ETF Evaluator:
Alger Concentrated Equity ETF ()
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(as of Aug 26)
Best Performing in Large Growth Over the Last Year
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ETF Details
Alger Concentrated Equity ETF Overview
Alger Concentrated Equity ETF (CNEQ) is an actively managed U.S. Equity Large Growth exchange-traded fund (ETF). Alger launched the ETF in 2024.
The investment seeks long-term capital appreciation.
Under normal circumstances, the fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large-cap companies that the Manager believes demonstrate promising growth potential. The fund manager intends to invest a substantial portion of its assets in a smaller number of issuers. The fund is non-diversified.
About Alger Concentrated Equity ETF (CNEQ)
There are 1 members of the management team with an average tenure of 2.32 years: Ankur Crawford (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and Russell 1000 Growth TR USD index with a weighting of 100%. Alger Concentrated Equity ETF has 32 securities in its portfolio. The top 10 holdings constitute 60.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Alger Concentrated Equity ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Alger Concentrated Equity ETF has 9.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 82.7% There is 9.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Alger Concentrated Equity ETF has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $968 million in total assets, which is below the $8 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
CNEQ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Alger Concentrated Equity ETF expense ratio is average compared to funds in the Large Growth category. Alger Concentrated Equity ETF has an expense ratio of 0.56%, which is 14% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Alger Concentrated Equity ETF has a portfolio turnover rate of 59%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 74% for the Large Growth category.
Recently, in the month of July 2026, Alger Concentrated Equity ETF returned -6.6%, which earned it a grade of D, as the Large Growth category had an average return of -3.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Alger Concentrated Equity ETF has a trailing yield of 0.47%, which is below the 0.53% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Alger Concentrated Equity ETF Grades
Year to date, the ETF has returned 11.7%, 5.5 percentage points better than the category, which translates into a grade of A. The fund has returned 22.6% over the past year (grade of A).
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CNEQ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| CNEQ Return (NAV) | -6.6% | 5.7% | 22.6% | na | na | na |
| CNEQ Return (Price) | -6.9% | 5.7% | 22.7% | na | na | na |
| NAV +/- Price Return | 0.234% | -0.035% | -0.079% | na | na | na |
| Large Growth Avg | -3.8% | 2.7% | 13.0% | 19.6% | 9.9% | 15.8% |
| CNEQ Grade (NAV) | D | A | A | na | na | na |
| +/- Category (NAV) | -2.9% | 3.0% | 9.6% | na | na | na |
| CNEQ Tax-Cost Ratio | na | na | 0.2% | na | na | na |
CNEQ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| CNEQ Return (NAV) | 11.7% | 33.4% | na | na | na | na | na | na | na | na | na |
| CNEQ Return (Price) | 11.8% | 33.6% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.010% | 0.005% | na | na | na | na | na | na | na | na | na |
| Large Growth Avg | 6.2% | 16.9% | 30.5% | 38.6% | -30.7% | 21.6% | 37.2% | 33.0% | -2.1% | 28.4% | 5.0% |
| CNEQ Grade (NAV) | A | A | na | na | na | na | na | na | na | na | na |
| +/- Category | 5.5% | 16.6% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.5% |
| Total Assets: | $ 968 Mil |
| Share Class Assets: | $ 968 Mil |
| Turnover: | 59.7% |
| Expense Ratio: | 0.56% |
| Index Fund: | No |
| Index Tracked: | S&P 500 (TR) (1970) |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 2.3 years | |||
| Average Tenure: 2.3 years | |||
| Managers (Year): Crawford Ankur (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 32 |
| % in Top 10 Holdings: | 60.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 9.9% |
Portfolio Allocation |
|
| Domestic Stock: | 82.7% |
| Foreign Stock: | 9.9% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 5.5% |
| Cash: | 1.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Alger |
| Phone Number: | 800-223-3810 |
| Website: | |
| Inception Date: | April 4, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.56% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.49% |
