AlphaClone Alternative Alpha ETF
ALTAR
Score™
-0.5% info Recommen-
dation
AVOID
2020E    2021E
P/E
ratio
154.8x P/Sales
ratio
4.5x
P/BV
ratio
11.9x Div.
yield
0.1%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The AlphaClone Alternative Alpha ETF seeks to track the price and yield, before fees and expenses, of the AlphaClone Hedge Fund Masters Index.

FUND BASICS
Category US Equities
Fund Sponsor Exchange Traded Concepts LLC
Website www.alphaclonefunds.com
Inception date May 31, 2012
Assets (mns) $27
Currency USD
Expense ratio 65 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-End Investment Company
Custodian U.S. Bank National Association
Weighting Tiered
Index replication Full
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 43
Wgt avg mkt cap (mns) $208,817
Large cap (>$10bn) 64.5%
Mid cap ($2-10bn) 32.6%
Small cap (<$2bn) 2.9%
Developed mkts 94.9%
Emerging mkts 5.1%

TOP TEN HOLDINGS
FATE THERAPEUTICS INC 3.6 %
ACADIA PHARMACEUTICALS INC 3.1 %
BLUEPRINT MEDICINES CORP. 3.1 %
LATTICE SEMICONDUCTOR CORP 3.1 %
PAYCOM SOFTWARE INC 3.0 %
DICERNA PHARMACEUTICALS INC 2.9 %
ZEBRA TECHNOLOGIES CORP-CL A 2.9 %
HUBSPOT INC 2.9 %
ETSY, INC. 2.8 %
TESLA MOTORS INC 2.8 %
Total 30.2 %

TOP COUNTRY EXPOSURE
UNITED STATES 85.9 %
CHINA 4.6 %
ARGENTINA 2.7 %
CANADA 2.1 %
BERMUDA 2.1 %






HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru October 31)
Year-to-date 1 year 5 years 10 years Since Incep.
9.3% 14.7% 11.1% -- 12.1%

Market Correlations
versus... Beta R-squared
S&P500 1.19 91%
MSCI EAFE 1.20 77%
MSCI Emg. Mkts. 0.88 63%

Technical Indicators
Recent close $72.58
30d moving avg. $68.34
Annualized volatility 22.2%
Short interest (ETF) 0.0%
Relative strength (RSI) 56

Liquidity measures
Avg. volume (thou.) 1
Turnover 0.3%
Bid/Ask (% of price) 0.24%
ADV underlying (mns) $75,830

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 99 potential alternatives to the AlphaClone Alternative Alpha ETF ETF based on the alternatives' overlap in portfolio holdings with ALFA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: ALFA Expense: 65 bp ALTAR Score™: -0.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH ALFA
Ticker Fund
Name
Overlap1
vs ALFA
(%)
Expense
ratio
(bp)
Savings
vs ALFA
(bp)
ALTAR
Score™
(%)
ALTAR
vs ALFA
(%)
GVIP Goldman Sachs Hedge Industry VIP ETF 25.5 45 20 3.4 +3.9
OGIG O'Shares Global Internet Giants ETF 23.8 48 17 0.7 +1.1
SKYY First Trust Cloud Computing ETF 23.6 60 5 2.0 +2.4
AMOM Qraft AI-Enhanced U.S. Large Cap Momentum ETF 23.0 75 -10 2.3 +2.8
BUYZ Franklin Disruptive Commerce ETF 22.6 50 15 -0.2 +0.3
WFH Direxion Work From Home ETF 21.7 45 20 5.1 +5.6
XNTK SPDR NYSE Technology ETF 21.6 35 30 3.2 +3.6
TECB iShares US Tech Breakthrough Multisector ETF 21.3 40 25 3.8 +4.3
FDMO Fidelity Momentum Factor ETF 21.2 29 36 3.1 +3.6
GIGE SoFi Gig Economy ETF 20.5 59 6 -0.6 -0.1
QYLD Global X NASDAQ 100 Covered Call ETF 20.1 60 5 3.3 +3.8
SCHG Schwab U.S. Large-Cap Growth ETF 20.1 4 61 3.3 +3.8
QYLG Global X Nasdaq 100 Covered Call & Growth ETF 20.0 60 5 3.3 +3.8
NUSI Nationwide Risk-Managed Income ETF 20.0 68 -3 3.5 +4.0
QQQM Invesco NASDAQ 100 ETF 19.9 15 50 3.7 +4.2
QQQ Invesco QQQ Trust 19.9 20 45 3.7 +4.1
ENTR Entrepreneur 30 Fund 19.6 49 16 1.0 +1.4
AIQ Global X Future Analytics Tech ETF 19.5 68 -3 3.7 +4.2
ARKW ARK Web x.0 ETF 19.3 76 -11 -0.8 -0.3
ARKF ARK Fintech Innovation ETF 19.2 75 -10 0.3 +0.8
MMLG First Trust Multi-Manager Large Growth ETF 19.2 85 -20 2.0 +2.5
AIEQ AI Powered Equity ETF 19.2 87 -22 1.9 +2.4
FDN First Trust Dow Jones Internet Index Fund 19.0 52 13 1.8 +2.3
SYG SPDR MFS Systematic Growth Equity ETF 18.9 60 5 4.0 +4.5
PNQI Invesco NASDAQ Internet ETF 18.8 60 5 1.1 +1.6
IWF iShares Russell 1000 Growth ETF 18.7 19 46 3.6 +4.0
MGK Vanguard Mega Cap Growth ETF 18.6 7 58 3.8 +4.3
IGM iShares Expanded Tech Sector ETF 18.6 46 19 3.5 +4.0
MTUM iShares MSCI USA Momentum Factor ETF 18.4 15 50 4.0 +4.5
VONG Vanguard Russell 1000 Growth Index Fund 18.4 8 57 3.7 +4.2
SFYF SoFi 50 ETF 18.3 29 36 1.0 +1.5
ONEQ Fidelity Nasdaq Composite Index Tracking Stock 18.3 21 44 2.8 +3.3
VUG Vanguard Growth Index Fund 18.3 4 61 3.7 +4.1
CLOU Global X Cloud Computing ETF 18.3 68 -3 0.5 +1.0
IWY iShares Russell Top 200 Growth ETF 18.2 20 45 3.7 +4.2
DWEQ AdvisorShares Dorsey Wright Alpha Equal Weight ETF 18.1 99 -34 1.4 +1.9
QRFT Qraft Ai-Enhanced U.S. Large Cap ETF 18.1 75 -10 3.9 +4.4
JKE iShares Morningstar Large-Cap Growth ETF 17.7 25 40 2.8 +3.3
IETC iShares Evolved U.S. Technology ETF 17.6 18 47 3.6 +4.1
HIPR Direxion High Growth ETF 17.5 40 25 4.3 +4.8
THNQ ROBO Global Artificial Intelligence ETF 17.5 68 -3 1.5 +1.9
ANEW ProShares MSCI Transformational Changes ETF 17.3 45 20 3.1 +3.5
USMC Principal U.S. Mega-Cap Multi-Factor Index ETF 17.2 12 53 4.5 +5.0
QMOM Alpha Architect U.S. Quantitative Momentum ETF 17.2 49 16 1.1 +1.5
ECOZ TrueMark ESG Active Opportunities ETF 17.0 58 7 3.2 +3.7
SPQQ Siren Large Cap Blend Index ETF 17.0 20 45 4.4 +4.9
SLT Pacer Salt High TruBeta US Market ETF 16.4 60 5 3.0 +3.5
ESGV Vanguard ESG U.S. Stock ETF 16.3 12 53 4.7 +5.1
XOUT GraniteShares XOUT U.S. Large Cap ETF 16.3 60 5 3.8 +4.2
