ACES
ALPS Clean Energy ETF
ACES tracks an index of US- and Canada-listed companies in the clean energy industry.
US
EQUITY
Rules-Based
MANAGEMENT STYLE
207.7 M
ASSETS UNDER MGMT
55 bp
EXPENSES
Fund Basics
| Fund sponsor | ALPS |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 27, 2018 |
| Assets (mns) | $208 |
| Expense ratio | 55 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| TESLA MOTORS INC | 7.7 % |
| ALBEMARLE CORP | 6.8 % |
| ARCADIUM LITHIUM PLC | 6.6 % |
| ITRON INC | 6.0 % |
| DARLING INTERNATIONAL INC | 5.9 % |
| ORMAT TECHNOLOGIES INC | 5.5 % |
| NEXTRACKER, INC. CLASS A | 5.3 % |
| BROOKFIELD RENEWABLE PARTNERS LP | 5.2 % |
| FIRST SOLAR INC | 4.6 % |
| NORTHLAND POWER INC | 4.6 % |
Constituent Breakdown
| Number of holdings | 37 |
| Herfindahl-Hirschman Index | 438 |
| Wgt avg mkt cap (mns) | $57,720 |
| Large cap (>$10bn) | 21.5% |
| Mid cap ($2-10bn) | 51.0% |
| Small cap (<$2bn) | 27.5% |
| Developed mkts. | 100.0% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 85.5 % |
 |
CANADA | 9.0 % |
 |
BERMUDA | 5.2 % |
Historical Performance
Standardized Performance (as of 10/31/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | -21.3% | -3.8% | -27.3% | -28.4% | -1.0% | -- | 2.9% | Volatility | 34.0% | 37.0% | 35.3% | 38.8% | 39.8% | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.46 | 42% |
| MSCI EAFE | 1.30 | 34% |
| MSCI Emg Mkts | 1.14 | 25% |
Liquidity Measures
| Avg. volume (000) | 167 |
| Turnover | 2.2% |
| Avg. Bid/Ask (% of price) | 0.26% |
| ADV of underlying (mns) | $16,913 |
Technical Indicators
| Recent close | $26.84 |
| 30d moving avg. | $28.46 |
| Annualized volatility | 39.4% |
| Relative strength (RSI) | 47 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 7.9% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ACES |
Expenses vs. ACES |
ALTAR Score™ vs. ACES |
|---|---|---|---|---|
| QCLN | First Trust Nasdaq Clean Edge Green Energy Index Fund | 49.5% | +3 bp | +1.4% |
| RNEW | VanEck Green Infrastructure ETF | 32.2% | -10 bp | +2.9% |
| PBW | Invesco WilderHill Clean Energy ETF | 30.1% | +11 bp | -9.0% |
| FRNW | Fidelity Clean Energy ETF | 26.5% | -16 bp | +6.9% |
| TAN | Invesco Solar ETF | 24.3% | +12 bp | +14.9% |
| CNRG | SPDR S&P Kensho Clean Power ETF | 23.8% | -10 bp | +7.2% |
| ERTH | Invesco MSCI Sustainable Future ETF | 22.1% | +7 bp | +8.0% |
| RNRG | Global X Renewable Energy Producers ETF | 20.3% | +11 bp | +9.9% |
| SMOG | VanEck Low Carbon Energy ETF | 19.8% | +6 bp | +6.7% |
| CTEC | Global X CleanTech ETF | 19.8% | -5 bp | +7.2% |
Risk and Returns: ACES vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 11/21/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ACES
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
ALTAR Score™
ACES
-4.4%
Cat. Avg
5.4%
ALTAR Score™ Calculation
Category Overview
There are 973 funds in the US Equity category, with an average ALTAR Score™
of 5.4% and a standard deviation of
2.4%. ACES's ALTAR Score™ is approximately
4.1 standard deviations
below
the category average. This places ACES in the 1st percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
ACESSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Rules-Based US Equity ETFs |
| # of ETFs | 609 |
| Avg. Expense Ratio | 46.6 bp |
| Std. Deviation | 32.9 bp |
| ACES (55 bp) Percentile rank | 61 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ACES | 55.0 | 25.8 | 80.8 |
| Peer Avg. | 46.6 | 16.9 | 63.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .