This ETF tracks a dynamic benchmark which is based on top holdings of hedge fund managers. The underlying index is constructed by analyzing 13F filings, which are regulatory filings that institutional investors with $100 million or more in assets under management are required to file with the SEC within 45 days of the end of each quarter. As such, ALFA attempts to mimic the positions and strategies implemented by professional money-managers, many of whom have a proven track record of consistently generating alpha. There are some drawbacks to this strategy however; besides the time lag associated with the SEC paperwork, there is also the issue of incompleteness of these filings and the nuances of net exposure reported. Investors should also consider GURU, which offers a generally similar strategy for a cheaper price tag; the distinguishing feature being that ALFA has the flexibility to vary between a traditional long only portfolio and a market hedged strategy based on relative price targets.
The adjacent table gives investors an individual Realtime Rating for ALFA on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETFdb Pro members, shows the ETF in the Hedge Fund with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETFdb Pro. To view information on how the ETFdb Realtime Ratings work, click here.View the Category Report
The following tables and charts contain in-depth metrics for this ETF and compare it to similar peer ETFs within its ETFdb.com Category.
This ETF is not currently available for commission free trading on any platforms.
There are 8 other ETFs in the Hedge Fund ETFdb.com Category that are also eligible for commission free trading:
This section shows how this ETF has performed relative to its peer group ETFdb.com Category.
The following charts can be customized to display historical performance in a number of different formats, including line charts, bar charts, and candlesticks. Time periods can be adjusted to increase or decrease the period shown, ranging from five minutes to several months.
The following chart also includes the option to compare the performance of ALFA relative to other ETFs and benchmarks or to include indicators such as Bollinger Bands, relative strength, and moving averages.
This section shows how the volatility of this ETF compares to the peer group ETFdb.com Category.
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