TMFC Motley Fool 100 Index ETF 16.2 50 15 3.2 +3.7
MILN Global X Millennials Thematic ETF 16.1 50 15 2.1 +2.5
PLAT WisdomTree Modern Tech Platforms Fund 16.1 20 45 1.4 +1.9
FTC First Trust Large Cap Growth AlphaDEX Fund 15.7 61 4 2.3 +2.8
RPG Invesco S&P 500 Pure Growth ETF 15.7 35 30 4.1 +4.6
FCTR First Trust Lunt U.S. Factor Rotation ETF 15.6 65 0 2.4 +2.9
VEGN US Vegan Climate ETF 15.4 60 5 4.7 +5.1
JMOM JPMorgan U.S. Momentum Factor ETF 15.4 12 53 3.2 +3.7
QGRO American Century STOXX U.S. Quality Growth ETF 15.3 29 36 3.1 +3.6
GURU Global X Guru Index ETF 15.2 75 -10 3.6 +4.1
SFY SoFi Select 500 ETF 15.0 0 65 4.7 +5.2
BKLC BNY Mellon US Large Cap Core Equity ETF 14.9 0 65 4.7 +5.2
SPMO Invesco S&P 500 Momentum ETF 14.9 13 52 3.9 +4.4
IWL iShares Russell Top 200 ETF 14.8 15 50 4.6 +5.0
BOSS Global X Founder-Run Companies ETF 14.8 45 20 2.9 +3.4
VOOG Vanguard S&P 500 Growth ETF 14.8 10 55 4.1 +4.5
MGC Vanguard Mega Cap Index Fund 14.7 7 58 4.8 +5.2
IVW iShares S&P 500 Growth ETF 14.6 18 47 4.0 +4.5
SPYG SPDR Portfolio S&P 500 Growth ETF 14.6 4 61 4.1 +4.6
FXL First Trust Technology AlphaDEX Fund 14.6 61 4 3.6 +4.1
EXT WisdomTree U.S. Total Earnings Fund 14.5 28 37 5.2 +5.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 14.5 7 58 4.8 +5.2
IUSG iShares Core S&P US Growth ETF 14.4 4 61 4.1 +4.6
XLG Invesco S&P 500 Top 50 ETF 14.4 20 45 4.2 +4.7
SYE SPDR MFS Systematic Core Equity ETF 14.3 60 5 5.3 +5.8
PBUS Invesco PureBeta MSCI USA ETF 14.3 4 61 4.8 +5.2
BBUS JP Morgan Betabuilders U.S. Equity ETF 14.2 2 63 4.8 +5.3
NULG Nuveen ESG Large-Cap Growth ETF 14.2 35 30 3.5 +4.0
ESGU iShares MSCI USA ESG Optimized ETF 14.1 15 50 4.6 +5.1
PWB Invesco Dynamic Large Cap Growth ETF 14.1 56 9 3.2 +3.7
VV Vanguard Large-Cap Index Fund 14.1 4 61 4.8 +5.2
SCHX Schwab U.S. Large-Cap ETF 14.1 3 62 4.8 +5.2
MMTM SPDR S&P 1500 Momentum Tilt ETF 14.0 12 53 4.1 +4.6
SCHK Schwab 1000 Index ETF 14.0 5 60 4.8 +5.2
LRGE ClearBridge Large Cap Growth ESG ETF 14.0 59 6 3.5 +4.0
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 14.0 9 56 5.2 +5.7
IWB iShares Russell 1000 ETF 14.0 15 50 4.7 +5.1
IYY iShares Dow Jones U.S. ETF 13.9 20 45 4.6 +5.1
IYW iShares U.S. Technology ETF 13.9 43 22 3.6 +4.1
VTHR Vanguard Russell 3000 Index Fund 13.8 10 55 4.6 +5.1
NUMG Nuveen ESG Mid-Cap Growth ETF 13.7 40 25 2.0 +2.4
OEF iShares S&P 100 ETF 13.6 20 45 4.5 +4.9
QQXT First Trust Nasdaq-100 Ex-Technology Sector Index Fund 13.6 60 5 3.4 +3.9
CACG ClearBridge All Cap Growth ETF 13.6 54 11 4.0 +4.5
IWV iShares Russell 3000 ETF 13.6 20 45 4.5 +5.0
SCHB Schwab U.S. Broad Market ETF 13.5 3 62 4.7 +5.1
IBUY Amplify Online Retail ETF 13.5 65 0 -1.1 -0.6
ITOT iShares Core S&P Total U.S. Stock Market ETF 13.5 3 62 4.6 +5.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 13.4 20 45 4.6 +5.0
FDG American Century Focused Dynamic Growth ETF 13.4 45 20 1.5 +2.0

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
AlphaClone Alternative Alpha ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID

Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 2.0 %
Divided by: Fwd. P/BV 11.3 x
Less: Expense ratio 65 bp
Equals: ALTAR Score -0.5 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.36 CATEGORY
AVERAGE
1.49
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.