Key stats
About Alger Concentrated Equity ETF
Home page
Inception date
Apr 5, 2024
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Fred Alger Management LLC
Distributor
Fred Alger & Co., Inc.
ISIN
US0155644042
CNEQ is actively managed, investing in large-cap companies on U.S. exchanges that have a promising growth potential. At least 25% of the total assets go into related industries like software and technology hardware, semiconductors, IT services, electronic devices, retail and communication industries. The fund may invest more than 25% of total assets get invested in a single industry. A significant portion may be dedicated to enterprises within a sector, like Information Technology and Communication Services. The portfolio generally comprises no more than 30 holdings, often selling when a stock reaches its target price. The Fund also invests in cash and cash equivalents during market volatility or in the absence of viable long-term investment options. This cash holding is not expected to exceed 15% of net assets.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Technology Services
Electronic Technology
Retail Trade
Stocks99.14%
Technology Services34.29%
Electronic Technology32.10%
Retail Trade12.60%
Utilities6.54%
Consumer Durables3.79%
Industrial Services3.28%
Finance3.25%
Health Technology1.62%
Health Services1.01%
Distribution Services0.67%
Bonds, Cash & Other0.86%
Cash0.86%
Stock breakdown by region
North America87.98%
Asia7.10%
Europe4.09%
Latin America0.83%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
CNEQ invests in stocks. The fund's major sectors are Technology Services, with 34.29% stocks, and Electronic Technology, with 32.10% of the basket. The assets are mostly located in the North America region.
CNEQ top holdings are NVIDIA Corporation and Microsoft Corporation, occupying 15.58% and 11.02% of the portfolio correspondingly.
CNEQ assets under management is 144.55 M USD. It's risen 30.21% over the last month.
CNEQ fund flows account for 108.77 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, CNEQ pays dividends to its holders with the dividend yield of 0.00%. The last dividend (Dec 31, 2024) amounted to 0.04 USD. The dividends are paid annually.
CNEQ shares are issued by Alger Associates, Inc. (United States) under the brand Alger. The ETF was launched on Apr 5, 2024, and its management style is Active.
CNEQ expense ratio is 0.55% meaning you'd have to pay 0.55% of your investment to help manage the fund.
CNEQ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
CNEQ invests in stocks.
CNEQ price has risen by 8.88% over the last month, and its yearly performance shows a 51.07% increase. See more dynamics on CNEQ price chart.
NAV returns, another gauge of an ETF dynamics, have risen by 9.03% over the last month, showed a 21.08% increase in three-month performance and has increased by 34.33% in a year.
NAV returns, another gauge of an ETF dynamics, have risen by 9.03% over the last month, showed a 21.08% increase in three-month performance and has increased by 34.33% in a year.
CNEQ trades at a premium (0.18%) meaning the ETF is trading at a higher price than the calculated NAV.