ALFAAlphaClone Alternative Alpha ETF
ALFA Fund Description
ALFA 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. While the fund equally weights holdings up to a cap of 5%, the result is a small basket of securities with potentially some major sector biases. Overall, ALFA provides some intensely concentrated exposure to a narrow set of companies. Prior to December 27, 2017 the underlying index was AlphaClone Hedge Fund Downside Hedged Index.
ALFA MSCI ESG Analytics Insight
AlphaClone Alternative Alpha ETF has an MSCI ESG Fund Rating of BBB based on a score of 5.95 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.
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. AlphaClone Alternative Alpha ETF ranks in the 39th percentile within its peer group and in the 24th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.
ALFA MSCI FaCS and Factor Box
MSCI FaCS is a standard method for evaluating and reporting the Factor characteristics of equity portfolios including ETFs. The Factor Box includes 6 Factors that MSCI has identified that historically provided a return premium. On the vertical axis, the Factor Groups, are displayed and the horizontal axis displays the Factor exposure, overweight, underweight or neutral.
ALFA Summary Data
ALFA Portfolio Data
ALFA Index Data
ALFA Portfolio Management
ALFA Tax Exposures
ALFA Fund Structure
ALFA Factset Analytics Block Liquidity
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 Sector/Industry Breakdown
ALFA Top 10 Holdings[View All]
ALFA Economic Development
ALFA Performance Statistics
ALFA MSCI ESG Ratings
ALFA Benchmark Comparison Summary
ALFA Benchmark Comparison Market Cap Size