Key stats
About The Alger ETF Trust Alger Russell Innovation ETF
Home page
Inception date
Jan 7, 2025
Structure
Open-Ended Fund
Distributes
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Tax on distributions
Qualified dividends
Primary advisor
Fred Alger Management LLC
INVN is passively managed and invests in a narrow portfolio of 50 US companies deemed the most innovative within the Russell 1000 Index. This includes firms that may not yet be widely recognized but are developing or benefiting from new products, services, technologies, or advancements. The parent universe is broadly comprised of large- and mid-cap US companies, and the index does not impose limits on market capitalization, sector, or industry exposure. Initially, the index screens out the bottom one-third of stocks in the Russell 1000 based on free cash flow margin. To identify innovative firms, it ranks the remaining stocks by research and development spending relative to enterprise value. The top 50 stocks are selected and weighted equally. The index reconstitutes and rebalances the portfolio quarterly.
Classification
Displays a symbol's price movements over previous years to identify recurring trends.