EWX vs CNEQ

Comparison between STATE STREET(R) SPDR(R) S&P(R) EMERGING MARKETS SMALL CAP ETF (EWX, ETF) and ALGER CONCENTRATED EQUITY ETF (CNEQ, ETF).

EWX vs CNEQ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	EWX(ETF)	CNEQ(ETF)
Net Assets	$733M	$732M
Expense Ratio	0.65%	0.56%
Max Drawdown	63.90%	27.58%
Sharpe Ratio	0.53	1.05
5Y Beta	0.65	1.45
P/E Ratio	N/A	42.28
Forward P/E	N/A	25.13
PEG Ratio	N/A	0.28
5Y Dividends CAGR	9.05%	N/A
5Y EPS CAGR	N/A	43.23%
P/S Ratio	N/A	3.83
P/B Ratio	N/A	9.29

Net Assets

Winner

EWX

$733M

CNEQ

$732M

Expense Ratio

EWX

0.65%

Winner

CNEQ

0.56%

Max Drawdown

EWX

63.90%

Winner

CNEQ

27.58%

Sharpe Ratio

EWX

0.53

Winner

CNEQ

1.05

5Y Beta

Winner

EWX

0.65

CNEQ

1.45

P/E Ratio

EWX

N/A

CNEQ

42.28

Forward P/E

EWX

N/A

CNEQ

25.13

PEG Ratio

EWX

N/A

CNEQ

0.28

5Y Dividends CAGR

EWX

9.05%

CNEQ

N/A

5Y EPS CAGR

EWX

N/A

CNEQ

43.23%

P/S Ratio

EWX

N/A

CNEQ

3.83

P/B Ratio

EWX

N/A

CNEQ

9.29

EWX vs CNEQ - Holdings Comparison

EWX and CNEQ have 1 common holdings. Overlap is -0.13%

EWX's top 25 holdings weight is 6.38%. CNEQ's top 25 holdings weight is 94.55%.

Rank	EWX	CNEQ
#1	n/a (n/a) - 1.21%	NVIDIA CORP (NVDA) - 12.98%
#2	n/a (n/a) - 0.98%	MICROSOFT CORP (MSFT) - 6.12%
#3	GULF NAVIGATION HOLDING PJSC (n/a) - 0.23%	ALPHABET INC CLASS C (GOOG) - 5.94%
#4	PAN AFRICAN RESOURCES PLC (PAFRF) - 0.22%	TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD ADR (TSM) - 5.87%
#5	INARI AMERTRON BHD (n/a) - 0.20%	ANTHROPIC (n/a) - 5.25%
#6	REDEFINE PROPERTIES LTD (n/a) - 0.19%	APPLE INC (AAPL) - 4.86%
#7	ADVANCED ECHEM MATERIALS CO LTD (n/a) - 0.19%	WESTERN DIGITAL CORP (WDC) - 4.78%
#8	LINGBAO GOLD GROUP CO LTD CLASS H (n/a) - 0.19%	AMAZON.COM INC (AMZN) - 4.23%
#9	PRECISION TSUGAMI (CHINA) CORP LTD (n/a) - 0.18%	BROADCOM INC (AVGO) - 4.20%
#10	BRAVA ENERGIA SA ORDINARY SHARES (n/a) - 0.18%	NEBIUS GROUP NV SHS CLASS-A- (NBIS) - 4.11%
#11	ORBIA ADVANCE CORP SAB DE CV (n/a) - 0.18%	SPACE EXPLORATION TECHNOLOGIES CORP CLASS A (SPCX) - 3.41%
#12	PIXART IMAGING INC (n/a) - 0.18%	TESLA INC (TSLA) - 3.21%
#13	n/a (n/a) - 0.18%	TALEN ENERGY CORP ORDINARY SHARES NEW (TLN) - 3.14%
#14	PRIMAX ELECTRONICS LTD (n/a) - 0.18%	GE VERNOVA INC (GEV) - 3.04%
#15	NETCARE LTD (n/a) - 0.18%	META PLATFORMS INC CLASS A (META) - 3.03%
#16	MOKINGRAN JEWELLERY GROUP CO LTD (n/a) - 0.18%	APPLOVIN CORP ORDINARY SHARES CLASS A (APP) - 2.76%
#17	MOTUS HOLDINGS LTD ORDINARY SHARES (n/a) - 0.18%	QXO INC (QXO) - 2.75%
#18	CENTURY IRON AND STEEL INDUSTRIAL CO LTD (n/a) - 0.18%	SEA LTD ADR (SE) - 2.49%
#19	NATIONAL INDUSTRIES GROUP HOLDING SAK (n/a) - 0.17%	HEICO CORP CLASS A (HEI-A) - 2.09%
#20	BLACK SESAME INTERNATIONAL HOLDING LTD (n/a) - 0.17%	FIGURE AI (n/a) - 2.02%
#21	n/a (n/a) - 0.17%	ASTERA LABS INC (ALAB) - 1.78%
#22	QISDA CORP (n/a) - 0.17%	ELI LILLY AND CO (LLY) - 1.76%
#23	WINWAY TECHNOLOGY CO LTD ORDINARY SHARES (n/a) - 0.17%	MICRON TECHNOLOGY INC (MU) - 1.64%
#24	BIT DIGITAL INC ORDINARY SHARES (BTBT) - 0.16%	NATERA INC (NTRA) - 1.58%
#25	n/a (n/a) - 0.16%	NOVO NORDISK AS ADR (NVO) - 1.51%
Total Holdings	2744	31

EWX vs CNEQ - Historical Returns

Returns include dividend reinvestment.

