ALFA AlphaClone Alternative Alpha ETF
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ALFA AlphaClone Alternative Alpha ETF
Seeks to track, before fees and expenses, the AlphaClone Hedge Fund Downside Hedged Index. The Index tracks the performance of US-traded equity securities to which hedge funds and institutional investors have disclosed significant exposure. The Index ranks hedge funds and institutional investors based on the efficacy of replicating their publicity disclosed positions. Equities are selected from those managers with the highest ranking, or "Clone Score". The index is risk managed in that it can vary between being long only and market hedged based on certain rules-driven relative price targets tied to a broad market index. The index can oscillate between being long only or market hedged. The hedge is triggered on (off) when the S&P 500 closes below (above) its 200 day simple moving average at any month end. When the index is hedged, it remains long its holdings and shorts the S&P 500 index in an amount equal to 85% of value of the index’s long positions on the day the hedge takes effect. The index hedge adjustment (on or off) takes effect at market close two trading days after the hedge is triggered. Index constituents are equal weighted at the time of each reconstitution but have an overlap bias (i.e., holdings held by twice as many hedge funds and institutional investors have twice the weight). Additionally, each individual constituent is limited to a 5% weighting at the time of each reconstitution.
$62.10 0.00 (0.00%)
As of 08/30/2022 00:00:00 EST IEX book CBOE book
ETF Information
Sponsor: Exchange Traded Concepts
Category1: US Equity
Category2: Broad Market
Category3: Multi-cap
Morningstar category: Mid-Cap Growth
Leverage factor: 1.00
Note: Uses downside hedging
Inception date: 05/31/2012
Index tracking method: Passive replication
Current yield: 0.00%
Historical average yield: 0.28%
Market cap: $0
Average volume: 6,990
Fees: 0.6900%
Index Information
AlphaClone Alternative Alpha Index
Index symbol: ALPHACLN
Provider: AlphaClone
Index weighting: Other
Index inception date: 10/11/2011
Backtesting data exists: No
Factors used to select securities: