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ETFs

Alger Weatherbie Enduring Growth ETF

AWEG
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Mar 06 2023
Expense Ratio
0.65%
Type
US Equities
Fund Owner
Alger
Volume (1m avg. daily)
—
AUM
$3,906,798
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View
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 IWO, VBK, VTWG

AWEG
Alger ETF Trust (The) - Alger Weatherbie Enduring Growth ETF
IWO
BlackRock Institutional Trust Company N.A. - iShares Russell 2000 Growth ETF
VBK
Vanguard Group, Inc. - Vanguard Small Cap Growth ETF
VTWG
Vanguard Group, Inc. - Vanguard Russell 2000 Growth Index ETF
VXF
Vanguard Group, Inc. - Vanguard Extended Market Index ETF
IMCG
BlackRock Institutional Trust Company N.A. - iShares Morningstar Mid-Cap Growth ETF
VB
Vanguard Group, Inc. - Vanguard Small Cap ETF
IWM
BlackRock Institutional Trust Company N.A. - iShares Russell 2000 ETF
SMMD
BlackRock Institutional Trust Company N.A. - iShares Russell 2500 ETF
UWM
ProShares Trust - ProShares Ultra Russell 2000 2X Shares
TNA
Direxion Shares ETF Trust - Direxion Dialy Small Cap Bull 3X Shares

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

#GLOBE

Follow the Global Trend

Category

Momentum, Lever Up, Go Global, Diversification

Risk Rating

Moderate

#CV

Controlling for Volatility

Category

Getting Defensive, Worried about Inflation?

Risk Rating

Moderate

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 -0.0194%. This is the percent change in the value of AWEG over the most recent 1-month period. The 3-month return on AWEG is -0.025%. This is the percent change in the value of AWEG over the most recent 3-month period.

ETFs similar to AWEG include SPHQ, DSI, and QUAL.

ETFs correlated to AWEG include IWO, VBK, and VTWG.

ETFs that are inversely correlated to AWEG include SRTY, TZA, and TWM.

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.