AlphaClone
Alternative Alpha ETF - ALFA

Fund Objectives

The AlphaClone Alternative Alpha ETF seeks to track the price and yield, before fees and expenses, of the AlphaClone Hedge Fund Downside Hedged Index.


Fund Information

Fund Symbol ALFA
Price $35.32
Premium/Discount $0.00
Day's Range $35.11 - $35.32
52wk Range $31.75 - $47.66
Exchange NYSE ARCA
Inception Date 05/30/2012
Distributor Quasar Distributors LLC
Advisor Exchange Traded Concepts LLC
Index AlphaCone Hedge Fund Downside Hedged Index
Index Symbol ALPHACLN
Index Owner AlphaClone, Inc.
Lead Market Maker KCG Americas LLC

Index Summary

The AlphaClone Hedge Fund Downside Hedged Index tracks the performance of US-traded equity securities to which hedge funds and institutional investors have disclosed significant exposure. The proprietary index methodology developed by AlphaClone 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.

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Fund Performance

  Month End
as of 6/30/2016
Quarter End
as of 6/30/2016
1 month -1.52% -1.52%
QTD -0.09% -0.09%
YTD -10.57% -10.57%
1 Year -25.50% -25.50%
3 Year 2.55% 2.55%
5 Year -- --
10 Year -- --
Inception 7.78% 7.78%

Fund Net Asset Value

As of 07/22/16
Price $35.32
Shares Outstanding 1,700,000
Total Net Assets $60,042,916.00

DOWNLOAD MOST RECENT NAV / NAV HISTORY .CSV

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

Short term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns.

Gross Expense Ratio: 0.95%

Performance Chart

Fund Before Tax

  AS OF 1 MONTH QTD YTD 1 YEAR 3 YEAR SINCE INCEPTION
05/30/2012
MONTH END
Market Value 6/30/2016 -1.65% -0.27% -10.78% -25.72% 2.38% 7.72%
NAV 6/30/2016 -1.52% -0.09% -10.57% -25.50% 2.55% 7.78%
QUARTER END
Market Value 6/30/2016 -1.65% -0.27% -10.78% -25.72% 2.38% 7.72%
NAV 6/30/2016 -1.52% -0.09% -10.57% -25.50% 2.55% 7.78%

Returns are average annualized total returns, except those for periods of less than one year, which are cumulative.

Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

Gross Expense Ratio: 0.95%

Premium/Discount to NAV

Period Covered 1/1/2016 through 3/31/2016

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 0 0.00%
0.75% to 0.999% 0 0.00%
0.50% to 0.749% 0 0.00%
0.25% to 0.499% 0 0.00%
0.00% to 0.249% 19 31.15%
-0.001% to -0.249% 42 68.85%
-0.25% to -0.499% 6 2.38%
-0.50% to -0.749% 0 0.00%
-0.75% to -0.999% 0 0.00%
-1.00% or more 0 0.00%
Total 61 100.00%

Period Covered 4/1/2015 through 3/31/2016

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 0 0.00%
0.75% to 0.999% 0 0.00%
0.50% to 0.749% 0 0.00%
0.25% to 0.499% 2 0.79%
0.00% to 0.249% 135 53.57%
-0.001% to -0.249% 109 43.25%
-0.25% to -0.499%  4 1.59%
-0.50% to -0.749% 2 0.79%
-0.75% to -0.999% 0 0.00%
-1.00% or more 0 0.00%
Total 252 100.00%

Period Covered 1/1/2015 through 12/31/2015

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 0 0.00%
0.75% to 0.999% 0 0.00%
0.50% to 0.749% 1 0.40%
0.25% to 0.499% 3 1.19%
0.00% to 0.249% 159 63.10%
-0.001% to -0.249% 81 32.14%
-0.25% to -0.499% 6 2.38%
-0.50% to -0.749% 2 0.79%
-0.75% to -0.999% 0 0.00%
-1.00% or more 0 0.00%
Total 252 100.00%

Period Covered 1/1/2014 through 12/31/2014

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 0 0.00%
0.75% to 0.999% 0 0.00%
0.50% to 0.749% 1 0.40%
0.25% to 0.499% 5 1.98%
0.00% to 0.249% 153 60.71%
-0.001% to -0.249% 81 32.14%
-0.25% to -0.499%  11 4.37%
-0.50% to -0.749% 1 0.40%
-0.75% to -0.999% 0 0.00%
-1.00% or more 0 0.00%
Total 252 100.00%

Period Covered 5/30/2012 through 3/31/2013

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 2 0.96%
0.75% to 0.999% 6 2.88%
0.50% to 0.749% 7 3.37%
0.25% to 0.499% 27 12.98%
0.00% to 0.249% 81 38.94%
-0.001% to -0.249% 56 26.92%
-0.25% to -0.499%  15 7.21%
-0.50% to -0.749% 10 4.81%
-0.75% to -0.999% 2 0.96%
-1.00% or more 2 0.96%
Total 208 100.00%

Period Covered 4/1/2013 through 3/31/2014

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 1 0.40%
0.75% to 0.999% 1 0.40%
0.50% to 0.749% 4 1.58%
0.25% to 0.499% 41 16.21%
0.00% to 0.249% 144 56.92%
-0.001% to -0.249% 47 18.58%
-0.25% to -0.499%  12 4.74%
-0.50% to -0.749% 2 0.79%
-0.75% to -0.999% 0 0.00%
-1.00% or more 1 0.40%
Total 253 100.00%

Period Covered 4/1/2014 through 3/31/2015

PREMIUM/DISCOUNT RANGE NUMBER OF TRADING DAYS % OF TOTAL TRADE DAYS
1.00% or more 0 0.00%
0.75% to 0.999% 0 0.00%
0.50% to 0.749% 2 0.79%
0.25% to 0.499% 4 1.59%
0.00% to 0.249% 149 59.13%
-0.001% to -0.249% 84 33.33%
-0.25% to -0.499%  12 4.76%
-0.50% to -0.749% 1 0.40%
-0.75% to -0.999% 0 0.00%
-1.00% or more 0 0.00%
Total 252 100.00%

Premium - The amount the Fund is trading above the reported NAV expressed as a percentage of the NAV. Discount - The amount the Fund is trading below the reported NAV expressed as a percentage of NAV.

Shares of the Fund trade based on market prices rather than the Fund's net asset value per share ("NAV"). Consequently, shares of the Fund may trade at a price greater than (premium) or less than (discount) the Fund's NAV. The above chart presents information for the period indicated about how often the most recent market closing price for shares of the Fund reflected a premium or discount to the Fund's NAV for each trading day and the amount of each such premium or discount, expressed as a percentage of that day's NAV.

Shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are bought and sold at current market prices. The data presented represents past performance and cannot be used to predict future results.

Fund Top Holdings

As of 07/22/2016

NAME WEIGHT SHARES HELD
FACEBOOK INC 5.28% 26,194
JOHNSON & JOHNSON 4.56% 21,883
MICROSOFT CORP 4.51% 47,874
AMAZON COM INC 4.36% 3,517
SIMON PPTY GROUP INC NEW 3.53% 9,397
UNITED CONTL HLDGS INC 3.26% 41,133
ALPHABET INC 3.14% 2,486
APPLE INC 3.04% 18,524
HORIZON PHARMA PLC 2.35% 74,839
YAHOO INC 2.16% 32,872
Download All Holdings .csv

Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Fund Documents

Click on the title to display the document

Open pdf with Adobe Reader Fact Sheet
Open pdf with Adobe Reader Summary Prospectus
Open pdf with Adobe Reader Prospectus
Open pdf with Adobe Reader SAI
Open pdf with Adobe Reader ETFs XBRL
Open pdf with Adobe Reader Annual Report
Open pdf with Adobe Reader Semi-annual Report

The ALFI Prospectus and Summary Prospectus, and ALFA Prospectus and Summary Prospectus contains this and other important information about the investment company, and it may be obtained by calling 1-800-617-0004. Read it carefully before investing.

