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Alger Weatherbie Enduring Growth ETF

AWEG
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Mar 06 2023
Expense Ratio
0.65%
Type
US Equities
Fund Owner
Alger
Volume (1m avg. daily)
AUM
$2,314,512
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
Invest with AWEG

What is AWEG?

The Fund invests primarily in equity securities of mid-cap growth companies with an environmental, social and governance ("ESG") rating of medium or better, as rated by Sustainalytics, a third-party ESG rating agency. For purposes of the Fund's principal investment strategies, "mid-cap companies" are those companies that, at the time of purchase of the securities, primarily have total market capitalization within the range of (i) companies included in the Russell Midcap Growth Index, as reported by the index at the most recent quarter end, or (ii) $1 billion to $25 billion. At December 31, 2022, the companies in this index ranged from $735.7 million to $ 52.8 billion. Because of the Fund's long-term approach to investing, it could have a significant portion of its assets invested in securities of issuers that have appreciated beyond the market capitalization thresholds noted.

ETFs related toAWEG

ETFs correlated to AWEG include QUAL, FQAL, QQQE

AWEG
Alger ETF Trust (The) - Alger Weatherbie Enduring Growth ETF
QUAL
BlackRock Institutional Trust Company N.A. - iShares MSCI USA Quality Factor ETF
FQAL
Fidelity Covington Trust - Fidelity Quality Factor ETF
QQQE
Direxion Shares ETF Trust - Direxion NASDAQ-100 Equal Weighted Index Shares
QQEW
First Trust Exchange-Traded Fund III - First Trust NASDAQ-100 Equal Weighted Index Fund
RYT
Invesco Capital Management LLC - Invesco S&P 500 Equal Weight Technology ETF
QDEC
First Trust Exchange-Traded Fund VIII - FT Cboe Vest Nasdaq-100 Buffer ETF - December
EWCO
Invesco Exchange-Traded Self-Indexed Fund Trust - Invesco S&P 500 Equal Weight Communication Services ETF
CIBR
First Trust Exchange-Traded Fund III - First Trust NASDAQ Cybersecurity ETF
QDF
FlexShares Trust - FlexShares Quality Dividend Index Fund
FIVG
ETF Series Solutions Trust - Defiance Next Gen Connectivity ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

Automated Strategies
Related toAWEG

#D

Phalanx Formation: Downturn Defense

Category

Getting Defensive

Risk Rating

Moderate

#QUAL

Quality Factor

Category

Benchmarks

Risk Rating

Aggressive

Create your own algorithmic trading strategy with AWEG using Composer

FAQ

AWEG is a US Equities ETF. The Fund invests primarily in equity securities of mid-cap growth companies with an environmental, social and governance ("ESG") rating of medium or better, as rated by Sustainalytics, a third-party ESG rating agency. For purposes of the Fund's principal investment strategies, "mid-cap companies" are those companies that, at the time of purchase of the securities, primarily have total market capitalization within the range of (i) companies included in the Russell Midcap Growth Index, as reported by the index at the most recent quarter end, or (ii) $1 billion to $25 billion. At December 31, 2022, the companies in this index ranged from $735.7 million to $ 52.8 billion. Because of the Fund's long-term approach to investing, it could have a significant portion of its assets invested in securities of issuers that have appreciated beyond the market capitalization thresholds noted.

Yes, AWEG is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, AWEG is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on AWEG is %. This is the percent change in the value of AWEG over the most recent 1-month period. The 3-month return on AWEG is %. This is the percent change in the value of AWEG over the most recent 3-month period.

ETFs similar to AWEG include SPHQ, SUSA, and SPLV.

ETFs correlated to AWEG include QUAL, FQAL, and QQQE.

ETFs that are inversely correlated to AWEG include SDS, SPDN, and SPXU.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.