Alger Concentrated Equity ETF Outperforms Russell 1000 Growth in Q2 2026
A single quarter of index-beating returns in a concentrated portfolio warrants scrutiny of both stock selection and benchmark conditions before drawing conclusions about strategy durability.
The Alger Concentrated Equity ETF (ticker: CNEQ) outperformed the Russell 1000 Growth Index during the second quarter of 2026, according to the fund's Q2 2026 Commentary published by Alger and excerpted on Seeking Alpha. The fund's net asset value stood at $41.07 as of June 30, 2026, with a closing market price of $41.27 on that date, per the same fund snapshot.
CNEQ launched on April 4, 2024, giving it approximately two years and two months of operating history as of the report date, according to fund disclosure data cited in the Seeking Alpha commentary. The fund carries a gross expense ratio of 0.66 percent, per the same source. The net expense ratio figure was not fully specified in the available excerpt.
The Russell 1000 Growth Index, maintained by FTSE Russell, tracks the growth segment of the 1,000 largest US-listed companies by market capitalization and serves as a common benchmark for large-cap growth strategies. The margin by which CNEQ outperformed the index during Q2 2026 was not stated in the available excerpt. A full account of the performance gap would require the complete fund commentary or a Form N-CSR filing with the SEC.
Alger identifies the fund's strategy as concentrated equity, meaning it holds a smaller number of individual positions than a diversified fund. The specific number of holdings as of June 30, 2026 was not disclosed in the available excerpt. Investors evaluating the fund's risk profile relative to its benchmark would need the complete portfolio holdings disclosure, which funds are required to file with the SEC on Form N-PORT on a quarterly basis.
The fund is managed by Alger, a New York-based investment management firm. No changes to portfolio management personnel were noted in the available excerpt. The Q2 2026 commentary is the primary public source for the performance claims cited in this report.