QQQN vs. CNEQ ETF Comparison

Comparison of VictoryShares Nasdaq Next 50 ETF (QQQN) to Alger Concentrated Equity ETF (CNEQ)

QQQN

VictoryShares Nasdaq Next 50 ETF

QQQN Description

The investment seeks to provide investment results that track the performance of the Nasdaq Q-50 Index before fees and expenses. The fund seeks to achieve its investment objective by investing at least 80% of its assets in securities in the index. The index is composed of the 50 largest nonfinancial domestic and international companies listed on The Nasdaq Stock Market based on market capitalization after excluding the companies included in the Nasdaq-100 Index.

Grade (RS Rating)

Last Trade

$31.65

Average Daily Volume

6,312

Number of Holdings ^*

* may have additional holdings in another (foreign) market

CNEQ

Alger Concentrated Equity ETF

CNEQ Description

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.

Grade (RS Rating)

Last Trade

$25.51

Average Daily Volume

3,734

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	QQQN	CNEQ
30 Days	3.53%	6.39%
60 Days	4.80%	11.26%
90 Days	10.05%	15.00%
12 Months	35.21%

2 Overlapping Holdings

	Symbol	Grade	Weight in QQQN	Weight in CNEQ	Overlap
	APP	B	4.61%	3.29%	3.29%
	NTRA	B	1.43%	1.52%	1.43%

QQQN Overweight 47 Positions Relative to CNEQ

Symbol	Grade	Weight
ALNY	D	3.68%
MSTR	C	3.64%
MPWR	F	3.59%
AXON	A	3.25%
TSCO	D	3.07%
EBAY	D	3.03%
NTAP	C	2.37%
UAL	A	2.36%
CHKP	D	2.26%
ICLR	D	2.26%
WDC	D	2.23%
TCOM	B	2.22%
PTC	A	2.16%
STX	D	2.12%
FSLR	F	2.01%
TER	D	1.98%
STLD	B	1.94%
EXPE	B	1.92%
ZM	B	1.86%
ZBRA	B	1.86%
HOLX	D	1.84%
SSNC	B	1.81%
ARGX	A	1.77%
VRSN	F	1.77%
JBHT	C	1.74%
DKNG	B	1.73%
ULTA	F	1.68%
GEN	B	1.61%
MANH	D	1.61%
LNT	A	1.55%
ENTG	D	1.52%
AKAM	D	1.52%
UTHR	C	1.52%
ALGN	D	1.51%
SNY	F	1.51%
SWKS	F	1.48%
NTNX	A	1.45%
NDSN	B	1.39%
BSY	D	1.39%
CPB	D	1.37%
BMRN	D	1.3%
BNTX	D	1.06%
ENPH	F	1.04%
NWSA	B	0.95%
FOXA	B	0.92%
FOX	A	0.88%
NWS	B	0.51%

QQQN Underweight 23 Positions Relative to CNEQ

Symbol	Grade	Weight
MSFT	F	-13.34%
NVDA	C	-13.04%
AAPL	C	-8.58%
AMZN	C	-8.1%
META	D	-6.47%
HEI	B	-3.71%
TSM	B	-3.59%
AVGO	D	-3.17%
DHR	F	-2.35%
LLY	F	-2.28%
ISRG	A	-2.19%
VRT	B	-2.15%
V	A	-2.15%
SPGI	C	-2.14%
NFLX	A	-2.0%
GOOG	C	-1.98%
CDNS	B	-1.9%
CEG	D	-1.76%
MU	D	-1.27%
MELI	D	-1.16%
TSLA	B	-1.1%
UNH	C	-0.99%
ASML	F	-0.93%