Next Gen Connectivity vs the S&P 500 (KNCT): is it outperforming?
Over the past month, KNCT has underperformed the S&P 500 by 4.6 points. Here is where that puts it in the sector rotation — updated daily.
Where KNCT sits on the rotation map
Next Gen Connectivity highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
KNCT vs SPY: head-to-head returns
KNCT (next gen connectivity) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means KNCT won that window.
Data as of 2026-07-13 · computed from daily adjusted closes · how we measure
The read
Next Gen Connectivity (KNCT) is losing its lead. It built a 25.2-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 4.6 points behind the market — the weakening quadrant of the rotation map. Ranked by one-month spread, it currently stands #78 of the 115 groups Zensei tracks.
On the shorter tape, KNCT's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. KNCT's relative-strength line has dropped below its moving averages — the outperformance trend is fading. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Alger Mid Cap 40 ETF, whose 64 tracked holdings are led by APPLE INC, BROADCOM INC and MICRON TECHNOLOGY INC. Weighted by portfolio, the fund's holdings trade at roughly 76.3× earnings and 16.6× sales. The thing to watch from here is whether this is a pause or a handoff: weakening groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
What's inside KNCT
Top 5 of 64 tracked holdings, by portfolio weight.
Next Gen Connectivity vs the market — common questions
Is next gen connectivity outperforming the S&P 500?
Right now, no: over the past month KNCT has underperformed the S&P 500 by 4.6 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is KNCT?
KNCT is Alger Mid Cap 40 ETF, the fund Zensei uses to measure the next gen connectivity group against the S&P 500 benchmark (SPY).
Which stocks are in KNCT?
KNCT's largest tracked positions are APPLE INC, BROADCOM INC, MICRON TECHNOLOGY INC, CISCO SYSTEMS INC, INTEL CORP — 64 holdings in total. The full list, with each stock measured against the group, is part of Zensei Premium.
What quadrant is next gen connectivity in right now?
As of the latest daily data, next gen connectivity is in the weakening quadrant — still ahead over the longer window, but behind the market over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track next gen connectivity against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.