).
CNEQ vs SPY 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 2.5 years both funds cover.
CNEQ vs SPY Performance
Alger Concentrated Equity ETF (CNEQ) is an ETF from Alger and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year CNEQ returned +14.91% while SPY returned +18.61%. Year to date, CNEQ is up 17.30% versus a gain of 14.77% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
CNEQ has been the more volatile fund, with annualized monthly volatility of 22.8% compared with 11.6% for SPY. 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 -18.8% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.87. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CNEQ charges 0.56% per year while SPY charges 0.09%. On a $10,000 position that is $56 vs $9 annually, a gap of $47 per year that compounds over a long holding period. On income, CNEQ currently yields 0.46% against 0.98% for SPY.
Holdings Overlap
At least 1.2% of SPY's money is in holdings CNEQ also owns.
Stated as a floor: for CNEQ, our book for it covers 1.8% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and CNEQ share little of their money.
1 positions in common, counted across the 1 positions we hold weights for in CNEQ and 504 in SPY, against full books of 32 and 1,515.
Top Shared Holdings
| Stock | Weight in CNEQ | Weight in SPY | Difference |
|---|---|---|---|
| AMDAdvanced Micro Devices Inc | 1.79% | 1.22% | 0.57% |
You are not choosing between two funds in isolation.
Whichever of CNEQ and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CNEQ or SPY?
CNEQ has an expense ratio of 0.56% while SPY charges 0.09%. SPY is the cheaper option, by $47 a year on a $10,000 investment.
Which performed better, CNEQ or SPY?
Over the past year CNEQ returned +14.91% vs +18.61% for SPY, so SPY leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CNEQ or SPY?
CNEQ has been the more volatile fund at 22.8% annualized versus 11.6% for SPY. Worst drawdown: CNEQ -27.6% vs SPY -18.8%.
Should I hold both CNEQ and SPY?
CNEQ and SPY have a monthly-return correlation of 0.87, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CNEQ and SPY?
At least 1.2% of SPY's money is in holdings CNEQ also owns. Our book for CNEQ is partial, so the real figure is this or higher. They hold 1 positions in common, counted across the 1 positions we hold weights for in CNEQ and 504 in SPY.
Which pays a higher dividend, CNEQ or SPY?
CNEQ yields 0.46% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than CNEQ?
SPY has a lower expense ratio. CNEQ led over the full window, SPY over 1Y. Which one suits a particular account depends on what it is for. This is information, not a recommendation.