Investments involve risk. Principal loss is possible. The AlphaClone Alternative Alpha ETF has the same risks as the underlying securities traded on the exchange throughout the day. Redemptions are limited and often commissions are charged on each trade, and ETFs may trade at a premium or discount to their net asset value. The AlphaClone Alternative ETF can make short sales of securities, which involves the risk that losses in securities may exceed the original amount invested in a security. The AlphaClone International ETF fund is non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. The AlphaClone International ETF fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater in emerging markets. Therefore, the fund is more exposed to individual stock volatility than a diversified fund. REITs may be affected by changes in the value of their underlying properties or mortgages or by defaults by their borrowers or tenants. Furthermore, these entities depend upon specialized management skills, have limited diversification and are, therefore, subject to risks inherent in financing a limited number of projects. In addition, the performance of a REIT may be affected by changes in the tax laws or by its failure to qualify for tax-free pass-through of income. Investments in securities of MLPs involve risks that differ from an investment in common stock. Holders of the units of MLPs have more limited control and limited rights to vote on matters affecting the partnership. There are also certain tax risks associated with an investment in units of MLPs. In addition, conflicts of interest may exist between common unit holders, subordinated unit holders and the general partner of a MLP, including a conflict arising as a result of incentive distribution payments. The performance of the funds may diverge from that of their Index. Because the funds employ a representative sampling strategy and may also invest up to 20% of its assets in securities that are not included in the Index, or may overweight or underweight certain components of the Index, they may experience tracking error to a greater extent than a fund that seeks to replicate an index. The funds are not actively managed and may be affected by a general decline in market segments related to the index. The funds invest in securities included in, or representative of securities included in, their index, regardless of their investment merits. Outside the index construction rules, the funds do not take defensive positions under any market conditions, including conditions that are adverse to the performance of the funds. Changes in currency exchange rates and the relative value of non-U.S. currencies may affect the value of the ADRs and the value of your Fund shares. Investing in small cap companies involve additional risks such as limited liquidity and greater volatility than large companies.

The AlphaClone Hedge Fund Downside Hedged Index represents equity securities that are favored by hedge funds and institutional investors in their public disclosures. The index is equal weighted with an overlap bias which gives a security held by twice the number of managers twice the weight. The index is reconstituted quarterly and can vary between being long only and market neutral. The index's adjustment in long/short positions does not guarantee against market loss. The AlphaClone International Downside Hedged Index represents American Depository Receipts (ADR) securities that are favored by hedge funds and institutional investors in their public disclosures. The index is equal weighted with an overlap bias which gives a security held by twice the number of managers twice the weight. The index is reconstituted quarterly and can vary between being long only and market neutral. The index's adjustment in long/short positions does not guarantee against market loss. The S&P 500 Index is an unmanaged market index generally considered representative of the stock market as a whole. The index focuses on the Large-Cap segment of the U.S. Equities market. It is not possible to invest directly in an unmanaged index. This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Nothing on this website should be considered a solicitation to buy or an offer to sell shares of the Funds in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.

The AlphaClone ETFs are distributed by Quasar Distributors, LLC. The AlphaClone Alterative Alpha ETF’s investment advisor is Exchange Traded Concepts LLC. The AlphaClone International ETF’s investment advisor is AlphaClone, Inc. The funds’ sub-advisor is Vident Investment Advisory LLC. AlphaClone, Inc. owns the indexes that underlie the funds. KCG Americas LLC is the funds’ lead market maker. Quasar is not affiliated with AlphaClone, Exchange Traded Concepts, Vident, or KCG Americas. The AlphaClone logo is a service mark of AlphaClone, Inc.