CNEQ vs GVIP
Comparison between ALGER CONCENTRATED EQUITY ETF (CNEQ, ETF) and GOLDMAN SACHS HEDGE INDUSTRY VIP ETF (GVIP, ETF).
CNEQ vs GVIP - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
CNEQ
$503M
Winner
GVIP
$505M
Expense Ratio
CNEQ
0.56%
Winner
GVIP
0.45%
Max Drawdown
Winner
CNEQ
27.58%
GVIP
37.10%
Sharpe Ratio
Winner
CNEQ
1.45
GVIP
1.35
5Y Beta
CNEQ
1.44
Winner
GVIP
1.19
P/E Ratio
Winner
CNEQ
42.98
GVIP
53.18
Forward P/E
CNEQ
30.22
Winner
GVIP
22.21
PEG Ratio
CNEQ
0.37
GVIP
N/A
5Y Dividends CAGR
CNEQ
N/A
GVIP
48.90%
5Y EPS CAGR
Winner
CNEQ
42.94%
GVIP
21.97%
P/S Ratio
CNEQ
3.99
Winner
GVIP
3.80
P/B Ratio
CNEQ
8.68
Winner
GVIP
6.28
CNEQ vs GVIP - Holdings Comparison
CNEQ and GVIP have 15 common holdings. Overlap is 27.96%
CNEQ's top 25 holdings weight is 96.02%. GVIP's top 25 holdings weight is 62.79%.
| Rank | CNEQ | GVIP |
|---|---|---|
| #1 | NVIDIA CORP (NVDA) - 14.21% | SANDISK CORP ORDINARY SHARES (SNDK) - 5.01% |
| #2 | MICROSOFT CORP (MSFT) - 7.08% | ADVANCED MICRO DEVICES INC (AMD) - 4.61% |
| #3 | AMAZON.COM INC (AMZN) - 6.53% | MICRON TECHNOLOGY INC (MU) - 4.17% |
| #4 | ALPHABET INC CLASS C (GOOG) - 6.31% | CORE SCIENTIFIC INC ORDINARY SHARES NEW (CORZ) - 2.85% |
| #5 | ANTHROPIC PBC (n/a) - 5.92% | LUMENTUM HOLDINGS INC (LITE) - 2.82% |
| #6 | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 5.46% | APPLOVIN CORP ORDINARY SHARES CLASS A (APP) - 2.54% |
| #7 | NEBIUS GROUP NV SHS CLASS-A- (NBIS) - 4.88% | VERTIV HOLDINGS CO CLASS A (VRT) - 2.47% |
| #8 | APPLE INC (AAPL) - 4.83% | AMAZON.COM INC (AMZN) - 2.45% |
| #9 | WESTERN DIGITAL CORP (WDC) - 4.82% | GE VERNOVA INC (GEV) - 2.43% |
| #10 | BROADCOM INC (AVGO) - 4.78% | ALPHABET INC CLASS A (GOOGL) - 2.40% |
| #11 | TESLA INC (TSLA) - 3.35% | BROADCOM INC (AVGO) - 2.36% |
| #12 | META PLATFORMS INC CLASS A (META) - 3.12% | APPLIED MATERIALS INC (AMAT) - 2.36% |
| #13 | QXO INC (QXO) - 2.87% | APPLE INC (AAPL) - 2.17% |
| #14 | APPLOVIN CORP ORDINARY SHARES CLASS A (APP) - 2.74% | NVIDIA CORP (NVDA) - 2.16% |
| #15 | GE VERNOVA INC (GEV) - 2.39% | ASML HOLDING NV ADR (ASML) - 2.14% |
| #16 | TALEN ENERGY CORP ORDINARY SHARES NEW (TLN) - 2.11% | NETFLIX INC (NFLX) - 2.12% |
| #17 | ASTERA LABS INC (ALAB) - 2.11% | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 2.11% |
| #18 | SEA LTD ADR (SE) - 1.89% | CITIGROUP INC (C) - 2.07% |
| #19 | HEICO CORP CLASS A (HEI-A) - 1.84% | ECHOSTAR CORP CLASS A (SATS) - 2.03% |
| #20 | GFL ENVIRONMENTAL INC (GFL) - 1.73% | TESLA INC (TSLA) - 1.96% |
| #21 | 2026 VDC LP (n/a) - 1.71% | MICROSOFT CORP (MSFT) - 1.95% |
| #22 | ELI LILLY AND CO (LLY) - 1.58% | UNION PACIFIC CORP (UNP) - 1.92% |
| #23 | DREYFUS TRSY OBLIG CASH MGMT CL INS (n/a) - 1.35% | ELI LILLY AND CO (LLY) - 1.91% |
| #24 | INTUITIVE SURGICAL INC (ISRG) - 1.28% | VISA INC CLASS A (V) - 1.90% |
| #25 | NATERA INC (NTRA) - 1.13% | NORFOLK SOUTHERN CORP (NSC) - 1.88% |
| Total Holdings | 31 | 49 |
CNEQ vs GVIP - Historical Returns
Returns include dividend reinvestment.
1M
Winner
CNEQ
+5.31%
GVIP
+0.93%
3M
Winner
CNEQ
+18.54%
GVIP
+13.28%
6M
CNEQ
+12.00%
Winner
GVIP
+12.21%
1Y
Winner
CNEQ
+41.20%
GVIP
+31.19%
5Y(CAGR)
CNEQ
N/A
GVIP
+12.00%
10Y(CAGR)
CNEQ
N/A
GVIP
+17.17%
Max(CAGR)
Winner
CNEQ
+36.30%
GVIP
+17.17%
CNEQ vs GVIP - Annual Returns (2016 - 2026)
Returns include dividend reinvestment.
| Year | CNEQ | GVIP |
|---|---|---|
| 2026 | +12.99% | +10.71% |
| 2025 | +32.33% | +24.18% |
| 2024 | +28.84% | +31.42% |
| 2023 | N/A | +40.11% |
| 2022 | N/A | -32.35% |
| 2021 | N/A | +13.57% |
| 2020 | N/A | +42.47% |
| 2019 | N/A | +29.65% |
| 2018 | N/A | -8.03% |
| 2017 | N/A | +24.67% |
| 2016 | N/A | +7.97% |
CNEQ vs GVIP Drawdown Comparison
The maximum drawdown for CNEQ was -27.58%, occurring on Apr 8, 2025. Recovery took 77 trading sessions.
The maximum drawdown for GVIP was -37.09%, occurring on Oct 14, 2022. Recovery took 573 trading sessions.
The current CNEQ drawdown is -5.97%. The current GVIP drawdown is -4.51%.
| Rank | CNEQ | GVIP |
|---|---|---|
| #1 | -27.58% Feb 14, 2025 - Jun 6, 2025 | -37.09% Nov 16, 2021 - Feb 29, 2024 |
| #2 | -19.31% Oct 29, 2025 - Apr 24, 2026 | -36.63% Feb 19, 2020 - Jul 20, 2020 |
| #3 | -15.11% Jul 10, 2024 - Sep 25, 2024 | -23.29% Feb 14, 2025 - Jun 26, 2025 |
| #4 | -7.66% Apr 11, 2024 - May 15, 2024 | -21.47% Sep 20, 2018 - Apr 10, 2019 |
| #5 | -7.47% Jan 23, 2025 - Feb 14, 2025 | -13.67% Feb 2, 2026 - Apr 14, 2026 |
| #6 | -5.97% Jun 2, 2026 - Jun 5, 2026 | -10.25% Jul 16, 2024 - Aug 19, 2024 |
| #7 | -5.20% Oct 9, 2025 - Oct 28, 2025 | -9.91% Apr 30, 2019 - Jul 26, 2019 |
| #8 | -4.68% Jan 6, 2025 - Jan 22, 2025 | -9.66% Jan 26, 2018 - Mar 12, 2018 |
| #9 | -4.56% Dec 16, 2024 - Jan 6, 2025 | -9.55% Jul 26, 2019 - Nov 18, 2019 |
| #10 | -4.25% Aug 12, 2025 - Sep 8, 2025 | -9.08% Mar 12, 2018 - Jun 18, 2018 |
| #11 | -3.79% May 14, 2026 - May 21, 2026 | -8.76% Sep 2, 2020 - Oct 13, 2020 |
| #12 | -3.42% Oct 29, 2024 - Nov 6, 2024 | -7.59% Oct 13, 2020 - Nov 5, 2020 |
| #13 | -3.14% Jun 18, 2024 - Jul 3, 2024 | -7.24% Oct 29, 2025 - Dec 10, 2025 |
| #14 | -2.88% Dec 6, 2024 - Dec 16, 2024 | -7.10% Feb 16, 2021 - Apr 9, 2021 |
| #15 | -2.79% Nov 8, 2024 - Nov 19, 2024 | -7.04% Apr 29, 2021 - Jun 23, 2021 |
Correlation
Correlation between CNEQ and GVIP is 0.99 which considered as a very strong positive correlation - the stocks move almost identically together.
0.99
-101
Dividend Comparison (2016 - 2025)
CNEQ vs GVIP dividend yield comparison.
| Year | CNEQ | GVIP |
|---|---|---|
| 2025 | 0.52% | 0.34% |
| 2024 | 0.16% | 0.29% |
| 2023 | 0.00% | 0.77% |
| 2022 | 0.00% | 0.02% |
| 2020 | 0.00% | 0.12% |
| 2019 | 0.00% | 0.77% |
| 2018 | 0.00% | 0.44% |
| 2017 | 0.00% | 0.45% |
| 2016 | 0.00% | 0.08% |
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