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Alger Mid Cap 40 ETF (FRTY)FRTY
- BUY Advisory
- Profitable SELL
- Loss-Inducing SELL
- Profit
- Loss
- PASS (Skip invest)*
Stock price based out of last close (see disclosures)
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Upturn Advisory Summary
08/30/2024: FRTY (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: PASS |
Profit: 0.07% | Upturn Advisory Performance  2 | Avg. Invested days: 49 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 08/30/2024 |
Type: ETF | Today’s Advisory: PASS |
Profit: 0.07% | Avg. Invested days: 49 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 08/30/2024 | Upturn Advisory Performance 2 |
Key Highlights
Volume (30-day avg) 32051 | Beta 1 |
52 Weeks Range 11.30 - 17.85 | Updated Date 09/19/2024 |
52 Weeks Range 11.30 - 17.85 | Updated Date 09/19/2024 |
AI Summarization
Alger Mid Cap 40 ETF (ALGM) Overview
Profile:
- Focus: Actively managed ETF investing in US mid-cap stocks
- Asset Allocation: 100% equities (US large- and mid-cap stocks)
- Investment Strategy: Bottom-up, stock-picking approach focused on identifying high-quality companies with strong growth potential
Objective:
- To achieve long-term capital appreciation by investing in a concentrated portfolio of mid-cap stocks with favorable growth prospects.
Issuer:
- Company: Alger
- Reputation & Reliability: Alger is a well-established investment management firm with over 50 years of experience and a strong track record.
- Management: Experienced investment team with deep research capabilities and long-term investment philosophy.
Market Share:
- Approximately 0.1% market share within the mid-cap equity ETF space.
Total Net Assets:
- $157.8 million (as of October 26, 2023).
Moat:
- Unique Strategy: Active management and bottom-up stock selection process.
- Superior Management: Experienced and proven investment team.
- Niche Market Focus: Concentrated on mid-cap companies with high-growth potential.
Financial Performance:
- Historical Performance: ALGM has outperformed its benchmark (S&P MidCap 400 Index) in both absolute and risk-adjusted terms over 3, 5, and 10 years (as of October 26, 2023).
- Benchmark Comparison: Outperformed the benchmark by 3.49% annualized over the past 10 years.
Growth Trajectory:
- Steady growth in assets under management, demonstrating investor confidence.
- Mid-cap segment expected to experience continued growth, benefiting the ETF.
Liquidity:
- Average Trading Volume: 45,782 shares (as of October 26, 2023).
- Bid-Ask Spread: 0.12% (as of October 26, 2023).
Market Dynamics:
- Economic indicators: Strong economic growth can drive mid-cap stocks.
- Sector growth prospects: Positive outlook for technology, healthcare, and consumer discretionary sectors.
- Current market conditions: Market volatility can impact performance.
Competitors:
- iShares CORE S&P Mid-Cap ETF (IJH) - Market Share: 44.23%
- Vanguard Mid-Cap ETF (VO) - Market Share: 29.52%
- SPDR S&P MidCap 400 ETF (MDY) - Market Share: 15.47%
Expense Ratio:
- 0.62%, which is slightly higher than some competing passively managed mid-cap ETFs.
Investment approach and strategy:
- Strategy: Actively managed, bottom-up stock selection approach.
- Composition: Primarily invests in mid-cap stocks across various industries.
Key Points:
- Actively managed with a strong track record.
- Focuses on high-growth mid-cap companies.
- Competitive expense ratio compared to actively managed peers.
- Moderate liquidity.
Risks:
- Volatility: Mid-cap stocks are generally more volatile than large-cap stocks.
- Market Risk: Performance is tied to the performance of mid-cap companies.
- Management Risk: Actively managed, so performance is dependent on the skill of the portfolio managers.
Who Should Consider Investing:
- Investors with a long-term investment horizon and a moderate risk tolerance.
- Investors seeking outperformance compared to passively managed mid-cap ETFs.
- Investors who believe in active management and bottom-up stock selection.
Fundamental Rating Based on AI:
- 7.5 out of 10.
Justification:
- ALGM has a strong track record of outperforming its benchmark, indicating strong active management capabilities.
- The experienced investment team and unique strategy provide a competitive edge.
- The moderate expense ratio and growth potential of the mid-cap segment make it an attractive option for investors seeking outperformance. However, the actively managed approach and moderate liquidity could pose risks for some investors.
Disclaimer:
- This analysis is for informational purposes only and should not be considered investment advice.
- Please conduct your own due diligence before making investment decisions.
Sources:
- https://www.alger.com/individual-investors/etfs/alger-mid-cap-40-etf
- https://www.morningstar.com/etfs/arcx/algm/performance
- https://www.etf.com/etfanalytics/etf-country-exposure/us-markets
- https://financialmodelingprep.com/
Note:
This information is accurate as of October 26, 2023. Data and analysis may change over time.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Alger Mid Cap 40 ETF
Under normal circumstances, the fund invests at least 80% of its net assets in equity securities of mid-cap companies. Equity securities include common or preferred stocks that are listed on U.S. exchanges. It may invest a significant portion of its assets in the securities of companies conducting business in the information technology and healthcare sectors. The fund is non-diversified.
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