ALFA

AlphaClone Alternative Alpha ETF
D

68
  • 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 to determine long exposure.

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. 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. ALFAs expense ratio is competitive considering the unique index it tracks. On the other hand, the fund has had some capital gains distributions, so overall holding costs may be steeper than advertised.

Prior to December 27, 2017 the underlying index was AlphaClone Hedge Fund Downside Hedged Index.

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 May 20, 2018 the AlphaClone Alternative Alpha ETF MSCI ESG Fund Quality Score is 4.23 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 60th percentile within its peer group and in the 13th 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
0.65%
$23.43M
$156.54K
0.23%

ALFA Portfolio Data

$98.75B
38.45
2.95
0.00%
N/A
83

ALFA Index Data

AlphaClone Hedge Fund Masters Index
Tiered
Proprietary
MSCI USA Investable Markets_net

Related ETFs to ALFA

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

ALFA Portfolio Management

0.65%
-0.89%
0.01%
-1.81%

ALFA Tax Exposures

20.00% / 39.60%
--
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
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

ALFA Factset Analytics Block Liquidity

As of 05/21/18
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

3,348
$156.54K
1,947
$91.48K
0.23%
$0.10
-0.09%
1.87% / -1.55%
None
99.00%
50,000
0.04
0.01%
0.31%
172
$46.67
4

ALFA Sector/Industry BreakdownView All

ALFASegment Benchmark
12.92% 26.18%
23.50% 26.03%
18.42% 15.50%
12.86% 12.61%
11.04% 11.15%
2.84% 6.32%
5.46% 2.21%

ALFA Geographic Exposure

ALFASegment Benchmark
99.93% 86.99%
-- 6.52%
-- 2.31%
-- 2.22%
0.07% 1.96%

ALFASegment Benchmark
100.00% 88.95%
-- 6.52%
-- 4.53%
100.00% / 0.00% 93.48% / 6.52%

ALFA Performance Statistics

0.83
1.05
0.94
1.03
0.31%
MSCI USA Investable Markets_net

ALFA MSCI ESG Ratings

4.23 / 10
59.88
12.66
2.21%
3.01%
116.99

ALFA BENCHMARK COMPARISON

    ALFA
    83 Holdings
    Segment Benchmark
    2382 Constituents
    Shared Holdings
    35 (Count)
     
    12.80% (Weight)
ALFASegment Benchmark
159.61 B 98.75 B
79.72% 36.15%
15.25% 33.86%
4.65% 23.76%
0.37% 6.24%
1.86% 0.62%