Period	EWX	CNEQ
1 month	-9.42%	-3.66%
3 months	-4.13%	+9.93%
6 months	+2.99%	+16.00%
1 year	+11.25%	+30.66%
5 years(CAGR)	+5.58%	N/A
10 years(CAGR)	+8.38%	N/A
Max(CAGR)	+4.22%	+34.67%

EWX

-9.42%

Winner

CNEQ

-3.66%

EWX

-4.13%

Winner

CNEQ

+9.93%

EWX

+2.99%

Winner

CNEQ

+16.00%

EWX

+11.25%

Winner

CNEQ

+30.66%

5Y(CAGR)

EWX

+5.58%

CNEQ

N/A

10Y(CAGR)

EWX

+8.38%

CNEQ

N/A

Max(CAGR)

EWX

+4.22%

Winner

CNEQ

+34.67%

EWX vs CNEQ - Annual Returns (2008 - 2026)

Returns include dividend reinvestment.

Year	EWX	CNEQ
2026	+5.18%	+14.29%
2025	+16.17%	+32.33%
2024	+7.64%	+28.84%
2023	+17.12%	N/A
2022	-15.32%	N/A
2021	+16.66%	N/A
2020	+13.04%	N/A
2019	+14.58%	N/A
2018	-19.74%	N/A
2017	+32.53%	N/A
2016	+10.04%	N/A
2015	-11.76%	N/A
2014	+0.87%	N/A
2013	+0.15%	N/A
2012	+23.85%	N/A
2011	-30.79%	N/A
2010	+19.60%	N/A
2009	+92.49%	N/A
2008	-53.20%	N/A

EWX vs CNEQ Drawdown Comparison

The maximum drawdown for EWX was -63.90%, occurring on Nov 20, 2008. Recovery took 583 trading sessions.

The maximum drawdown for CNEQ was -27.58%, occurring on Apr 8, 2025. Recovery took 77 trading sessions.

The current EWX drawdown is -9.42%. The current CNEQ drawdown is -5.55%.

Rank	EWX	CNEQ
#1	-63.90% May 19, 2008 - Sep 13, 2010	-27.58% Feb 14, 2025 - Jun 6, 2025
#2	-42.99% Jan 26, 2018 - Dec 28, 2020	-19.31% Oct 29, 2025 - Apr 24, 2026
#3	-34.12% Jan 5, 2011 - Sep 5, 2014	-15.11% Jul 10, 2024 - Sep 25, 2024
#4	-31.87% Sep 5, 2014 - Jul 14, 2017	-8.57% Jun 2, 2026 - Jun 18, 2026
#5	-24.67% Jul 12, 2021 - Apr 9, 2024	-8.39% Jun 18, 2026 - Jul 17, 2026
#6	-21.36% Oct 7, 2024 - Jul 3, 2025	-7.66% Apr 11, 2024 - May 15, 2024
#7	-10.68% Jun 22, 2026 - Jul 20, 2026	-7.47% Jan 23, 2025 - Feb 14, 2025
#8	-9.20% Jul 12, 2024 - Sep 24, 2024	-5.20% Oct 9, 2025 - Oct 28, 2025
#9	-7.98% Feb 25, 2026 - Apr 13, 2026	-4.68% Jan 6, 2025 - Jan 22, 2025
#10	-6.48% Nov 4, 2010 - Jan 3, 2011	-4.56% Dec 16, 2024 - Jan 6, 2025
#11	-5.86% May 26, 2026 - Jun 18, 2026	-4.25% Aug 12, 2025 - Sep 8, 2025
#12	-5.85% Apr 28, 2021 - May 28, 2021	-3.79% May 14, 2026 - May 21, 2026
#13	-4.99% Sep 17, 2025 - Jan 9, 2026	-3.42% Oct 29, 2024 - Nov 6, 2024
#14	-4.85% Apr 9, 2024 - May 2, 2024	-3.14% Jun 18, 2024 - Jul 3, 2024
#15	-4.38% May 11, 2026 - May 26, 2026	-2.88% Dec 6, 2024 - Dec 16, 2024

Correlation

Correlation between EWX and CNEQ is 0.94 which considered as a very strong positive correlation - the stocks move almost identically together.

0.94

-101

Dividend Comparison (2008 - 2026)

EWX vs CNEQ dividend yield comparison.

Year	EWX	CNEQ
2026	0.83%	0.00%
2025	2.91%	0.52%
2024	2.90%	0.16%
2023	2.32%	0.00%
2022	3.00%	0.00%
2021	2.77%	0.00%
2020	2.24%	0.00%
2019	2.73%	0.00%
2018	3.26%	0.00%
2017	2.30%	0.00%
2016	2.46%	0.00%
2015	3.04%	0.00%
2014	2.74%	0.00%
2013	2.33%	0.00%
2012	2.27%	0.00%
2011	5.58%	0.00%
2010	3.03%	0.00%
2009	1.79%	0.00%
2008	0.85%	0.00%