ALFA

AlphaClone Alternative Alpha ETF
D

71
  • Overview
  • Efficiency
  • Tradability
  • Fit

ALFA Fund Description

The AlphaClone Alternative Alpha ETF tracks an index that aims to deliver outperformance by mimicking hedge funds' positions in US equities. The index relies on lagged published holdings and can be long and short.

ALFA Factset Analytics Insight

ALFA relies on publicly disclosed stock picks from hedge fund managers to select its stocks. It looks at the historical returns of various funds or institutional investors and draws its selection universe from the equities held by those funds that ALFA's proprietary methodology deems the best performing. The challenge with this approach is that fast-money hedge funds can change their positions on a dime, while ALFA looks at lagged, quarterly snapshots. The fund counters this problem with screens for sticky assets. It also has a defensive hedge that toggles on during down markets. With a small basket of securities and some major sector biases, ALFA provides some intensely concentrated exposure to a narrow set of companies. While underlying liquidity is strong thanks to the kind of names that make up ALFA's basket, retail investors face some sizeable spreads that make limit orders advisable. ALFA is also a very expensive fund, though it must be said that it does track its unique index rather well. On the other hand, the fund has had some capital gains distributions, so overall holding costs may be steeper than advertised.

ALFA MSCI ESG Analytics Insight

The MSCI ESG Fund Quality Score measures the ability of ETF underlying holdings to manage key medium to long-term risks and opportunities arising from environmental, social, and governance factors, as determined by MSCI ESG Research LLC. As of November 19, 2017 the AlphaClone Alternative Alpha ETF MSCI ESG Fund Quality Score is 4.27 out of 10.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. ALFA ranks in the 9th percentile within its peer group and in the 14th percentile within the global universe of all funds in MSCI ESG Fund Metrics coverage.

  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
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ALFA Top 10 Countries

ALFA Top 10 Sectors

ALFA Top 10 Holdings View All

ALFA Summary Data

AlphaClone
05/31/12
Open-Ended Fund
0.98%
$25.17M
$74.25K
0.23%

ALFA Portfolio Data

$119.77B
47.39
2.94
0.00%
N/A
83

ALFA Index Data

AlphaClone Hedge Fund Downside Hedged Index
Tiered
Proprietary
MSCI USA Investable Markets_net

Related ETFs to ALFA

KNOW, NFO, GURU, GVIP, IBLN
Total Return
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max

ALFA Portfolio Management

0.98%
-0.85%
-0.54%
-1.27%

ALFA Tax Exposures

20% / 39.6%
--
Qualified dividends
No

ALFA Fund Structure

Open-Ended Fund
No
Yes
No Policy
N/A
N/A
High
Daily
Bats Book Viewer
TOP OF BOOK
SHARES/SIZEPRICE
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BIDS----
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LAST 10 TRADES
TIMEPRICESHARES
15:26:4342.13100
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Bats BZX Real-time Quote - 17:25:28
Daily Spread
Premium/Discount
Volume

ALFA Factset Analytics Block Liquidity

As of 11/20/17
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of ALFA. ALFA is rated a 4 out of 5.

ALFA Tradability

1,744
$74.25K
1,010
$43.35K
0.23%
$0.1
-0.08%
0.64% / -1.41%
None
100%
50,000
0.02
0.01%
0.22%
2
$41.95
4

ALFA Sector/Industry BreakdownView All

ALFASegment Benchmark
21.74% 26.94%
12.80% 17.97%
13.82% 14.41%
18.40% 12.52%
10.96% 11.75%
5.67% 5.24%
2.89% 4.31%
3.11% 1.89%

ALFA Geographic Exposure

ALFASegment Benchmark
99.79% 93.08%
-- 6.88%
0.09% 1.06%
0.04% --
0.05% --
0.01% --
0.00% --
0.01% --
0.00% --

ALFASegment Benchmark
99.88% 94.14%
-- 6.88%
0.04% --
0.07% --
99.96% / 0.04% 94.14% / 6.88%

ALFA Performance Statistics

0.82
1.09
1.02
1.09
0.26%
MSCI USA Investable Markets_net

ALFA MSCI ESG Ratings

4.27 / 10
8.62
13.57
10.08%
4.84%
118.71

ALFA BENCHMARK COMPARISON

    ALFA
    83 Holdings
    Segment Benchmark
    2422 Constituents
    Shared Holdings
    68 (Count)
     
    16.51% (Weight)
ALFASegment Benchmark
144.93 B 119.77 B
79.14% 56.84%
15.84% 28.19%
4.64% 10.49%
0.38% 4.49%
1.81% 0.90%
Low Low