{
 "ticker": "INVN",
 "name": "Alger Russell Innovation ETF",
 "issuer": "Alger",
 "desk": "themes",
 "url": "https://etfiq.com/funds/invn",
 "html": "https://etfiq.com/funds/invn",
 "markdown": "https://etfiq.com/funds/invn.md",
 "as_of": "2026-09-11",
 "verdict": "INVN holds 50 stocks, and 68% of its weight is outside the S&P 500.",
 "key_facts": [
  {
   "key": "already_in_the_s_p_500",
   "label": "Already in the S&P 500",
   "value": "32.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "INVN, already in the S&P 500: 32.5%, as of Sep 11, 2026."
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "98.5%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "INVN, active share vs the S&P 500: 98.5%, as of Sep 11, 2026."
  },
  {
   "key": "top_ten_holdings",
   "label": "Top ten holdings",
   "value": "22.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "INVN, top ten holdings: 22.6%, as of Sep 11, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "+22.9%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "INVN, total return, 1 year: +22.9%, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$10m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026",
   "as_of": "2026-09-11",
   "sentence": "INVN, net assets: $10m (SEC filing, whole fund, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.55%",
   "source": "485BPOS XBRL, Apr 28, 2026",
   "as_of": "2026-09-11",
   "sentence": "INVN, expense ratio: 0.55% (485BPOS XBRL, Apr 28, 2026)."
  }
 ],
 "fields": [
  {
   "key": "theme",
   "label": "Theme",
   "value": "Broad innovation and megatrends",
   "source": "ETFIQ, editorial"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Jan 7, 2025",
   "source": null
  },
  {
   "key": "already_in_the_s_p_500_by_weight",
   "label": "Already in the S&P 500, by weight",
   "value": "32.5%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_s_p_500",
   "label": "Active share vs the S&P 500",
   "value": "98.5%",
   "source": "ETFIQ"
  },
  {
   "key": "already_in_the_nasdaq_100_by_weight",
   "label": "Already in the Nasdaq-100, by weight",
   "value": "9.8%",
   "source": "ETFIQ"
  },
  {
   "key": "active_share_vs_the_nasdaq_100",
   "label": "Active share vs the Nasdaq-100",
   "value": "98.8%",
   "source": "ETFIQ"
  },
  {
   "key": "top_ten_holdings_weight",
   "label": "Top ten holdings weight",
   "value": "22.6%",
   "source": null
  },
  {
   "key": "holdings",
   "label": "Holdings",
   "value": "50",
   "source": null
  },
  {
   "key": "holdings_as_of",
   "label": "Holdings as of",
   "value": "Jun 30, 2026",
   "source": "SEC N-PORT"
  },
  {
   "key": "top_holdings",
   "label": "Top holdings",
   "value": "ROBLOX CORP 2.6%, ZEBRA TECHNOLOGIES CORP 2.4%, EXPEDIA GROUP INC 2.3%, MAPLEBEAR INC 2.2%, BLOCK INC 2.2%, ZSCALER INC 2.2%, BILL HOLDINGS INC 2.2%, BIOGEN INC 2.2%, CCC INTELLIGENT SOLUTIONS HOLDINGS INC 2.1%, ETSY INC 2.1%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$10m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026"
  },
  {
   "key": "below_its_all_time_high",
   "label": "Below its all-time high",
   "value": "\u22125.7%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.55%",
   "source": "485BPOS XBRL, Apr 28, 2026"
  },
  {
   "key": "fee_for_the_part_that_differs_from_the_s_p_500_active_expense_ratio",
   "label": "Fee for the part that differs from the S&P 500, active expense ratio",
   "value": "0.56%",
   "source": "ETFIQ"
  },
  {
   "key": "closest_funds_by_holdings_overlap",
   "label": "Closest funds by holdings overlap",
   "value": "ABOT 24%, WCLD 22%, XSW 19%, FCLD 18%, SKYY 17%",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+22.6%",
   "S&P 500": "+3.3%",
   "Gap to S&P 500": "+19.3 pts",
   "Gap to Nasdaq-100": "+23.4 pts"
  },
  {
   "window": "6 months",
   "Total return": "+37.7%",
   "S&P 500": "+16.0%",
   "Gap to S&P 500": "+21.6 pts",
   "Gap to Nasdaq-100": "+17.0 pts"
  },
  {
   "window": "1 year",
   "Total return": "+22.9%",
   "S&P 500": "+17.5%",
   "Gap to S&P 500": "+5.4 pts",
   "Gap to Nasdaq-100": "\u22120.1 pts"
  },
  {
   "window": "Since launch",
   "Total return": "+29.1%",
   "S&P 500": "+32.1%",
   "Gap to S&P 500": "\u22123.0 pts",
   "Gap to Nasdaq-100": "\u221210.7 pts"
  }
 ],
 "questions": [
  {
   "q": "How much of INVN is in S&P 500 companies?",
   "a": "By its holdings filed for Jun 30, 2026, 32% of INVN by weight is stocks the S&P 500 already holds. Its active share against the index is 98%, so that share is the part doing something different."
  },
  {
   "q": "What does INVN hold?",
   "a": "50 positions as filed for Jun 30, 2026, with the top ten at 23% of the fund. The largest are ROBLOX CORP at 2.6%, ZEBRA TECHNOLOGIES CORP at 2.4%, EXPEDIA GROUP INC at 2.3%."
  },
  {
   "q": "Has INVN beaten the S&P 500?",
   "a": "Over the year to Sep 11, 2026 INVN returned +22.9% with distributions reinvested, against +17.5% for the S&P 500, so it finished ahead of the index by 5.4 points."
  },
  {
   "q": "What does INVN cost?",
   "a": "The prospectus expense ratio is 0.55% a year. Because 98% of the fund differs from the S&P 500, the fee on that differing part works out at 0.56%."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}