FRTY is a focused mid-cap growth ETF comprised of 40 U.S. stocks undergoing "Positive Dynamic Change". Its ER is 0.60% after waivers and the ETF has $85 million in AUM. FRTY's current holdings are increasing sales at a faster rate than they were three and five years ago, making the fund a standout among nearly all U.S. Equity ETFs. However, Alger's strategy appears reckless. I calculated a 1.60 five-year portfolio beta, a 36.56x forward P/E ratio, and a weighted average ROE that's substantially lower than its peers.

On Tuesday, Alger released the Alger Russell Innovation ETF (INVN), the latest addition to Alger's growing fund library.  INVN looks to provide results similar to that of the Alger Russell Innovation Index.

Thanks to an improving U.S. economy and reassuring earnings released so far, market sentiments remain strong, overriding worries over the presidential election, uncertainty regarding the magnitude and timing of Fed rate cuts, and volatility in the oil patch due to geopolitical tensions. Stimulus measures in China also supported the rally as this quelled global growth worries a bit.

Mid-cap ETFs often offer the best of the both worlds -- large and small-caps.

Alger vice president Arthur Nowak thinks “the biggest opportunities right now are in growth equities, particularly in the small-cap and midcap space… because some of the deep valuation discounts” these stocks are experiencing. Speaking with the New York Stock Exchange's Judy Shaw for “ETF Leaders Powered by the NYSE,” Nowak explained that “over the last [.

The first half of 2021 brought a torrid pace of exchange traded funds debuts, with 200 rookie ETFs coming to market. As CFRA Research Director of ETF & Mutual Fund Research Todd Rosenbluth points out, more than a quarter of that tally, 51 funds to be precise, debuted in June alone.

Earlier this month, Fred Alger Management, LLC (Alger) entered the exchange traded funds arena with the Alger Mid Cap 40 ETF (FRTY). The new ETF seeks to invest in 40 high-conviction mid cap growth equities.